Glowing report card for Fiducian

Sydney-based wealth management firm Fiducian Portfolio Services has reported a net profit after tax of $3.107 million for the six months ending December 31, 2007 — up 40 per cent on the first half of 2006 — on the back of solid growth within its financial planning division and steady inflows within its platform administration and investment management divisions.

Fiducian directors have declared a fully-franked interim dividend of 6.5 cents per share — up 44 per cent on the corresponding period in 2006. This follows a fully-franked dividend of six cents per share for the six months ending June 30, 2007.

Fiducian managing director Indy Singh attributed the positive results to the firm’s “full-value chain” of financial planning, portfolio administration, funds management and information technology systems.

“Each business pillar contributes individually and jointly to our success and thereby provides superior service to our investor clients,” he said.

According to Fiducian, a renewed focus on marketing, practice management and training has helped grow and strengthen its national advisory network.

As at December 31, 2007, assets under management in Fiducian’s investment and superannuation services were $499.4 million and $902.5 million respectively, and the Fiducian Funds, built around the firm’s manage-the-manager investment system, boasted about $1.6 billion. According to Fiducian, its Growth and India funds are doing exceptionally well, the former earning another top-quartile ranking and the latter attracting “remarkable” inflows from both wholesale investors and external platforms.

Fiducian said it expects organic growth and new sources of business to drive profits in coming years.