Hub24 Ltd (ASX: HUB) shares are rising on Tuesday after the wealth management platform delivered another record-breaking quarterly update.
At the time of writing, the ASX 200 tech stock is up 8% to $106.71.
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What did Hub24 report?
Before the market open, Hub24 revealed that its platform achieved record net inflows of $5.6 billion in the second quarter of FY 2026. This helped lift total funds under administration (FUA) to a new high of $152.3 billion at 31 December 2025.
The standout metric from the update was quarterly platform net inflows of $5.6 billion, which were up 2% on the prior corresponding period or up 42% when excluding large migrations. This contributed to record half-year platform net inflows of $10.7 billion, representing a 13% year-on-year increase.
As a result, platform FUA climbed 29% year on year to $127.9 billion, while Portfolio, Administration and Reporting Services (PARS) FUA increased 11% to $24.4 billion. Combined, total FUA rose 26% year on year, reinforcing HUB24's position as one of the fastest-growing platforms in the Australian wealth market.
According to the latest Plan for Life data, Hub24 ranked first for both quarterly and annual net inflows. This marks its eighth consecutive quarter in the top spot. Its market share now stands at 9.3% as at September 2025, up from 7.9% a year earlier.
Adviser growth
Hub24's growth is being supported by increasing adviser adoption. During the quarter, it signed 34 new distribution agreements, while the number of advisers using the platform rose to 5,277. This is up 8% year on year.
Management highlighted that demand from both new and existing licensees continues to provide a strong pipeline of opportunities, with momentum carrying through into the second half of FY 2026.
Commenting on the half, the company said:
Strong momentum in 1HFY26 reflects continued opportunities for growth driven by ongoing demand for professional advice in addition to industry transformation. HUB24 remains committed to investing to deliver our strategy to capitalise on these opportunities and further enhance our market leading proposition.
Product innovation
Beyond flows, investors appear encouraged by Hub24's ongoing investment in product innovation.
During the quarter, the ASX 200 tech stock announced the development of an Innovative Lifetime Retirement Solution (IRIS) in partnership with TAL, which is scheduled to launch in the second half of FY 2026. The solution is designed to provide income for life while retaining the flexibility of an account-based pension.
It also showcased a prototype of myhub, which is an AI-enabled ecosystem aimed at improving productivity for advice practices. A pilot program is planned for the first half of FY 2027.
