Fiducian focuses on acquiring more financial planners

Fiducian financial planning profit growth

19 February 2018
| By Hannah Wootton |
image
image
expand image

Vertically integrated financial services business Fiducian has announced that it will intensify its attempts to acquire financial planning businesses, as it recorded first half profit growth of 24 per cent for the 2017-18 financial year following successful procurements of planners.

Fiducian management said that it would increase efforts to grow the financial planning business through strategic acquisitions and organic growth.

This was already evident in the first half of the financial year, as the business made $41 million of acquisitions of financial planning client bases. Fiducian said that this contributed to taking current funds under advice to $2.31 billion.

Fiducian managing director, Indy Singh, said that Fiducian planned to keep up its current growth techniques.

“Going forward, management will again focus on developing ways to continue the growth that’s been built on the solid foundation of funds management, platform administration, information technology and business/accounting awards,” he said.

Fiducian utilised a multi-asset, multi-style business model, with both its specialist and diversified funds delivering strong performances.

The business’ India and Technology funds returned 23.6 and 27.2 per cent respectively annualised over five years. Its diversified Ultra Growth, Growth and Capital Stable funds were each in the top five funds for their various sectors in the Morningstar January 2018 survey.

Funds under management, administration and advice grew 22 per cent to $6.27 billion. Overall revenue was up 12 per cent, underlying NPAT up 24 per cent, and underlying EBITDA jumped 25 per cent.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

Interesting. Would be good to know the details of the StrategyOne deal....

4 days ago

It’s astonishing to see the FAAA now pushing for more advisers by courting "career changers" and international recruits,...

3 weeks 2 days ago

increased professionalism within the industry - shouldn't that say, FAR register almost halving in the last 24 months he...

4 weeks 1 day ago

Insignia Financial has made four appointments, including three who have joined from TAL, to lead strategy and innovation in its retirement solutions for the MLC brand....

2 weeks 3 days ago

A former Brisbane financial adviser has been charged with 26 counts of dishonest conduct regarding a failure to disclose he would receive substantial commission payments ...

2 days 22 hours ago

Pinnacle Investment Management has announced it will acquire strategic interests in two international fund managers for $142 million....

2 days 1 hour ago