Countplus makes its eighth acquisition with the purchase of a 25 per cent stake in its first South Australian firm.
Count Financial's wholly owned subsidiary Countplus has made its first South Australian acquisition, with the purchase of a 25 per cent share in accounting firm Crosby Dalwood.
The acquisition is the eighth for Countplus, who has an option to buy the remaining 75 per cent of the business on agreed pricing, and at its discretion from July 1, 2011, or by agreement before that time.
The Adelaide-based firm currently has $65 million funds under advice, with around 30 per cent of the firm's $2.4 million total revenue derived from financial planning.
Crosby Dalwood's core clients include small business owners, retirees and clients approaching retirement age.
The accounting business also provides services to a number of younger clients, who will be the focus of the firm's future growth strategy.
"The business is located in one of the affluent areas of Adelaide, and is attractive due to its ability to offer a holistic professional advice service to a large percentage of its clients," Countplus chief executive Jeremy Wardell said.
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