Leading independent financial services group Fiducian has reported an 85 per cent increase in profit for 2005-06 of $3.593 million, up from $1.940 million for the previous year.
Fiducian also reported that funds under administration in the Fiducian Investment Service and the Fiducian Superannuation Service had increased by 29 per cent and 23 per cent respectively.
Commenting on the result, Fiducian Portfolio Services Limited managing director Indy Singh predicted ongoing profitability as a result of a continued focus on expanding the distribution network and lifting funds under management.
He said the focus in the current financial year would be on expanding the revenue base by further utilising all segments of Fiducian’s business model as a provider, not only to the distribution network, but also to other external parties.
