Countplus subsidiary signs Count practice
Two boutique non-aligned planning firms have joined Countplus subsidiary Total Financial Solutions (TFS) claiming they were attracted by its ‘independent' culture and understanding of risk advice.
Melbourne based King Financial Group with six advisers and Curo Financial Services in Sydney with three advisers have signed with TFS according to its chief executive Phil Aris.
King Financial Group principal partner Barry King said the move was part of growth plans and that "TFS support of IFA's was a prerequisite of our business".
Curo director Ian Satill his business made the shift to TFS as "it is one of the few groups that understands and embraces the risk business, it has a well-developed risk management regime and its future growth plans fit very well with our future plans".
King Financial Group was previously licenced under the Principal Financial Group while Curo Financial Services was licenced under Count Financial.
Aris claimed the ‘institutional independence of TFS' was a drawcard for the King and Curo businesses and expected that more groups would be drawn by the same stating "we believe we have the adviser model of the future".
TFS was set up in 1999 and was acquired by Australian Securities Exchange listed group Countplus in 2010 and currently has 100 financial advisers operating out of 60 adviser owned firms.
AUTHOR
Jason Spits
Recommended for you
With the final tally for FY25 now confirmed, how many advisers left during the financial year and how does it compare to the previous year?
HUB24 has appointed Matt Willis from Vanguard as an executive general manager of platform growth to strengthen the platform’s relationships with industry stakeholders.
Investment manager Drummond Capital Partners has announced a raft of adviser-focused updates, including a practice growth division, relaunched manager research capabilities, and a passive model portfolio suite.
When it comes to M&A activity, the share of financial buyers such as private equity firms in Australia fell from 67 per cent to 12 per cent in the last financial year.
