Netwealth is still sitting on a hefty PE of over 50 but their growth trajectory is still heading in the right direction. There were Funds under management net inflows of $2.9B for the September quarter which I think is strong given current market volatility. Total FUA is now at $58.1B. Their mobile integration with Xeppo is due to be launched in Q2 of 2023 which will hopefully provide a kick along to grabbing further market share from the big boys.

Netwealth have provided the market with their full year results and the depressed share price on offer earlier in the year looked to have been a solid opportunity to get into a nicely growing business at an attractive price. You can find their announcement here but the graphs that really standout for me are below. Rated number 6 in the industry by market share with 5.8% but tops with net fund inflows means their is still plenty or runway for growth (also highlights how well HUB24 are travelling too).

I had this company on my watchlist for well over a year before I pulled the trigger when their share price was punished after their results announcement back in February. Give next month they will unveil their latest quarterly update, today I purchased my full allocation of shares IRL. Netwealth's market share sits at roughly 5-6% but their inflows sit comfortably higher than their current market share. There appears to be heavy investment back into the business (which I like for the long term) specifically around their launch of their app and once rolled out has a strong potential to supercharge growth.

I still am a little perplexed by the large pullback they suffered but if the next quarterly update surprised to the upside, which management have a history of doing, I don't believe the share price will be seeing these levels for quite some time. No debt, growing and a healthy little div of roughly 1.3% this is a business I'm comfortable having in my portfolio for some time.