Is it time to buy these former market darlings?

Financial Journalist
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Forming a bearish view on well-run companies benefiting from powerful trends is never easy. And it’s even harder when those companies, which you previously liked, delivered big returns.

That is true of Netwealth Group and HUB24, the star providers of independent investment platforms. Netwealth, the larger of the two, soared from a $3.70 issue price in November 2017 to a 52-week high of $9.99. HUB24 raced from about $1 in late 2015 to a high of $15.40.

I liked both stocks. They were among the few winners from the Financial Services Royal Commission, with more financial planners expected to move away from the banks and towards independent models of financial advice, and products and services, via the platforms.

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