Financial Standard Comments - CBA in takeover bid for Count Financial The Commonwealth Bank has announced a $373 million takeover bid for financial planning group Count Financial, which went into a surprise trading halt this morning before the news. https://www.financialstandard.com.au/feed/latest?story=12308607 Mon, 12 Sep 2011 11:59:54 +1000 Mon, 12 Sep 2011 11:59:54 +1000 en-AU Copyright 2026 Financial Standard 5 Comment by Simon () This is in my view an impact of the FoFA reforms - Independent dealer groups have to rethink their business models, one option being to become a fund manager themselves. In this case, Count appears to have taken the easy route and simply sold to a fund manager. Same thing happened in the UK apparently when the regulators tried to change the nature of adviser/fund manager relationships - and they got the oppposite effect when the independent advisors found it better to become tied to a fund manager. Result, less independent advisors...

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]]> Simon () Mon, 12 Sep 2011 11:59:54 +1000