Fiducian prepares for leadership transition

ASX-listed dealer group and fund manager Fiducian is preparing for a senior leadership handover as chairman Robert Bucknell heads for the exits.

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by Reporter - October 23, 2017 1 comments

In a statement to shareholders at the company’s AGM last week, Mr Bucknell announced that Fiducian managing director Indy Singh will be taking on the role of executive deputy chairman, with a view to stepping into the chairman role within the next three years.

“With the continuing growth and increasing challenges of the business, the management team is likely to expand, as required,” Mr Bucknell said.

“Indy already chairs the Fiducian Investment Management and Fiducian Services subsidiaries. These are the first steps in the implementation of our succession planning strategy.”

The chairman said he expects funds under administration to grow following a number of strategic acquisitions for the company in the financial advice market.

“Financial planning businesses have been acquired with client bases of about $97 million for our salaried and franchise planners in Victoria and New South Wales over the past year,” Mr Bucknell revealed.

“As acquisitions continue to assimilate we expect increased revenue and earnings growth in accordance with our disciplined approach to balancing growth and returns.”