HUB24 (ASX:HUB) announced record quarterly net inflows of $4 billion for the first quarter of FY25, marking a 44% increase over the prior corresponding period.
Excluding large migrations, the company's total funds under administration reached $113 billion by Sept. 30, a 37% rise from the previous year.
The surge was driven by both strong net inflows and positive market movements.
Platform funds under administration rose to $91.6 billion, up 41% from last year, with the number of advisers using the platform increasing by 195 to 4,720.
The company also reported progress in its EQT migrations, with $1.5 billion of funds under administration migrated in early October, and the total is expected to reach $5 billion by FY25's end.
The strategic alliance with Reach Alternative Investments aims to broaden access to alternative investment options.
"We remain confident in meeting our FY26 Platform funds under administration target of $115-$123 billion," the company said in a statement.
In addition, HUB24 continues to make platform enhancements to improve productivity and account management for advisers.
The company's recent efforts include launching pre-populated advice fee consent forms and enhancing the digital advice fee consent dashboard.
HUB24 is a provider of integrated platform, technology, and data solutions. The company operates the HUB24 Platform, HUBconnect, the Xplore Wealth platform, Class and myprosperity.
The HUB24 Platform offers advisers and their clients a comprehensive range of investment options, including managed portfolio solutions, and enhanced transaction and reporting functionality.