Count negotiates further platform fee reductions
Accountancy-based dealer group Count Financial has added a further 18 firms to its network over the past 12 months in what appears to be a clear sign that the departures which followed its acquisition by the Commonwealth Bank have ceased.
Count Financial chief executive David Lane has told Money Management that the dealer group has not lost an adviser to Westpac-owned BT Financial Group in the past six months and that so far as he is concerned, that strained period in the relationship is at an end.
The degree to which it is at an end is reflected by the fact that BT is a sponsor of the Count dealer group conference which kicked off today, and at which Lane is set to make a number of key announcements, including the introduction of a short, 44-page statement of advice, the introduction of a listed securities solution for Count advisers, and the offer of an accountant's limited licensing facility.
This is allied to improvements to the group's fee disclosure arrangements and model portfolios.
Lane said that Count had also managed to deliver further cost reductions with respect to its Star and BT platforms as well as with IOOF's Pursuit Select.
He said that in terms of delivering on the dealer group's agenda over the past 12 months, he believed Count had fixed the things it said it would fix, including making paraplanning available to every adviser following the successful roll-out of a pilot program.
Looking at issues such as APES 230 and the limited licensing arrangements for accountants providing financial advice, Lane said he believed they represented sound outcomes and, with respect to the latter, something which had the potential to bring more accountants more directly into the financial advice field.
Recommended for you
Professional services group AZ NGA has made its first acquisition since announcing a $240 million strategic partnership with US manager Oaktree Capital Management in September.
As Insignia Financial looks to bolster its two financial advice businesses, Shadforth and Bridges, CEO Scott Hartley describes to Money Management how the firm will achieve these strategic growth plans.
Centrepoint Alliance says it is “just getting started” as it looks to drive growth via expanding all three streams of advisers within the business.
AFCA’s latest statistics have shed light on which of the major licensees recorded the most consumer complaints in the last financial year.
