Count increases PIS stake
Count Financial Limited has increased its share holding in Centrepoint Alliance Limited, the publicly listed entity covering Professional Investment Services.
Count announced to the Australian Securities Exchange (ASX) on Monday that it had lifted its holding in Centrepoint from 8.29 per cent to 9.27 per cent.
Count obtained its original 8.29 per cent stake in Centrepoint via a transaction with Aviva Holding Overseas Holdings Limited acknowledging PIS as the largest independent financial advice network by adviser numbers.
At that time, Count described its investment as “strategic” and something that gave it “greater optionality in the financial advice space as consolidation in the non-aligned part of the industry gathers momentum”.
The company said in a results announcement released late last month that it expected to see further rationalisation of all sectors of the financial services industry “and will consider opportunities as they arise in the light of future prospects”.
AUTHOR
Mike Taylor
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