DKN looks to growth

IOOF-linked dealer group DKN has reported a 23.4 per cent increase in underlying net profit after tax of $7.64 million on the back of a 9.6 increase in revenue to $26.48 million for last financial year.

At the same time, DKN chief executive Phil Butterworth has pointed to a significant growth agenda leveraging off the opportunities provided by the legislative and regulatory changes being imposed on the financial planning industry.

He said that while the focus of the last financial year had been on managing the group through a severe downturn, the coming years would see significant growth opportunities.

"DKN advocates the fee-for-service methodology by financial planners and has done so for some time," he said. "Our total service offering including platforms, practice development, compliance and business improvement systems support our network in achieving a 'reform ready' state and [makes us] well-positioned for growth opportunities.

Butterworth predicted growth opportunities arising from the new environment, which would need to be "considered and acted upon as appropriate".

"Over the past few years, DKN has evolved as a highly regarded service provider to professionally managed boutique wealth management practices, and our competitive position continues to be enhanced through highly cost-effective and market-leading solutions such as the recently announced agreement with BT Wrap," he said.