Netwealth's Bull Sees Positives in Latest Acquisition
Dow Jones
Yesterday
0421 GMT - Netwealth's bull at Jefferies sees positives to the Australian wealth manager's acquisition of advice-automation platform Paradino. Analyst Simon Fitzgerald keeps a buy rating on the stock, telling clients that improving advisers' efficiency increases their capacity, grows accounts per adviser, ultimately resulting in more funds-under-administation inflows. The customer economics of the Paradino's subscription model are attractive and the platform provides a new adviser acquisition channel, he adds. Furthermore, full ownership of Paradino is seen by Fitzgerald as offering Netwealth additional flexibility compared with rival Hub24's investment in Finura Digital. Jefferies maintains a target price of 29.30 Australian dollars. Shares are flat at A$18.77.
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