Fiducian defies volatility to post solid half
Fiducian Group has defied the Royal Commission and market challenges which have impacted other financial services groups to post a 15 per cent increase in statutory net profit after tax to $5.004 million for the half-year ended 31 December.
At the same time the company signalled no slackening in growth plans, with Fiducian telling the Australian Securities Exchange that the Board’s policy to build through structural growth by offering client administration services, sale of financial planning software and Fiducian Funds to external markets and as well through acquisition of financial planning portfolios was fully embraced by management.
It said the results were gradually showing and that through all the recent short-term turmoil the group had continued on growth and expansion plans and delivered a solid increase in earnings.
Looking at the current environment in Australia, the Fiducian announcement pointed to recent market volatility and said that while it believed the markets reactions to events had been overdone it believed such volatility would become the norm rather than the exception.
The company declared an interim fully franked dividend of 11 cents per share.
Recommended for you
ASIC has released the results of its first adviser exam to be held in 2025, with 241 candidates attempting the test.
Quarterly Wealth Data analysis has uncovered positive improvements in financial adviser numbers compared with losses in the prior corresponding period.
Holding portfolios that are too complex or personalised can be a detractor for acquirers of financial advice firms as they require too much effort to maintain post-acquisition.
As the financial advice profession continues to wait on further DBFO legislation, industry commentators have encouraged advisers to act now in driving practice efficiency.
