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Accounting network eyes SMSF firms in major overhaul

Accounting network eyes SMSF firms in major overhaul

Katarina Taurian
13 June 2018 — 1 minute read

Countplus is halfway through a significant overhaul of its business and expansion strategy, and its chief executive sees SMSF services as a central component to its future network growth.

The ASX-listed business is 12 months into “completely changing” its business model, from one that wholly owns firms within its network to one that takes a minority stake.

At the moment, the business is in the process of selling down equity in firms where it has a majority stake.

Countplus chief executive Matthew Rowe said the business has significant interest in firms with an SMSF service line, given the market demand for financial planning and retirement-centric services.

“I can see a time where, for every $100 a firm brings in, $60 of that will be from accounting and $40 of that will be from financial planning and SMSF services. We see it as a growth area,” Mr Rowe told SMSF Adviser.

Mr Rowe sees “huge” unmet needs for advice — particularly related to tax, superannuation and financial planning — in the small business people market.

Countplus recently hired the ex-chief executive of the Bentleys accounting network, Mark Chapman, as chief operations officer. He is behind much of the face-to-face network relations, including training and development.

“He is currently meeting with the managing principals of every one of our firms to do a deep dive into their key priorities,” Mr Rowe said.

Countplus currently has 17 firms in its network across Australia.

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Accounting network eyes SMSF firms in major overhaul
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