TAL enters agreement for CountPlus to acquire its advice licensee

In a statement on Friday, TAL said the decision was made after a thorough review of the future ownership of the business, with the best interests of Affinia practices, advisers, and their clients taken into consideration.

The move is expected to provide greater access to affordable financial advice for Australians, according to TAL. 

TAL group chief executive officer (CEO) and managing director, Brett Clark, said: “We are pleased to have found in CountPlus a business which shares Affinia’s commitment to financial advisers and passion for delivering high-quality financial advice to its clients”.

“Financial advisers have a vital role in the community through helping Australians make financial decisions and plan with confidence for the future. We remain committed to supporting and building lasting relationships with advisers and will continue to advocate for the value financial advisers deliver to their clients and community,” Mr Clark added.

CountPlus CEO, Hugh Humphrey, called the acquisition a strategic move that cements CountPlus as the leading advisory firm and a major player in the future of wealth management in Australia.

“The acquisition is terrific news for CountPlus investors and continues to evidence the disciplined execution of our growth strategy. It brings the scale that we have been pursuing in Wealth, and builds on our already stable base,” said Mr Humphrey.

“Affinia advisers have a reputation for delivering quality financial advice which makes them a natural fit for our community. They have particular strength in delivering risk advice to clients, an area of growth opportunity for CountPlus.”

CountPlus added, in a separate statement, that the acquisition will add more than 100 high-quality, client-centric advisers from Affinia to CountPlus’ national community. 

On completion, CountPlus will represent around 400 advisers and $16.8 billion in client funds under administration.