Centrepoint looks to managed accounts as NPAT declines
Centrepoint Alliance, the third-largest advice licensee, has reported 40 per cent growth in its managed accounts business, but profits fell by a third.
In its FY25 results, the firm said its net profit after tax was $5.1 million, down 33 per cent from $7.7 million a year ago. Net revenue (gross profit) was $40.9 million, an increase of 13 per cent.
Revenue from advice fees stood at $27.1 million, up from $24 million in the previous financial year, while revenue from salaried advice grew from $6.2 million to $8.5 million.
In managed accounts, FUM grew 40 per cent from $303 million to $423 million, and it noted it is building out the managed account offering on its new IconiQ Superannuation and Investment platform.
The increase was driven by distribution across six investment and superannuation platforms, it said, and is an improvement after several years of decline with its Ventura Managed Account Portfolios.
Growing managed accounts will be a key way for the firm to build and scale in asset management which currently has $423 million in FUM, up significantly from $297 million in 2024.
“2025 was a pivotal year for the investment solutions business, marked by the launch of the IconiQ Superannuation and Investment platform (IconiQ) and a turnaround in funds under management following the introduction of managed accounts.
“After several years of decline in funds under management with the Ventura Managed Account Portfolios (VMAPS), including a reduction from $273 million to $251 million in FY25, growth in new managed accounts offering have grown from $30 million in FY24 to $172 million in FY25, bringing the total managed account funds under management to $423 million. This represents a 40 per cent uplift into new managed accounts available across six investment and superannuation platforms.
“This growth reflects early adviser engagement and renewed confidence in our investment offering.”
It reported growth of 22 authorised representatives during the year to close out the year with 571 advisers under its licence, just 10 shy of Count which holds the second-largest position, and said momentum is supported by industry consolidation and competitive value proposition.
For its self-licensed business, this has 199 firms with 900 advisers, having onboarded 17 new firms during the year.
Centrepoint Alliance is now seeking to grow its licensed, self-licensed and salaried advisers, and said this could include via organic growth as well as acquisitions to maintain scale in the space. Regarding salaried advisers, it would like to acquire ‘corporatised firms’ to improve margins.
AUTHOR
Laura Dew
Recommended for you
Prosperity Advisers Group, a mid-tier advisory firm, has surpassed $1 billion in funds under management, hitting this milestone following a “sustained period of growth for the firm”.
Forbes Fava Financial Planning has acquired Melbourne-based firm Financial Planit, taking “another key step” towards its long-term strategic growth plans for the region.
Self-licensing specialist My Dealer Services has announced partnerships with five businesses, including Morningstar and Peloton Partners, to expand its service offering.
ASIC has launched civil penalty proceedings in the Federal Court against Equity Trustees for its role in the Shield Master Fund failure.
