Count Financial has increased its stake in Centrepoint Alliance to 9.27%.

The financial services company acquired its original 8.25% shareholding when it bought the parcel of shares held by Aviva Overseas Holdings for $10 million in December.

These shares were part of an investment made by Aviva in Australia when it acquired a 27% stake in financial advice dealer group Professional Investment Services (PIS). This group subsequently merged with Centrepoint last year.

When Aviva Australia was taken over by National Australia Bank in 2009, the PIS shareholding was excluded from the deal.

Since the acquisition of this original stake in Centrepoint by Count, it has spent $1.16 million buying additional shares on market.

When it bought the original stake, Count says it regarded the move as a “strategic investment” as the financial services industry is expected to consolidate with the various impending regulatory changes.

Meanwhile, Centrepoint has raised $4 million through a share placement to buy out some businesses in PlS that are partly owned by the dealer group.

The shares were sold at $1.15 each to institutions and professional investors.