Plan B holds ground
Financial planning group, Plan B Holdings has defied recent market volatility to report an increase in funds under management or advice (FUMA).
The company notified the Australian Securities Exchange today that FUMA had increased by 1.1 per cent over the financial year to stand at $1.75 billion.
However, it acknowledged that over the closing quarter of the financial year, FUMA had decreased by 2.2 per cent, reflecting the current market environment.
Commenting on the result, Plan B managing director Denys Pearce said that the company’s net profit after tax for financial year 2008 would be in line with that previously indicated by the company in its March quarter FUMA announcement.
AUTHOR
Mike Taylor
Recommended for you
Inefficient data processes and systems mean advisers are spending over half of their time on product implementation and administration at the expense of clients, according to research.
With the regulator announcing its enforcement focus for 2025 last week, law firm Hall & Wilcox examines the areas which have dropped down the list in priority for the regulator.
South Australian financial advice and accounting business Perks has extended its paid parental leave program from 12 to 26 weeks, putting it on par with big four firms.
Mason Stevens has tapped Investment Trends’ head of growth, alongside two other hires, to bolster its distribution team.
