HUB24 (ASX: HUB) Grows Wealth Platform Market Share to 9.9%

HUB24 (ASX: HUB) has continued to strengthen its position in Australia’s fast-growing wealth management industry, delivering record annual inflows and expanding its market share as financial advisers increasingly migrate toward independent technology platforms.

The wealth technology provider reported total Funds Under Administration (FUA) of $164.3 billion at 30 June 2026, a 20% increase from a year earlier. Platform FUA reached $139.5 billion, up 24%, while its Portfolio, Administration and Reporting Services business grew to $24.8 billion.

The result capped another year of strong organic growth, with platform net inflows reaching a record $18.9 billion during FY2026, a 20% increase on the previous year after adjusting for large institutional migrations.

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The figures highlight a broader shift taking place across Australia’s wealth management industry. Financial advisers are increasingly moving away from traditional institution-owned platforms in favour of independent technology providers offering greater flexibility, digital capabilities and client service.

That trend has helped HUB24 expand its market share to 9.9%, up from 8.6% a year earlier. According to Plan For Life industry data, the company recorded the highest quarterly and annual net inflows among Australian platform providers for the tenth consecutive quarter while maintaining its position as the country’s sixth-largest platform by funds under administration.

Growth was supported by continued adviser adoption. During the June quarter, HUB24 signed 36 new licensee agreements and added 100 net active advisers, lifting its adviser network to 5,649, an 11% increase over the past year.

The company’s broader ecosystem also continued to expand. Class, its accounting and administration software business, increased total accounts to 226,767, representing the largest annual increase since FY2018. Meanwhile, NowInfinity processed more than 245,000 paid legal document orders over the past 12 months, while Corporate Messenger grew to more than 943,000 active corporate entities.

The update comes as Australia’s financial advice industry undergoes structural change. An ageing population, compulsory superannuation, intergenerational wealth transfers and evolving retirement needs are all increasing demand for professional financial advice. Proposed superannuation tax changes announced in the Federal Budget have also reinforced the importance of advice for many higher-balance investors.

Despite market volatility during the June quarter, HUB24 said underlying inflows remained resilient.

“In the context of market volatility and the recent tax changes proposed in the Federal Budget, the net inflows were stable on the pcp when excluding large migrations, with year-on-year growth in superannuation net inflows offset by lower net inflows into Investor Directed Portfolio Services (IDPS).”

The company added:

“The continued momentum throughout FY26 has resulted in record annual net inflows of $18.9 billion, up 20% from the $15.8 billion in FY25 excluding large migrations, reflecting our innovative market-leading solutions, client service excellence, and the strength of our customer relationships.”

HUB24 also pointed to long-term industry drivers supporting future growth.

“Strong demand for financial advice is underpinned by demographic trends and Australia’s compulsory superannuation system. The proposed tax changes announced in the Federal Budget further reinforce the need for professional advice and the attractiveness of the superannuation system. With these structural growth drivers and a strong pipeline of opportunities across new and existing relationships, HUB24 is well positioned to deliver ongoing growth.”

Innovation remains another focus. During the year, HUB24 introduced a lifetime super solution in partnership with TAL and continued developing artificial intelligence capabilities, including Class Intelligent Matching and myhub, an AI-powered advice platform expected to enter pilot testing during the first half of FY2027.

Despite the strong operating update, HUB24 shares traded lower on Tuesday, changing hands around $81.19 in midday trade as some investors locked in gains following a strong run. The company currently has a market capitalisation of approximately $6.6 billion.

While short-term market volatility may continue to influence platform inflows, HUB24’s latest results suggest the company is continuing to win adviser market share in a sector benefiting from long-term structural growth. As Australia’s superannuation pool expands and demand for financial advice rises, the battle among platform providers is increasingly being won through technology, service and innovation rather than scale alone.

Sources: HUB24 Q4 FY2026 Market Update; Wealth Insights 2026 Platform Service Level Report.