In the bank’s results released to the Australian Securities Exchange (ASX) yesterday, it said the number of aligned advisers (including those operating under RI Advice, Millennium3 and Financial Services Partners) had fallen from 2,164 in March 2012 to 1,911 in March this year.
However, the number of bank planners in the ANZ Financial Planning channel grew by nine per cent in the six months to March this year, according to a press release accompanying the results.
An ANZ spokesperson told InvestorDaily there was “some noise” in the 2,164 figure and the actual reduction across the aligned networks over the past year was closer to 40.
Meanwhile there had been strong growth in bank channel and phone-based adviser numbers, the spokesperson added.
In its results yesterday, the bank also said productivity per planner had increased significantly. There was a 21 per cent increase in risk sales per adviser and a six per cent increase in investment flows per adviser in Australia.
“In international and institutional banking, profits were up by 26 per cent,” ANZ chief executive Mike Smith said in the financial report.
“ANZ has built real scale and capability in Asia, and our growth trajectory is now more established and coming off an increasingly higher base.
“Connectivity is a key differentiator for ANZ, driving cross-border activity across the network.”
ANZ recorded a seven per cent increase in profit in its Australian retail and corporate and commercial banking franchise compared to the previous half, with profit before provisions (PBP) up six per cent.
“In Australia, we made further market share gains in priority retail and commercial segments, margins were well managed, and we saw improving trends in customer satisfactions,” Mr Smith said.
ANZ said that its medium- to long-term goals were to continue its expansion through Asia on corporate and financial institutions.
“Since 2008 we have worked hard to connect ANZ shareholders and customers to the significant opportunities being created by Asian fast-growing economies while building on our traditional strengths in Australia, New Zealand and the Pacific,” Mr Smith said.
