CountPlus has continued its goal to generate scale with one of its member firms completing a tuck-in acquisition of a separate member firm.
Brisbane-based Cooper Reeves has acquired the financial advice services of CBD Wealth Solutions.
Key members of CBD Wealth will transition to Cooper Reeves as part of an agreed succession plan and a seamless transition for CBD wealth clients.
Cooper Reeves will pay $600,000 for the acquisition with an initial payment on completion and the balance dependent on recurring revenues 12 months post completion.
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CountPlus chief executive Matthew Rowe said there is a natural alignment between the two firms.
"Not only close geographically, each business has a strong reputation in their respective community. The firm's share similar values based on delivering exceptional client-focused advice," he said.
Cooper Reeves managing director Christine Robinson said the acquisition will be a positive outcome for CBD Wealth clients.
"The Cooper Reeves business is focused on creating exceptional client outcomes and we are excited to introduce the CBD Wealth clients to our firm and its strong client-first culture," she said.
"We believe the purpose, resources and experience at Cooper Reeves will deliver very positive and enduring client outcomes."
CountPlus has undertaken several tuck-in acquisitions and last month its subsidiary AdviceCo made a tuck-in acquisition of Arch Capital's accounting revenues.
In addition, CountPlus expanded its member network with Sydney-based financial advice firm Small & Gunn joining its licence.
The expansion follows a growth strategy which has seen 50 advisers added to its network since the start of this year.