Financial advice businesses are red-hot among private equity firms. And financial adviser – and co-owner of Baz Luhrmann and Catherine Martin’s historic Sydney mansion Iona – Tim Eustace is making the most of it to court bidders a second time around.

Street Talk understands Eustace, who ranked No.17 on Barron’s list of Australia’s top financial advisers, has been soliciting bids for his high-net-worth advice business, Mercury Private.