CountPlus member firm to acquire and merge
CountPlus member firm Unite Advisory has finalised terms to acquire and merge with Bentley Brett and Vincent (BBV), an accounting and financial advisory firm based in Coffs Harbour.
The acquisition of BBV was structured as an initial cash payment of $1.445 million, with further deferred payments linked to incentive criteria in 12 and 24 months with a total maximum purchase consideration of $1.7 million.
As part of the merger, Veronica Bruce, BBV director, would join Victoria Studley and Hilary Acheson as a principal and shareholder at Unite.
Bruce would also become a financial adviser within Count Financial’s national advice community.
Studley, Unite managing director, said the merger would be a good cultural fit for the business and bolstered the services available to clients in their community.
“BBV is a quality practice that has always focused on developing lasting partnerships with their clients,” Studley said.
“We are excited to bring our businesses together and continue our ‘grow with certainty’ philosophy.”
Matthew Rowe, CountPlus managing director and chief executive, said the merger was an example of the opportunities that come from the ‘owner, driver – partner’ model.
“The acquisition and merger of Unite and BBV is another example of how we identify and invest in quality people and businesses,” Rowe said.
“The existing clients of Unite and BBV will have access to a larger team with substantial experience in accounting and financial advice services.
“Both businesses understand the unique challenges faced by people in the Mid North Coast and will come together to continue meeting those needs.”
AUTHOR
Chris Dastoor
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.
