More than 10 executive and support staff have either left or resigned from dealer group Centric Wealth.
Company non-executive chairman David Shein confirmed seven employees out of a list of 14 possible names as those who had left the company in recent months.
The names, contained in an anonymous letter sent to InvestorDaily, included Centric senior risk manager Brian Zanker, implementation manager Chris Cutter, mergers and acquisitions manager John Hart, marketing manager Jon Slack and client experience and HR manager Judith Fiander.
Those who had resigned from the company included head of investments Peter Dobriveck and director of portfolio construction Ashley Owen, the letter said.
While confirming Owen's resignation, Shein said he remained a contractor with Centric.
In response to the letter claiming 10 support staff had also left the group, Shein said that number appeared quite high.
"It sounds a lot. I can't think of 10 support staff leaving to be honest," he said.
He said the possible reason behind the departures was linked to former company chief John McMurdo.
When a chief executive moved on, in some instances so too did a number of staff, he said.
"In terms of how the company is tracking, we had an excellent first quarter," he said.
"I think that as we said when the changes were made that it was business as usual."
When asked whether the changes had led to the departure of any clients, he said it had.
"Yes, but no different to anyone else in the industry and no different to what it was 12 months ago," he said.
"We think our planners have done a phenomenal job. If we have lost business it would be industry related, not Centric related. Not one of our key advisers has left."
He said as well as the departures, Centric had made a number of hires, believed to be around seven.
Centric remained on track to select its new chief executive in the new year, he said.
In July, McMurdo quit the company suddenly. He was joined by Centric chief financial officer Geoff Scott and company chairman Phil Kelly.
