annual report 2011

IOOF | annual report 2011
Divisional updates
Financial advice and distribution
$’m 2010/2011 2009/2010 * Change on prior year (%)
Revenue 129.0 122.9 13.55%
UNPAT pre amortisation 7.8 7.8 -
Average FUA ($’b) 18.6 16.5 12.73%
* the 2009/10 period has been reclassified to confirm with this year’s presentation
About the division
Financial Advice and distribution is represented by well known brands Bridges Financial Services, Wealth Managers, Ord Minnett
Stockbrokers and Consultum Financial Advisers.
More than 650 advisers and associated stockbrokers provide advice to retail and institutional clients on retirement planning, wealth
accumulation and investment strategies.
Activities
• Remain well positioned to take advantage of further flight to quality in clients and planners as a result of FoFA regulatory reforms.
• Development of our customised software offering for advisers and clients.
• Improved netflow into platforms.
Platform administration
$’m 2010/2011 2009/2010 Change on prior year (%)
Revenue 352.9 351.5 0%
UNPAT pre amortisation 76.9 67.8 13.42%
Average FUA ($’b) 24.3 24.3 0%
About the division
IOOF’s platforms allow clients, employers and advisers to manage a wide range of superannuation and investment options, including
managed funds and direct shares. Our flagship platforms include Pursuit, Spectrum Super and The Portfolio Service.
Activities
• Reduced the number of platform administration systems under the Business Simplification Program.
• Flagship platforms experienced further growth during 2010/2011.
• Two of our platforms, Pursuit and Austchoice retained their 5 star superannuation fund rating by Canstar Cannex, in its
superannuation star ratings report.
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