Sanders marks his return to financial services
The former chief executive ofWealthpointBrett Sanders has announced his return to the financial services industry, heading up boutique asset consultant Grove Financial Services.
Sanders left Wealthpoint in August last year after 14 years withSealcorpwhen St George rolled Wealthpoint into AdviserNet, ending a rationalisation process which included the elimination of duplicated services within Wealthpoint, and the sale of Hot Copper, Bourse Data and Faulkner Stockbroking. The Wealthpoint business was then sold to Sydney group Midstreet in October of last year.
Sanders says since he left Wealthpoint he took an extended break from work and then was engaged in consulting work from the start of this year until the beginning of last week when he took on the role at Grove.
According to Sanders the business, which is majority owned by boutique investment bank Carnegie Wylie, focuses on the provision of asset consulting services and implementation through the group’s wrap account to wholesale clients.
“We deal mainly with superannuation funds, local government and some private clients seeking specialist investments in the area of cash and fixed interest,” Sanders says.
Despite a background in retail financial services Sanders, whose brief is to grow the existing business, says Grove will remain committed to wholesale and the provision of advice and implementation of discretionary investments via the wrap.
“The main focus has always been wholesale and while we may look at other opportunities, we will consider wholesale moves first and foremost,” he says.
AUTHOR
Jason Spits
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