Investment platform Netwealth and fintech platform iCapital have entered a strategic partnership to distribute global private market and hedge fund investments to financial advice firms and their wholesale clients across Australia.
As part of the partnership, Netwealth will initially serve as iCapital’s exclusive distribution partner for funds sponsored by iCapital.
Additionally, iCapital will provide Netwealth with product support through its in-house research and diligence team, and a bespoke suite of educational tools.
Netwealth recently achieved the highest industry platform 12-month net funds flows and increased market share to 7.1 per cent, according to the latest Plan for Life quarterly platform market update. Funds under administration (FUA) increased to $72.0 billion for the September quarter, comprising FUA net inflows of $2.1 billion and negative market movement of $0.4 billion. FUA also increased by 23.9 per cent (or $13.9 billion) for the 12 months to 30 September 2023.
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