Count counters with offer to Securitor planners
Count Financial has moved to target what it believes is unrest among Westpac/BT Securitor advisers by offering them the opportunity to switch dealer groups.
Money Management has obtained a letter from Count Financial chief executive David Lane directly targeting Securitor financial advisers, and pointing out the scale of "transition payments" paid to former Count advisers to joint both Securitor and Magnitude.
In the letter, Lane claims that if the payments made to the former Count advisers are "not accompanied by similar payments to existing advisers" then they "fail to sufficiently recognise the loyalty and growth potential of existing adviser firms".
The letter then goes on to say, "if you feel your contribution to your Licensee has not been recognised or rewarded, I would urge you to consider what action you should take", adding that Lane would "love to have a chat with you on how Count can help grow your business".
Asked to comment on the letter, Lane confirmed its existence and said it reflected a number of calls from existing Securitor planners received by Count.
"Those planners have seen the reports of the sums paid to Count and they have indicated they are concerned they've been left out," he said.
"We believe what has happened has created a set of 'haves' and 'have nots' and what we are offering is to treat these planners with equality," Lane said.
Recommended for you
With Insignia shares up 32 per cent in the past month and the firm enacting a five-year growth plan, Morningstar believes the two recent acquisition bids from private equity firms demonstrate the company is undervalued.
As financial advisers enter the new year, Assured Support shares eight strategies to help advice businesses thrive through focused and consistent planning.
Insignia Financial has received a takeover bid from a second US firm, topping Bain Capital’s offer with a bid of $4.30 per share.
As the year comes to an end, Money Management takes a look at the biggest announcements that shocked the financial advice industry in 2024.
