CountPlus (ASX:CUP) has finalised terms for the strategic acquisition of Affinia Financial Advisers from TAL.
Upon completion, the acquisition will add more than 100 high quality advisers to CountPlus’ national community, increasing its market share in wealth and funds under advice to around 400 advisers and $16.835B in funds under advice.
The consideration for the transaction is $3.373M, including cash of $3.790M and other non-cash net assets and acquired client relationships.
The acquisition will provide CountPlus with deep risk advice capability and leverage Count Financial’s market-leading licensee proposition, and TAL is providing specific warranties and indemnities for the business.
Shares of CountPlus closed up 11% today.