The remaining ASX-listed licensees continue to be in strong financial health despite industry disruptions including stalled advice reforms and the aftermath of the Shield and First Guardian collapse.
February saw the half-year results for WT Financial Group, Count, Centrepoint Alliance, Insignia Financial, Fiducian and Sequoia Financial Group.
An apples-to-apples comparison of licensee owners is difficult as the groups vary in size and often included other business lines that serve other professions like accounting.
WT, which licences Wealth Today, Sentry Advice, Synchron and Millennium3, reported on Friday morning a 12.1 per cent statutory net profit after tax (NPAT) increase of $2.36 million over the previous corresponding period (PCP). Revenue increased 12.6 per cent to $119.6 million.
The group told investors that performance was driven by increased adviser productivity, operating leverage for scale efficiencies and cost management.
WT is continuing its strategic partnership with Merchant Wealth Partners through the “Investco” joint venture.
So far Titan Advice Group has completed the acquisition of Rushby Financial and has agreed to acquire accounting firm Fusion Partners.
A new firm, Select Advice, has been established, while further opportunities are under development, the company told investors.
Count, which is the third largest licensee owner with 577 authorised representatives, reported a 133 per cent increase in statutory NPAT to $9.2 million.
Group revenue – which includes a large accounting segment – grew 12 per cent over PCP to $82.8 million, which the firm attributed to growth in the wealth segment.
The group’s financial planning revenue grew 12 per cent in the equity partnerships segment.
Centrepoint Alliance, the second largest licensee with 603 authorised representatives, reported $3.9 million in NPAT, down from $4.6 million in the previous corresponding period.
Gross revenue was up 12 per cent compared to 1H25 to $179.4 million which it attributed to adviser recruitment and recurring fee growth.
Insignia Financial’s underlying NPAT was up 6 per cent to $132 million over PCP.
The group didn’t disclose individual performance of Shadforth and Bridges, but advice segment’s revenue was $86 million. Revenue per adviser was $887,000 (there are 192 in the company).
Insignia announced this week that the Federal Court has approved a shareholder vote to be held for the proposed acquisition by CC Capital for $4.80 per share.
Fiducian Group’s gross revenue was up 9 per cent to $48.5 million, while statutory NPAT was up 15 per cent to $9.9 million over PCP. The group said it has 68 advisers in its network.
Sequoia Financial Group, which owns the troubled InterPrac Financial Planning licensee, saw revenue increase 4.6 per cent to $63.4 million over PCP and the company paid a 1 cent dividend per share.
The group reported a net profit after tax of $250,000 which it attributed to a $900,000 settlement related to Libertas Financial Planning and a $2.1 million loss on disposal of two insurance broking subsidiaries where performance hurdles weren’t achieved.
According to figures from Padua Wealth Data, Sequoia has lost 65 advisers over the past six months.
InterPrac revealed in its half-year results that will no longer be cross guaranteed by other Seqouia-owned entities.
The company declined to confirm to Professional Planner whether the change was being made to avoid mounting liabilities from the Shield and First Guardian collapse.
