Fiducian ramps up for growth with new initiatives
FiducianPortfolio Services is gearing up to launch its own financial planning software and administration system, as well as boosting the number of its offices to 30 by the end of this financial year.
Fiducian managing director Indy Singh says the financial planning software has been designed for use within his group but has also been designed for third party use and will be ready within the next month. The administration system is also slated for roll out in the next quarter.
According to Singh, the group is also looking at enhancing its franchise model of the business, based on the planning software and administration system, with each element capable of being used by other financial planning businesses, including those operating in other countries.
Singh says the model will be highly transportable and based on a modulised system, which means elements can be removed and replaced dependent on the tax and regulatory environments.
In terms of dealer group numbers, Singh says at present the group has 17 dealers or agents tied to the group, with 14 franchised offices. He hopes to add four more dealer groups to its numbers, as well as six more franchises.
The group’s target for franchised offices also includes having 60 offices by the end of next financial year, with an overall target of 100 offices to be achieved “as soon as possible,” according to Singh.
Future plans also involve the possible launch of badged products for third party dealers, and an adviser training and compliance system for use internally and externally.
Singh says the reason for the high level of activity within the company since listing is part of a strategy to build the group to attract financial planners.
AUTHOR
Jason Spits
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