CountPlus expands SMSF services with new acquisition
CountPlus has announced the $9 million acquisition of Accurium from Challenger to expand its core service delivery to accounting firms and self-managed super funds (SMSFs) across Australia.
Under the terms of the deal, CountPlus would hold an 85% shareholding in Accurium with key management personnel holding 15%. Douglas McBirnie would become managing director of Accurium and all current serving team members would be retained by the business.
Matthew Rowe, CountPlus chief executive and managing director, said the firm had a strong platform to leverage the CountPlus competitive advantage within the accounting and SMSF administration service sector in Australia.
The move followed an earlier announcement of a 51% acquisition of Wealth Axis, a paraplanning, technology and administration services business and would be the second transaction under the firm’s ‘core-related’ strategy.
“Accurium sits naturally within our network and has a subscriber base of some 3,000 accounting firms and 11,000 SMSF professionals who require the efficiencies of online, automated actuarial certification and supplementary education and technical services,” Rowe said.
“The Accurium business is an online service provider, is highly automated, using proprietary actuarial calculators. It is technology-enabled with an ability to scale up as an ageing population transition their SMSF’s to retirement phase. Accurium estimates the current addressable market for SMSF Actuarial certificates is circa 140,000 funds.”
AUTHOR
Oksana Patron
Recommended for you
Compared to four years ago when the divide between boutique and large licensees were largely equal, adviser movements have seen this trend shift in light of new licensees commencing.
As ongoing market uncertainty sees advisers look beyond traditional equity exposure, Fidante has found adviser interest in small caps and emerging markets for portfolio returns has almost doubled since April.
CoreData has shared the top areas of demand for cryptocurrency advice but finds investors are seeking advisers who actively invest in the asset themselves.
With regulators ‘raising the bar’ on retirement planning, Lonsec Research and Ratings has urged advisers to place greater focus on sequencing and longevity risk as they navigate clients through the shifting landscape.
