Countplus has announced a partnership with accounting firm Hood Sweeney, which will see the national accounting and wealth advisory network acquiring a 25 per cent stake in the South Australian business.
Hood Sweeney is a South Australian professional services firm with 90 staff and offices based in Adelaide, Whyalla and Kadina.
It provides accounting, financial procurement, wealth management and information technology advice to individuals and small-to-medium-sized business.
Chairman Andrew Holsman said the aligned partnership offered a platform for future expansion and further strengthened Hood Sweeney’s market position.
“Hood Sweeney has experienced significant growth over recent years and, while we are pleased to be ranked the 32nd largest accounting firm in Australia, it is now time to prepare for the next stage in our business, and this aligned partnership will help us to achieve that,” he said.
“Our clients will have access to the extensive experience and additional professional services of a broad national network, and ensures we remain a sustainable and dynamic business through direct access to increased capital funding.”
Perfectly positioned
Executive chairman, Barry Lambert (right), said Countplus was pleased to welcome Hood Sweeney as an extension of its national accounting network.
“We have been impressed at Hood Sweeney’s reputation on both a local and national scale and welcome it as a new aligned partner in our national network,” he said.
“South Australia has an ageing population looking at ways to maximise their superannuation investment, well-established and diverse agricultural and farming activities and a growing number of people working in SMEs that need trusted advice – and we believe Hood Sweeney is perfectly positioned to offer support.”
“For SME’s in particular, Hood Sweeney has successfully developed a unique model of integrating its client services to encompass accounting and business advisory, financial planning, finance and technology services – and this level of integration is a key differentiator from traditional accounting firms.”
Under the agreement, Hood Sweeney will continue to operate independently under its own Australia Financial Services Licence and Australian Credit Licence, and Countplus will not have any representation on the Hood Sweeney Board.
