Netwealth snaps up AI-powered advice platform Paradino in a deal worth up to $39 million. 15 September 2026 Wealth management platform Netwealth Group (ASX: NWL) has agreed to acquire Paradino, an Australian AI-enabled adviser workflow automation platform, in a deal worth up to $39 million as it pushes to become what it calls the country's leading AI-powered wealth management platform. Australia Business Directory The acquisition, which comprises a $20 million upfront payment, supports Netwealth's Dx30 ambition of doubling its funds under administration over four years by embedding AI-driven productivity tools directly into its platform. The platform developed by Paradino, which was founded in 2024 by Alex Gassner and Josh Ratnarajah, automates time-intensive advice workflows, from file notes and client communications to compliance documentation, claiming to save financial advisers more than nine hours per week or a 38 per cent efficiency gain. The deal will see Netwealth pay $15 million in cash and $5 million in escrowed Netwealth shares to acquire 100 per cent of Paradino, formally known as Scale Up Platform Solutions Pty Ltd. A further $9 million in earn-out and retention payments is payable over four years, bringing maximum consideration to $29 million. Netwealth has also committed to investing an additional $10 million in Paradino's product development over two years, taking the total potential outlay to $39 million. At the end of August Paradino had annualised recurring revenue of $1.6 million and 535 subscribers across 336 advice businesses, with less than 1 per cent monthly churn. Revenue has grown sharply from $73,000 in FY25 to $778,000 in FY26, although the business is not yet profitable and is expected to post an EBITDA loss of about $3 million in FY27. Around 100 of Paradino's subscribers are already Netwealth platform users, providing an immediate integration pathway. Netwealth says its Unify platform already aggregates, organises and synchronises data from dozens of sources and that, over time, the company will combine this data with Paradino's AI-enabled automation capability to extend AI-driven advice workflows. "Our focus is on supporting advisers to grow their businesses and achieve their ambitions," says Netwealth CEO Matt Heine. "A key part of this is helping advisers increase productivity so they can support more clients and spend more time delivering advice. "This acquisition expands Netwealth's capability beyond platform administration into key advice workflows, increasing our support for advisers across a larger part of the advice process." Heine says the plan is to create Australia's leading AI-enabled wealth management and adviser productivity platform. "By combining Paradino's workflow capability with Netwealth's platform, data and adviser ecosystem, we look forward to helping our existing and future adviser clients operate more efficiently, improve outcomes for their clients and support the growth of both businesses," he says. "This will also help unlock the full value of our Unify data management platform and further drive AI-enabled automated processes." Paradino co-founder Alex Gassner says Netwealth's platform, data assets, investment capacity and distribution network will accelerate Paradino's product roadmap. "We founded Paradino to help advisers overcome the time and cost constraints that limit the number of clients they can effectively support," he says. "Its vision has always been to enable advisers to serve significantly more clients without compromising the quality or personalisation of advice, and advances in AI are making that increasingly possible. "Netwealth's platform, data, investment capacity and distribution provide a unique opportunity to accelerate our roadmap and deliver even greater value to Australian advisers and their clients." Australia Business Directory Gassner says the startup's growth to date reflects the value advisers place on solving some of the most time-intensive and complex parts of the advice process. "We believe there is a much broader opportunity ahead, and partnering with Netwealth accelerates our ability to deliver on that vision," he says. Netwealth last month reported record FY26 results with total income of $391.1 million, up 20.6 per cent, adjusted EBITDA of $192.9 million, up 18 per cent, and adjusted net profit after tax of $135.4 million, up 16.2 per cent. Funds under administration hit $135.7 billion at year-end, a 20.3 per cent increase. Netwealth has guided to net flows of $18 billion to $20 billion in FY27 and an EBITDA margin of 47 per cent. The Paradino deal, which is expected to settle by the end of October, is being funded from existing cash reserves. Australia's business news. Free. Always. Join thousands of founders, investors and executives who read Business News Australia every morning. No paid subscriptions, just free. Unsubscribe anytime. Partner Content

Netwealth Group has agreed to acquire Australian AI-enabled adviser workflow and automation platform Paradino for $20 million upfront, comprising $15 million in cash and $5 million in shares. An additional $9 million in earn-out and retention payments may be paid over four years subject to milestones. Paradino serves over 500 financial advisers and generates $1.6 million in annual recurring revenue. Its Athena AI platform automates key advice workflows including document preparation, client communications and meeting notes. Netwealth will invest a further $10 million in Paradino over two years to accelerate product development. The acquisition expands Netwealth's capabilities beyond platform administration into advice workflows, supporting its strategy to improve adviser productivity. Paradino currently operates at a loss and is expected to record an EBITDA loss of approximately $3 million in FY27. Completion is expected by end of October 2026.

Netwealth wins court ruling over First Guardian dispute. By Electra Pembridge August 23, 2026 An Australian Federal Court ruled that Netwealth violated financial services laws by including the First Guardian Master Fund as an investment option for superannuation members. Court finds Netwealth breached legal obligations. The judgment, issued on 20 August by Justice McEvoy, confirmed that Netwealth Superannuation Services and Netwealth Investments Limited did not act efficiently, honestly, or fairly when offering the fund. The court determined the company failed to gather or assess adequate information about First Guardian before making its Diversified Class and Growth Class options available. Netwealth had already admitted to the failures in December, agreeing to a $101 million compensation package for affected members. The ruling formalized that admission, stating the company did not conduct sufficient independent inquiries to evaluate the fund's investment risks. It also neglected to warn members about potential illiquidity issues in the products. ASIC chair Sarah Court stated the case demonstrated the responsibility of superannuation trustees to perform thorough due diligence. "Trustees must take proactive steps to identify and respond to investment risks before members face harm," she said. Over 1,000 members suffered losses before Netwealth provided compensation. Netwealth responds to fallout. Netwealth CEO Matt Heine said the court's confirmation of the settlement allows the business to move forward. "The compensation payments ensured affected members' superannuation accounts had the capital invested in First Guardian returned, reducing distress caused by the collapse," he said in an ASX statement. As part of its response, Netwealth Superannuation Services agreed to an enforceable undertaking with APRA. An independent expert will oversee the changes. The court's decision concludes the legal case, but the industry may see wider effects. Trustees now face clearer expectations: due diligence is essential to protecting retirement savings rather than exposing them to unnecessary risk. The compensation was paid in January, separate from the court-ordered payment of ASIC's legal costs. Those costs will be covered as agreed or determined through taxation if no settlement is reached. Netwealth's share price showed little change after the ruling, indicating investors had already accounted for the financial and reputational consequences. The case highlights the need for stricter oversight in financial planning sectors, where regulatory gaps can lead to significant member losses.