Linear maps preserving invariants

Let $G\subset\GL(V)$ be a complex reductive group. Let $G'$ denote $\{\phi\in\GL(V)\mid p\circ\phi=p\text{for all} p\in\C[V]^G\}$. We show that, in general, $G'=G$. In case $G$ is the adjoint group of a simple Lie algebra $\lieg$, we show that $G'$ is an order 2 extension of $G$. We also calculate $G'$ for all representations of $\SL_2$.