Jeffrey Wrightson, Stephen Thaxter, Chris Forrest and Nina Kazmierczak have set up Sovereign Wealth Partners, their own non-aligned boutique advice firm.
The new firm is also backed by Bennelong Wealth Partners, the wealth management arm of Bangarra Group, which also owns Bennelong Funds Management.
Bennelong Wealth Partners is an incubator of advice businesses that works with senior high net worth advisers who break away from large institutions and set up their own firms.
The new business has started with teams in Melbourne and Sydney and is looking into expanding to Brisbane.
The four experienced executives and financial planners were previously with Macquarie Private Wealth, (MPW). After an enforceable undertaking by the Australian Securities and Investments Commission (ASIC) on MPW, a number of advisers and executives from Macquarie's wealth management division have left the group to join non-aligned financial planning firms or establish their own practice.
