Listed advice group reports 16% profit jump

On Monday, the group announced a net profit increase of 16 per cent to $12.2 million that executive chairman Indy Singh said is a result of Fiducian’s adaption to the “changing environment”.

“This was achieved through a combination of consistent and assured inflows from our financial planning network, a strong recovery in stock markets worldwide and strict controls by management on cost and operational efficiencies,” Mr Singh said.

Fiducian has reported fully franked dividends of 26.9 per cent per share (an increase of 17 per cent), net inflows of $228 million (an increase of 5 per cent) and FUMAA up to $10.4 billion (an increase of 30 per cent).

“Our people are the heart and soul of our business and retention of skilled staff is crucial to long term business growth,” Mr Singh added.

“Through these difficult times no one was retrenched, laid off or had their remuneration reduced. For their hard work and loyalty, generally all staff were rewarded with a salary increase for the next year and a bonus which was equal to or higher than what they had received in the previous financial year or received in accordance with their employment terms.”

Mr Singh confirmed that Fiducian will continue to look for acquisition of financial planning client bases and expand its funds in New Zealand.

Neil Griffiths

Neil is the Deputy Editor of the wealth titles, including ifa and InvestorDaily.

Neil is also the host of the ifa show podcast.