Perpetual unveils new growth strategy
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Perpetual has revealed a strategy aimed at acquiring financial planning practices with strong high-net-worth clientele.
The strategy has been revealed by Perpetual chief executive David Deverall in a business update released to the Australian Securities Exchange today, in which he said Perpetual Private Wealth was acquiring businesses to achieve two specific goals: adding high-net-worth adviser practices, and providing clients with strategic advice rather than just investment advice.
The business update also referred to Perpetual adding niche client segments with the objective of acquiring high-quality books of clients, as well as clients that demanded the breadth of services that Perpetual could provide.
Deverall had earlier used the announcement of the departure of Perpetual's head of private wealth, John Nesbitt, to flag that the company had a number of acquisition and organic growth initiatives currently underway.
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