Fiducian defies volatility to post solid half
Fiducian Group has defied the Royal Commission and market challenges which have impacted other financial services groups to post a 15 per cent increase in statutory net profit after tax to $5.004 million for the half-year ended 31 December.
At the same time the company signalled no slackening in growth plans, with Fiducian telling the Australian Securities Exchange that the Board’s policy to build through structural growth by offering client administration services, sale of financial planning software and Fiducian Funds to external markets and as well through acquisition of financial planning portfolios was fully embraced by management.
It said the results were gradually showing and that through all the recent short-term turmoil the group had continued on growth and expansion plans and delivered a solid increase in earnings.
Looking at the current environment in Australia, the Fiducian announcement pointed to recent market volatility and said that while it believed the markets reactions to events had been overdone it believed such volatility would become the norm rather than the exception.
The company declared an interim fully franked dividend of 11 cents per share.
Recommended for you
Sharing his reasoning in joining the FSC board, WT Financial chief executive, Keith Cullen, believes “product and advice cannot be separated” from each other in the current environment.
The Emerge Foundation, a charity run by financial advisers and fund managers, has announced a scholarship program to help veterans transition into tertiary education.
In an open letter, Sequoia chief executive Garry Crole has hit out against shareholders “with a personal axe to grind” as he fights for his job ahead of an EGM.
The JAWG has announced it is in talks with Treasury around five “core principles” to strengthen the education standards for new entrants to the financial advice space.
