Netwealth Group (ASX: NWL) reports strong March 2022 quarter results

Netwealth Group (ASX: NWL) has released its March 2022 quarterly updates and outlook

• Funds under administration increased from $41,840 million in quarter ending March 2021 to $57,585 million in quarter ending March 2022.
• The managed account balance of $11.7 billion as at 31 March 2022, an increase of $3.0 billion from 31 March 2021.
• The company also highlighted that it will launch their new non-custodial administration service further enhancing their capability in high net worth and ultra-high net worth market segment.
• FUA net inflows guidance for FY2022 forecasted to exceed $13.5 billion, subject to timing of client transitions and no deterioration in market condition.

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