For the 2025 financial year, all but one licensee has reported double-digit share price growth.
During the 12-month period, the top-performing advice licensee is Count which has seen share price growth of 76 per cent compared to returns of 10 per cent by the benchmark ASX 200 over the same period.
|
Company |
Share price growth |
|
Count |
76 per cent |
|
Insignia |
62 per cent |
|
WT Financial |
53 per cent |
|
Centrepoint Alliance |
32 per cent |
|
Fiducian |
29 per cent |
|
ASX 200 |
10 per cent |
|
Sequoia |
-24 per cent |
Count
Australia’s second-largest advice licensee behind Entireti – which is not listed – has seen share price growth of 76 per cent. During the year, the firm has been active with acquisitions which have strengthened its presence in the South Australia and Queensland market.
In April, Count confirmed that Johnston Grocke has entered into a binding transaction to merge into Count Adelaide while the Queensland-based equity partner – which Count Group has a 69.2 per cent ownership of – is set to acquire the accounting clients of MJG Partnership and Harrison & Harrison.
In its half-year results earlier this year, the firm discussed how its “targeted disciplined M&A strategy” takes four forms: direct investments, transformational investments, bolt-on opportunities, and equity partnership mergers.
Insignia Financial
Much of this 62 per cent share price growth has been driven by the bidding war between global private equity players Bain Capital and CC Capital to acquire the firm.
The first bid for the financial services firm was made six months ago on 12 December by Bain Capital when Insignia shares were trading at $3.40. In the months that followed, Insignia shares rocketed as the bids rose higher and higher and peaked at $4.83 on 7 March, when Bain Capital and CC Capital increased their bids from $4.60 to $5 cash per share.
However, after Brookfield and Bain Capital exited the process and left CC Capital as the last bidder standing, shares have largely fallen back to where they began at the start of the process.
WT Financial
Shares in WT are up 53 per cent over the 12-month period.
In March, the firm detailed a joint venture with the local subsidiary of New York-based financial advice investor Merchant Wealth Partners. This will look to provide strategic growth capital to “high-potential financial advice practices across Australia”, broadly in line with Merchant Wealth’s global model.
Since then, it has announced it will bring together Titan Financial Planning, Darwin Financial & Retirement Services, and Wealth Connect Financial Services to form one larger entity, its first Hubco.
Centrepoint Alliance
Run by John Shuttleworth, Centrepoint Alliance has seen share price growth of 32 per cent.
In December, the advice licensee launched its own superannuation and investment platform IconiQ in association with technology firm FNZ. The platform is designed to empower financial advisers in managing their clients’ investments with ease and efficiency, developed on FNZ’s wealth management technology.
IconiQ comprises two solutions: IconiQ Investment and Super Wrap. The investment solution provides access to investment options, while the superannuation one offers help with portfolio management across accumulation and transition to retirement.
It also completed the acquisition of Brighter Super’s annual review service advice book via Financial Advice Matters.
Fiducian
Fiducian has reported share price growth of 29 per cent.
In its half-year results for the six months to 31 December 2024, the firm’s statutory net profit after tax (NPAT) was up 26 per cent to $8.6 million from $6.8 million at the end of December 2023. Net inflows for the core Fiducian platform were $186 million in the six-month period from aligned financial advisers.
Fiducian’s funds under management, administration and advice (FUMAA) rose by 11 per cent, from $12.9 billion to $14.4 billion, driven by strong organic and inorganic inflows.
Sequoia
At the end of the list, Sequoia is the only advice licensee to see negative share price growth over the 12-month period with losses of 24 per cent.
The licensee was subject to a shareholder rout at the start of the financial year, but this has since been resolved and the firm has made a series of appointments in a bid to turn around the business. This includes former IOOF head Chris Kelaher as a consultant, and Daryl Stout as the head of licensee and adviser services who joined from AMP.
It also streamlined its divisional structure from four to two and came to an agreement that chief executive Garry Crole will step back by FY27.
For this financial year, AMP was excluded as it has now sold off its advice business to Entireti, a deal which was completed in December 2024.
