HUB24 gains from demographic and Budget shifts

HUB24 reported net inflows of $4.2 billion for the fourth quarter of FY 26, showing a rise from the $3.9 billion recorded in the previous quarter.

Quarterly performance and client growth

For the three months ending 30 June, the platform’s funds under administration (FUA) reached $164.3 billion, a 20 percent increase compared with the same period last year. The firm signed 36 new licensee agreements during the quarter, and the number of advisers using the service grew by 100 to a total of 5,649. A year ago, just over 5,000 advisers were on the platform.

The Private Invest offering, which targets high‑net‑worth clients with an integrated non‑custodial model, is seeing growing adoption among advisers whose FUA exceed $1 billion.

“This reflected continued momentum in net inflows of $4.2 billion, alongside positive market movements of $7.5 billion,” the company said. It added that, despite market volatility and recent tax proposals in the Federal Budget, net inflows remained steady when large migrations were excluded.

Drivers behind the inflows

HUB24 attributes the sustained demand for financial advice to demographic trends and Australia’s compulsory superannuation system. The firm notes that the tax changes announced in the latest Federal Budget reinforce the need for professional guidance and enhance the attractiveness of superannuation. “Strong demand for financial advice is underpinned by demographic trends and Australia’s compulsory superannuation system,” the statement read.

Year‑on‑year growth in superannuation inflows helped offset a dip in net inflows to Investor Directed Portfolio Services (IDPS). The company believes that these structural factors, combined with a pipeline of opportunities across new and existing relationships, position it for continued expansion.

Technology rollout and governance

Looking ahead, HUB24 is collaborating with advice practices and licensees to develop “myhub,” an advice technology solution that will act as an ecosystem for leading tech products and an AI‑powered natural language prompt. The firm aims to pilot the service with select clients in the first half of FY 27.

“[myhub] is an ecosystem concept that provides access to leading advice technology solutions and leverages an AI‑powered natural language prompt,” a company spokesperson said. “HUB24 remains on track to launch a pilot of myhub to select clients in 1HFY27.”

Investments in innovative solutions are intended to broaden the platform’s reach and support higher net inflows, according to the statement.

At the close of the financial year, HUB24 appointed Andrew Formica, chair of Magellan, to its board. He joins non‑executive directors Paul Rogan, Catherine Kovacs, Tony McDonald, Rachel Grimes and Michelle Tredenick. Rogan, HUB24 chair, welcomed Formica, saying his experience in scaling complex organisations would be an asset as the platform pursues its strategic goals.