BFG reports strong revenue
Bell Financial Group has reported a strong nine-month period, reporting to the Australian Securities Exchange (ASX) today that unaudited revenue for the period to 30 September was up 26 per cent to $169 million.
It said unaudited profit before tax was 113 per cent ahead of the previous corresponding period to $27.5 million and that all divisions were profitable.
The market update reinforced the company’s focus on technology and stated that “technology is the future of this industry and the future of this Group”.
The update also noted that the firm’s Third Party Platform was now fully owned by BFG and that it had opened the way for the facilitation of a possible move by Bell to provide third party clearing services.
Recommended for you
Morningstar has made two business development appointments to drive the growth strategy of its financial advice software, AdviserLogic.
Insignia Financial has announced a board director will be stepping down next year after almost a decade amid a board refresh.
Zenith Investment Partners has appointed a Brisbane-based business development manager, who previously led Fitzpatrick Private Wealth Partners as a director and senior adviser.
Praemium has said it is open to investing in artificial intelligence “in a big way” as it believes it can transform the business and details how it is already being used by the firm.