Fiducian posts 22% lift to NPAT

Fiducian Group has committed to further extending its platform offering to independent financial advisers on the back of a robust full-year result.

The company said that its statutory net profit after tax grew by 22% to $15 million on the back of steadily rising markets and consistent positive net inflows from its financial network.

It said net inflows of $281 million were received from the company’s aligned dealer group, noting that Fiducian’s focus remains on generating inflows through organic and inorganic growth with further acquisitions of client basis being negotiated.

The company said Fiducian’s platform for its financial advisers were now complemented by its offering to IFAs via Auxilium

“We have proven the capability of our platform administration system which is comfortably coping with the different requirements of external IFAs,” the Fiducian announcement said. “Auxilium platforms for superannuation and non-superannuation IFA business are successfully competing against established players.”

“Funds under administration on our Fiducian labelled platforms stood at $3.55 billion on 30 June 2024.”

Commenting on the result, Fiducian executive chairman, Indy Singh said the focus remained on the establishment of a business with a rock-solid foundation and growth strategies to enable upscaling on existing capacity and leveraging its controlled, relatively low fixed cost base.