The principals behind the Freshwater Partnership have ended their business relationship and will run their individual businesses as stand-alone groups.

Julie Rigoni and Peter Dawson made the decision to run their businesses individually as of yesterday, with Dawson establishing his own recruitment firm under the name the Dawson Partnership.

Rigoni will continue her company structure, named Freshwater Financial Marketing, offering strategic advisory services and investment programs to local and overseas asset managers.

The Freshwater Partnership provided consultancy services to international fund managers on distribution and marketing in Australia, as well as recruitment services for senior level staff in the industry.

The two principals decided to split up to provide more clarity about the services they provide to the market.

"It is just too confusing for the two of us to be operating in one business, doing two different things," Dawson said.

"I will focus on the recruitment model that I've got. We are still working to help each other. We started working together in 1993 and we have remained good friends."

Rigoni confirmed the end of the partnership.

"Pete likes his recruitment and I prefer to put together investment programs, working predominantly with overseas investment firms," she said.

"My key area next year is continuing to work with managers on distribution strategies and work with the Fund Forum again."

In June, Rigoni led the first Australian delegation to the prestigious Fund Forum International in Monaco, and she is planning to put together a new panel for 2012.

"I'm also looking to doing the Fund Forum Asia in April next year, depending on the demand," she said.