Count Financial has posted a 74% rise in first-half earnings, a sign that the advisory practice is on the right growth path, according to CountPlus, which bought the business from Commonwealth Bank in 2019.

The network booked $1.6 million in earnings before interest, taxes and amortisation (EBITA) for the six months to December 31, up from $926,000 in the prior corresponding period.

CountPlus CEO and MD Matthew Rowe says the shift to a plan built around attracting good advisers is yielding the intended results.

“The deliberate pivot to a ‘clean’ economic model has created a logical home for quality financial advisers to join the Count Financial national network,” Mr Rowe said.

“A sustainable Count Financial value proposition and underlying economic model supports our goal of being the natural ‘clean’ licensee destination for quality financial advisers.

“The business is demonstrating its competitive strengths within a challenging operating environment, with positive signals for growth.”

Gross earnings per adviser have increased by 38% to $264,000 since CountPlus acquired the business in 2019 for $2.5 million and it now takes half the time to produce advice documents compared to 12 months ago.

CountPlus says reported net profit at the group level grew 65% to $4.08 million while EBITA, excluding JobKeeper assistance, improved 21% to $6.2 million.

“These results represent a steady improvement, bolstered by disciplined financial controls, diligent operational process, and a focus on efficiencies in our core businesses,” Mr Rowe said.

“We see opportunity ahead to invest in underlying earnings of core firms that generate revenue through the delivery of client-centric accounting and financial advice.”