Bell Financial Group’s (ASX:BFG) Funds Under Advice Hit Record High in FY24, Sets Roadmap for FY25

Highlights

• BFG’s revenue surged 11.9% YoY to AUD 276.4 million in FY24, with profit after tax increasing 26.4% YoY to AUD 30.7 million.
• Funds under advice reached a record AUD 85.8 billion in FY24.
• BFG to focus on technology, advisory expansion, and product diversification in FY25.

Bell Financial Group Limited (ASX:BFG) is an ASX-listed financial services company that engages in broking, capital markets, and financial advisory. In the fiscal year ended 31 December 2024 (FY24), the company experienced broad-based growth across all divisions, leading to an 11.9% increase in annual revenue to AUD 276.4 million. This upward trajectory was accompanied by a significant 26.4% YoY rise in profit after tax, reaching AUD 30.7 million.

In addition to its revenue and profit growth, BFG saw a remarkable expansion in its funds under advice, which closed the year at a record AUD 85.8 billion.

Market Developments

In a significant corporate development, on 26 February 2025, BFG announced that ASX-listed company Selfwealth Ltd. had received a binding acquisition proposal at AUD 0.28 per share. In response, BFG clarified that it would not revise its own earlier bid to acquire Selfwealth nor make a counteroffer.

Outlook

Looking ahead to FY25, BFG has outlined an ambitious strategy centred on growth through technology, advisory expansion, and product diversification. The company plans to expand its advisory team, further strengthening client relationships while leveraging proprietary technology to enhance efficiency and cybersecurity.

Additionally, BFG aims to enhance its integrated platform for scalability and broaden its product offerings to reach a wider market.

Strengths and Challenges

BFG’s financial health improved significantly over the past year, with its EBITDA margin increasing from 19.6% in FY23 to 20.6% in FY24. Additionally, the company’s asset turnover ratio rose from 0.21x in FY23 to 0.25x in FY24.

Despite these positive trends, the company faced some financial challenges. Gross margin declined from 93.5% in FY23 to 92.1% in FY24, and BFG’s debt-to-equity ratio increased slightly from 2.61x to 2.67x.

Share performance of BFG

BFG shares closed 1.95% higher at AUD 1.31 per share on 31 March 2025. Over the past year, BFG’s share price has dropped by almost 3.68%, and in the last three months, it has decreased by 2.24%.

52-week high of BFG is AUD 1.505, recorded on 18 July 2024 and 52-week low is AUD 1.205, recorded on 9 September 2024. Currently, BFG is trading below the midpoint of its 52-week high and low.

Support and Resistance Summary

Note 1: Past performance is neither an Indicator nor a guarantee of future performance.

Note 2: The reference date for all price data, and currency, is 31 March 2025. The reference data in this report has been partly sourced from REFINITIV.

Technical Indicators Defined:

Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.

Resistance: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Resistance 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Resistance 2 may act as the crucial resistance level for the stock.

Disclaimer

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