The Netwealth Group Ltd (ASX: NWL) share price is marching higher today.
Shares in the S&P/ASX 200 Index (ASX: XJO) wealth management and technology company closed yesterday trading for $30.64. In morning trade on Thursday, shares are changing hands for $31.35 apiece, up 2.3%.
For some context, the ASX 200 is up 0.3% at this same time.
This outperformance follows the release of Netwealth's September quarterly business update.
Here's what's grabbing ASX investor interest today.
Netwealth share price lifts on funds growth
Investors are bidding up the Netwealth share price today after the company reported $120.8 billion in total funds under administration (FUA) at 30 September. That's up 26.6% on the prior corresponding period.
Netwealth's total FUA increased by $8.0 billion over the three months. That growth was driven by a first-quarter record FUA net flows of $4.1 billion and positive market movement of $3.9 billion.
The company's managed account net flows also posted a record quarter of $1.6 billion. That's an increase of 49.4% from the June quarter.
The Netwealth share price also looks to be getting support, with the company noting that its non-custodial FUA exceeded $1.0 billion for the first time, saying the appeal of this service was gaining traction.
Also showing growth, the company's total number of accounts increased by 3.2% during the quarter, to 167,380 accounts at 30 September.
And the growth in Netwealth's funds under management (FUM) was also a new record at $2.5 billion for the quarter. FUM at 30 September stood at $29.5 billion, up 31.3% on the prior corresponding period.
Netwealth also reaffirmed its previous FY 2026 guidance.
What else happened during the quarter?
The September quarter saw Netwealth announce a strategic partnership with financial market infrastructure provider FinClear. The partnership enables Netwealth to provide individual HIN data and trading access to investors and wealth professionals.
Commenting on the partnership that should help support the Netwealth share price longer term, CEO Matt Heine said:
We're excited to be adding individual HIN administration and reporting for our users, as part of our mission to continuously improve efficiencies, user experiences and customer options as we expand our platform to service greater segments of the Australian wealth management industry including stockbrokers and HNW firms.
When we set out to bring this additional offering to customers, FinClear was the clear choice of provider. We have tried and tested its proprietary tech, expertise and flexibility, and we knew it would be a straightforward and efficient process.
With today's intraday boost factored in, the Netwealth share price is up 19.2% over 12 months, not including dividends.
