Count invests in Victorian accounting firm

Based in south-east Melbourne, Bruce Edmunds is a family business running since 1966. Count will acquire a 40 per cent equity position in the firm as part of the transaction.

Count chief executive Hugh Humphrey said the transaction continued the firm’s strategy to invest in high-quality advisory firms.

“Bruce Edmunds & Associates has an enviable track record of delivering quality accounting services to clients and we are excited they are joining the Count community,” Mr Humphrey said.

“This transaction supports our ambitious growth strategy and increases our market share in the accounting sector.”

Stephen Edmunds, managing director at Edmunds, said the decision to partner with Count was based on a strong cultural fit between the businesses.

“Count’s client-centric values and sense of community resonated with us,” Mr Edmunds said.

“We are passionate about collaborating with our peers, enabling us to share best practices and we will have greater opportunities to achieve this through Count.”

In May, Count rebranded from its previous name, CountPlus. In addition, four equity partner firms have chosen to rebrand their firms as Count, which is the first time that partner firms have chosen to trade under the Count brand in the company’s 43-year history.

As such, Count said it expected to see an increasing number of firms take on the new brand and boost the company’s national reach.

“Our company name change, brand transformation, and new value proposition give our clients greater certainty about our offering, providing them with the confidence to look ahead,” Mr Humphrey added.

“We remain committed to delivering high-quality financial advice for our clients. This new strategy strengthens Count’s position as a major player in the future of wealth management advice in Australia.”

Also in May, Count announced it had successfully completed its acquisition of Affinia Financial Advisers from Australian life insurer TAL.

Count said the acquisition had expanded its wealth segment market share with the addition of approximately 100 “high-quality, client-centric” advisers to its national community. The firm noted it now advises on $16.8 billion in client funds under administration.

“The Affinia acquisition positions Count as Australia’s leading integrated accounting and wealth services provider and a major player in the future of wealth management in Australia,” Mr Humphrey said in a statement to the ASX.

“This strategic acquisition follows our recent brand transformation from CountPlus to Count and signals a dynamic new phase for the company, giving clients greater certainty about our offering and providing them with the confidence to look ahead.”