Sovereign Wealth Partners moves to full ownership of its business
We’re delighted to advise that Sovereign Wealth Partners and its associated Australian financial services licence holder is now fully owned and operated by its management team.
This is a significant milestone for our business and fortuitous, considering the significant negative sentiment towards the major banking and financial services institutions as a result of the Hayne Royal Commission.
There will be no changes to our service or business arrangements with clients as a result of this ownership change.
Background
Sovereign Wealth Partners started as a joint initiative of the Sovereign management team and the Melbourne based Bangarra/Bennelong Group, founded by Jeff Chapman. Sovereign Wealth Partners is now over three years old and along the way we’ve been very grateful to have had the backing and trust of the team at Bangarra/Bennelong Wealth Partners team through their incubator program. We’ve been proud to tell clients that the Bennelong Foundation was the ultimate beneficiary of Bennelong’s ownership stake in Sovereign and that we took an active role in its committee supporting NSW communities. We were particularly pleased to have introduced many of our clients to the charities and projects Bennelong have supported at the grass roots level. Now that we’ve taken the opportunity to move to 100% ownership of our firm, we look forward to continuing our friendship with the extended Bangarra Group at 20 Bond Street, Sydney.
Commenting on the share transaction, Jeff Chapman said that “The Directors of Bangarra Group, the ultimate holding company for our equity in Sovereign Wealth Partners [SWP] are delighted to support the sale of this equity to the management of SWP. We look forward to reading of their success in taking SWP forward. We are also pleased to note that the proceeds from the sale of this equity will ultimately flow through to the Bennelong Foundation whose aim is to serve the communities in which we live and work.”
In reaching this milestone we’re very grateful for all the incredible support and trust that our clients, business partners, supporters and families have given us along the way.
If you would like more information, please don’t hesitate to contact Jeffrey Wrightson, Chris Forrest, Steve Thaxter or Nina Kazmierczak.
Disclosure Statement: This communication has been approved and issued by Sovereign Wealth Partners Pty Ltd ABN 18 607 071 367 Corporate Authorised Representative (No. 001233909) of Sovereign Capital Pty Ltd ABN 44 164 127 833, AFSL 456235.
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