Ex-Sagitta chief set to make return
Former Sagitta Wealth Management chief executive Peter Martin is set to return to the market later this year as head of a new start-up venture — Rismark International.
Martin, who will assume the chief executive title of the new firm, says the group is in the process of raising funds and will look to commence operation towards the end of the year.
“We’ve got so much to do, so we’re keeping quiet. We’re not out there aggressively promoting this venture, as it will be late this year before the company will be fully funded.
“It’s not like we’re sitting here with pots of money and about to kick something off. We’re in the process of raising funds for what will be a venture capital deal,” Martin says.
Despite this admission, however, Martin, who departed Sagitta shortly after its acquisition by Westpac Bank in 2002, is reluctant to reveal too much detail of the exact nature of the new business, but does say “it’s something quite different from the norm”.
Martin was one of a number of Sagitta executives to depart following its incorporation into the BT Financial Group in October 2002.
His former colleague and Sagitta chief investment officer Jonathan Pain also re-entered the industry when he was appointed in February by HFA Asset Management as a member of its investment strategy committee. Last week, he expanded this role to become chief investment strategist.
Recommended for you
The strategic partnership with Oaktree Capital and AZ NGA is likely to pave the way for overseas players looking to enter the Australian financial advice market, according to experts.
ASIC has cancelled a Sydney AFSL for failing to pay a $64,000 AFCA determination related to inappropriate advice, which then had to be paid by the CSLR.
Increasing revenue per client is a strategic priority for over half of financial advice businesses, a new report has found, with documented processes being a key way to achieving this.
The education provider has encouraged all financial advisers to avoid a “last-minute scramble” in meeting education requirements prior to the 31 December 2025 deadline.
