The managing director and chief executive of Infocus Wealth Management is departing, with the company's founder returning to take the reins.
The Infocus board announced Rod Bristow is stepping down following six years of leadership. Succeeding Bristow in the role of managing director is InFocus' founder and executive director Darren Steinhardt.
Thanking Bristow for his contribution, Infocus chairman Roy McKelvie acknowledged the significant growth of the business during his tenure.
"During his tenure the company has expanded organically and through acquisition, growing on our national network of financial advisory practices providing financial advice solutions to clients all around Australia," McKelvie said.
"This has been a period of substantial change in the financial services industry and Rod has ensured that the company is well placed to capitalise on the opportunities these changes will represent. He leaves with our best wishes for the future."
Bristow said he is proud of his time as chief executive, explaining that he will be taking time out over the Christmas period.
"Not only has the company grown to become a stronger national organisation delivering wealth management solutions to Australians from all walks of life, but it is now seen as a leader in terms of compliance, use of technology, breadth of service and the efficiency of the delivery of financial advice solutions for clients...I wish the company well on its next stage of growth," he said.
Steinhardt said he is excited to back leading the company he founded with his wife in 1994.
"I'm looking forward to being back at the helm of this wonderful company and leading our team of great and capable people...These past few years have been a period of substantial change in the financial services industry and as a result of last week's announcement of the banking Royal Commission we anticipate change to continue," Steinhardt said.
While change can throw up challenges it also presents opportunities that Infocus is well placed to capitalise on, he added.
"We will focus on growth of our business via growth in each of our aligned financial advice practices, growth in our company-owned financial advice practices, and growth in each of our supporting companies."