Centrepoint NPAT down 6% amid tightening adviser | Australian Markets

Publicly-listed financial planning group Centrepoint Alliance has pointed to 14% increase in first half gross income pushed by gross commissions and adviser charges because it posted a 6% decline in web revenue after tax to $4.858 million.

However the decline in NPAT, the company instructed the Australian Securities Change (ASX) that it continues to carry out effectively, delivering constant earnings and web adviser growth “cementing its place as a main vacation spot for advisers, serving each the licensed and self-licensed market phase.

It mentioned the company continued to carry out effectively, regardless of tightening recruitment situations.

“Recent merger and acquisition activities have led to a more cautious approach among advisers switching licensees, with many adopting a wait and see position before making any decisions,” the Centrepoint commentary mentioned.

“However, the pipeline for conversion remains promising, indicating confidence for future growth.”

It mentioned that on the finish of the primary half there have been 556 authorised representatives, representing web growth of seven and 200 self-licensed companies representing a loss of three companies in comparison with these as at 30 June, final yr.

Centrepoint mentioned its salaried advice companies, FAM and Xseed, had been absolutely built-in, with all advisers now working below a unified model.

The administrators declared an interim dividend of 1.25 cents per share, absolutely franked.