Fiducian focuses on growth strategy

Fiducian Portfolio Services (Fiducian) chairman Robert Bucknell has said while the group is not immune from the effects of the downturn in markets, it will continue to focus on its growth strategy.

Bucknell said at the group’s annual general meeting that the current downturn in markets will affect Fiducian’s earnings this year, although the extent of the damage “cannot be accurately determined until the timing of a return to more normal market conditions is known”.

According to Bucknell, “Fiducian is not immune”.

“However, our dedicated team of advisers continue to implement investment plans for the long-term benefit of their clients, albeit at a lower rate than last year.”

Bucknell said he is confident that with continuous monitoring and client contact, the Fiducian group will be well placed to benefit when the financial markets stabilise and recover, and that growth remains Fiducian’s central focus.

He said that “subject to any further major disruption to the financial markets”, areas of growth include an expansion of the adviser team and strategic acquisitions and joint ventures pursued both in Australia and overseas.

The group is also planning to use cash not required for expansion as part of a buy-back strategy. Bucknell said operating expenses also remain tightly controlled in the current environment.