Australian wealth management firm HUB24 (ASX:HUB) has reported that its total Funds Under Administration (FUA) rose by $3.4B in Q4 FY23 to $80.3B.

This included platform FUA of $62.7B, up 26.2% on the previous corresponding period and Portfolio, Administration and Reporting Services (PARS) FUA of $17.6B, up 11.1% on pcp.

HUB24 said its platform net inflows for the quarter were $2.1B, down 14.7% on pcp, whilst it added net inflows had been soft across the market due to economic uncertainty.

In other news, HUB24 completed the acquisition of myprosperity Pty Limited, which will now operate as a business unit within the group.