Count likes positioning
Accountancy-based dealer group Count Financial believes that its structure and accounting focus will prove beneficial when the Government’s current inquiries into the financial services industry are complete.
In a quarterly business report issued on the Australian Securities Exchange (ASX) this week, Count pointed to improving returns over the past quarter but also mentioned the degree to which the current Government inquiries, which include the Parliamentary Committee into Corporations and Financial Services and the Cooper Review, were impacting the industry.
Referring to the inquiries and their impact on adviser remuneration, the ASX announcement said Count was of the view that once settled, Count franchisees, “as fee-based professional accountants, will remain ideally placed to benefit in the personal advice space via their trusted long-term relationships with clients".
Looking at its performance over the last quarter, Count reported funds under advice in preferred platforms over the period were up 12.7 per cent but down 0.6 per cent over a 12-month period.
AUTHOR
Mike Taylor
Recommended for you
Net cash flow on AMP’s platforms saw a substantial jump in the last quarter to $740 million, while its new digital advice offering boosted flows to superannuation and investment.
Insignia Financial has provided an update on the status of its private equity bidders as an initial six-week due diligence period comes to an end.
A judge has detailed how individuals lent as much as $1.1 million each to former financial adviser Anthony Del Vecchio, only learning when they contacted his employer that nothing had ever been invested.
Having rejected the possibility of an IPO, Mason Stevens’ CEO details why the wealth platform went down the PE route and how it intends to accelerate its growth ambitions in financial advice.
