subscribe to our newsletter

Sequoia acquires client books through subsidiary

Sequoia acquires client books through subsidiary
Neil Griffiths
08 June 2021 — 1 minute read

Listed advice group Sequoia has announced the acquisition of additional customer books via its Interprac Securities subsidiary.

The additions – from FF Planning Solutions in Hobart and SFG Financial Services in Melbourne – are expected to add over $500,000 of annual recurring fee for service income.

It is also hoped that that the purchases will add $300,000 per annum of EBITDA per annum to the Interprac business and will be completed in this current financial year.


In a statement released on Tuesday, Sequoia said the acquisitions “continues the company’s strategy of providing retired advisers equity in the group and their customers the opportunity to remain clients of the SEO group, where they can continue to receive advice and support under our branding”.

The total consideration of the customer books is approximately $500,000 made up of $150,000 upfront cash, 220,000 Sequoia shares at an issue price of 50 cents per share and a final further payment of $100,000 cash and $100,000 in Sequoia shares.

This comes as Interprac which also provides SMSF outsourcing services had recently created a white-label legal document and ASIC compliance solution for online SMSF accounting and administration technology provider, Mclowd.

Sequoia acquires client books through subsidiary
financial advsier new smsf
smsfadviser logo

Become a pro at SMSF fundamentals and make your clients bulletproof with the SMSF Foundations course. Earn up to 21 CPD hours, and learn directly from Aaron Dunn from Smarter SMSF as he deep-dives into the fundamentals you need to know to successfully undertake your work as an SMSF practitioner. Learn more

join the discussion

Latest poll

Do you have clients that are aged 65 or 66 planning to trigger the bring forward rules?


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

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.