Centrepoint Alliance’s licensee and advice services business has reported a 1% decline in revenue to $98 million for the year to June 30.

But earnings before interest and tax were up 112% to $3.6 million for the year.

Centrepoint Group MD John de Zwart says transitioning to fee-for-service has made an impact, but the new revenue model is attracting more advisers to the company.

Adviser numbers grew 1% in the financial year to 1629.

“There has been a significant shift to the contemporary business model due to growth in salaried advice and self-licensed clients,” he said. “This was offset by run-off of grandfathered revenues and passive income streams.”

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