AUSTIN, TX / ACCESSWIRE / December 13, 2024 / Financial Gravity Companies, Inc. (OTC PINK:FGCO), proudly announces the filing of its year-end report for the fiscal year ended September 30, 2024. The results underscore a transformative year, highlighted by year-end profitability, significant growth, and strategic investments to enhance its offerings for financial advisors and their clients.
Financial Gravity remains focused on its mission to provide exceptional financial services to its clients through its proprietary Multi-Family Office model that provides integrated solutions that combine wealth management, tax planning, tax compliance and return preparation services, and risk mitigation. Financial Gravity will continue to focus on differentiating the company in the financial services industry by providing coordinated financial services in a one-stop shop and driving long-term value for advisors and their clients.
Key financial and operational highlights include:
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Profitability For Fiscal Year 2024: The company achieved a net income of $131,294 for FY2024, representing a dramatic improvement compared to the prior year’s net loss of over $(388,000), for a year-over-year improvement in excess of $519,000.
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Revenue Growth of Over 30%: Our improved operating results were largely due to an increase in revenue for the year of more than 30% over the prior fiscal year.
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Commitment to Advisors: Compensation to our advisors who drive revenue through the growth of assets under management increased by almost $900,000 for the year, which is a key component in recruiting and retaining advisors and aligns with the company’s mission to empower its partners and drive growth in assets under management.
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Strategic Investments in Offerings: Financial Gravity invested in its platform to make it more compelling for the advisors it recruits and their clients. Enhancements include proprietary content, the use of artificial intelligence to drive the integration of more services and automation features, and technology upgrades to enrich the advisor and client experience.
Scott Winters, CEO of Financial Gravity, stated: “FY2024 marked a pivotal year for Financial Gravity, with an improvement in net income over last fiscal year in excess of $500,000, a return to profitability for the year, and a 30% increase in revenue that drove the improvement in net income from the prior year. Our implementation of strategic investments will help ensure that we continue to deliver exceptional value to advisors and their clients while positioning the company for sustained growth. We are committed to advancing our mission to democratize the delivery of integrated financial services to mass affluent clients through our proprietary Multi-Family Office experience.”
The company’s blackout period has ended.
For more information about Financial Gravity Companies, Inc., and its financial services, please visit our website at https://financialgravity.com.
About Financial Gravity Companies, Inc.
Financial Gravity Companies Inc., along with its subsidiary companies, provide investment and tax professionals with a turnkey family office charter. We help tax professionals evolve from the commoditized business of tax compliance to a Family Office Director that runs and manages their own multi-family office. Family Office Directors are able to leverage the Financial Gravity systems, technology, proprietary resources, and deep domain expertise to bring an elevated and holistic financial service experience to their clients that spans proactive tax planning, retirement and estate planning, wealth management, and risk mitigation. For more information about Financial Gravity Companies, Inc., please visit: https://financialgravity.com.
Forward-Looking Statements
This press release contains “forward-looking statements” as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on current expectations and involve inherent risks and uncertainties, including factors that could delay, divert, or change any of them, and could cause actual outcomes and results to differ materially from the current expectations. No forward-looking statement can be guaranteed. Forward-looking statements in this press release should be evaluated together with the many uncertainties that affect Financial Gravity’s business, and Financial Gravity undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise.
Contact Details
Financial Gravity Companies, Inc.
Scott Winters
[email protected]
Company Website
https://financialgravity.com/
SOURCE: Financial Gravity Companies, Inc.
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