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Netwealth cashes in on industry transformation Netwealth cashes in on industry transformation The platform provider saw funds under administration soar over the 2020 calendar year, saying it expects to continue benefiting from consolidation in the advice sector. A A As at the end of the 2020 year, Netwealth had $38.8 billion in funds under administration (FUA), a 36.1 per cent rise ($10.3 billion) on the prior corresponding period (pcp). There had been $2.6 billion in net inflows for the December quarter, contributing to its FUA net inflows of $9.2 billion for the 2020 calendar year. Funds under management as at 31 December were $9.3 billion, rising by 15.5 per cent (or $1.3 billion) for the final quarter. During the three months, there had been FUM net inflows of $700 million and market movement of $500 million. ....