Koda Capital Opens Its Doors
10 Dec 2014
CAROLYN CUMMINS
As we considered the landscape of wealth advice, we saw a gap – that of an independent, high quality firm, staffed by experienced professionals that serve clients in a manner completely free of the conflicts of interest which exist in many firms.
Finance industry veterans Steve Tucker and Paul Heath have launched their new private wealth management firm, Koda Capital.
The former chief executive of broking and advisory business, Mr Heath, and former chief executive of MLC and NAB Wealth, Mr Tucker, will use their combined knowledge to invest on behalf of high net worth individuals, private equity players and former wealth industry executives.
It comes in light of the recommendations in the recent Murray report, which said the financial advice industry needed a significant review.
Mr Tucker, who will be Koda’s chairman, said the challenges facing the private wealth profession have been well documented.
“The profession can’t rely on regulation to rebuild trust; the market itself needs to take responsibility for this,” he said.
“As we considered the landscape of wealth advice, we saw a gap – that of an independent, high quality firm, staffed by experienced professionals that serve clients in a manner completely free of the conflicts of interest which exist in many firms.
“We believe the wealth advice firm of the future is independent.”
The group will focus on four areas of activity being financial planning, including advice on appropriate structures; providing advice for various generations of wealthy families; and advice within the philanthropic space.
Mr Heath, who will have the chief executive role, said the fees will be “transparent” and no commissions will be charged from putting clients into products that may not suit them.
“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, ” he said.
Read more at smh.com.au
Latest news
10 Koda Advisers in Australia’s 2023 Top 100
21 Sep 2023
Today US financial investment publication Barron’s, in partnership with The Australian’s business magazine The Deal, released their rankings of Australia’s Top 100 Financial Advisers. The rankings are based on a comprehensive national survey. This list offers clients and advisers a unique guide to the leading practitioners in the sector. The formula used to calculate the...
2023 Top 100 Financial Advisers: Frank Macindoe, Koda Capital
21 Sep 2023
For Frank Macindoe, the challenge in long-term investing is to ignore the noise and determine the underlying trends. The adviser and partner at Koda Capital in Sydney takes a considered, multiyear investment approach that aims to minimise volatility while achieving superior returns. “I try not to be distracted by the short term, ” he says....
Subscribe to Koda insights
*Please note that the majority of research Koda produces and distributes is client-access only. Subscribing to the insights distribution list will only give you access to publicly available Koda reports.