Numbers add up for Count
Count Financial has reported a 36 per cent increase in funds under advice for 2004-05, despite a small reduction in its number of franchisees.
Australia's third largest financial planning dealer group reported that of the $2.28 billion growth in funds under advice, $1.21 billion went into its recommended platforms such as BT Wrap.
The loan business grew strongly in the final quarter of 2004-05, with Count claiming that the $270 million of new loan business generated was a record.
The group said it was confident of an earning before interest and tax (EBIT) result of $16.3 billion for 2004-05, up 50 per cent on the previous year. Forecast EBIT growth for 2005-06 has been set at 30 per cent.
Recommended for you
ASIC has launched court proceedings against the responsible entity of three managed investment schemes with around 600 retail investors.
There is a gap in the market for Australian advisers to help individuals with succession planning as the country has been noted by Capital Group for being overly “hands off” around inheritances.
ASIC has cancelled the AFSL of an advice firm associated with Shield and First Guardian collapses, and permanently banned its responsible manager.
Having peaked at more than 40 per cent growth since the first M&A bid, Insignia Financial shares have returned to earth six months later as the company awaits a final decision from CC Capital.
