This will allow the company presenting itself as an independent family office to provide regulated investment services, the company announced on Thursday.
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“The license (…) complements the already operating family office model. Our ambition is to become the main partner for families managing significant capital: to see their entire asset structure, coordinate banks, asset managers, and other partners, and help make long-term decisions,” said Andrius Šuminas, head and partner of Perpetus Wealth, in a statement.
The company was granted a Category C license, allowing it to provide portfolio management of financial instruments and investment recommendation services.
Perpetus Wealth manages client capital worth about 600 million euros and aims to increase it to 1 billion euros within the next year.
The company has five partners: Mindaugas Jusius, Andrius Šuminas, Laurynas Jakaitis, Vaidotas Pupalaigis, and Simonas Jurgionis.
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