Retail FUM up 5.7% in March quarter

New figures reveal a significant bump in funds under management during the first quarter of 2019 as one platform provider significantly outpaces its competitors in annual growth.

Netwealth recorded a 30.4 per cent growth in FUM over the year ending March 2019, according to Strategic Insight, well ahead of the other top 10 platforms in terms of FUM.

Macquarie was the only other platform to record double-digit growth at 10 per cent over the past year.

Other platforms to record significant annual growth include Mercer (5.3 per cent), Colonial First State (5.1 per cent), IOOF (5.1 per cent), AMP (4.2 per cent) and BT Financial (2.6 per cent).

Source: IFA