Numbers add up for Count
Count Financial has reported a 36 per cent increase in funds under advice for 2004-05, despite a small reduction in its number of franchisees.
Australia's third largest financial planning dealer group reported that of the $2.28 billion growth in funds under advice, $1.21 billion went into its recommended platforms such as BT Wrap.
The loan business grew strongly in the final quarter of 2004-05, with Count claiming that the $270 million of new loan business generated was a record.
The group said it was confident of an earning before interest and tax (EBIT) result of $16.3 billion for 2004-05, up 50 per cent on the previous year. Forecast EBIT growth for 2005-06 has been set at 30 per cent.
Recommended for you
ASIC has released the results of its first adviser exam to be held in 2025, with 241 candidates attempting the test.
Quarterly Wealth Data analysis has uncovered positive improvements in financial adviser numbers compared with losses in the prior corresponding period.
Holding portfolios that are too complex or personalised can be a detractor for acquirers of financial advice firms as they require too much effort to maintain post-acquisition.
As the financial advice profession continues to wait on further DBFO legislation, industry commentators have encouraged advisers to act now in driving practice efficiency.
