Australian life insurer sells financial advice license


TAL, a leading Australian life insurer, has entered an agreement to sell its financial advice licensee, Affinia Financial Advisers Limited (Affinia), to CountPlus Limited (CountPlus).

TAL aims to protect its customers, from covering children’s education to keeping up mortgage payments. The company protects more than 5 million customers.

The best interests of Affinia practices, advisers and their clients were considered in the decision to review the future ownership of the business and enter into this agreement with CountPlus, a leading financial advice and accounting firm.

According to Tal, Australians need and deserve greater access to affordable financial advice. CountPlus is best placed to continue to enable Affinia’s strategy, grow and support Affinia advisers and their clients.

Brett Clark, TAL group CEO and managing director, said, “We are pleased to have found in CountPlus a business which shares Affinia’s commitment to financial advisers and passion for delivering high quality financial advice to its clients.

“Financial advisers have a vital role in the community through helping Australians make financial decisions and plan with confidence for the future. We remain committed to supporting and building lasting relationships with advisers and will continue to advocate for the value financial advisers deliver to their clients and community.

“We wish Affinia together with CountPlus a successful future and we look forward to an ongoing partnership with CountPlus and their advisers.”

Hugh Humphrey, chief executive officer at CountPlus, added, “This strategic acquisition clearly cements CountPlus as the leading advisory firm and positions CountPlus as a major player in the future of wealth management in Australia.

“The acquisition is terrific news for CountPlus investors and continues to evidence the disciplined execution of our growth strategy. It brings the scale that we have been pursuing in Wealth, and builds on our already stable base.”

Earlier this year, FOXO Technologies, a technology company applying epigenetic science and AI to modernise the life insurance industry, partnered with AmSuisse to distribute life insurance.

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