Advisers head to new rival business

SIX Macquarie Financial Services advisers are believed to have quit the firm’s Perth office to join ex-Sealcorp chief Jan Kolbusz in a new city wealth management business. It is understood three wealth management advisers and three brokers will be heading to the neighbouring Colonial building to join former colleague Jamie Mann at the recently established offices of Stripe Capital Pty Ltd. Mr Mann, who started in broking in the early 1990s at Porter Western, quit the Sydney office of Macquarie last month. The three wealth management advisers are Michael Bowden, Todd King and Steve Wood. The three brokers, all former partners of Porter Western before it was bought by Macquarie, are Phil Grant, Tim Weir and Tony Kenny. It is understood the six have negotiated an amicable workout with Macquarie. It is believed Stripe has received a licence and it will be about a month before it plans to start trading, offering a wealth management service for high net worth clients with broking capacity. At a later stage it plans to get involved in corporate raisings below the $50 million mark, below the minimum that Macquarie typically advises on. Mr Kolbusz will be the executive chairman of the new operation.

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