Netwealth’s shares soared more than 5 per cent after the investment platform reported record gross inflows and a 26.3 per cent jump in funds under administration to $70.3 billion at the end of the financial year.

The company finally “appeared to have stemmed” year-on-year declines in inflows, E&P Financial analyst Olivier Coulon said, even though it was largely driven by a single large transition account.