Shares in $1.89 billion market cap fintech company Netwealth Group Ltd (ASX: NWL) are up half a percent to $8.00 at the time of writing on the release of its September quarterly business update today.
According to the update, Netwealth has $19.3 billion in funds under administration (FUA) as at September 30 – an increase of $1.3 billion for the quarter and $5.6 billion on the previous year.
Netwealth is producing the goods in terms of platform growth and performance, with its percentage market share of net flows for the 12 months to June 2018 15 times its market share percentage, with Credit Suisse expecting this momentum to continue as inflows from institutional platforms to specialist platforms ramps up.
Netwealth seems to be competitive in its pricing and adept at staying ahead of its prospectus forecasts – a true innovator to watch alongside other go-getters such as Xero Limited (ASX: XRO), Pushpay Holdings Ltd (ASX: PPH) and Afterpay Touch Group Ltd (ASX: APT).
