Mr Baker will continue to be involved as a non-executive director of NMG Consulting, which acquired Tria Investment Partners two years ago, and will support the business and its staff.

He said Tria was not based around any one person, including himself.

“Although this transition is an important milestone, it’s really just another logical step in Tria’s progression and our aspiration to build the best consulting firm in the wealth, asset management and insurance industries,” said Mr Baker.

Tria Investment Partners said Mr Hesketh has been with the business since 2007 and in the past 18 months has taken on an increasing role in running Tria.

NMG Consulting chief executive Mark Prichard said the transition to Mr Hesketh will be seamless.

Mr Hesketh will be supported by Mark Watmore, a partner in the business who leads the implementation focus team.

Mr Watmore’s role has been expanded to include responsibility across NMG Consulting's business lines in Australia, particularly identifying and executing opportunities for cross-collaboration between the NMG Consulting divisions.

Tria also announced principal consultant Chris Hurst will move to the London office of NMG Consulting in early March.