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Accounting network eyes SMSF firms in major overhaul
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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