Perks private wealth operation teams up with Frontier Advisors

Profession

14 September 2023

Philip King

perks private wealth operation teams up with frontier advisors

Need to know

The agreement will deliver “institutional grade” investment research to the firm’s clients.

The private wealth division of Perks has partnered with asset consultant Frontier Advisors to offer “institutional grade” investment research to clients.

The South Australian accounting group said the relationship with Frontier – its first with a wealth advisory firm – would enhance Perks’ bespoke advice service with “deep knowledge of global markets and key asset classes.”

Frontier, which describes itself as “Australia’s leading asset consultant” and is owned by super fund giants AustralianSuper, Cbus, Hesta and First Super, has more than $630 billion under advice.

Perks Private Wealth director Simon Wotherspoon (pictured) said the relationship was a “huge endorsement”.

“The knowledge and experience gained over their almost three decades advising Australia’s largest investors are now available to our clients through this new association,” he said.

“This relationship provides Perks Private Wealth with a point of difference among our competitors and underlines our commitment to innovation within our experienced wealth advisory division which has been supporting South Australians for 23 years and has $1.2 billion in funds under management.”

“It also complements the expertise of over 200 staff of the wider Perks firm, our dedicated Perks Private Wealth research team and our sophisticated Perks Private Wealth investment committee chaired by respected finance executive Christo Hall.”

Mr Hall’s experience included helping to oversee the $35 billion Asian Fundamental Equities team at US investment giant BlackRock and, more recently, a spell as chief investment officer at Ellerston Capital.

Frontier Advisors CEO Andrew Polson said the relationship strengthened the consultant’s links with South Australia.

“We have a strong stable of institutional clients in South Australia and with our local staff presence we are proud to be part of the Adelaide business community,” he said.

“This relationship with Perks makes that connection even stronger. We think this model brings Perks the best of bespoke advice and separate execution and allows Perks to retain control of its own decisions, which is a model we have not seen elsewhere in the market.”

Under the agreement, Perks advisers gain access to Frontier’s technology platform, research and market insights and the consultant will oversee Perks’ governance structure.

Perks, which is privately owned and self-licensed, retains full decision-making control and Frontier did not offer investment products of its own.

Perks Private Wealth was established within the Perks business in 2000 and has grown to manage $1.2 billion of private client funds under its own AFSL. It offers a fee-for-service model focused on tailored advice.

About the author

Philip King

Philip King is editor of Accounting Times, Accountants Daily and SMSF Adviser, the leading sources of news, insight, and educational content for professionals in the accounting and SMSF sectors. Philip joined the titles in March 2022 and brings extensive experience from a variety of roles at The Australian national broadsheet daily, most recently as motoring editor. His background also takes in spells on diverse consumer and trade magazines. You can email Philip on: [email protected]