Fiducian faces corporate restructure
Publicly-listed financial services group, Fiducian, is to undergo a major corporate restructure, including the establishment of new subsidiaries which will boast their own boards.
The restructure was flagged by Fiducian managing director, Indy Singh to the company's annual conference in Port Douglas and he said it reflected the regulatory and other changes which had impacted Fiducian since it was established more than 18 years' ago.
"The regulators are choosing to treat us as if we're a bank and we have to ensure that we are structured accordingly," he said.
Singh said that under the changes the company's investment arm would stand alone, along with the creation of a new Fiducian Management Services company and a new Fiducian Administration Services Company.
He said he believed the restructure would give rise to more independent management decision-making and it was possible the new entities would have separate boards down the track.
Singh said he believed the restructure would position Fiducian for more rapid growth.
Both Singh and the company's head of financial planning, Robby Southall pointed to its continued growth strategy with respect to planner numbers with Southall suggesting that, ultimately, the company would need to ask a question about how big it really wanted to be.
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