HUB24 builds scale as advisers keep joining its platform

HUB24 FUA climbs as inflow growth moderates

HUB24 Limited (ASX:HUB) started FY27 with $168.6 billion in total funds under administration, a 15% increase on the prior corresponding period, even as quarterly platform net inflows eased 23% to $4.0 billion. Platform FUA did most of the work, rising 3% over the quarter to $143.7 billion, while positive market movements added a comparatively modest $0.2 billion.

The result extends the company’s recent expansion from a larger base. Its platform FUA was up 18% year on year, but the flow figure was below the $5.2 billion recorded in Q1 FY26 and the $4.2 billion reported in the June quarter. HUB24 said the current macroeconomic environment had affected short-term investment decisions, particularly across its Investor Directed Portfolio Services business.

Adviser recruitment supports platform market share

HUB24 signed 45 new licensee agreements during the quarter and added 211 active advisers, taking the total to 5,860, up 12% year on year. The company said superannuation gross inflows increased from Q1 FY26, while gross outflows in both superannuation and IDPS remained broadly stable as a percentage of average platform FUA.

Plan for Life data for the period ended 30 June 2026 ranked HUB24 first for quarterly and annual net inflows for an eleventh consecutive quarter. Its platform market share rose to 10.1% from 9.0% a year earlier, and it remained the sixth-largest platform by FUA. That progress follows the wrong.

HUB24 also retained the highest Net Promoter Score in Adviser Ratings’ 2026 Australian Financial Advice Landscape Report and ranked first in nine of 11 platform capability categories. Those rankings are a measure of adviser experience, rather than a direct financial performance metric, but they matter in a market where licensee and adviser relationships help determine platform distribution.

Software and trustee expansion add separate growth levers

The company’s adjacent software operations continued to grow. Class accounts reached 229,651, up 6% year on year, while NowInfinity document orders rose 9% to 244,645 and the number of companies using Corporate Messenger increased 9% to 964,301. PARS FUA was comparatively subdued at $24.9 billion, up 2% year on year, although PARS accounts increased 9% to 9,697.

The pending acquisition of HTFS Nominees, trustee of the HUB24 Super Fund, is progressing but remains subject to regulatory approvals. The transaction was first reported alongside HTFS trustee acquisition earlier in the year; the current release provides no completion date or financial detail for the deal.

myhub rollout puts adoption ahead of revenue proof

HUB24 is preparing to progressively release myhub to platform advisers, with the initial version expected over coming weeks. The product will use an AI-powered natural-language prompt to access a subset of platform data, with functionality intended to expand over time. The release describes myhub as a tool for connecting data, business intelligence, workflows and client experiences, but gives no revenue target, adoption forecast or cost estimate.

The quarter therefore presents a familiar tension for HUB24: the platform continues to gain assets, advisers and market share, while the pace of new money has cooled against a strong comparison. The next financial results should show whether the larger FUA base is translating into corresponding revenue and margin momentum, and whether myhub can move from product rollout to measurable commercial contribution.