Netwealth profitability at ‘all-time high’ after $1 billion ASX debut
Newly listed $1.6 billion platform provider Netwealth says it will be able to divert investment funds away from the big banks as it capitalises on the exodus of financial planners from institutions.
"The market dynamics are giving us tailwinds and advisers leaving the banks and the aligned networks provides us with the opportunity to win their business," the company's joint managing director Michael Heine said after unveiling its maiden half-year earnings on Tuesday.
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