The Company owns 96% of the equity interest and voting power of GFNL. click here.
Topline growth with annualized forecasted revenue run-rate of over $15 million in fees from wealth management and tax/accounting advisory business.
Advising $540 million funds under advisement (FUA) and managing $62 million funds under management (FUM) through 114 licensed advisers.
ACCESS TO AFSL
Access to the Australian Financial Services License (AFSL) enables the Company to provide a wide variety of financial services - financial product advice for various asset classes and deal in financial products with retail and wholesale clients.
ACCESS TO ACL
Access to the Australian Credit License (ACL) enables the Company to provide aggregator, mortgage, and finance broker services for various loans, leases, and credit card services.
Australia manages the fourth-largest pension system in the world today.
Even though the Australian wealth management industry is only 25 years old, it has a superannuation system valued at more than $2.1 trillion. When all wealth that is managed comes together within this industry, its overall value reaches $2.8 trillion.
There are more than 25,000 active financial advisors currently working with the Australian Wealth Management sector.
The annual fees generated by the Australian wealth management industry is close to $3.9 billion.
Only 2.2 million Australians (or 12% of the population over 18) share their lives and wealth with a financial adviser.
Digital advice will give the large portion of Australians low-cost access to services that will scale with their needs.
We are pleased to achieve this transformative milestone for the Company, its employees, shareholders, and the clients we serve. Our new GFNL colleagues should be commended for their efforts, along with those of our team, to achieve this turning point for the Company.
WEALTH MANAGEMENT FEES
We generate revenues from funds under advise (FUA) and funds under management (FUM).
We generate revenues earned from providing tax and accounting advisory services to independent dealer groups (IDGs).
We are adding a step-change in revenues, FUA and FUM, and # of advisors by acquiring small IDGs in the next six to twelve months.
We have the potential to upgrade GFNL’s license to FX/CFDs brokerage license under Australia Securities and Investments Commission (ASIC).