The cost of acquiring Professional Investment Holdings (PIH) has caused listed premium funder Centrepoint Alliance to miss its forecast break-even target.

Centrepoint has booked transaction costs of more than $400,000 in the half year to June 30, including payments to advisers, due diligence costs and binding bonus payments.

The company disclosed its position in a statement to the Australian Securities Exchange last week.

Financial advisory and accountancy network PIH will operate as the wealth management arm of Centrepoint Alliance when the merger, initially announced in April, is finalised.