NWL 2.76% $19.39 netwealth group limited

Investment Trends Results

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    Independent platform Netwealth has beaten its larger incumbent rivals for a third year running in an annual review of the $774 billion financial adviser platform market.

    A report released on Monday by specialist financial researcher Investment Trends reviewed 19 master trust and wrap platforms across 522 key characteristics, tracking adviser preferences during 2017. Netwealth was ranked number one for having the best overall functionality for a third consecutive year.

    Netwealth's independent platform competitors and relative minnows Hub24 and OneVue round out the top three, with Colonial First State's FirstWrap and Westpac's Asgard eWrap platform holding onto four and five in the rankings.

    Macquarie Wrap fell out of the top five in the 2017 Platform Benchmarking and Competitive Analysis Report, which is considered the key industry rating for platforms.


    While giants Macquarie and the Commonwealth Bank's Colonial still collectively get 43.5 per cent of net fund flows (or new business), Hub24 with 9.8 per cent and OneVue with 3.5 per cent are proving to be real competitors.

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    Netwealth currently captures around 19 per cent of new business despite having only 1.8 per cent market share of funds under administration (FUA). Credit Suisse analysts tip its FUA to double in the next three years.

    Platform providers across the retail investment industry hold $774 billion in FUA, with new funds flow accounting for $24 billion in 12 months to September 2017.

    "Legislated superannuation growth underpins the growth of the financial services sector. Since 2013 the independent platforms are increasingly taking market share away from the large incumbents," said OneVue chief executive Connie Mckeage.

    Investment Trends senior analyst King Loong Choi said platforms that help advisers work more efficiently are coming out on top.


    "Platforms like Hub24, Netwealth and OneVue have recently introduced the ability for advisers to generate records of advice on platform, creating even greater efficiencies in the advice delivery market," said Mr Choi.

    Both Netwealth and HUB24 stand out for their reporting, online business management and decision support tools. On the other hand, the relative strengths of OneVue revolve around its reporting and product offering, while CFS FirstWrap holds a competitive edge with its online business management tools, said Investment Trends.



    Read more: http://www.copyright link/business/...vestment-trends-20180304-h0wyl3#ixzz58rYyJG9k
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