Insignia Financial Ltd 1H22 financial results
- Insignia Financial Ltd 1H22 financial results
Today we announced to the ASX the 1H FY22 financial results for Insignia Financial Ltd (Insignia Financial) (ASX code: IFL) for the six months to 31 December 2021.
Mr Renato Mota, Insignia Financial Chief Executive Officer commented: “Our first results as Insignia Financial delivered a strong uplift in financial performance, with significant growth in underlying profit, funds under management and administration, and gross margin.
“Our strategy for growth centres on scale, economic diversity, and a sustainable business model that delivers accessible and affordable products and services relevant to all client life-stages. While our name has changed, our ambition remains to improve the financial wellbeing of all Australians.
“Our focus over the half has been the integration of MLC, the simplification of our proprietary Evolve platform, including the delivery and completion of the migration of our clients, and our reshaping of the Advice business to ensure its long-term sustainability and profitability.
“As part of this strategy, targeted product enhancement and repricing is now providing clients a more attractive product suite, while higher adviser education and governance standards and use of new technologies, provides an improved advice offer to our clients.
“We have achieved these client and member enhancements whilst simultaneously taking actions to simplify our business model, deliver integration benefits ahead of schedule, identify further simplification and cost savings, and improve the sustainability of our self-employed advice channel.”
Read a copy of the full ASX announcement