Advice389, the newly-established Countplus subsidiary, today announced the successful completion of its first partnership agreement with leading financial advice firm, Hunter Financial. Advice389 has purchased a 40% stake in the Newcastle-based firm. The sale was completed in early August.
Commenting on the partnership agreement, CEO of Advice389, Pierre Kraft, said that his team had evaluated a number of firms on the basis of strict criteria, including professionalism, the quality of their business model and their ability to grow, but it soon became clear that Hunter Financial would make the ideal foundation partner.
“That’s why we are so pleased to announce this first partnership with Hunter, because it really sets the standard for future partnerships with other financial advice firms,” Mr Kraft said.
Mr Kraft went on to say that Hunter Financial is a highly-regarded market leader with an unparalleled reputation for providing clients with high-quality, professional financial advice.
“Hunter has been growing very well organically, but is looking to step up to the next level, with help from Advice389. Our role is to facilitate that growth by investing in the business, while at the same time allowing Hunter to retain its branding and entrepreneurial control,” Mr Kraft said.
Mr Kraft said that Advice389’s business model is founded on the belief that a shared equity model means partner firms stay independent, but have access not only to capital, but to proven corporate best practice, a high calibre network of peers and business advice from leaders in the field.
“This means our partners can pursue growth opportunities not just for their business, but for their staff, knowing they are supported by one of the most respected professional services groups in Australia; Advice389 and its parent company, Countplus,” Mr Kraft said.
Director and CEO of Hunter Financial, Brian Kennaugh, said that he was attracted to Advice389 because the shared equity model allows Hunter Financial to stay independent and autonomous, while at the same time evolving with the help of a major listed partner.
“For us, the benefits of the partnership are twofold,” he said.
“First and foremost, the support we receive from Advice389 will enable us to continue to act in the best interests of our clients by providing outstanding professional advice. Secondly, our staff will benefit from many more opportunities as they pursue a career in financial advice,” Mr Kennaugh said.
In conclusion, Mr Kraft said that this first partnership with Hunter is the beginning of what he hopes will be a number of successful agreements with other quality financial advice firms around Australia.
“We’re off to a flying start with Hunter, and we expect to go from strength to strength when the success of this first partnership demonstrates the benefits of our equity partner model.
“Because when both parties benefit, it’s the definition of a win-win,” he said.
Source: Advice389
