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Netwealth delivered a strong first-half result on Wednesday, with solid numbers across the board - strong net flows, expanding margins, and more than 20,000 new accounts, a first for the company. Netwealth has chosen to report adjusted numbers this half, stripping out the First Guardian impact, a shadow that CEO Matt Heine acknowledged, over what was nonetheless a “fantastic period” for the company. "It was a tale of two cities," Heine said of the last six months. "To quote Charles Dickens, it was the best of times and the worst of times." Read the summary here: http://bit.ly/4b0UXJp This interview was filmed Wednesday, 18th February, 2026. Timecodes: 00:03 - Introduction 00:20 - The number one metric investors should focus on 01:34 - "It was the best of times and the worst of times" 02:17 - Net flows 03:33 - Adviser adoption and client migration trends 05:06 - Internal metrics Netwealth focuses on 06:03 - Product development 07:38 - The next opportunity to gain market share 09:45 - What investors need to be paying attention to over the next 12 months