Arthur J. Gallagher & Co., a global insurance brokerage, risk management, and consulting services, announced the acquisition of Wealth Management Partners Pty Ltd (WMP), a financial planning firm based in Perth, Western Australia. The terms of the deal were not disclosed.

WMP specializes in retirement plan risk management, providing services to both individual and corporate clients in Western Australia. According to a news release, the firm’s leadership team, including Steve Beattie, Troy Hartley, Janusz Mazurek, and Adrian Whitaker, will continue to operate from their current location. They will report to Graham Campbell, who heads Gallagher’s employee benefits and HR consulting operations in Australia.

J. Patrick Gallagher, Jr., chairman and CEO of Arthur J. Gallagher & Co., expressed enthusiasm about the acquisition. “WMP’s client-focused approach and expertise in retirement planning will enhance our financial wellbeing consulting capabilities in Australia,” he said. “I am very pleased to welcome Steve, Troy, Janusz, Adrian, and their associates to our growing, global team.”

Arthur J. Gallagher & Co. operates in approximately 130 countries, offering a broad range of services through its owned operations and network of correspondent brokers and consultants.

The company reported strong financial results for Q3, ending Sept. 30, 2024, with total revenue reaching $2.77 billion, a 13% increase from $2.45 billion in Q3 2023. In the brokerage segment, revenues grew to $2.4 billion, up from $2.1 billion in the previous year, with net earnings rising to $383 million. Adjusted revenue for the segment was $2.37 billion, with adjusted EBITDAC of $797.7 million and adjusted EPS of $2.50.

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