Australia has a new wealth management player, with the launch of the Sydney-based Yellow Brick Road. Founded by former UBS banker Mark Bouris, Yellow Brick Road will target the mass affluent as well as the rapidly growing number of high net worth Australians. Mr Bouris also founded home loan lender Wizard, which grew to become Australia’s sixth-largest home lender and sold out to US giant GE Money for A$500 million. “The two great dreams in life for all Australians is to own their own home and retire happy and comfortable,” said Mr Bouris. “When I made the Wizard Investment, it was focused on that first dream, and the Yellow Brick Road investment is designed to build an independent, quality financial advice business to help clients achieve that second dream.” Mr Bouris and his partner, Yellow Brick Road chief executive Bryan Davies were keen to highlight the new firms independence. “There is no financial institution that owns us or has an interest that influences us and that is key because we don¹t want anyone standing in our way,” said Mr Davies, another former UBS banker. GE is also reportedly planning to enter the Australian wealth management market, and some had expected the company to partner with Mr Bouris in that space following on the success of Wizard.