Harts acquires accounting group in NZ
Listed accountancy and financial planning consolidator Harts Australasia has added yet another accounting firm to its register with the purchase of The Business Results Group for an undisclosed sum.
The acquisition of the New Zealand-based group brings the number of accounting firms bought by Harts to 15.
The Business Results Group, formerly Viv Brownrigg and Associates, turns over $NZ1.1 million per year and has 1300 clients, according to Harts.
The Queensland-based group is currently in discussions with more than 70 firms across Australia and New Zealand.
As previously reported in Money Management, the acquisitions by the group are in keeping with its business plan to create a vertically integrated financial services group with a major presence in Australia and New Zealand.
In January this year, Harts purchased Reeves Moses Hudig a New Zealand-based financial planning and funds management group. It also purchased Mobile Accounting Professionals.
In August, Harts purchased mortgage securitisation business First Mortgage Corporation and leading trustee and portfolio management group Cardinal Financial Securities (CFS).
AUTHOR
Recommended for you
A Victorian accounting firm – in which Count holds a 40 per cent equity stake – has announced the acquisition of an accounting client book through a $1.4 million transaction.
Australian Ethical has reported its net profit after tax (NPAT) fell 15% to $9.6 million for the year ended 30 June, while its underlying profit after tax (UPAT) declined 7% compared with the year prior, to $10.3 million.
Insignia Financial has announced a 59% increase in its underlying net profit after tax (UNPAT) to $234.5 million in FY22.
Having completed their educational qualifications, those advisers who remain in the industry are reporting being “run off their feet” with new clients.
