Countplus names new chief executive


Countplus has named Phillip Aris, the current chief executive of its largest subsidiary Total Financial Solutions, as its new chief executive and managing director, replacing incumbent Michael Spurr.
Spurr announced in October that he would stand down from his role at the end of his four year contract in January 2015 with Countplus announcing today to the Australian Securities Exchange that Aris would succeed him from that time.
Spurr will remain in his co-role as chief financial officer for up to 12 months to assist in the transition and to complete work on a previously announced direct equity plan available to Countplus practices.
Aris will be replaced at Total Financial Solutions by his deputy Marcelo Fernandez.
Countplus chair Barry Lambert stated he would also continue in his non-executive role for a minimum of two years at the discretion of shareholders and fellow directors of the Countplus board while fellow director Graeme Fowler has been elected as deputy chair. At the same time David Smith has resigned from the board after four years with his position to remain vacant in the short term.
Countplus also named former Crowe Horwath senior executive Barry McGee to head up C2 - its new aggregation business for large accounting businesses — for a period of six months. McGee will report through to Aris and will initially work with Lambert.
Recommended for you
Sequoia Financial Group has declined by five financial advisers in the past week, four of whom have opened up a new AFSL, according to Wealth Data.
Insignia Financial chief executive Scott Hartley has detailed whether the firm will be selecting an exclusive bidder for the second phase of due diligence as it awaits revised bids from three private equity players.
Insignia Financial has reported a statutory net loss after tax of $17 million in its first half results, although the firm has noted cost optimisation means this is an improvement from a $50 million loss last year.
With alternative funds being described as “impossible” for fund managers to target towards advisers without the support of BDMs for education, Money Management explores the evolving nature of the distribution role.