Shares in Hub24 slumped after the wealth management technology firm revealed a 23.6 per cent decline in net inflows to its flagship platform and and impairment and cost increases expected to hit the bottom line by about $4.4 million.

Hub24 reported net inflows of $5.8 billion across the business for the December quarter, down 13.6 per cent on the same period the year prior. It reported quarterly net inflows of $2.8 billion to its wealth management platform (used by financial advisers to execute trades and manage client assets), representing a 23.6 per cent decline on the record second quarter of the 2021-22 financial year.