Countplus acquires 25 per cent of accounting and financial planning firm
Count Financial subsidiary Countplus has acquired a 25 per cent share of accounting and financial planning firm Evolution Advisers for more than $585,000.
The acquisition involved a cash transaction of $234,234 and $351,352 in shares at a 12.5 per cent discount.
Countplus can buy the remaining 75 per cent of the business from July 2010.
The business is chaired by its founder, Warren Hodgson. There are four principals in the business. Evolution has revenue of $3.52 million per annum, with $40 million in funds under advice.
The acquisition will provide a good starting base for growth and accessing further incentives, Countplus chief executive Jeremy Wardell said.
Recommended for you
A Victorian accounting firm – in which Count holds a 40 per cent equity stake – has announced the acquisition of an accounting client book through a $1.4 million transaction.
Australian Ethical has reported its net profit after tax (NPAT) fell 15% to $9.6 million for the year ended 30 June, while its underlying profit after tax (UPAT) declined 7% compared with the year prior, to $10.3 million.
Insignia Financial has announced a 59% increase in its underlying net profit after tax (UNPAT) to $234.5 million in FY22.
Having completed their educational qualifications, those advisers who remain in the industry are reporting being “run off their feet” with new clients.
