The IOOF Holdings Limited (ASX: IFL) share price rose close to its previous 52-week high this morning. The share price of the Australian financial adviser is up 22% in the past year, and up 72% in the past 5 years.
According to Google Finance, IOOF Holdings Ltd (IOOF) is engaged in financial advice and distribution, platform management and superannuation administration, investment management and trustee services, including estate planning and corporate trust.
The platform management and administration segment provides services through master trust platforms, which offer access point to a range of investment products. The investment management segment manages and invests monies on behalf of corporate, superannuation, institutional clients and private individual investor clients. The financial advice and distribution segment provides financial planning advice and stockbroking services, such as investment research, training, compliance support and access to financial products. The trustee segment provides custodial, agency and estate administration services.
IOOF shares have rocketed higher as investors cheer a booming financial advice sector and rocketing superannuation balances.
At a current share price of $10.02, IOOF shares are priced at around 22x full year earnings and pay a 5.2% dividend.
