Australian financial advisory business Apt Wealth Partners has strengthened its national advisory footprint by snapping up Semaphore Private.

Financial terms of the transaction were not disclosed.

Headquartered in Melbourne, financial advisory firm Semaphore Private will now adopt the Apt Wealth Partners brand.

As part of the deal, Apt Wealth Partners will absorb Semaphore Private employees, who will operate out of the former’s Melbourne outpost.

Semaphore Private managing director Andrew Peters said: “After both parties conducted significant research to ensure there was an alignment of attitude and client care, we believe our clients will benefit from joining the Apt Wealth team.

“Clients will continue to receive services from their current advisers, as well as access to a range of enhanced investment offerings and services provided by Apt Wealth Partners.”

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Apt Wealth Partners provides expat advice, wealth protection, estate planning as well as superannuation and investment services, among others, through its branches in Sydney, Melbourne, and Geelong.

The firm oversees more than $1.5bn in client funds. Its managing director James McGregor will retain his existing role.

“Semaphore Private is a well-regarded advisory firm and shares our personal approach to wealth management and our core belief of helping clients to live for today while planning for tomorrow,” McGregor noted.