Andy Forbes

Enterprise Self-Managed Superannuation Fund (SMSF) software administration provider, SuperConcepts, has released a trustee dashboard innovation called SuperMate Client View.

Firms using SuperMate can now offer SMSF clients a refreshed user experience that provides fund trustees with access to key information as well as an all-new communications channel for faster, end-of-year technical query completion.

SuperMate Client View is an enterprise-grade and mobile-first solution that builds on the software’s ability to simplify SMSF, Small APRA Fund and portfolio administration management. The new Client View ensures users stay connected and informed about their SMSF, offering a streamlined approach to trustee engagement.

Andy Forbes, Chief Technology Officer at SuperConcepts, explained the user-centric design philosophy of SuperMate: “Our software is built with the end user in mind, originating from decades’ fine-tuning what and how trustees want to view their data. Designed for administrators, accountants, and advisers, the software simplifies SMSF administration with its intuitive interface, thoughtful design, and cutting-edge features, such as automated compliance checks, integrated reporting, and robust data analysis tools.”

“The new Client View empowers administrators using SuperMate to grant end trustees a personalised SuperMate login and commanding dashboard that expedites the end-of-year lodgement process through efficient query handling,” Forbes said.

This announcement follows a series of impactful updates and enhancements in 20 software releases and over 250 developments since SuperMate’s acquisition from AMP in June. Spearheaded by a hand-picked management team with deep SMSF experience, the revitalised SuperConcepts has made it a priority to improve technology-driven client outcomes.

Matthew Rowe, Chief Executive Officer, SuperConcepts, stated: “The introduction of SuperMate Client View demonstrates our commitment to better serve our clients as a privately-owned business, providing subscribers with a comprehensive tool to inform, engage, and streamline the end-of-year query process.”

Forbes shared the team’s vision for SuperMate and what is next for the software: “Our team of specialists is working on improved corporate actions, broker feeds, workflow and a pilot of ACSISS Adviser for massively extended bank feeds. The commitment to innovation is unwavering, promising an even more robust suite of features for users.”

“SuperMate is not just a software solution; it’s representative of industry change. We believe in more Australians taking control of their superannuation through SMSFs, and accountants using SuperMate are helping make this vision a reality.”

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With over 25 years of experience in the accounting, tax and superannuation industries, Craig has established himself as a respected specialist in the SMSF space. Prior to joining SuperConcepts, Craig served in senior positions at leading accounting firms, most recently having managed accounting and tax strategy of SMSFs at Hood Sweeney.

In his Adelaide-based new role, Craig will work closely with the company’s experienced and well-regarded management team, consisting of Matthew Rowe, Managing Director, along with Chief Operating Officer, Brad Ackermann, and Executive Director of Client Services, Andrew Row. He is responsible for the oversight and management of the delivery of SMSF technical services to internal and external stakeholders, including trustees, advisers, and accountants.

Matthew Rowe reinforced the value in the addition of Craig, who began his tenure with SuperConcepts in August.

“We are thrilled to welcome Craig to the SuperConcepts team, and his appointment speaks to our focus on talent investment: bringing in people who have the expertise, skills and capacity to help us think differently about the future and build the business accordingly,” Rowe said.

“Craig is uniquely skilled at enabling the complex subjects of superannuation to be understood in a simple manner, and already in his short time at SuperConcepts he has led several client education-driven initiatives.

As someone both highly experienced and highly accomplished in his field of expertise, I am confident that Craig will make significant contributions in our ability to simplify SMSF to enable more Australians to control their super.”

On his new role, Craig commented: “I’m very excited to be a part of the dynamic team at SuperConcepts, all driven by the same goal: to increase quality outcomes to enhance customer’s SMSF experience.”

“As we witness a growing market demand for self-administration options beyond traditional superannuation funds, SuperConcepts provides an exciting opportunity to take part in a technology-led industry shift to empower more Australians.”

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Matthew Rowe

Sydney, July 14: CountPlus Limited (CountPlus) has announced that Member firm Unite Advisory Pty Ltd (Unite) has finalised terms to acquire and merge with Bentley Brett & Vincent (BBV), an accounting and financial advisory firm based in Coffs Harbour.

The transaction strengthens the team at Unite and the service they provide to the mid-north coast community. The acquisition of BBV is structured as an initial cash payment of $1.445 million, with further deferred payments linked to incentive criteria in 12 and 24 months with a total maximum purchase consideration of $1.7M.

As part of the merger, Veronica Bruce, Director at BBV, will join Victoria Studley and Hilary Acheson as a Principal and shareholder at Unite. Ms Bruce will also become a financial adviser within Count Financial’s national advice community.

Matthew Rowe, Chief Executive Officer and Managing Director of CountPlus, said the merger was an example of the opportunities that come from the ‘Owner, Driver – Partner’ model which then leads to positive client outcomes.

“The acquisition and merger of Unite and BBV is another example of how we identify and invest in quality people and businesses. The existing clients of Unite and BBV will have access to a larger team with substantial experience in accounting and financial advice services. Both businesses understand the unique challenges faced by people in the mid-north coast and will come together to continue meeting those needs.”

Victoria Studley, Managing Director at Unite, said the merger would be a good cultural fit for the business that also bolsters the services available to clients in their community.

“BBV is a quality practice that has always focused on developing lasting partnerships with their clients. We are excited to bring our businesses together and continue our ‘grow with certainty’ philosophy.”

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Matthew Rowe

Count Financial Limited (Count Financial) has released data around productivity improvements and efficiency gains for its national adviser network.

In an investor presentation that was released to the ASX yesterday, the CountPlus-owned licensee called out that technology-driven infrastructure, primarily through simplified and automated advice templates, had produced a 59% uplift in the production of advice documents in the first five months of 2021 compared to the corresponding period in 2020. Count Financial highlighted that this increase had been achieved despite a reduction in overall adviser numbers.

Revenue per firm has also increased 45% since CountPlus ownership took effect in October 2019, which was attributed to bringing quality advice firms into the community, combined with a leading education program and a culture of best practice sharing.

Matthew Rowe, Managing Director and CEO at CountPlus, said that the Count Financial has a strategic focus on growing the capability of its adviser community and bringing in new firms that are a positive cultural fit.

“Since October 2019, around half of our original adviser cohort have retired or left, and we have brought in 107 new advisers with a focus on quality and client-centric values. Our clean, sustainable operating model is resonating with advice businesses that want to be part of a licensee which is focused on professional services rather than product distribution, which is one of the reasons why we are seeing this productivity enhancement.”

Count Financial has appointed 25 new firms so far in 2021 with another four currently being onboarded.

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Matthew Rowe

CountPlus Limited (CountPlus) has announced a 51% investment in Wealth Axis, a boutique provider of paraplanning, technology and administration support services to financial planning firms across Australia.

The acquisition enhances the range of services that will be available to CountPlus and Count Financial’s national network of Member firms. This investment aligns with the CountPlus commitment to delivering service solutions that simplify and expedite the advice process.

Mikel Guyetsky will remain as Managing Director of Wealth Axis and CountPlus will make a capital investment to fund future growth and capability. The partnership with CountPlus will support Wealth Axis as it seeks to build long-term scale in delivering efficient solutions for financial planning firms and licensees. The investment in Wealth Axis will benefit existing clients through additional resources, scale and access to best practice capabilities.

Matthew Rowe, Chief Executive Officer and Managing Director of CountPlus, said the acquisition would create positive outcomes for clients, given the important role that these complementary services play in the overall advice process.

“We understand the importance of creating efficiencies in how we deliver advice so that advisers and their clients have a positive experience. Wealth Axis has a strong reputation for providing services that reduce costs and complexity for financial services businesses which provides real value. Importantly, they are also a business with shared values to CountPlus and their client-first mentality makes them a good cultural fit.”

Mr Rowe also highlighted acquisitions like this were evidence of the importance of being a financially sustainable business with the capacity for strategic growth.

“We speak openly about the need for a strong financial position to navigate the current dislocation in financial advice, and we understand our strong financial position provides certainty and stability to our member firm network and clients of Wealth Axis.”

Wealth Axis assists in reducing the cost and time burden of compliance and administration for financial advice firms by providing outsourced services in Paraplanning and Administration as well as technology systems and processes to leverage this service. Services include – implementation paperwork, applications, preparation of review reports, statements of advice, research assistance and revenue/brokerage administration. The business also provides technology support around implementing and customising advice technology solutions as well as reg-tech data solutions.

“CountPlus has shown that we are doubling down on our commitment to advice for the long-term, bucking the trend of exits across the financial advice industry,” Mr Rowe added.

Mikel Guyetsky, Managing Director at Wealth Axis, welcomed the investment by CountPlus and the benefits it will bring to clients at a time when quality advice is more important than ever.

“At Wealth Axis, we are passionate about what we do because we know the direct impact our service plays in delivering financial wellbeing to Australians. To be become part of the CountPlus community is an important milestone in our history and will enable us to build on our success and take our offer to the next level.”

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Matthew Rowe

CountPlus Limited (CountPlus) has announced that Brisbane-based Member firm Cooper Reeves Pty Ltd (Cooper Reeves) has finalised terms to merge with 4Front Holdings Pty Ltd (4Front), which is also from Brisbane. The firm will be re-branded as “4Front” and the transaction is expected to complete on 1 July 2021.

The 4Front merger will strengthen both firms and provide the necessary scale and opportunities to leverage expertise, particularly in financial planning. Revenue will double to circa $9 million, and the number of team members will increase from 26 to 53. Drue Schofield from 4Front will be appointed Managing Director of the merged firm and Christine Robinson (current Managing Principal at Cooper Reeves) will be appointed as Chief Operating Officer.

CountPlus currently owns 100% of Cooper Reeves and the company will retain at least a 51% shareholding in the merged entity, with six key members of the 4Front team to hold the remaining equity in 4Front.

Matthew Rowe, Chief Executive Officer and Managing Director of CountPlus, said the merger was an example of the opportunities that come from the ‘Owner, Driver – Partner’ model which leads to positive client outcomes.

“The merger of Cooper Reeves and 4Front is another example of how our model works on identifying and investing in quality people and businesses. The existing clients of both 4Front and Cooper Reeves now have access to a larger team with substantial experience in accounting and financial advice services.”

Christine Robinson, Managing Principal, at Cooper Reeves, said the merger would bolster the services available to clients in their community.

“4Front is a quality practice with shared core values that place the client’s best interests as its fundamental business purpose. We are excited to bring the businesses together and offer valuable financial advice services to their existing accounting clients.”

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Matthew Rowe

CountPlus has continued its focus on strategic growth, with Melbourne-based Member firm O’Brien Accountants & Advisers (O’Brien) announcing it has completed a tuck-in acquisition to acquire the accounting services of Hillard O’Donnell and Associates (Hillard O’Donnell).

As part of the transaction, Damian O’Donnell (Principal at Hillard O’Donnell) will acquire an equity interest in O’Brien under the CountPlus Owner-Driver, Partner model.

Consideration for the acquisition is $570,000, with an initial upfront payment and the remainder to be paid in 12 months and 24 months based on minimum revenues obtained.

Matthew Rowe, CEO and Managing Director at CountPlus said that the transaction was a positive result for the respective teams at O’Brien and Hillard O’Donnell.

“There is a natural alignment and cultural fit between O’Brien and Hillard O’Donnell. Both businesses have robust capabilities within their team and strong reputations in their respective communities. Hillard O’Donnell has a client-centric service offering which is a central tenet of alignment with the CountPlus values and purpose.”

CountPlus’ shareholding in O’Brien is unchanged from the transaction.

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Matthew Rowe

The first ever virtual Annual General Meeting of CountPlus Limited (ASX: CUP) yesterday heard a reiteration by the Company of its strong underlying financial position and targeted growth plans.

Deliberate operational focus and a disciplined approach to strategy helped the Company to deliver a Net Profit After Tax (NPAT) of $5.95M for the June 30, 2020 financial year. This compares with the previous NPAT result of $3.68M for the same period in 2019.

Yesterday’s update to investors revealed improvements to key financial metrics for the Company to 30 September, 2020. These include gross cash at hand of $27M combined with a debt facility of $25M to pursue strategic investment in core-related business opportunities; in “tuck-in” acquisitions and in other Owner, Driver-Partner growth opportunities.

For Count Financial, significant progress has been made across a range of key metrics as the Company focuses on efficiencies in the advice delivery process and a concurrent 39 per cent uplift in revenue per adviser.

“Investors yesterday heard that CountPlus, through its operational focus and financial discipline, is on track with its stated vision to become Australia’s leading network of professional accounting and advice firms,” said Chief Executive officer and Managing Director, Matthew Rowe.

“This is despite the currently challenging economic conditions, resulting from the COVID-19 pandemic. We remain confident that the Company can weather these challenges, but also take advantage of the numerous opportunities for growth we see in the dislocating financial advice sector,” he said.

Mr. Rowe confirmed a renewed Count Financial value proposition to financial advisers under a ‘clean’ client-focused licensee model had attracted record numbers of inquiries from financial advisers looking to join the network.

“At the time of this presentation we have had formal inquiries from 240 financial advisers seeking to join Count Financial. We remain vigilant with our growth plans and only 3 out of 5 financial advisers who get to due diligence stage are meeting required standards to be invited to join.”

Mr. Rowe concluded that CountPlus has the capital and capabilities to take advantage of opportunities that arise as the Company’s chosen markets “experience significant dislocation, headwinds and succession challenges”.

“We have in place the pre-requisites for prudent and selective expansion and look forward to updating the market on activities as they unfold,” Mr. Rowe said.

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Most recently, Colley was Chief Operating Officer of Faethm Pty Ltd, a global Software-as-a-Service augmented analytics platform which enables companies, governments and educators to understand the impact of emerging technologies on the Future of Work.

Ms Colley has also worked with the Banking and Insurance Group of KPMG and BT Financial Group and was Chief Operating Officer of both Asgard Wealth Solutions and St. George’s Wealth Management division. Post the integration of St. George with Westpac in 2009, Colley also worked at Macquarie Bank where she was Head of Strategy for Macquarie Advisor Services and then Head of Personal Banking.

Colley currently holds a number of other Director roles, including an Independent Non-Executive Director of the subsidiary settlement and clearing boards of the Australian Securities Exchange (ASX), an Independent Non-Executive Director, Member of the Audit and Risk Committees and Chair of the Board Claims Review Committee of OnePath Custodians and Oasis Fund Management, IOOF’s Superannuation businesses and an Independent Non-Executive Director and a Member of the Information Technology and Human Resources and Remuneration committees of ASX- listed salary packaging and leasing business Smartgroup (ASX:SIQ). She is also a Director and Deputy Chair of Liverpool Neighbourhood Connections, a community based not for profit organisation.

CountPlus CEO Matthew Rowe said that Ms Colley’s appointment was a fantastic addition to its Board.

“Carolyn’s resume clearly speaks for itself and I’m delighted that she has joined our Board of Directors. Her experience in financial services and technology will be key as we continue to drive new, smarter ways of doing business within our accounting and advice member firms. Carolyn will also Chair our newly formed Technology and Innovation Board Committee to ensure that this business function has dedicated leadership and vision.”

Colley’s appointment means that the CountPlus Board is now comprised of 50% female directors.

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Matthew Rowe

With selective growth targets, CountPlus Member firm Mogg Osborne has today announced completion of a tuck-in acquisition with Albury, NSW- based Freedom Accounting Group Pty Ltd (Freedom Accounting).

The acquisition is structured as a cash payment of $0.7 million, with an initial payment on completion and the balance dependent on recurring revenues for the 12-month period post completion. The transaction also gives existing Freedom Accounting clients access to high- quality financial advice services through Mogg Osborne, licensed under Count Financial.

Mogg Osborne has a strong presence in regional towns close to the Victorian and NSW border, with offices in Cobram and Finley. The acquisition of Freedom Accounting expands Mogg Osborne’s footprint in the region and provides greater access to quality financial services for people in one of Australia’s biggest regional centres.

“CountPlus is pleased to see the expansion for Mogg Osborne because we’re true believers in the value that quality accounting and financial planning can provide to Australians, especially family and small businesses in rural communities who have faced unique challenges in recent times,” CountPlus CEO, Matthew Rowe, said.

“This acquisition speaks to the quality tuck-in opportunities that are available to the CountPlus network due to our strong balance sheet and strategic growth focus,” he added.

Sharon Postlethwaite, Chief Executive Officer of Mogg Osborne said the acquisition of Freedom Accounting would be a boost for people in the community.

“Freedom Accounting is a quality practice with similar core values and a consistent approach to client service as Mogg Osborne. Their retiring Principal, Marian Adams will remain with us to assist with the smooth client transition and we expect this acquisition to add significant value and future strong relationships to Freedom Accounting’s clients.”

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