Extremely pleased with the funds growth this quarter. Delighted that previously guided EBITDA will either be met or a small beat.
Note that today it was announced competitor Praemium is acquiring Powerwrap which would give them a combined FUA behind Netwealth but ahead of Mercer and also HUB24.
FUA as at March 2020
Netwealth $28 billion (today’s announcement $31.5 billion)
Praemium/Powerwrap $27 billion
Mercer $22 billion
HUB24 $15 billion
Ann: June 2020 Quarterly Business Update, page-2
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