Slide 1: Acquisition of Count Financial Limited
Acquisition of Count Financial Limited Building an Accounting-led financial advice business for the future 13 June 2019 PRESENTED BY Matthew Rowe, Managing Director and Chief Executive Officer Laurent Toussaint, Chief Financial Officer Count Financial Acquisition
Slide 2: Disclaimer
Disclaimer This document is a presentation of general Forward looking statements Pro forma financial information background information about the activities of CountPlus Limited (“CountPlus” or “CUP”) This document contains certain forward-looking statements and CountPlus uses certain measures to ma
Slide 3: Overview
Overview Transformational acquisition of Count Financial • Binding sale and purchase agreement to purchase Count Financial Limited (Count Financial) from the Commonwealth Bank of Australia (CBA) for $2.5M • CountPlus is the natural home for Count Financial • The full 100% of Count Financial will be
Slide 4: About Count Financial
About Count Financial Well established national network of firms • 359 financial advisers and 160 firms • Funds under administration (FUA) $8.1 billion • Gross revenue $93.8M and net revenue $25.2M (FY18 annual report) • Count Charitable Foundation – Philanthropic vehicle for charitable organisation
Slide 5: Strong strategic fit
Strong strategic fit Aligned to our vision • CountPlus is the natural home for Count Financial, we have a shared history • The sale of Count Financial to CountPlus is a good outcome for Count Financial advisers and clients • Acquisition is consistent with our vision to become Australia's leading net
Slide 6: Count Financial accelerates our growth strategy
Count Financial accelerates our growth strategy Accelerates vision to become Australia’s leading network of professional accounting and advice firms, aligned through shared values, mutual success and our sense of community STRATEGIC FOCUS Best practice firm level governance, Grow our network plannin
Slide 7: Transaction overview
Transaction overview Purchase price discount to net tangible assets • Binding sale and purchase agreement purchase price of $2.5M • Funded from cash reserves • Purchase price represents a discount to net tangible assets of Count Financial. Balance sheet has net assets of $15M, nil debt and net cash
Slide 8: Investing in Accounting-led financial advice
Investing in Accounting-led financial advice Increasing scale and exposure • The advice market is over $5.0B in Australia in revenue • 2.1 million Australians expected to seek financial advice in the next two years (Investment Trends) • Greater convergence between Accounting and financial advice fir
Slide 9: Next steps
Next steps Medium term target - profitable, compliant and sustainable financial advice offer • Strategic review of the value proposition i.e. what we do for Count Financial member firms • Integrate systems and processes • Rebuild of supervision and monitoring, quality assurance and training framewor
Slide 10: THANK YOU
THANK YOU Count Financial Acquisition 10