In November alone, net inflows amounted to 209 million euro (-29% y/y), net of the record payment of taxes paid by customers, amounting to 296 million, confirming that Fineco is increasingly used by its customers as a reference bank.
Net inflows since the beginning of the year amounted to 4.147 million (-5% compared to the same period last year). The growth trend of “Guided products & services” continues: since the beginning of the year, premium income has been equal to 3.465 million euro, of which 185 million in the month of November alone. The incidence on the total AuM rose to 56% compared to 44% in November 2015 and 45% in December 2015.
In November, assets under management amounted to 28,1 million euro, assets under administration stood at 36,6 million and direct assets at 144,1 million.
Funding through the network of financial advisors amounted to €3.642 million, down 9% compared to the same period of 2015.
In terms of customer acquisition, 100.256 new customers have been acquired since the beginning of the year (of which 8.975 in November alone). The number of total customers as at 30 November 2016 was 1.112.556, up 7% compared to November 2015.
Total assets amounted to 58.025 million (+4,9% and +5,0% respectively compared to December and November 2015).
Alessandro Foti, Chief Executive Officer and General Manager of Fineco, declares: “We are very satisfied with this month's funding result, which is particularly positive if we also consider the extraordinary effect relating to the payment of taxes by our customers. Further confirmation of how customers perceive Fineco as a bank complete with all services, with excellent growth prospects for new credit solutions, including mortgages, credit lines and personal loans. Furthermore, the solid collection data of cyborg-advisory solutions is confirmed, once again testifying to the key role of professional financial advice in managing our customers' savings.
