Count/Mortgage Choice break off talks
|
|
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.
AUTHOR
Caroline Munro
Recommended for you
Sharing his reasoning in joining the FSC board, WT Financial managing director, Keith Cullen, believes “product and advice cannot be separated” from each other in the current environment.
The Emerge Foundation, a charity run by financial advisers and fund managers, has announced a scholarship program to help veterans transition into tertiary education.
In an open letter, Sequoia chief executive Garry Crole has hit out against shareholders “with a personal axe to grind” as he fights for his job ahead of an EGM.
The JAWG has announced it is in talks with Treasury around five “core principles” to strengthen the education standards for new entrants to the financial advice space.
