Former CEO of JBWere, Paul Heath, and former CEO of MLC and NAB Wealth, Steve Tucker, have established a new private wealth management firm, Koda Capital, funded by Australia’s reputable private equity players and former wealth industry executives.

The independent fee-for-service financial advisory business which comes as a reaction against bank-owned "vertically integrated” businesses that sell in-house products will have its maiden office in Sydney.

Koda Capital will provide wealth management solution for high net worth individuals, families, and not for profit organizations with four main areas of activity including creation of investment strategies for clients’ needs and aspirations, financial planning, including advice on appropriate structures, providing advice for various generations of wealthy families; and advice within the philanthropic space.

Paul Heath, CEO of Koda Capital, said, "A major benefit for our clients is that Koda Capital is not aligned with or owned by a financial institution, as opposed to the vast majority of other wealth management firms in Australia. We will have access to the best investment solutions available without any of the structural conflicts of interest, which has caused many clients to question the impartiality of the advice they receive."

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