Brighter Super's decision stems from a recognized need to expand their advisory capabilities. By selecting Centrepoint as its preferred partner, Brighter Super seeks to deliver more comprehensive advisory services to its members. The acquisition involves up to 400 clients, contributing approximately $1 million in annual revenue.
The acquisition will see Centrepoint's subsidiary, Financial Advice Matters, taking the lead in offering tailored and in-depth financial advice to the transitioning Brighter Super clientele. Importantly, the purchase arrangement stipulates that only those clients who consent to transition to Financial Advice Matters by May 16 will be included, with the purchase price reflecting a 1.25 times multiple of the revenue transitioned.
This deal also involves offering employment to a predetermined number of Brighter Super's financial advisers through novated agreements, contingent on the successful transition of clients.
The acquisition is a pivotal step in Centrepoint's strategic growth, enhancing its market position in the financial advisory sector. By integrating Brighter Super’s clientele, Centrepoint aims to leverage this expansion to offer more nuanced and personalized financial solutions, addressing the increasingly complex needs of consumers.
Looking forward, this transaction is expected to fortify Centrepoint's footprint in the financial advisory industry, setting a precedent for future partnerships that align with their growth and service strategies. As the transition phase unfolds, market watchers anticipate further insights into the impacts and benefits realized by both Centrepoint and Brighter Super.
