CountPlus to acquire TAL financial advice licensee
CountPlus has announced the strategic acquisition of Affinia Financial Advisers Limited from TAL.
The acquisition would add over 100 advisers to its national community and bolster CountPlus’ wealth segment, which would represent some 400 advisers and $16.8 billion client funds under administration upon completion of the deal.
Affinia had practices across the country, including risk specialists and holistic financial advisory firms.
CountPlus chief executive Hugh Humphrey believed the acquisition positioned the firm “as a major player in the future of wealth management in Australia.”
“The acquisition is terrific news for CountPlus investors and continues to evidence the disciplined execution of our growth strategy. It brings the scale that we have clearly stated we have been pursuing in Wealth, and builds on our already stable base,” he stated.
In its 1H23 results announcement, CountPlus had noted $8.4 million of its reported revenue of $45.5 million (adjusted EBITA performance) came from its wealth segment.
TAL Group chief executive and managing director, Brett Clark, said the decision came after taking into consideration the best interests of Affinia practices, advisers and their clients in entering this deal.
“We are pleased to have found in CountPlus a business which shares Affinia’s commitment to financial advisers and passion for delivering high quality financial advice to its clients.
“Financial advisers have a vital role in the community through helping Australians make financial decisions and plan with confidence for the future.
“We remain committed to supporting and building lasting relationships with advisers and will continue to advocate for the value financial advisers deliver to their clients and community.
“We wish Affinia together with CountPlus a successful future and we look forward to an ongoing partnership with CountPlus and their advisers.”
AUTHOR
Rhea Nath
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