Bell Financial Group Ltd (ASX:BFG) is a diversified provider of financial products and software solutions within, and increasingly, outside its traditional full-service stockbroking business. In the 12 months to June 2023 ~73% of BFG’s profit before tax (PBT) was derived from outside stockbroking, including Australia’s only non-bank margin lending product, the licensing of internally-developed software to other financial intermediaries, third-party clearing, and fee income generated from portfol ....
