Sequoia buys Libertas FP
Sequoia Financial Group has announced the acquisition of national licensee Libertas Financial Planning.
Under the terms of the agreement, Libertas would remain separate from InterPrac and would continue to operate under its own Australian Financial Services licence (AFSL), brand and identity.
Garry Cole, Sequoia’s chief executive, said that Libertas was a successful and well-established financial advice dealer group and has an extensive, Australia-wide network of approximately 70 authorised representatives.
“The acquisition provides Sequoia with further scale in the advice marketplace and based on the latest Money Management dealer group survey makes Sequoia the third largest non-bank owned financial adviser group in the country”, said Crole.
Libertas’ managing director, Mark Euvrard, said that its planners would benefit immensely from being part of a larger licensee focussed on the provision of highly complaint advice and client service.
The acquisition was Sequoia’s eighth AFSL business that operated under their own identity and license within the Sequoia Group.
These included:
- InterPrac Financial Planning
- Insurance Finance Services
- Morrison Securities
- Sequoia Asset Management
- InterPprac General Insurance
- Libertas Financial Planning
- My Own Super Fund
- Sequoia Wealth Management
“Libertas will provide Sequoia with additional scale in financial advice with immediate financial benefit to the Group and is highly EPS accretive,” Crole said.
“We are actively recruiting financial advisers where they fit with our culture and client service objectives and are delighted to be working with the Libertas team”.
AUTHOR
Oksana Patron
Recommended for you
A relevant provider has received a written direction from the Financial Services and Credit Panel after a superannuation rollover resulted in tax bill of over $200,000 for a client.
Estimates for the calendar year 2024 put the advice industry on track for a loss in adviser numbers as exits offset gains from new entrants.
Adviser Ratings shares five ways that financial advice changed in 2024 with an optimistic outlook for 2025, thanks to the Delivering Better Financial Outcomes legislation.
National advice firm Invest Blue has announced several acquisitions, including the purchase of an estate planning and wealth protection business Lambert Group.
