subscribe to our newsletter
MDS set to acquire Sequoia

MDS set to acquire Sequoia

03 July 2014

MDS Financial Group has entered into an agreement to acquire Sequoia Financial Group, which offers services to SMSF trustees and their advisers.

In an ASX announcement, MDS Financial Group said it has signed a non-binding term sheet to acquire 100 per cent of Sequoia Financial Group.

MDS will acquire 100 per cent of the equity in Sequoia from Sequioa’s existing owners, according to the statement.

Sequoia has three operating businesses, including Sequoia Superannuation, which provides SMSF administration services.

“Currently this service division provides administration services to more than 700 SMSFs and has experienced rapid growth,” the statement said.

The parties intend to execute a share sale and purchase agreement “as soon as reasonably practicable”, MDS stated.

MDS set to acquire Sequoia
smsfadviser logo
join the discussion

What do you plan to do in response to the new adviser education standards?


Get the latest news and opinions delivered to your inbox each morning

In this month's issue:

  • Time wrap
  • The tech bull run
  • From hobby to passion
  • Golden Years
  • An untimely reminder
  • Why change is so difficult
  • Key Strategies for equalising super