HUB24 booked net inflows of $15.8 billion for FY24, a 62% increase from the previous year. The fourth quarter of FY24 saw net inflows of $5 billion, up 138% year-over-year.
Key drivers included a $1.8 billion migration from Equity Trustees. As of June 30, HUB24's total funds under administration reached $104.7 billion.
During the quarter, HUB24 signed 29 new distribution agreements, raising the adviser count to 4,525, a 13% increase.
The Equity Trustees migration, totalling $1.8 billion this quarter, is on track for an anticipated $5 billion by the first half of FY25.