Financial Gravity Companies, Inc. (OTC: FGCO) has announced its third quarter financial results for 2024, highlighting a period of significant growth and operational success. The company reported an increase of over $50 million in assets under management, a rise in revenue by nearly $500,000 for the quarter, and a remarkable turnaround from a loss to a profit of $172,956.91 for the nine months ended September 30, 2024. These results underscore the company's robust business model and the increasing trust clients place in its comprehensive financial services.
The growth in assets under management is a testament to Financial Gravity's expanding client base and its ability to meet the complex financial needs of its clients. This expansion not only strengthens the company's position in the financial services industry but also enhances its capacity to deliver tailored financial solutions. The revenue increase, amounting to over $1,900,000 for the nine months ended September 30, 2024, further highlights the effectiveness of the company's strategic initiatives and the rising demand for its services.
Scott Winters, CEO of Financial Gravity, attributed the company's success to its strategic initiatives and the dedication of its team. The shift from a loss to profitability reflects the company's commitment to financial discipline and operational efficiency, marking a significant milestone in its journey. Financial Gravity's innovative approach, which includes providing tax professionals with a turnkey family office charter, has been pivotal in driving this success. This model enables professionals to offer comprehensive financial services, leveraging the company's systems, technology, and expertise.
Financial Gravity's services encompass proactive tax planning, retirement and estate planning, wealth management, and risk mitigation. The positive third quarter results suggest that this holistic approach is resonating with clients and meeting their financial needs effectively. As the company continues to focus on delivering value to clients and shareholders, its strong performance in the third quarter of 2024 positions it well for future growth. For more information, visit https://financialgravity.com.
While the third quarter results are promising, it's important to acknowledge that forward-looking statements involve risks and uncertainties. Factors beyond the company's control could impact future performance, making it essential for stakeholders to consider these variables when evaluating Financial Gravity's trajectory.
