Former Koda advisers start own firm
Two former Koda Capital financial advisers have left the company to start their own advice firm, as they set out to provide an “unconstrained” holistic offering.
Speaking to ifa, Eli May said he and Brian Francis left Koda Capital in October after less than one year to launch Yarra Wealth, which is licensed by MWH Capital.
Prior to Koda, the pair had worked together as a team at Macquarie Bank.
Mr May said the decision to start a boutique firm came in an effort to provide the best services to their 40 clients.
“We've spent many years in the big firms. We went out on our own because of our clients,” he said.
“We're indebted to our clients for their loyal support and it's up to us now to perform at a level that they are happy with.”
Mr May said the goal of Yarra Wealth is to offer a personalised and unconstrained holistic wealth offering, which is often difficult to do outside of the boutique sector.
“We have no obligation to push any product. Therefore, we literally go to market. We've got great relationships with different organisations with different opportunities," he said.
“It's all about the opportunities that you are not always going to be put in front of when you're at big organisations.”
As for the future, Mr May said he hopes to double his firm’s revenue in three years by doing more for his existing clients and attracting additional high-net-worth clientele. The pair also plans to obtain their own AFSL by early next year.
Mr May added he expects more insto-aligned advisers to follow in his footsteps.
“There is no doubt, in my opinion, that more advisers will set up their own firms. Clientele are demanding a more sophisticated offering,” he said.
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