Centrepoint Alliance Limited today announced its half-yearly results to the ASX, reporting a statutory NPAT for the Group of $2.9m, up 126% on the prior corresponding period.
The Chairman, Rick Nelson commented, “The Group has delivered a number of new and improved initiatives during the period which will allow the business to execute its strategy to be a market leader in the delivery of quality financial advice. Both the Centrepoint Funding and Wealth businesses hold strong positions in their respective markets and we will continue to build on those.”
John de Zwart, Managing Director of Centrepoint Alliance Limited said, “The strong growth recognises the investment the Group has made, and continues to make, in supporting non-aligned professional advisers and brokers to build their businesses.
“We’ve made significant inroads in the past half year. We have launched a new separately managed account service, the Premium Funding business has grown its east coast business by 24% and recently signed a distribution agreement with the Steadfast Group, and our adviser network is starting to see the benefits that a focus on delivering quality advice is bringing to their practices”.
Centrepoint Alliance Wealth, which consists of Associated Advisory Practices (‘AAP’), Alliance Wealth, Professional Investment Services (‘PIS’), Ventura Funds Management, and Investment Diversity, announced a solid underlying pre-tax profit of $4.0m, up 29%.
John de Zwart said, “During the half year we continued to execute our strategy to support advisers grow their business and improve the quality of advice and financial outcomes for Australians.
“Centrepoint continues to invest in people and technology. Advisers need support from a partner who can invest in the systems, services and solutions to enable an adviser to deliver quality advice in a sustainable profitable manner. Centrepoint is investing heavily on behalf of our advisers to overcome the compliance and administrative challenges they face. Our goal is to reduce our advisers cost to serve clients by 50%.
“An example is Ventura’s Managed Account Portfolio Service, (‘vMAPs’) launched in October. Using the latest technology and leading international service providers, vMAPs delivers far superior outcomes for clients compared to traditional platforms, managed funds or direct equities.
“We will continue to develop innovative best-of-breed services and solutions to enable advisers to provide the best quality advice and client service while also running efficient and profitable practices. In our view, the two objectives go hand in hand,” said Mr de Zwart.
“Our professional standards, adviser training and business development capabilities have been transformed and are increasingly being highly valued in the market.
“It is pleasing to see the hard work and commitment of all involved being rewarded with these results, as they are a solid indication that our strategy is working, and the Group is well positioned for sustainable, above market growth.”
E
Leave a Comment
You must be logged in to post a comment.