Category: Stock Market

As earnings season rumbles on, two ASX shares that have generated positive results are HealthCo Healthcare and Wellness REIT (ASX: HCW) and MLG Oz Ltd (ASX: MLG). 

Thanks to positive earnings results, both have received strong ratings from the team at Morgans. 

Here is what the broker had to say. 

HealthCo Healthcare and Wellness REIT

HealthCo Healthcare and Wellness REIT holds a $1.6 billion portfolio of 36 properties including hospitals, aged care, childcare, life sciences and research facilities as well as primary care and wellness assets.

In its HY26 results, the company reported: 

• Revenue from ordinary activities up 6% to $30.5 million
• Revenue, including income from the share of losses/profits of equity accounted investees was down 51% to $14.7 million. 

Additionally, the company could be set to pay a dividend yield of 9%.

Its share price has jumped almost 10% since Monday on the back of this news. 

Following the results, the team at Morgans upgraded this ASX REIT to a speculative buy recommendation. 

This included a price target of $1.05 per share. 

From yesterday’s closing price of $0.71, that indicates an upside of 47.8%. 

HCW is edging towards a negotiated resolution for the Healthscope assets. Importantly, rent has been paid in full across the portfolio and HCW has executable agreements with alternative operators for all 11 hospitals – with new long-term leases at unchanged face rents (with incentives), should Healthscope breach the lease. Moderate gearing of 28.5% leaves HCW well-positioned to navigate the uncertain timing and gearing impacts from a managed decline to asset values.

MLG Oz

MLG Oz Ltd is a Kalgoorlie-based integrated mining services and resource asset management company.

It released HY26 Results on Tuesday that included: 

• Statutory Revenue of $287.2 million, up 5.2%, compared to the prior corresponding period (pcp).
• Statutory Net Profit After Tax (NPAT) up 73.2% to $7.1 million (pcp $4.1 million).
• Pro-forma Earnings before Interest, Tax, Depreciation and Amortisation (EBITDA) of $36.5 million, up 24.5% on the pcp; pro-forma EBITDA margin of 12.8% (pcp 10.9%).

Its share price climbed higher on these results and is now up 23% year to date. 

In a note out of Morgans, the broker increased its price target following these results to $1.20 (previously $1.00). 

From yesterday’s closing price of $1.07, that indicates a further upside of 12.15% for these ASX shares.

1H26 was ahead of expectations at all operating metrics. Earnings grew substantially (EBITDA +25% YoY) despite a relatively subdued top-line (+5%), which is indicative of a steady portfolio of haulage projects and a renewed focus on margins. MLG reinstated dividends which signals confidence in the outlook and the company’s financial position.

The post Two ASX shares with big upside post earnings results appeared first on The Motley Fool Australia.

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Motley Fool contributor Aaron Bell has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

If I were building a portfolio designed to last decades, I would keep it simple.

For true buy-and-hold investing, I want broad diversification, structural growth exposure, and low costs. Two Vanguard exchange-traded funds (ETFs) that tick those boxes for me right now are Vanguard FTSE Asia Ex-Japan Shares Index ETF (ASX: VAE) and Vanguard Diversified High Growth Index ETF (ASX: VDHG).

They play very different roles, but together they capture both global growth and disciplined diversification.

Vanguard FTSE Asia Ex-Japan Shares Index ETF

This ETF provides exposure to around 1,800 stocks across fast-growing Asian economies, excluding Japan. Its country allocation is heavily weighted toward China (32%), Taiwan (22.1%), India (18.6%), Korea (14.5%), and Hong Kong (4.8%).

In other words, it gives investors direct exposure to the engines of global economic expansion.

Its top holdings include Taiwan Semiconductor Manufacturing Company, Tencent, Samsung Electronics, Alibaba, and SK hynix. These are not speculative micro-caps. They are dominant regional champions operating in semiconductors, technology, banking, insurance, and consumer sectors.

I like this Vanguard ETF because it captures demographic growth, rising middle classes, and increasing digital adoption across Asia. It also diversifies away from the US-heavy nature of many global portfolios.

It won’t outperform every year. Emerging markets can be volatile. But over a multi-decade horizon, I believe exposure to Asia is essential. That is why I see the VAE ETF as a buy-and-hold forever ETF.

Vanguard Diversified High Growth Index ETF

This ETF invests across multiple Vanguard index funds, targeting approximately 90% growth assets and 10% defensive assets. Its strategic asset allocation includes Australian shares, international shares (both hedged and unhedged), emerging markets, international small caps, and fixed income.

For investors who want simplicity, I think this structure could be incredibly powerful.

Instead of picking regions or rebalancing manually, the Vanguard Diversified High Growth Index ETF handles the diversification internally. It spreads capital across Australian shares (around 36%), international shares (over 40% combined when including hedged exposure), emerging markets, small companies, and bonds.

That built-in diversification reduces reliance on any single country, sector, or theme. It also smooths out some volatility compared to a pure equity portfolio, while still maintaining a strong growth tilt.

I see this Vanguard ETF as an ideal set and forget ETF. If someone told me they wanted one fund to hold for 20 or 30 years and didn’t want to tinker with allocations, this would be near the top of my list.

Foolish takeaway

For me, buy-and-hold investing is about owning broad exposure to long-term growth without constantly trying to outsmart the market.

The VAE ETF gives direct access to Asia’s expanding economies. The VDHG ETF offers a diversified, growth-focused portfolio in a single trade.

Different roles, different risk profiles, but both are ETFs I would feel very comfortable holding forever.

The post 2 Vanguard ETFs to buy and hold forever appeared first on The Motley Fool Australia.

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• The ASX ETFs I think could beat the Australian share market over the next 5 years
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Motley Fool contributor Grace Alvino has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Taiwan Semiconductor Manufacturing and Tencent. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Alibaba Group. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Beating the market isn’t easy. Most exchange traded funds (ETFs) simply aim to track an index. But some funds are designed to tilt toward specific regions, factors, or styles that can outperform when conditions are right.

If 2026 turns into a year of sector rotation and shifting leadership, these three ASX ETFs could have what it takes to outperform the broader market.

Betashares Asia Technology Tigers ETF (ASX: ASIA)

The first ETF that could beat the market in 2026 is the Betashares Asia Technology Tigers ETF.

While US tech giants have dominated headlines for years, parts of Asia’s technology ecosystem remain relatively underappreciated. This fund focuses on leading technology stocks across China, South Korea, Taiwan, and other key Asian markets.

This includes firms involved in ecommerce, semiconductors, internet platforms, and digital payments. Many of these companies sit at the heart of regional consumption and manufacturing supply chains.

If global investors rotate toward Asia in search of growth at more reasonable valuations, the Betashares Asia Technology Tigers ETF could benefit from both earnings momentum and multiple expansion.

Betashares Global Quality Leaders ETF (ASX: QLTY)

Another ASX ETF with potential to outperform is the Betashares Global Quality Leaders ETF.

It focuses on shares with strong balance sheets, high returns on equity, and consistent earnings growth. In uncertain markets, quality tends to matter more.

When investors become selective and move away from speculative names, capital often flows toward businesses with competitive advantages and predictable cash flows.

That quality bias could prove advantageous in 2026, particularly if volatility remains elevated and markets reward earnings resilience over hype. This fund was recently recommended by analysts at Betashares.

VanEck MSCI International Value ETF (ASX: VLUE)

The third ASX ETF to consider is the VanEck MSCI International Value ETF.

After a long stretch where growth stocks led global markets, value shares have periodically shown signs of revival. This fund targets international stocks that screen attractively on valuation metrics such as price-to-book and earnings multiples.

If 2026 sees a rotation away from expensive growth stocks and toward more reasonably priced businesses, value strategies could outperform.

The VanEck MSCI International Value ETF offers diversified exposure to this theme across developed markets, without requiring investors to pick individual contrarian stocks. It was recently recommended to investors by analysts at VanEck.

The post 3 ASX ETFs that could beat the market in 2026 appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has positions in Betashares Capital – Asia Technology Tigers Etf. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The team at Morgans has been working overtime looking at the countless results releases this week.

Let’s see what the broker thinks of three very big results and whether it thinks these ASX 200 shares are now buys, holds, or sells. Here’s what you need to know:

BHP Group Ltd (ASX: BHP)

Morgans was impressed with BHP’s performance during the first half, noting that its copper business drove the strong result. But its main positive was the announcement of a silver stream for the Antamina operation.

However, due to its current valuation, the broker has held firm with its hold rating on BHP’s shares. It said:

A strong copper-driven 1H26 result, but the highlight was a savvy deal monetising Antamina’s silver stream for value equal to consensus valuation of the entire asset. Earnings quality continues to step forward, maintaining robust operational and cost performances across the portfolio. Injecting >US$6bn cash in H2 more than offsets Jansen. Maintain HOLD rating.

Seek Ltd (ASX: SEK)

This job listings company’s half-year result was in line with expectations. And while the broker has AI disruption concerns, it believes the risk-reward is favourable at current levels and has upgraded Seek shares to a buy rating with a $27.50 price target. It said:

SEK’s 1H26 result was largely as per expectations with net revenue (+12% on pcp), Adjusted EBITDA (+19% on pcp) and adjusted NPAT (+35% on pcp) all broadly in line with Visible Alpha consensus and MorgansF. We make only marginal adjustments to our forecasts taking into account the updated guidance.

Whilst our DCF-derived price target remains unchanged at A$27.50 the recent sharp share price pullback now results in ~70% TSR upside. We move to a Buy recommendation accordingly, though SEK has still many questions to answer on the AI threat.

Treasury Wine Estates Ltd (ASX: TWE)

Wine giant Treasury Wine delivered a result that was in line with expectations but weak overall.

The broker isn’t sure that 2027 will be much better and expects a return to growth in 2028. In light of this, it continues to rate the company’s shares as a hold. It said:

TWE’s 1H26 result was weak but was broadly in line with guidance. Leverage was well above the company’s target range. Consequently, and in line with our expectations, the Board did not declare an interim dividend. TWE reiterated that 2H26 EBITS is expected to be higher than the 1H26. It is too early to call whether TWE can grow earnings in FY27.

We think this will not occur until FY28 given the priority to reduce customer inventory in the US and China. It will take time for new management to deliver more acceptable returns and for TWE to rebuild credibility with the market. We maintain a HOLD rating.

The post Buy, hold, sell: BHP, SEEK, and Treasury Wine shares appeared first on The Motley Fool Australia.

More reading

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Motley Fool contributor James Mickleboro has positions in Treasury Wine Estates. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Treasury Wine Estates. The Motley Fool Australia has positions in and has recommended Treasury Wine Estates. The Motley Fool Australia has recommended BHP Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.

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Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Catapult Sports, Netwealth Group, Technology One, and The Lottery Corporation. The Motley Fool Australia has positions in and has recommended Catapult Sports and Netwealth Group. The Motley Fool Australia has recommended Challenger, Technology One, and The Lottery Corporation. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Many of Australia’s top brokers have been busy adjusting their financial models and recommendations again. This has led to the release of a number of broker notes this week.

Three ASX shares that brokers have named as buys this week are listed below. Here’s why their analysts are feeling bullish on them right now:

Alkane Resources Ltd (ASX: ALK)

According to a note out of Bell Potter, its analysts have retained their buy rating and $1.95 price target on this gold miner’s shares. This follows the release of a half-year update that revealed a step-up in operational and financial performance in the second quarter. The broker believes that if Alkane maintains consistent delivery at this level, the market will continue to positively re-rate its shares. Outside this, it likes the company due to it offering multi-mine gold and antimony exposure across three attractive jurisdictions, a strong balance sheet, and an operating platform focused on organic and inorganic growth options. The Alkane Resources share price is trading at $1.67 on Wednesday.

Paladin Energy Ltd (ASX: PDN)

Another note out of Bell Potter reveals that its analysts have retained their buy rating and $15.30 price target on this uranium producer’s shares. The broker was pleased with Paladin Energy’s half-year results, highlighting that revenue and costs were slightly better than expected. This led to a beat on the bottom line. Looking ahead, Bell Potter notes that Paladin Energy is positively exposed to rising uranium markets, with ~53% exposure to spot prices out to 2030. It also points out that production at LHM continues to improve. The only risk it sees is water disruptions as it enters a seasonally tricky period known for algal blooms which impact availability from the desalination plant. The Paladin Energy share price is fetching $11.60 at the time of writing.

Seek Ltd (ASX: SEK)

Analysts at Morgans have upgraded this job listings company’s shares to a buy rating with a $27.50 price target. This follows the release of a half-year result that was largely in line with expectations. Seek posted a 12% increase in revenue and a 35% jump in net profit. In light of this, Morgans thinks that recent share price weakness has created a buying opportunity for investors. However, it concedes that Seek still has many questions to answer on the AI threat. The Seek share price is trading at $15.98 this afternoon.

The post Top brokers name 3 ASX shares to buy today appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Bell Financial Group Ltd (ASX: BFG) jolted the market today with its full-year 2025 results, but shareholders are not rushing in.

Bell Financial shares fell earlier in the day before the results were released. By late afternoon, the stock had recovered to trade 0.36% higher at around $1.37, after dipping as low as $1.295.

Here’s a breakdown of what investors should take away from the update.

What was announced?

Bell Financial reported a full-year profit after tax of $36 million for FY25. That is an increase of 17.1% compared to the previous financial year.

Revenue for the year rose 28% to $299.2 million. The result reflects stronger activity across the business and better market conditions.

The company said it continues to benefit from a more diversified structure. Bell Financial operates across retail and institutional broking, platforms, and other financial services. This mix is designed to smooth out earnings when market conditions change.

Management also highlighted solid contributions from its Platforms division and Markets division. The Platforms business continued to grow revenue and profit, while the Markets division maintained its position in equity capital markets activity.

Dividend details

Income investors will likely focus on the dividend.

Bell Financial declared a final dividend of 6.5 cents per share, fully franked. This brings total dividends for the full year to 9.5 cents per share, also fully franked.

The record date for the final dividend is 4 March 2026, and payment is scheduled for 19 March 2026.

How did shares respond?

Although the share price dipped earlier in the day, it recovered after the results were released and moved slightly higher by late afternoon.

The modest move suggests much of the result may have already been priced in. It may also reflect broader caution, especially towards financial services stocks that can be sensitive to trading volumes and investor sentiment.

Over the past 12 months, the share price has traded within a broad range. At around $1.37, the stock remains below some of the higher levels seen over the past year.

What to watch next

Bell Financial’s future performance will depend on market conditions and trading activity.

Higher equity market volumes can support broking income and capital markets revenue. On the other hand, quieter markets can weigh on earnings.

Another key question is whether the company can continue growing its Platforms division. This part of the business offers more recurring revenue, which may help reduce earnings volatility over time.

Ultimately, continued earnings growth will likely determine whether Bell Financial shares can break out of their recent trading range.

The post Bell Financial posts strong FY25 result. Is this stock ready to run? appeared first on The Motley Fool Australia.

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Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

At first glance, it would be fair to assume investors in Dexus (ASX: DXS) would be happy with how its latest set of earnings results went down this morning.

After all, units of this real estate investment trust (REIT) are currently up a healhy 8.16% (at the time of writing) to $6.84 each.

But when you consider this REIT’s long-term stock price chart, you might want to think again.

For one, Dexus is still down about 12% over the past 12 months (including today’s big jump). The REIT is also down 20.1% from where it was five years ago. But what’s even more sobering is that today’s Dexus unit price is about the same as it was back in August 2014. And it’s still below the level it was a whole decade earlier than that, way back in late 2004.

Unless you timed buying and selling this REIT impeccably (which is statistically unlikely), the only returns that have kept you comfortable over the past two decades have come from dividend distributions. Sure, with a 5.4% yield today, those haven’t been insubstantial. But we still can’t conclude anything other than Dexus has been a bit of a dud investment for as long as most investors can remember.

But perhaps the REIT is about to turn a corner.

It’s worth noting that investors might, understandably, feel a little shortchanged by the market’s valuation of Dexus. In today’s earnings, the REIT confirmed that its property portfolio has an actual value (net tangible asset) of $8.95 per Dexus unit. This means that Dexus’ value is being undershot by the market, for whatever reason, to the tune of 30%.

Could Dexus benefit from this massive share buyback program?

Management has taken notice of this fact. In its earnings release this morning, Dexus CEO Ross Du Vernet revealed a new share buyback program specifically tailored to address this value disparity:

There is a sustained disconnect between our equity market valuation and that of our underlying assets and businesses. We have activated an on-market securities buyback of up to 10% of Dexus securities, which we expect to execute at a pace consistent with maintaining balance sheet discipline as we progress asset sales and other initiatives.

Since Dexus has a market capitalisation of approximately $7.34 billion, this buyback program could be worth up to $734 million.

Share buybacks can significantly boost shareholder returns. By reducing the supply of units in the open market, it has the potential to increase the pricing of those units. Further, buybacks are also good for the company (or REIT) itself, as there are fewer units to split profits and dividends amongst.

Such a large share buyback program being undertaken does have the potential to boost returns for Dexus investors. Particularly when the shares are being bought back at such a discount to their alleged intrinsic value. But we shall have to wait and see if this eventuates in the Dexus unit price.

The post Can a massive share buyback save the Dexus stock price? appeared first on The Motley Fool Australia.

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Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The ASX tech share CAR Group Ltd (ASX: CAR) has enormous potential, based on what UBS thinks could happen with the vehicle marketplace business. There is exciting potential for the CAR Group share price.

While best known for the Australian business Carsales, it also has exposure to other markets, including South Korea (through Encar), Brazil (with Webmotors), and the USA (with Trader Interactive).

After seeing the result, UBS said that it was a “solid result”, which points to continuing execution in all regions.

UBS view on the result

The broker pointed out that CAR Group’s results showed consistent execution and growth across all regions.

CAR Group reported that revenue rose 8% to $626 million, operating profit (EBITDA) went up 11% to $324 million, and reported net profit climbed 16% to $143 million. The board of directors decided to increase the interim dividend per share by 10% to 42.5 cents.

Australian revenue rose 8%, with adjusted EBITDA growth of 8%. North America revenue grew 13%, while adjusted EBITDA climbed 11%. In Latin America, revenue grew 23% and adjusted EBITDA climbed 29%. Asian revenue increased 17% and adjusted EBITDA went up 13%.

UBS liked CAR Group’s reassurance on AI because of market concerns. AI investment by the business will fall within the “existing spend envelope” over the medium term, at around 10% of capital expenditure. It’s also starting to see signs of incremental revenue from AI-supported products such as “lead nurturing, sourcing products in Australia and the US, and guarantee inspection in South Korea.”

The broker believes the investment in AI will continue to support yield and depth growth across all regions. For example, a fully AI-driven search experience has led to two times the leads in Brazil.

UBS also noted that there is “longer term margin upside potential” from AI, with the company suggesting near-term reinvestment of AI productivity savings back into AI developments, but with potential for margin expansion in the medium-to-longer term.

The broker forecasts that CAR Group’s margins can continue expanding in FY27 onwards by an average of 80 basis points (0.80%) per year over the next three years.

UBS also believes that growth in the US (with Trader Interactive) is poised to return to double digits, driven by dealer additions, a 6% price rise in January, and growth in leads in private, media, and marine.

How much could the CAR Group share price rise?

The broker suggested that the business is trading at a relatively low price compared to its typical historical earnings multiple, while still delivering double-digit earnings growth. It’s valued at 25x FY26’s estimated earnings, according to UBS’ projections.

UBS has a buy rating on the business with a price target of $39.60. That implies a possible rise of more than 50% at the time of writing.

The post The CAR Group share price is a strong buy – UBS appeared first on The Motley Fool Australia.

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Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended CAR Group Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Netwealth Group Ltd (ASX: NWL) delivered another dividend increase after a strong first-half performance. The result has sent the company’s shares sharply higher in afternoon trade.

At the time of writing, the Netwealth share price is up 13.22% to $25.27.

The wealth platform provider lifted its interim dividend by 20% after delivering double-digit earnings growth.

The board declared a fully-franked interim dividend of 21 cents per share, up from 17.5 cents a year earlier. That increase closely tracks earnings per share (EPS) growth of 20.5% to 28.1 cents.

Shares will trade ex-dividend on 4 March 2026, with payment scheduled for 26 March.

Strong inflows drive earnings growth

Funds under administration (FUA) climbed 23.6% year on year to $125.6 billion. Net inflows remained strong, with $16.6 billion of FUA inflows recorded during the half. That growth fed directly into revenue, with total income rising 24.7% to $193.8 million.

EBITDA increased 23.9% to $96.7 million, while margins remained high at 49.9%. Although this was slightly below last year’s level due to ongoing investment, the company is still operating near the 50% mark.

Earnings growth was matched by strong operating cash flow. Netwealth continues to benefit from a largely recurring revenue base, which provides visibility as it expands.

Expanding the platform while lifting profits

During the half, the company increased operational headcount to 791, adding 74 roles across product, technology, and service functions. Management said the investment is aimed at strengthening the platform and supporting adviser growth, rather than chasing short-term margin gains.

Even with that investment, profitability remains robust. The company reiterated that it expects FUA net flows in FY26 to remain broadly consistent with FY25 levels and EBITDA margins to stay around current levels, excluding specific First Guardian-related expenses.

Earnings growth now flowing to shareholders

Netwealth has long been viewed as a growth company, but the rising dividend shows that the business is now evolving. With greater scale now in place, additional revenue is flowing through at healthy margins.

The platform is still capturing market share, expanding its adviser network, and increasing account balances. At the same time, strong recurring revenue and solid cash conversion are supporting a growing payout to shareholders.

The 20% increase in the interim dividend is a clear sign of that progress. The company is generating cash, reinvesting in the business, and still returning more profits along the way.

If adviser growth and net inflows remain steady in the second half, further dividend growth would not be a surprise.

The post Dividend boost sends Netwealth shares 13% higher appeared first on The Motley Fool Australia.

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Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Netwealth Group. The Motley Fool Australia has positions in and has recommended Netwealth Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.