Warwick Traynor, Peter Hensley Launch Asteri Asset Management
11 Dec 2014
RUTH LIEW
The former boss of MLC Warwick Traynor and ex-JBWere chief executive Peter Hensley have teamed up to launch their own private wealth group, Asteri Asset Management.
The two wealth veterans have secured funding from private equity players, and Asteri is hoping to woo high net worth individuals, families and not-for-profit organisations to use its services.
The company will create investment strategies, provide financial planning and advice to clients in the philanthropic sector.
“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,” Mr Traynor, who left National Australia Bank last year following a management reshuffle, said.
“We believe the wealth advice firm of the future is independent.”
“Asteri Asset Management is not aligned with or owned by a financial institution, as opposed to the vast majority of other wealth management firms in Australia. We will have access to the best investment solutions available without any of the structural conflicts of interest which have caused many clients to question the impartiality of the advice they receive,” Mr Hensley added.
Mr Traynor and Mr Hensley will be joined by non-executive directors Anthony Rutherford, who founded Grant Samuel Private Equity, and Helen Grieve, who was formerly general counsel for JBWere and Goldman Sachs.
Read more at afr.com
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