And not just joined - investment advisor and former Edmonton Journal editorial writer Peterson will be Deputy Chair of their Finance Committee.
Peterson was a BC Liberal candidate for nomination in the Vancouver-Fairview riding in 2008 - but lost the vote to Margaret MacDiarmid, who became the candidate and then MLA in the 2009 election.
And Peterson was a volunteer in Falcon's leadership efforts in 2011.
This news will hurt in BC Liberal-Land and is another sign of the imploding party.
The next question is whether Peterson will run in the 2013 provincial election - and where?