As part of the acquisition, joining Perpetual is Financial Pursuit director and founder Fred Marishel and Financial Pursuit staff and advisers Maria Dyson, Andrew Kantas and Andrew Wanandy.
"Perpetual will provide us with the technical, back-office and administrative support to allow us to continue to effectively service our clients without distraction," Marishel said.
Perpetual offered one of the broadest suites of services to the high net worth market and with clients requiring greater access to specialised advice, that arrangement ensured Financial Pursuit's clients were able to draw on Perpetual's expertise, he said.
The acquisition price for Financial Pursuit, a Sydney-based practice that boasts more than 250 clients and revenues of about $2 million a year, was not disclosed.
Perpetual Private Wealth group executive John Nesbitt said the acquisition of Financial Pursuit was an example of Perpetual's strategy to expand its private wealth division through acquiring complementary businesses that specialised in the high net worth market.
