Funds grow by Miles
Associated Planners grew its turnover by 25 per cent to $37.5 million in the finan-cial year to end June 1999.
Associated Planners grew its turnover by 25 per cent to $37.5 million in the finan-cial year to end June 1999.
Managing director Ray Miles attributes this rise to a 47 per cent jump in funds un-der management to $360 million, and to an increase in new members.
He says the number of Authorised Representatives climbed from less than 130 to 151 over the year. The number of member firms rose from around 75 to 84.
Over the same period, funds within the SOLAR Wrap service leapt to $100 million from a standing start while the Strategic Super Master fund expanded by 53 per cent, from $170 million to $260 million.
Miles adds that average revenue per member firm increased by 17.5 per cent over the year, rising to $400,000.
He says in order to provide the best possible support to advisers, the group has added 14 specialists in the areas of industry research, compliance, technology, marketing and business development.
Looking ahead, he expects similar growth (of 25 per cent) in turnover in the cur-rent year, and says assets under management could double.
The focus this year will be on technology with a number of major rollouts planned, he says.
AUTHOR
Zilla Efrat
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