Updates

  • Count Financial Limited (Count Financial) has been purchased by CountPlus Limited (CountPlus). This means Count Financial is no longer part of the Commonwealth Bank Group (CBA). The sale was finalised on 1 October 2019
  • If you have current financial planning arrangements in place with a Count Financial adviser, your arrangements won’t change, and you don’t need to take any action
  • While Count Financial is now owned by CountPlus, CBA has committed to continuing to support and manage customer remediation matters arising from past issues at Count Financial. As previously announced, CBA will provide an indemnity to CountPlus of $200 million and all claims under the indemnity must be notified to CBA within four years
  • CBA’s commitment to Count Financial clients is contained in an Indemnity Deed Poll.  A copy of this document is available on request from countfinancial@cba.com.au
  • CBA will undertake a remediation program to determine if clients require fee refunds for a failure to provide ongoing service or because they received incorrect fee disclosure statements. CBA will also remediate identified customers who are owed compensation for inappropriate advice
  • If it is determined you are one of those clients, CBA will contact you with details of the mistake and how it will be fixed
  • The remediation programs will take some time given they extend back several years. We expect to be able to start contacting affected clients in 2020
  • If you have any questions please contact your Count Financial adviser or contact CBA on 1300 060 691 or countfinancial@cba.com.au