Avalanche of funds in through the door!, page-4

NWL trading at Fwd PE(FY18) of like 60x.
HUB trading at Fwd PE (FY18) of like 110x.

Hardly trading at a similar PE. The only reason Hub has a better growth profile is because it is starting from a much smaller base, about half NWLs FUMA.

Both are fiercely competitive, highly innovative and securing a significant market share.

NWL currently has much higher net flows though, so will be interesting if HUB can catch up in that respect, or whether HUB can finally take that coverted No. 1 spot off them in the Investment Trends surveys. Doubt Netwealth will fall asleep on the job like all the institutional aligned platforms have in the past.

Both are extremely successful companies and whilst both are fierce competitors to each other, the overwhelming majority of market share they take won't be off each other, and so I see very bright futures for both, so invested in both.