Countplus acquires 40% stake in Victorian firm
In what it said is the first of an expected round of selective growth transactions, Countplus has acquired a 40 per cent stake in Victorian-based O'Brien Accountants & Advisors.
In a statement, Countplus said the O’Brien transaction signalled an opportunity to optimise the convergence trend between high-quality accounting and advisory services firms.
“O’Brien is a standout, second-generation family business with great people, a client-centric culture – and it brings a clear growth and values mindset in line with that of CountPlus,” said CountPlus CEO Matthew Rowe.
Count said that in 2017, O’Brien attained the status of the number one quality firm in the Count Financial network nationally and is currently the largest Count member firm in Victoria.
Rowe complimented the O’Brien leadership team on meeting CountPlus’ acquisition criteria.
The O’Brien transaction is the first investment made by CountPlus under its “Owner, Driver – Partner” model, whereby CountPlus remains an equity partner alongside firms that ‘own and drive’ their future growth and profitability.
“O’Brien is a genuine fit to the ‘family photograph’ for us. Adopting our Owner-Driver, Partner initiative gives the right level of autonomy to the firm and the benefits of the financial and intellectual capital that CountPlus has to offer,” Rowe said.
“The O’Brien acquisition begins the growth chapter for CountPlus, as we shift from looking within, to identifying external opportunities to grow our network.”
Recommended for you
Sharing his reasoning in joining the FSC board, WT Financial chief executive, 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.