Former NAB Wealth executives Steve Tucker and Paul Heath have launched Koda Capital, an investment and financial advice company they say will offer commission-free independent advice. The firm's target client base will be high net worth individual, families and charitable foundations.
Heath, a former chief executive officer of JBWere, will become Koda's CEO, while Tucker will be non-executive chairman.
The other partners in the business are trusted lieutenants from NAB's wealth business. Koda's new chief of staff, Quentin Reeve, held roles as the executive manager to the CEO at both JBWere and MLC and NAB Wealth; chief operating officer Andrew Rutherford was managing director and COO of JBWere until 2012 and was later EGM for NAB's wealth business operations.
A statement on the Koda Capital website explains the firm's core strategies in this way:
"Providing the best possible wealth management services is the sole focus of our highly-experienced professional advisers. This is our core offering, and no other business interests or alignments impact our ability to provide objective and well-informed financial guidance.
"Our holistic wealth management services fall into four categories: Financial Strategy; Investment Strategy; Philanthropic Services; and Intergenerational Wealth."