Count sale saga rolls on
Count Wealth Accountants managing director Barry Lambert says rumours the group is looking to float on the Australian Stock Exchange are exaggerated, saying it is just one of five options being examined.
The listing option is the latest twist in the year long saga of the Count sale. The other four options still on the table are institu-tions - each either a bank, fund manager or life company - currently interested in taking a stake in Count, the country's last large inde-pendent planning dealers
Count Wealth Accountants managing director Barry Lambert says rumours the group is looking to float on the Australian Stock Exchange are exaggerated, saying it is just one of five options being examined.
The listing option is the latest twist in the year long saga of the Count sale. The other four options still on the table are institu-tions - each either a bank, fund manager or life company - currently interested in taking a stake in Count, the country's last large inde-pendent planning dealership.
Lambert hopes to be able to make a decision on Count's future within a month, but he says: "We are no hurry. We just want to make the best decision for our members.
"We have had a number of people talking to us for some time, but we have whittled it down. They got sick of us and we got sick of them."
He says any party that Count gets into bed with must be able to grow its business. No deal will be struck, Lambert says, unless Count be-lieves it can work with the group, "no matter how much they pay us".
Count has almost 500 franchisee accounting firms in its network and about 1000 property authority holders. Clients have about $4 billion in investments and loans with Count.
AUTHOR
Jason Spits
Recommended for you
ASIC has launched court proceedings against the responsible entity of three managed investment schemes with around 600 retail investors.
There is a gap in the market for Australian advisers to help individuals with succession planning as the country has been noted by Capital Group for being overly “hands off” around inheritances.
ASIC has cancelled the AFSL of an advice firm associated with Shield and First Guardian collapses, and permanently banned its responsible manager.
Having peaked at more than 40 per cent growth since the first M&A bid, Insignia Financial shares have returned to earth six months later as the company awaits a final decision from CC Capital.
