The board of Centrepoint Alliance (Centrepoint) has severed ties with the former group chief executive of its financial advisory business, Professional Investment Services (PIS).
In a statement to the market yesterday, Centrepoint said Bennett’s departure comes after the board elected not to renew his consultancy agreement.
“The board of Centrepoint Alliance Limited has elected to conclude its consultancy agreement with Professional Investment Holdings (PIH) Group founder, Robbie Bennetts,” the statement said.
“Since ending his full-time employment with PIH, Mr Bennetts had been employed by the CAF as a consultant for two days a week to support PIH Group conferences and develop new business opportunities.”
Centrepoint group chairman Rick Nelson said Bennetts has made a “significant contribution” to PIH, the parent company of PIS, over the past 15 years.
“I am sure many PIH people will continue to enjoy a strong personal relationship with Robbie and we wish him well in his future endeavours,” Nelson said.
News of Bennetts departure from the group comes a month after PIS group managing director Grahame Evans said the dealer group had cut close to 300 financial adviser and staff positions in the last 12 to 18 months.
At the time, Evans said the dealer group reduced headcounts of about “250 to 300” across its network, the majority of this figure made up of advisers.
Centrepoint purchased PIS in December last year.
