Mr Pennells co-founded Choice Home Loans and Choice Aggregation Services with Ross Begley in 1997.
The company was sold in 2007 for $163 million to Challenger Financial Services Group and later on sold to NAB.
Mr Pennells has been part of Wealth Today since the company’s inception in 2008.
“With Greg now adopting a hands-on role in the operations of the company, we are very fortunate to be able to leverage directly off his extensive experience and terrific success in the financial services industry,” Wealth Today head of new business and member resources Julian Musgrave said.
Mr Pennells said it is an exciting time to be taking the reins.
“We have a fantastic new planning integration model that’s proving so simple and rewarding for mortgage brokers and accountants,” he said.
“Opportunities have been created for existing planners to team up with our members as well.”