OnTrack boosted by CBA and Smith Barney Citigroup

Tribeca Learninghas signed up almost 900 advisers to its online continuing education service OnTrack, with two new institutional clients bringing numbers to 6,500 since the service was launched in March last year.

The Commonwealth Bank of Australia and Smith Barney Citigroup have joined the service, adding a further 620 and 250 advisers respectively. The additions mean 151 groups are now using the service in total.

Tribeca Learning managing director Adam Davis says the addition of two new institutional clients is a signal that the momentum for growth in subscribers is continuing.

He says the group is presently in discussions with a number of other institutions about joining the service, and he expects numbers to continue to increase in the near future.

According to Davis, the two new clients would add several hundred thousand dollars to Tribeca’s full year revenue on an annualised basis, and boost revenue of the group’s continuing education division.

The continuing education division, including OnTrack, personal development sessions and special interest seminars, has increased from 20 per cent of Tribeca’s revenue to 40 per cent over the past year.

In total, Davis says the group now has 15,000 financial advisers receiving continuing education material on a monthly basis, which he says is most of the industry.

He also says that the group believes it has the only compliant continuing education service based on its interpretation ofAustralian Securities and Investments Commission(ASIC) policy statements.