Centrepoint Alliance delivers 17% earnings growth and divests lending aggregation business
Centrepoint Alliance has reported unaudited normalised EBITDA of $6.2 million for H1 FY26, representing a 17% increase on the prior corresponding period. The Centrepoint Alliance lending business divestment, announced alongside the earnings update, is expected to deliver an additional $0.4 million annual EBITDA uplift from FY27 through a strategic agreement with Astute Financial Management. The company has upgraded its full-year guidance to $11.75 million to $12.25 million (previously $11.5 million to $12.0 million), reflecting strong operational momentum across its core advice, licensee and investment businesses.
The (ASX: CAF) listed group is now Australia’s second-largest licensee by adviser count, supporting 588 licensed advisers as at 31 December 2025. The performance demonstrates continued operating leverage in the company’s core business lines, with management confidence reflected in the upgraded guidance range.
What is a lending aggregation business?
A lending aggregation business acts as an intermediary between mortgage brokers and multiple lenders, processing loan applications and facilitating access to lending panels. Aggregators earn revenue through upfront commissions on new loans and ongoing trail commissions from loan books over time. For a financial advice company like Centrepoint, operating an aggregation business provided additional revenue streams but required dedicated operational infrastructure.
Financial advice firms typically own aggregation businesses to offer integrated lending solutions to their adviser networks. However, running a sub-scale aggregator can divert management attention and resources from core licensee and advice services. By divesting the aggregation business whilst retaining key revenue streams and maintaining lending support for advisers, Centrepoint simplifies operations and refocuses on higher-margin licensee services.
Strategic agreement with Astute delivers earnings uplift
The Centrepoint Alliance lending business divestment involves a nil-cash transaction structure with Astute Financial Management. Under the agreement, Centrepoint divests its lending aggregation business (front-book new business revenue) to Astute whilst retaining the back-book revenue from existing loans. In exchange, Centrepoint secures 100% of the financial advice licence margin currently derived from Astute-aligned advisers operating under Centrepoint’s Australian Financial Services Licence (AFSL). Astute receives all new-business revenue generated from the divested aggregation business.
Centrepoint retains its Lending-as-a-Service (LaaS) business, credit licence, and salaried brokers, ensuring advisers continue to access integrated lending solutions without the company operating a sub-scale aggregator. The transaction is expected to deliver an EBITDA uplift of approximately $0.4 million per annum from FY27, with completion anticipated by 31 March 2026.
| What Centrepoint Divests | What Centrepoint Retains | What Centrepoint Gains |
|---|---|---|
| Lending aggregation business (front-book) | Back-book revenue | 100% licence margin from Astute-aligned advisers |
| New-business revenue to Astute | Lending-as-a-Service business | $0.4m annual EBITDA uplift |
| — | Credit licence and salaried brokers | Simplified operations |
The nil-cash structure means no balance sheet impact for Centrepoint whilst securing recurring licence margin and operational simplification. Both organisations have committed to ensuring business as usual with no disruption to advisers, brokers, or clients throughout the transition.
CEO commentary on strategic rationale
Chief Executive Officer John Shuttleworth positioned the transaction as a natural progression in the company’s transformation programme, emphasising the strategic alignment with Centrepoint’s focus on high-quality advice services.
John Shuttleworth, CEO
“This agreement represents a natural next step in Centrepoint’s transformation. By divesting a non-core, sub-scale aggregation business and securing the full licence margin from Astute-aligned advisers under our AFSL, we strengthen our recurring revenue base and sharpen our focus on delivering high-quality advice services.”
Management’s framing confirms the Centrepoint Alliance lending business divestment aligns with the long-term strategy of concentrating on licensee services, financial advice, and managed accounts rather than operating sub-scale lending aggregation infrastructure.
Upgraded FY26 guidance reflects operational momentum
The upgraded guidance range demonstrates management confidence in second-half delivery, with the $0.4 million EBITDA benefit from the divestment flowing through from FY27 rather than being included in the current year forecast. The guidance increase reflects strong H1 momentum and organic growth across the business rather than anticipated transaction benefits.
Key financial metrics supporting the upgrade include:
- Previous FY26 guidance: $11.5 million to $12.0 million normalised EBITDA
- New FY26 guidance: $11.75 million to $12.25 million normalised EBITDA
- H1 FY26 normalised EBITDA: $6.2 million (up 17% on H1 FY25)
- Divestment EBITDA uplift: $0.4 million annually from FY27
The company’s position as the number two licensee in Australia by adviser count provides a platform for continued operating leverage. The 588 licensed advisers supported as at 31 December 2025 represents the scale base from which margin improvements can be captured through simplified operations and strategic partnerships like the Astute agreement.
The transaction is described as earnings-accretive and is expected to strengthen Centrepoint’s long-term capital allocation framework through greater margin stability, according to the announcement.
Next steps and completion timeline
Completion of the transaction is expected by 31 March 2026, subject to execution of all associated documents and standard regulatory and operational transition processes. Both Centrepoint and Astute have confirmed their commitment to ensuring no disruption to advisers, brokers, or clients throughout the transition period.
Key dates for the transaction include:
- Transaction announced: 17 February 2026
- Expected completion: 31 March 2026
- EBITDA uplift commences: FY27
The near-term completion timeline presents minimal execution risk, with earnings benefits visible in FY27 results. The agreement formalises a long-term, strategically aligned commercial operating model between the two organisations, building on an existing cooperative relationship. For Astute, the transaction enhances scale in its national broker network through acquisition of Centrepoint’s front-book aggregation capability, consolidating broker support, lender relationships and processing under a single specialist aggregator platform.
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