A team of four senior executives have quit Macquarie Private Wealth (MPW) to start their own boutique wealth advisory firm, which backed by Bennelong Wealth Partners (BWP).
The new firm, Sovereign Wealth Partners, has been established by Jeffrey Wrightson, Stephen Thaxter, Chris Forrest and Nina Kazmierczak.
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Bennelong Wealth Partners will hold a minority stake in the business, while the four advisers will take the majority stake.
Wrightson, who was a division director at Macquarie Group, said that the new advice firm will target HNW clients.
BWP, owned by the Bangarra Group, was developed as an incubator for financial planning businesses. It provides the tools and backing required for senior HNW wealth advisers to leave institutions and set up their own firms.
Bennelong Wealth, which already has teams in Melbourne and Sydney, is planning to expand into Brisbane.
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By GlobalDataWrightson added that Sovereign Wealth will focus on developing long time relationships with advisers and providing professional advice.
Bennelong Wealth Partners CEO Will Davidson told Financial Standard: "We are excited to start our partnership with Sovereign Wealth Partners. They are the highest calibre of wealth advisers and we look forward to building many more teams like this one."
