Count investee makes Perth acquisition
Count Financial has continued its growth strategy with its wholly owned subsidiary Countplus announcing another tuck-in acquisition — this time a Perth-based accounting business D.F. Crawley and Associates.
In an announcement to the Australian Securities Exchange this week, Count said that its Perth-based investees, RLF Bentleys had undertaken the acquisition, which was a sole practitioner business with fees of around $650,000 covering a range of mainly high-net-worth individuals.
It said the total cost of the acquisition was $550,000 and was settled with $275,000 in cash with the balance payable over two years and subject to client retention provisions.
Count said the acquisition had expanded Bentley’s existing high-net-worth client base while enabling financial planning and other additional services to be offered to these clients.
Recommended for you
ASIC has permanently banned a former Perth adviser after he made “materially misleading” statements to induce investors.
The Financial Services and Credit Panel has made a written order to a relevant provider after it gave advice regarding non-concessional contributions.
With wealth management M&A appetite only growing stronger, Business Health has outlined the major considerations for buyers and sellers to prevent unintended misalignment between the parties.
Industry body SIAA has said the falling number of financial advisers in Australia is a key issue impacting the attractiveness and investor participation of both public and private markets.
