Citi sees positive markets offseting lower flow estimates for Australian wealth platforms

HUB24

01/07/2026 20:53

** Citi says positive market movements will largely offset potentially lower flows for Australian wealth platforms HUB24 HUB.AX and Netwealth NWL.AX in the fourth quarter
** Lowers Q4 net flow forecasts due to potential for lower adviser and client activity after recent Federal budget changes, higher interest rates, and market volatility amid the Middle East conflict
** Still, Citi adds tax changes could support demand for financial advice over the medium term 
** Brokerage sees positive market movement driving funds under administration (FUA) higher than forecasts in Q4 for both HUB24 and Netwealth: HUB24's FUA projected to grow 23% yoy to A$138.2 billion  ($95.29 billion), and Netwealth's FUA to grow 20% yoy to A$135 billion
** Also says trading revenue would support revenue margins in second half of 2026, and increases its revenue margin forecasts
** YTD, HUB24 down more than 20%, and NWL down over 13% 


($1 = 1.4503 Australian dollars)

 (Reporting by Shruti Agarwal in Bengaluru)
 ((Shruti.Agarwal@thomsonreuters.com;))