CountPlus member firm completes acquisition
Brisbane-based CountPlus member firm Cooper Reeves has completed a tuck-in acquisition of CBD Wealth Solutions.
Both were member firms of CountPlus-owned Count Financial and key members of the CBD Wealth team would transfer to Cooper Reeves.
The personnel transfer was part of an agreed succession plan to ensure service continuity and a seamless transition for CBD Wealth clients.
Consideration for the acquisition was $600,000 with an initial payment on completion and the balance dependent on recurring revenues 12 months after completion.
Matthew Rowe, CountPlus chief executive, said there was a natural alignment between Cooper Reeves and CBD Wealth.
“Not only close geographically, each business has a strong reputation in their respective community,” Rowe said.
“The firm’s share similar values based on delivering exceptional client-focused advice.”
Christine Robinson, Cooper Reeves managing director, said she welcomed the acquisition as a positive outcome for CBD Wealth’s clients.
“The Cooper Reeves business is focused on creating exceptional client outcomes and we are excited to introduce the CBD Wealth clients to our firm and its strong client-first culture,” Robinson said.
“We believe the purpose, resources and experience at Cooper Reeves will deliver very positive and enduring client outcomes.”
AUTHOR
Chris Dastoor
Recommended for you
Licensing regulation should prioritise consumer outcomes over institutional convenience, according to Assured Support, and the compliance firm has suggested an alternative framework to the “licensed and self-licensed” model.
The chair of the Platinum Capital listed investment company admits the vehicle “is at a crossroads” in its 31-year history, with both L1 Capital and Wilson Asset Management bidding to take over its investment management.
AMP has settled on two court proceedings: one class action which affected superannuation members and a second regarding insurer policies.
With a large group of advisers expecting to exit before the 2026 education deadline, an industry expert shares how these practices can best prepare themselves for sale to compete in a “buyer’s market”.
