Perpetual builds medical practice
Advice group, Perpetual, aims to grow the medical arm of its business following its acquisition of health care specialists, Fintuition.
Announcing the acquisition of the advice group, including its The Private Practice brand, Perpetual Private group executive, Mark Smith, described the firm as a "great fit", having previously had a strategic partnership with the business.
"This acquisition comes after a significant period of exploration and assessment," he said.
"It's a great fit as at the heart of both organisations is trust, integrity and a deep commitment to the financial wellbeing of medical professionals.
"It extends our ability to offer the breadth of our services across accounting, tax, estate planning and financial advice to high net worth clients. It also maximises the strengths we have in our business and allows us to deepen our offer to the medical sector.
"Perpetual has enjoyed a strategic partnership with The Private Practice for some time and this acquisition extends that commitment.
"The Private Practice's success is founded on a deep understanding of the specific needs of medical specialists. They have developed a unique business model for delivering education and advice to busy professionals in a structured and accessible way."
Fintuition director, Warren Skinner, said the deal would enable health care professionals to access a broad range of services, including support in setting up their own medical practices.
"With Perpetual's deep history as an independent wealth manager, it was clear from the outset we share a dedication to helping people address their business, financial and lifestyle challenges and opportunities," he said.
"The Fintuition Group and Perpetual medical specialist clients will benefit from education on medical practice set up, management and growth, through to lifestyle planning and positioning for succession and retirement."
AUTHOR
Nicholas O'Donoghue
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