Count Financial subsidiary Countplus has acquired Total Financial Solutions Dealership (TFSA) for $11.5 million.
TFSA has 70 advisers and $1 billion in funds under management (FUM).
"Two of the main attractions of TFSA are its new business model with advisers and distribution arrangements with its key platform provider, Oasis, that are both innovative and compliant with pending regulatory reforms," a statement from Countplus said.
TFSA is expected to earn $2.2 million in earnings before interest and taxation (EBIT) on a maintainable basis.
This, together with other investees, should result in annual EBIT for Countplus of around $20 million.
The acquisition is Countplus' last before its planned listing on the Australian Securities Exchange this December, the statement
All staff of the Sydney-base dealer group will join Countplus. TFSA will be independently managed and have its own board of directors.
TFSA's advisers are located throughout Australia and have signed new authorised representative agreements with Countplus' wholly owned Australian financial services licence, Compound Investments Limited.
