Count/Mortgage Choice break off talks
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Secret talks between Count Financial and Mortgage Choice about combining their respective mortgage businesses have been called off.
The discussions, which included entering a referral arrangement, have been called off without any agreement being reached, Count reported to the Australian Securities Exchange.
Count is now looking to increase resources for Count franchisees that wish to outsource home loan referrals, either by increasing its finconnect resources or by entering arrangements with mortgage broking groups in those areas.
The announcement was made in preparation for the group’s annual conference which commenced in Canberra this morning.
The conference represents the first official duty for incoming Count chief executive Andrew Gale, although he doesn’t officially step into the role until the end of this month.
In Friday’s statement Count chairman Barry Lambert said the proposed listing of Countplus remains on track to occur at the end of this year, pointing to the strong performance of Countplus businesses.
Countplus has made 13 acquisitions and settled eight tuck-ins to date, with up to five businesses expected to be settled by June 30 this year.
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