Stanford Brown chief executive to depart

The advice group announced Mr Hoyle would leave after 12 years with Stanford Brown and six years as chief executive.

"Jonathan’s leadership contribution to the firm has been significant, initially as an adviser, then director of private wealth and from 2015, as chief executive," Stanford Brown chairman David Brown said.

"In his time as CEO, Stanford Brown’s largest private wealth division has flourished as a leading professional provider of full-service financial advice."

Mr Hoyle said his time at the advice group had been a "privilege and career highlight".

"I have deeply valued our client relationships and am extremely proud of our achievements since I became chief executive," Mr Hoyle said.

"Stanford Brown’s strength lies in its unique culture and values, which have always set us apart."

Mr Hoyle will be replaced with the firm's current director of private wealth Vincent O'Neill, which Mr Brown said was part of a succession plan that had been in the works for some time.

"I can think of no better candidate to lead our next chapter of growth. Vincent is a proven and respected leader of our largest division," Mr Brown said.

"He embodies all the values of the firm and the attributes of a great adviser and leader of advisers."

Mr O'Neill has been with the firm for 13 years, starting as an adviser in 2007 and being elevated to the role of director of private wealth in 2014.