Netwealth Reports Record FY26 Total Income of $391.1 Million at 2026 AGM

Aditi Sarkar

11 November 2026 12:32 PM AEDT

Netwealth Reports Record FY26 Total Income of $391.1 Million at 2026 AGM

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Netwealth Group Limited (ASX:NWL) addressed shareholders at its 2026 Annual General Meeting on 11 November 2026, disclosing record total income of $391.1 million for FY26, a $100.7 million compensation payment related to the First Guardian matter, and the acquisition of AI technology provider Paradino.

Key Points

Total income increased by 20.6% to a record $391.1 million in FY26, with growth across all four major revenue streams
Adjusted NPAT increased by 16.2% to a record $135.4 million; statutory net profit after tax was $60.6 million including First Guardian costs
Netwealth paid $100.7 million in compensation to affected First Guardian members by 30 January 2026 following a December 2025 agreement with ASIC
Total FUA reached $135.7 billion at FY26, with market share increasing by 86 basis points to 9.8%
Total dividends for the year were 42.0 cents per share, fully franked, an increase of 9.1%

FY26 Financial Results and Dividend

Netwealth disclosed total income of $391.1 million for FY26, representing a 20.6% increase. Adjusted EBITDA increased by 18.0% to $192.9 million, with an Adjusted EBITDA margin of 49.1%. Adjusted NPAT rose 16.2% to a record $135.4 million. These adjusted figures exclude the $100.7 million First Guardian compensation payment and $4.5 million in associated legal and consulting costs. Statutory net profit after tax, including those items, was $60.6 million. The Board declared a final dividend of 21.0 cents per share, fully franked, paid on 29 September. Total dividends for FY26 were 42.0 cents per share, an increase of 9.1%.

Funds Under Administration Growth and Market Share

Netwealth's total FUA reached $135.7 billion at 30 June 2026, growing by $22.9 billion, or 20.3%, during FY26. The company recorded custodial net flows of $15.0 billion, and total FUA net flows of $15.4 billion, or $16.9 billion before pension payments. Record gross inflows of $32.9 billion were also reported. Netwealth's market share increased by 86 basis points to 9.8%, compared with 6.0% four years prior. FUM grew to $34.6 billion, with Managed Accounts increasing by 29.9% to $30.5 billion. Total industry platform FUA increased by 9.5% to $1.38 trillion, with industry net inflows of $43.2 billion.

First Guardian Matter and Paradino Acquisition

Netwealth reached agreement with ASIC in December 2025 to pay compensation to members of the Netwealth Superannuation Master Fund affected by the First Guardian matter, with $100.7 million paid into member accounts by 30 January 2026. Netwealth Superannuation Services also entered into an enforceable undertaking with APRA, and established Program RISE — Reviewing Investment Standards and Excellence — to deliver investment governance improvements. The filing also noted that a class action has commenced against Netwealth in relation to First Guardian, which the company stated it is defending. In September, Netwealth announced the acquisition of Paradino, described as an Australian provider of AI-enabled advice workflow and automation technology.

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