Perpetual buys wealth advisory firm Fordham for $35m

Perpetual buys wealth advisory firm Fordham for $35m

Financial services provider Perpetual Limited (ASX:PPT) has acquired Melbourne-based advisory firm Fordham Group for $35 million.

Fordham recorded a FY09 revenue of $22 million, with 75% and had around $500 million worth of funds under management as of November 2009, Perpetual said.

Perpetual CEO David Deverall said the acquisition complements well with its existing private wealth service offerings, and gives Perpetual a stronger foothold into the high-wealth advice market.

“Perpetual’s national market presence also provides a platform to expand our service offering to pivate business owners nationally,” he said.

Join the CIO Australia group on LinkedIn. The group is open to CIOs, IT Directors, COOs, CTOs and senior IT managers.

Join the newsletter!


Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags Mergers and acquisitionsFinancial ServicesPerpetual Limited

Show Comments