Wealth Enhancers' former CEO responds to restructure

Speaking to ifa, Mr Kelly said he will remain involved in Wealth Enhancers (WE) as chief investment officer. He said the intent was always for Ms Riegelhuth to run WE as soon as she felt comfortable.

"Nothing makes me happier seeing Sarah back running the company and thriving. She is an amazing leader, has such a wealth of experience in the advice industry and is the best person to achieve the big vision that WE have," Mr Kelly said.

"I hope her courage inspires more females to step up and become leaders as the world will be a better place if they do."

Mr Kelly added he will focus a majority of his time on his role as chief executive of We Love Numbers, a company based in Australia and the US which is dedicated to supporting entrepreneurs.

Yesterday, Ms Riegelhuth announced that during the first four weeks of 2016, WE tripled the number of new members compared to the previous six-month period. The company has also received positive feedback from clients.

"Our coaching feedback ratings are at mostly 10/10, with just a few 8s and 9s, and the number of referrals from existing members has increased by 22 per cent," she said.

"I'm incredibly positive about the future of WE, and for the future of each and every person in our community."