Australian wealth advisory and accounting firm Perks has acquired local financial consultant Wotherspoon Wealth.

Wotherspoon Wealth was founded in 2010 the father-son duo of John and Simon Wotherspoon. The boutique wealth firm served South Australians providing customised advisory services.

Its financial planning services portfolio includes investment advice, life risk insurance, retirement planning, succession planning and family office among others.

In 2018, the acquired firm received Financial Planning Association of Australia (FPA)’s Professional Practice of the Year award.

As agreed, Wotherspoon Wealth will merge with Perks Private Wealth. Simon Wotherspoon will become a director at Perks Private Wealth.

The acquisition strengthens the combined firm’s resources and will help Perks to further bolster its footprint in South Australia as it seeks to build a strongly resourced business with skilled people who will advise its growing clientele.

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It will also help the company to explore new opportunities which includes access to alternative asset classes and dedicated in-house investment research team.

In a blog post, Perks said: “The combined expertise of both firms will see our clients benefit from further salient insights, deeper in-house expertise, off-market investment opportunities and the peace of mind provided by rigorous compliance frameworks and systems.”

“We are all excited about this next chapter of our Perks Private Wealth journey and look forward to 2020 and beyond, together,” the post further added.