Count MKII -
Count Financial is set to roll out a new financial planning group, Compound Investments, to sit alongside Count Wealth Accountants.
Count managing director Barry Lambert says Compound will follow a similar model to Count Wealth Accountants but will be open to non-accountants.
Compound Investments was owned by Lambert until January when he sold it to the listed Count Financial for $105,000.
The new group, which is expected to launch in the second half of this year, will be headed up by Geoff Guest, previously Victorian director of Count Wealth Accountants.
Apart from offering financial planning services, Compound advisers will also work with accountants outside the group who are not yet ready to provide a dedicated financial planning service.
When the new group is launched, Lambert says it will make use of Count's existing back office systems.
Compound advisers will pick up equity in Count Financial through a performance based equity scheme. Further down the track, Compound is also expected to list on the ASX.
"We hope to attract advisers away from small dealer groups and institutions, especially those who feel they have been sold out or that their business has no future in its current environment," Lambert says.
In a separate move, Count Financial is also looking at setting up an accounting franchise which will pick up accountants disillusioned by the activities of consolidators.
AUTHOR
Jason Spits
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