Perpetual Wealth Management has bolstered its ranks with five new senior financial adviser hires, including two who join from competitor Ord Minnett.
The wealth manager is set to welcome Michael Innes and Antony Pupovac to its private clients team in Queensland as partners in May.
Sandra Kent and Laura Bosman will also commence the private clients team in Western Australia as senior financial advisers later this month.
Meanwhile, Patrick Malone recently joined as a partner leading Priority Life, a specialist risk advisory business part of Perpetual Wealth Management.
Both Innes and Pupovac join from Ord Minnett where they spent 12 years respectively, with the former as a senior investment adviser and the latter as a senior private wealth adviser. Prior to this, the pair also worked together at Commonwealth Bank Private for five years.
Their appointments follow Ord Minnett hiring six senior advisers from Perpetual Private earlier this year, with the firm stating it was “actively recruiting top tier talent from all across Australia”.
Kent recently spent two years as a senior adviser at Western Australia-based advisory Grace Life & Wealth, while Bosman was an investment manager for a single-family office and previously spent six years at The Wealth Designers.
“As one of Australia’s premier providers of multidisciplinary wealth management services for high-net-worth clients, we’re thrilled to have such great talent joining our business and welcome this group of advice professionals to Perpetual,” said Mark Smith, Perpetual Wealth Management’s chief executive.
“The depth and breadth of their experience and skill set, coupled with our strong and dedicated existing teams, will play an important role in the continued growth and success of our business.”
Andrew Baker, managing partner of private clients, said the business is focused on the comprehensive needs of its clients, which includes individuals, families, business owners, professionals, and community organisations.
“Michael, Antony, Sandra, Laura, and Patrick bring a wealth of experience to our teams. Their diverse backgrounds and skill sets, together with their clear focus on quality client outcomes will seamlessly complement our existing teams serving clients across the country,” Baker described.
In its latest quarterly update for the three months to 31 March 2025, the wealth management division delivered $0.9 billion in net inflows, including a new institutional client win, which meant funds under administration rose 2 per cent to $21 billion.
During the quarter, the firm ceased its planned scheme with KKR to divest its wealth management and corporate trust business after an independent expert ruled it would not be in the best interest of shareholders.
However, Perpetual’s CEO Bernard Reilly has since stated it is still eager to pursue the divestment of its wealth management business.
