S&P/ASX 200 Index (ASX: XJO) financial stock Netwealth Group Ltd (ASX: NWL) is seeking direction today.
Shares in the wealth management and technology company closed yesterday trading for $35.12. In morning trade on Thursday, shares have been wavering from modest gains to modest losses. At time of writing, shares are changing hands for $35.02 apiece, down 0.2%.
This sees the Netwealth share price up 58.0% since the recent closing lows on 7 April.
For some context, the ASX 200 is up 0.6% today, and up 17.0% since 7 April's market close.
Here's what investors are mulling over today.
ASX 200 financial stock posts new records
Investors are sizing up the Netwealth share price following the company's June quarterly update, which provides a look into its FY 2025 performance.
The ASX 200 financial stock reported a record financial year for the 12 months ending 30 June, with Funds Under Administration (FUA) net flows of $15.8 billion. That's up 40% from the FUA reported for FY 2024.
Netwealth's 12-month FUA inflows hit a new all-time high of $29.2 billion.
As at June 30, the company had total FUA of $112.8 billion. That's up $8.7 billion over the quarter, which includes $3.8 billion of FUA net flows and $4.9 billion of positive market movement.
Total FUA increased by $24.8 billion, up 28%, for FY 2025. That includes $15.8 billion FUA net flows and $9.0 billion from market movement.
The June quarter also saw the ASX 200 financial stock post a record increase of 6,496 accounts, or up 4%, to 162,234 accounts as at 30 June. Accounts increased by 13% across all of FY 2025.
Netwealth also delivered Funds Under Management (FUM) net flows of $1.1 billion for the quarter, up 16% from the prior corresponding quarter. Total FUM increased by $6.5 billion to $27.0 billion, up 32% year on year.
What now?
Looking at what could impact the ASX 200 financial share in the year ahead, the company said it is continuing "to deliver meaningful platform enhancements" to meet its clients' needs.
According to management:
We remain confident in our net flows outlook for FY26 and beyond, across a broad range of client groups and customer tiers. This confidence is supported by strong levels of FUA inflows and new account openings in Q4, robust transition pipelines and continued success in attracting new advisers and their clients.
Netwealth said it remains in a solid financial position, with strong EBITDA margins.
The ASX 200 financial stock is debt-free and cited "significant cash reserves".
