Company Interview / Super inflows drive HUB24 profit

Key points:

HUB24 (ASX:HUB) delivers 60% profit increase and upgrades FY27 FUA outlookAndrew Alcock identifies AI as key to competitiveness and industry productivityNew retirement solution developed in conjunction with TALM&A not a priority as organic growth continues to outpace peers

HUB24 (ASX:HUB) has reported a significant jump in its first half underlying net profit after tax, rising 60% to $68.3 million, with record platform inflows resulting in a 35% rise in underlying earnings to nearly $105 million. Revenue has climbed 26% to over $245 million, while total funds under administration (FUA) now exceed $152 billion. Shareholders will see their interim dividend double on the previous half, now at 36 cents a share, fully franked. HUB24 has also upgraded its full-year 2027 FUA target to the $160 billion to $170 billion range, reflecting growing momentum in the business.

Managing director Andrew Alcock highlights the importance of technology and artificial intelligence, viewing AI as a significant, ongoing opportunity rather than a threat. He describes HUB24’s proprietary AI products and infrastructure as central to their ability to bridge Australia’s long-standing underinvestment in wealth and advice technology, especially post-Royal Commission. The company is set to launch a new retirement solution in partnership with TAL and is developing My HUB, an open platform designed to improve advisor productivity.

Alcock indicates HUB24's strategies to drive further market share growth include delivering products for a broad spectrum of clients and prioritising technology investment. He rules out M&A plans, noting the company's robust funds flow and product suite.