Listed dealer group Plan B has reported an increase in funds under management, administration or advice (FUMA) for the March 2012 quarter to total $2.26 billion.
The figure represents a 2.5 per cent increase in FUMA compared with the group’s position as at 31 December 2011.
It also represents a 2.2 per cent decrease compared with Plan B’s position as at 30 June 2011.
FUMA on the company’s investment platforms increased by 1.7 per cent to $1.77 billion during the March quarter, representing 78.4 per cent of the company’s total FUMA.
“FUMA growth during the March 2012 quarter as a result of improved market conditions was partially offset by net fund outflows,” a company statement to the Australian Securities Exchange said.
An analysis of Plan B’s FUMA found the company has 63.7 per cent on platform through Plan B salaried adviser channels, while 18.0 per cent represents other funds under advice (FUA), 14.7 per cent is on platform through PFS Affinity Partners and other channels while the remaining is made up from other FUA PFS Affinity Partners.
The analysis does however exclude the FUA of authorised representatives of Plan B’s subsidiary, My Adviser.
In February this year, Plan B purchased an additional stake in the Queensland financial planning group.
The deal was completed ahead of schedule and took Plan B’s stake in My Adviser to 93 per cent.
