Count expands ownership and launches Count Adelaide

Count has announced the completion of an investment in Bruce Edmunds in Victoria, and the merger of Crosby Dalwood and Warnecke & Co in South Australia.

Count now owns 40 per cent of longstanding family business Bruce Edmunds in Melbourne, while the merger of Crosby Dalwood and Warnecke & Co has led to the creation of Count Adelaide, with Count holding a 45 per cent stake; the merger takes effect from 15 August.

Count chief executive officer Hugh Humphrey said he is pleased to see the Count brand grow its national footprint.

“These two strategic transactions are further evidence of the disciplined execution of our growth and transformation strategy.

“Bruce Edmunds and Count Adelaide are both businesses centred around a passion for their clients. They have a strong cultural fit to our national network of firms that give clients the confidence to look ahead.”

Count announced its intention to invest in Bruce Edmunds last month.

At the time Mr Humphrey said: “This transaction supports our ambitious growth strategy and increases our market share in the accounting sector.”

Stephen Edmunds, managing director at Bruce 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 chose 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.

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.