Professional Investment Services (PIS) founder Robbie Bennetts has been dropped from his consultancy agreement with Centrepoint Alliance.

The board said in a statement it “has elected to conclude its consultancy agreement” with Mr Bennetts.

He founded PIS in August 1996 and grew the dealer group into one of Australia’s largest.

Since the takeover of PIS last year, Mr Bennetts had been working two days a week on the dealer group’s conferences and developing new business opportunities.

Centrepoint Chairman Rick Nelson says Mr Bennetts had made a “significant contribution to PIS during the past 15 years”.

“I am sure many PIS people will continue to enjoy a strong personal relationship with Mr Bennetts and we wish him well in his future endeavours,” Mr Nelson said.