Commonwealth Bank has bid to buy the Count Financial Group but it is business as usual for Count clients
You may have read that The Commonwealth Bank (CBA) recently, on 3 August, made an offer to buy Count Financial by purchasing all ordinary shares in Count. It is anticipated that this deal will go ahead in the absence of a superior offer, and subject to the offer being assessed as fair and reasonable by an independent expert. In addition, the proposal will be subject to a shareholder vote, and if 75% (by value) of shareholders are supportive the acquisition will proceed.
As far as our financial planning clients are concerned, it will be business as usual for Sam Laser & Co, in the event of this sale.
This is because:
- CBA understands the unique and non-aligned nature of the Count business and intends to operate Count as a standalone business, within CBA’s Wealth Management Division
- Count will retain its independent Approved Product List
- CBA intends to maintain the Count brand and franchise, with the support and resources of CBA, Australia’s largest bank
- Count will remain a Champion of Accountant Based Advice with existing high advice standards and integrity.