SFG Australia’s insurance and mortgage broking fees now account for 11% of its net operating revenue, generating $8.9 million of income in the six months to December 31.

Net operating revenue for the first half was $78.4 million, up 23.5% on the previous corresponding period result of $63.3 million.

The after-tax profit for the six months ending December 31 was $17.1 million, up 61.7% on the corresponding half-year result of $10.6 million.

SFG MD Tony Fenning says the result reflects improved consumer confidence, recent acquisitions and business investment.

“During the past six months we have continued to invest in the business through our Best Advice 3.0 program, to create the next generation of advice and implementation solutions for our clients, improving productivity and [achieving] continuous improvement in our overall capabilities.

“SFG has a program of migrating clients to more contemporary ‘best-of-breed’ offers… [which] is currently running ahead of schedule. More than 700 clients have transitioned to improved products and services.”

A bid to attract boutique dealer groups to the company has resulted in 10 Australian financial services licensees with about 28 authorised representatives joining the company.

Mr Fenning says SFG will now pursue organic growth and look to bring accounting firms into the company.