CountPlus sets out to fill the big banks wealth vacuum
The ASX-listed wealth manager has amassed a $50 million war chest to acquire small firms, doubling down on one of Australia s most problematic sectors.
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On face value, a suburban accounting or financial planning business might not seem like a hot investment.
It s an industry that equity researchers at stockbroker Wilsons note offers annual growth of between just one and 3 per cent.
But more pertinently, it has become one of the most highly regulated and scrutinised corners of the economy. The corporate regulator, ASIC, banned 22 individuals from providing financial advice in the 2020-21 financial year alone, which naturally translates to serious reputation and commercial risks for any businesses employing or associated with them.
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