Arthur J. Gallagher, an Illinois-based insurance brokerage and risk management services firm, has purchased Brisbane-based Complete Financial Balance (CFB) for an undisclosed amount.

CFB, which was incorporated in 1989, is a financial services advisory firm that offers wealth management and employee benefits consulting services to business professionals and individuals throughout Australia.

Arthur J. Gallagher did not disclose the terms of the deal.

Arthur J. Gallagher chairman, president and CEO Patrick Gallagher said: "We are particularly excited to have completed the acquisition of CFB, our first employee benefits acquisition in Australia.

"Their team's solid culture, similar business model and commitment to delivering the highest professional standards will be a wonderful addition to our employee benefits consulting operations. We are pleased to welcome Graham, Tapel and their colleagues to our growing Gallagher family of professionals."