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South Australian wealth firms merge

An Adelaide wealth advisory and accounting practice has acquired a private wealth firm that was named the Financial Planning Association of Australia's Professional Practice of the Year in 2018.

Perks is expanding its Perks Private Wealth business after acquiring Wotherspoon Wealth, which was founded by a father and son duo in 2010 and won the FPA's Professional Practice of the Year award in 2018.

"Despite the current extraordinary conditions, at Perks we are optimistic about the future for South Australia," Perks managing director Mark Roderick said.

"We are focused on building a strongly resourced business with highly skilled people to advise our growing client based in what is a challenging business and investment environment. Our acquisition of Wotherspoon Wealth is a great example of this."

Perks is South Australia's largest privately-owned accounting and wealth advisory firm. It specialises in financial solutions (wealth management, auditing, finance, superannuation and insurance) to business owners, investors, families and high net-worth individuals.

Wotherspoon was Adelaide's first truly independent financial advice firm, according to Perks.

As a part of the merger, Simon Wotherspoon will become a director at Perks Private Wealth.

"Perks is self-licensed with a client-centric spirit, backed by expertise in direct equities and unlisted investment opportunities. Both teams have a collegiate style based on an individually tailored, rather than volume, approach to wealth management. There's a shared practice of openness and transparency in actively safeguarding client interests," Wotherspoon said.

"Culturally, it is a natural fit and strategically it also makes sense with access to a significantly bigger pool of expertise, for an even more comprehensive approach in our client's wealth management."

Read more: PerksWotherspoon WealthFinancial Planning Association of AustraliaPerks Private WealthMark RoderickSimon Wotherspoon
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