3 ASX growth shares I’d buy to build long-term wealth

Some ASX growth shares are exciting because they are attached to a hot theme.

I prefer businesses with more practical growth stories. They help families, advisers, consumers, and households solve real problems, and they still have room to grow over time.

The three ASX growth shares in this article all look very different. But I think each could be a strong long-term wealth creator if management continues to execute successfully.

Life360 Inc. (ASX: 360)

Life360 is one ASX growth share I would consider buying for exposure to the changing way families use technology.

The company is best known for its family location and safety app. That may sound simple, but I think the emotional value of the product is what makes it interesting.

Parents want to know their kids have arrived safely. Families want to stay connected without sending constant messages. Drivers want support if something goes wrong. Older family members may want an extra layer of reassurance.

That gives Life360 a role in everyday family life, not just occasional app usage.

The business also has several avenues for growth from here. Subscriptions remain important, but advertising, roadside assistance, driving insights, location-based tools, and artificial intelligence (AI) features could all add to the opportunity over time.

What I like most is that Life360 already has scale with almost 100 million monthly active users. A large user base gives the company room to improve monetisation without needing every dollar of growth to come from new users.

There are risks to consider, including privacy expectations, competition, and the need to keep users engaged. But I think Life360 has the sort of global consumer platform that could become much more valuable over the next decade.

Hub24 Ltd (ASX: HUB)

Hub24 is another ASX growth share I rate highly.

The company provides investment platform technology used by financial advisers and their clients.

I think it is a very attractive niche. Financial advice is becoming more demanding. Clients may have superannuation, managed accounts, pensions, tax considerations, estate planning needs, and changing goals. Advisers need systems that help them manage that complexity without drowning in administration.

Hub24 sits right in that workflow.

The appeal is not only about the growth of funds under administration. It is the way modern platforms can become central to an advice practice. Once advisers are using a platform every day, switching can be inconvenient and costly.

I also think there is still plenty of room for market share gains. Wealth management in Australia is large, and advisers continue to look for better technology, better service, and more efficient tools.

Competition remains strong, and platform businesses can be sensitive to market falls. But I think Hub24 has built a strong brand in an industry where trust and service quality matter.

Breville Group Ltd (ASX: BRG)

Breville is a different kind of growth share.

It is not a software platform or app business. It is a premium appliance company with a global brand.

What I like about Breville is that its best products can become part of daily routines. Coffee machines are the clearest example. For many customers, at-home coffee is not a one-off purchase decision. It becomes a habit.

That gives Breville a strong foundation if it can keep designing products that feel premium, useful, and worth paying more for.

I also think the company still has international growth potential. A good brand can travel if the product quality, design, distribution, and pricing are right.

There are risks around consumer spending, competition, tariffs, and currency movements. But I like Breville’s mix of brand strength, product innovation, and global opportunity.

Foolish takeaway

The shares I like most for long-term growth are not always the loudest names in the market.

I am drawn to companies that can become more useful to their customers over time. Life360 can deepen its role in family safety, Hub24 can become more important to financial advisers, and Breville can keep building a global premium appliance brand.

If these businesses keep improving, I think they could reward patient investors over the years ahead.

The post 3 ASX growth shares I’d buy to build long-term wealth appeared first on The Motley Fool Australia.

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Motley Fool contributor Grace Alvino has positions in Hub24. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Hub24 and Life360. The Motley Fool Australia has positions in and has recommended Life360. The Motley Fool Australia has recommended Hub24. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.