Australian life insurer TAL has agreed to sell its financial advice business Affinia Financial Advisers to investment advice firm CountPlus for an undisclosed sum.
TAL said that the best interests of Affinia practices, advisers and their clients were “considered in the decision to review the future ownership of the business and enter into this agreement with CountPlus”.
Brett Clark, TAL Group chief executive and managing director, said: “We are pleased to have found in CountPlus a business which shares Affinia’s commitment to financial advisers and passion for delivering high quality financial advice to its clients.
“Financial advisers have a vital role in the community through helping Australians make financial decisions and plan with confidence for the future. We remain committed to supporting and building lasting relationships with advisers and will continue to advocate for the value financial advisers deliver to their clients and community.”
Hugh Humphrey, chief executive at CountPlus, added: “This strategic acquisition clearly cements CountPlus as the leading advisory firm and positions CountPlus as a major player in the future of wealth management in Australia.
“The acquisition is terrific news for CountPlus investors and continues to evidence the disciplined execution of our growth strategy. It brings the scale that we have been pursuing in wealth, and builds on our already stable base.”