Bell FG closes 2015 on a high
Bell Financial Group shareholders are ringing in the new year on a positive note, after the group posted a 165 per cent rise in pre-tax profits.
In a statement to the Australian Securities Exchange (ASX), Bell FG announced that the businesses were expected to provide an unaudited pre-tax profit in excess of $22 million for 2015, underpinned by strong revenue growth in equity capital markets.
The group reported its funds under advice exceeded $32 billion last year, the majority of which had been placed in CHESS sponsored holdings, with a further $900 million was in cash deposits, $500 million in superannuation assets, $300 million in marginal equity loans, and $2 billion on its Portfolio Administration Service platform.
"All business divisions were profitable, with most exhibiting strong revenue and profit growth:
- Institutional Broking and Equity Capital Markets revenues increased 50 per cent to $41 million. Profit before tax (unaudited) was $10.2 million, a 450 per cent improvement on the previous year.
- Futures & Foreign Exchange revenues grew by 30 per cent to $13.8 million, profit before tax (unaudited) was $2.1 million, 37 per cent ahead of 2014.
- Full Service Retail Equities revenue rose by four per cent to $102 million, with profit before tax (unaudited) up 130 per cent to $8 million.
- Revenue in Bell Direct, our 56 per cent owned online broking subsidiary, increased by 18per cent to $10.1 million, profit before tax (unaudited) was $1.2 million, a 200 per cent improvement on 2014.
- Bell Potter Capital net revenue and profit before tax (unaudited) remained steady at around
- $6.5 million and $1.4 million respectively," the group said.
AUTHOR
Nicholas O'Donoghue
Recommended for you
BT is to launch a new low-cost “Focus” investment menu for its Panorama platform this October, in partnership with Vanguard, seeking to compete with industry superannuation funds.
Net gains of financial advisers have already doubled since the start of FY25, according to this week’s Padua Wealth Data, with momentum gathering pace far faster than the previous financial year.
National advice firm MiQ Private Wealth has appointed a new chief executive to lead the business through a “transformative era” after penning a partnership deal with AZ NGA earlier this month.
WT Financial’s managing director, Keith Cullen, believes the firm’s Hubco model with Merchant Wealth Partners will be a “repeatable growth model” for the business as it scales its adviser numbers.
