Count lures four more IOOF firms
Count Financial has netted more adviser growth amid the changes being wrought because of IOOF’s acquisition of MLC Wealth with the company announcing today it has picked up four advice firms which had previously worked under IOOF licenses.
Following on from announcing the recruitment of three other advice firms affected by the IOOF/MLC Wealth transaction, Count announced that the four further firms recruited to its licenses had previously been part of the IOOF network, operating under the Bridges and Executive Wealth Management Financial Services licenses.
It said the three former Bridges firms will rebrand as:
- Magnis Financial Planning (formerly Bridges Thornleigh, NSW) – with Alison Antoinette as the principal adviser;
- Glenbuckie (formerly Bridges Launceston, Tasmania) with Glenn Torrents (principal) and Sally Bell as advisers; and
- Aim Financial Advice (formerly Bridges Essendon, Victoria) with Susan and Luke Di Pietro, a mother and son team.
Additionally, it said that Count was also being joined by Sydney-based accounting-led firm, Strategic Wealth Management (formerly licensed through Executive Wealth Management Financial Services) and led by principal Nicholas Moustacas.
Commenting on the decision to switch licenses, Moustacas said there were three key factors that stood out.
“The fact that Count Financial are not owned by a company that’s main priority is to sell product was important. Secondly, there are clearly no hidden agendas with their model. We have the support to succeed because they know our growth and success is linked to theirs,” he said.
“And thirdly, in my opinion their professional standards team is the best in the industry, which gives us comfort that the other advisers in the network will have the same high level of standards and processes that we strive to maintain.”
Count Financial chief advice officer, Andrew Kennedy said the appointment of all four firms was a huge coup for the licensee which continues to target quality advice firms to join its network.
“These are all quality advice firms that have a reputation for delivering exceptional client outcomes, so we’re extremely pleased to have them coming on board. They bring experience and expertise to our network and they will be a great cultural fit for the other advisers in Count Financial community.”
Recommended for you
Insignia Financial has made four appointments, including three who have joined from TAL, to lead strategy and innovation in its retirement solutions for the MLC brand.
The third quarter of 2024 saw the first positive increase in adviser numbers for 12 months, according to the latest quarterly Musical Chairs report, with new entrants overwhelmingly choosing to join privately owned firms.
As more advisers review their fee structures, Business Health has shared six steps to calculating the price to deliver financial advice services in a profitable yet suitable way.
ASIC’s Sarah Court has confirmed the regulator is carrying out systematic work on providers of unlicensed advice but admits it is a case of “whack-a-mole” when it comes to disciplining them.
