Fiducian’s half-year revenues down
Continuing tough market conditions have hit Fiducian Portfolio Services, which has reported a 20 per cent decline in half-yearly revenues for 2008.
The company announced that its half-yearly revenue had declined to just under $12 million.
Its profit after tax attributable to members has shrunk to just over $2 million, a drop of 35 per cent from the previous corresponding half-year period in 2007. The company declared an interim dividend to shareholders of 3.75 cents a share.
The company’s half-year financial statements will be released on February 25.
Recommended for you
ASIC has permanently banned a former Perth adviser after he made “materially misleading” statements to induce investors.
The Financial Services and Credit Panel has made a written order to a relevant provider after it gave advice regarding non-concessional contributions.
With wealth management M&A appetite only growing stronger, Business Health has outlined the major considerations for buyers and sellers to prevent unintended misalignment between the parties.
Industry body SIAA has said the falling number of financial advisers in Australia is a key issue impacting the attractiveness and investor participation of both public and private markets.
