Highlights

  • HUB24 has set an FY28 Platform FUA target of $186 billion to $200 billion, excluding PARS FUA, building on 20% total FUA growth in FY26.
  • Platform net inflows reached a record $18.9 billion in FY26, with the company ranked the highest platform for net inflows for ten consecutive quarters.
  • Market share rose to 9.9% at 31 March 2026 from 8.6% a year earlier, with the platform’s FUA ranking improving to sixth from seventh.
  • HUB24 plans to pilot its myhub ecosystem with selected clients in the first half of FY27, alongside completing the proposed Acquisition of HTFS Nominees.

HUB24 (ASX:HUB) is entering FY27 on the back of record net inflows and rising market share, with the company’s growth outlook increasingly framed around its FY28 Platform FUA target and the rollout of new platform capabilities, including the myhub ecosystem.

FY28 FUA Target Sets the Growth Benchmark

HUB24 has established an FY28 Platform FUA target of $186 billion to $200 billion, excluding PARS FUA — a marker against which the market will assess ongoing platform momentum. Platform FUA had already reached $139.5 billion at 30 June 2026 and $144.1 billion by 13 August 2026, with record net inflows of $18.9 billion during FY26 providing the base from which that target is being built.

Market Share Gains Continue to Build Scale

HUB24’s Market Share rose to 9.9% at 31 March 2026 from 8.6% a year earlier, moving its FUA ranking up to sixth from seventh among platform providers. Active adviser numbers on the platform grew 11% to 5,649, supported by 148 new licensee agreements — a base of adviser relationships that underpins the company’s ability to keep growing net inflows.

Product Roadmap: myhub and HTFS Nominees

Beyond scale, HUB24’s product roadmap is a key part of the forward story. The company plans to pilot its myhub ecosystem with selected clients in the first half of FY27, while also progressing the proposed acquisition of HTFS Nominees, Trustee of the HUB24 Super Fund, subject to APRA and other regulatory approvals, with completion expected in the first half of FY27. Continued platform functionality additions — including lifetime super and expanded pension payment Options — round out the near-term development pipeline.

Investment Spend Is Rising Alongside Growth

Operating expenses increased 19% in FY26 as HUB24 continued investing in technology, personnel and growth initiatives, even as the underlying EBITDA Margin expanded to 42.2%. Whether that Investment pace continues to translate into margin gains, rather than simply funding growth, will be an important Factor to track through FY27.

What to Watch

The pace of progress toward the FY28 FUA target, the outcome of the myhub pilot, completion of the HTFS Nominees acquisition, and whether net inflow momentum and market share gains continue at a similar rate are the key markers for the stock over the coming year.

Conclusion

HUB24’s outlook is anchored to its FY28 Platform FUA target, continued market share gains and a developing product roadmap centred on myhub. With record net inflows as a foundation, the coming year’s platform developments and the pace of adviser and inflow growth will shape how that target is tracked.