Count Financial has put in an a counter offer to buy Lonsdale Financial Planning Group just days after DKN Financial Group (DKN) announced it was in talks to acquire the group.
Lonsdale Financial Group chief executive Mario Modica confirmed the group was in talks with DKN and said the offer from Count was received late yesterday afternoon.
“We’ve received an offer from DKN and Count has made a counter offer,” Modica said.
“At this stage, it’s best not to comment, though we received an offer late yesterday afternoon and now we need to digest that.”
In a statement released to the Australian Securities Exchange, Count said: “[it] strongly believes it is the most appropriate owner of the Lonsdale accounting-based group for many reasons, including Count’s performance-based business model, which transfers ownership annually to its members via Count’s option plan.”
“Additionally, Countplus Limited has a very attractive offering to assist with the listing of members’ firms on the ASX, as well as solving their succession funding issues.
“Lonsdale is a quality, long-established and largely accounting-based group which will extend Count’s coverage of the independent accounting and financial planning profession.”
Late last week, DKN stated it was in talks to acquire Lonsdale Financial Group (Lonsdale) and portfolio administration service Wrap Account Limited (WAL).
Zurich Financial Services is the majority stakeholder in Lonsdale and wholly owns WAL
According to the latest IFA Dealer Group Survey, Lonsdale has 231 advisers and $8.2 billion in funds under management (FUM). Count has 913 planners and more than $12 billion in FUM.
