Centrepoint Alliance Limited: Acquisition of Financial Advice Matters

Centrepoint Alliance Limited (ASX: CAF), a leading provider of business services to Australian financial advice firms, has finalized the acquisition of Financial Advice Matters Group Pty Ltd, a Brisbane-based financial advisory firm. FAM caters to about 1,450 client households, managing over AU$1 billion in Funds Under Advice (FUA) across 8 Queensland offices, generating $AU6.1 million in revenue during FY23.

Initially becoming a corporate authorized representative of CAF's subsidiary Alliance Wealth in 2015, FAM has significantly expanded, contributing substantially to the Centrepoint Alliance community. This acquisition is expected to notably augment CAF's revenue, increase the team of salaried financial advisors to 19, and expand the group's reach for future growth in various regions. The key transaction details include FAM's FY23 revenue of approximately AU$6.1 million, an anticipated EBIT contribution to CAF between AU$1.1 million to AU$1.5 million in the initial twelve months, and a total potential consideration of AU$10 million.

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