Listed financial services firm Plan B Group has recorded funds under management, administration or advice (FUMA) of $2.18 billion as at 30 September 2011.
The figure represents a drop in FUMA of 5.7 per cent compared with the group's figures as at 30 June 2011.
The change in FUMA could be attributed to the poor performance of global equity markets over the period, the company said.
"Despite the global economic conditions, Plan B continued to record positive net fund inflows onto its platforms during the September 2011 quarter," it said.
Net fund inflows stood at about $27 million and the on-platform component of FUMA was $1.72 billon as at 30 September 2011, representing 79.2 per cent of total FUMA.
Last month, Plan B appointed Andrew Black as its new chief executive.
Under Black's leadership, Plan B could focus on pursuing new growth opportunities, given the company was well positioned for the proposed Future of Financial Advice reforms, Plan B chairman Bryan Taylor said.
Black, who has 30 years' experience within financial services, said part of his job would be to retain high-quality staff and foster a new generation to carry Plan B's value proposition forward.
He was most recently head of Skandia Australia when it was part of the global Old Mutual Group.
Prior to this, he was St George Bank general manager for private bank, margin lending and direct shares.
