Count Financial quarterly result for 30 June 2007
Key Performance Indicators:
Count Financial funds in recommended platforms grew by approximately $2bn (36%) over the last 12 months compared to 30% growth in the All Ords Accumulation Index.
Count’s recommended low cost/ low margin BT platform for portfolios over $750,000, now stands at $0.69bn, a growth of 86% over the year. Total funds in BT/Westpac administration platforms now total $4.91bn (up 38%) and Skandia $1.59bn (up 31%).
In line with industry commentary, they saw a last minute rush of undeducted contributions into superannuation, which is reflected in these strong figures.
Funds Under Advice (excluding direct property, but including direct shares) grew at 26% over the year and now totals $14.06bn.
Loans outstanding now $3.6bn (up 63%) for the year. This strong result is delivered from the focus of the finconnect service and growth in equity lending.
Combined Funds and Loans Under Advice reached $17.7bn, up over $4bn (32%) for the year.
Inforce life insurance premiums grew 18% over the year. This amount does not include insurance within superannuation funds where the amounts cannot be readily obtained.
SuperCentral:
SuperCentral is an innovative online and automatic SMSF trust deed updating service, launched at the May 2006 Annual Conference. SuperCentral is offered in conjunction with Townsends Business & Corporate Lawyers (TB&CL), who provide the intellectual property, whilst Count provides the IT framework for its delivery.
Up to 30 June 2007, 386 Premium Conversions, 1,045 Standard Conversions and 497 New Deeds have been completed. Collectively its Members have approximately 15,000 SMSF clients, indicating approximately 13% of all our Members' SMSFs are already subscribed to the service after only one year. We expect this service will continue to grow.
2008 Count annual conference:
After a successful annual conference in Perth, Count have already received 543 paid registrations for its annual conference to be held at the Brisbane Convention & Exhibition Centre on 27-30 April 2008.
The conference is held over 3 full days – 120 workshops and over 10 streams including accounting, lending and plenary sessions.
Next market updates:
- Full year profit results and Risk/Reward dividend announcement on 14 August 2007
- 30 September 2007 quarterly business update on mid-October 2007.
21-Aug-2007