Bell Financial Group delivered a robust 17.1% rise in net profit after tax to $36 million for 2025, driven by strong growth in its Platforms division and a rebound in market activity. The company declared a fully franked final dividend of 6.5 cents per share, signalling confidence as it prepares to launch a new wealth management platform in 2026.
- Net profit after tax increased 17.1% to $36 million
- Revenue grew 8.2% to $299.2 million
- Platforms division contributed 71.9% of net profit
- Record funds under advice reached $92.1 billion
- Fully franked final dividend of 6.5 cents per share declared
Strong Financial Performance Amid Market Volatility
Bell Financial Group Limited (ASX – BFG) has reported a commendable financial performance for the year ended 31 December 2025, with net profit after tax (NPAT) rising 17.1% to $36 million on revenue growth of 8.2% to $299.2 million. This result underscores the resilience of Bell Financial’s diversified business model, which successfully navigated a year marked by contrasting market conditions.
Despite a challenging first half influenced by geopolitical tensions and inflationary pressures, the Group benefited from a rebound in investor confidence in the second half, particularly within its Markets division. This division, encompassing Retail and Institutional Broking and Equity Capital Markets (ECM), saw revenue increase by 8.4% and NPAT by 10.3%, supported by a strong IPO pipeline and capital raisings exceeding $1.6 billion across 82 transactions.
Platforms Division Drives Recurring Revenue Growth
The Platforms division, which includes Technology & Platforms and Products & Services, was a standout contributor, delivering a 13.3% revenue increase to $97.2 million and a 20.5% rise in NPAT to $25.9 million. This division now accounts for 33.5% of total revenue and an impressive 71.9% of the Group’s net profit, reflecting Bell Financial’s strategic focus on scalable, recurring revenue streams that provide stability across market cycles.
Key to this growth was the successful migration of approximately 75,000 accounts from Macquarie Online Trading to Bell Direct, with over 65% of these clients now active on the platform. Additionally, the launch of the Bell Potter Private Wealth Platform in partnership with Praemium has positioned the Group to offer more holistic investment advice, broadening its footprint in the Australian wealth management sector.
Record Funds Under Advice and Shareholder Returns
Bell Financial’s funds under advice (FUA) reached a record $92.1 billion, up 7.3% from the prior year, while funds under management (FUM) increased by 7.5% to $9.5 billion. These metrics highlight the Group’s growing influence and client trust in its wealth management capabilities.
Reflecting the strong earnings growth, the Board declared a fully franked final dividend of 6.5 cents per share, payable on 19 March 2026, bringing the total dividend for the year to 9.5 cents per share, an 18.8% increase on 2024. The dividend yield rose to 10.3%, based on the closing share price at year-end, underscoring the Group’s commitment to delivering shareholder value.
Strategic Investments and Risk Management
Bell Financial continues to invest heavily in proprietary technology and cybersecurity, recognising these as critical enablers of operational efficiency and client experience. The Group’s focus on employee development is evident in its graduate and adviser training programs, designed to build talent and sustain long-term growth.
On the risk front, Bell Financial maintains a disciplined approach to capital allocation and actively manages financial, regulatory, and climate-related risks. Its inaugural sustainability report confirms that climate-related risks currently have a low financial impact, with governance and risk management processes firmly embedded at the Board and management levels.
Looking Ahead – Holistic Wealth Management and Growth Opportunities
As Bell Financial enters 2026, it is preparing to officially launch its enhanced wealth platform, which aims to provide clients with comprehensive investment solutions across their entire portfolios. This initiative is expected to increase fee-based revenue and earnings over time, nearly doubling the addressable market within the existing client base from $45 billion to $80 billion.
The Group also remains vigilant for external growth opportunities that complement its existing businesses and align with its strategic objectives. With a strong balance sheet and a clear vision, Bell Financial Group is well-positioned to capitalize on evolving market trends and investor needs.
Bottom Line?
Bell Financial’s 2025 results set a strong foundation for its strategic pivot to holistic wealth management, with market watchers keenly awaiting the impact of its new platform launch in 2026.
Questions in the middle?
- How will the new wealth platform affect Bell Financial’s revenue mix and client retention?
- What external acquisition targets align with Bell Financial’s growth strategy?
- How might evolving climate-related regulations impact the Group’s risk profile and disclosures?