Matrix Planning Solutions (Matrix) has announced an enhanced dealer split arrangement for both its current and prospective adviser practices.
Announced at the same time as the dealer group’s financial year results, Matrix is offering an enhanced remuneration package for advisers that includes a lower entry point for discounted dealer splits, as well as additional tiered discount levels based on production volumes.
Matrix is very competitive in terms of net amounts received by its advisers…
Matrix Managing Director, Rick Di Cristoforo, said ”Independent research …has consistently shown that Matrix is very competitive in terms of net amounts received by its advisers,” adding, “ The success of the practices and our strong financial position has put us in a position to further decrease the top line splits for our adviser base.”
Matrix reports it has paid a dividend of $0.34 per share to its shareholders for the 2008/9 financial year and that its dollar profit result was largely the same as the previous financial year, despite the bottom line impact on institutions and dealer groups of the Global Financial Crisis, and was due to two key factors:
- The recruitment of new member firms
- The strength and increased productivity of Matrix’s established adviser base
Looking forward, Matrix Director Adviser Services and Development, Allison Dummett, confirmed to riskinfo the dealer group’s stated aim of achieving an optimum capacity of 50 to 60 practices operating under its banner, growing from the 40 practices it currently services.
Ms Dummett also emphasised that Matrix is a dealer which practices joined, rather than one which acquires practices.
