Countplus continues acquisitions drive
Countplus, a subsidiary of Count Financial, has made two further acquisitions of accounting and financial services firms in Melbourne and Macksville, New South Wales — taking the total number of it acquisitions to 15.
The Melbourne deal involved a 25 per cent share purchase in Kidmans Partners, at a total cost of $578,000. The firm provides accounting advice and wealth management solutions covering investment, insurance and finance brokerage, and has revenue of approximately $3.4 million per annum, funds under advice of $36.5 million and loans under advice of $42 million. Countplus has an option to buy the remaining 75 per cent of the business on agreed pricing and at its discretion from 1 July, 2010.
The second deal was a 25 per cent share purchase in 360 Financial Vision at a total cost of $442,452. Countplus also has an option to buy the remaining 75 per cent of the business on agreed pricing and at its discretion from 1 July, 2010.
360 Financial Vision offers specialised services in taxation, self-managed super funds, business structuring, business valuations, acquisitions and succession planning, and has revenue of approximately $2.14 million per annum and funds under advice of $50 million.
Recommended for you
The FSCP has announced its latest verdict, suspending an adviser’s registration for failing to comply with his obligations when providing advice to three clients.
Having sold Madison to Infocus earlier this year, Clime has now set up a new financial advice licensee with eight advisers.
With licensees such as Insignia looking to AI for advice efficiencies, they are being urged to write clear AI policies as soon as possible to prevent a “Wild West” of providers being used by their practices.
Iress has revealed the number of clients per adviser that top advice firms serve, as well as how many client meetings they conduct each week.
