Sequoia announces acquisition of national licensee Libertas Financial Planning

From

Mark Euvrard

Sequoia Financial Group Ltd (Sequoia) CEO Garry Crole has announced the successful acquisition of Sydney headquartered national licensee Libertas Financial Planning Pty Ltd (Libertas).

Under the arrangement, Libertas will remain separate from InterPrac and continue to operate under its own AFSL, brand and identity.

Commenting further on the announcement, Garry Crole said Libertas is a successful and well-established financial advice dealer group that was founded by industry stalwart Mark Euvrard in 2012.

Today, Libertas has an extensive, Australia-wide network of approximately 70 authorised representatives, predominantly on the eastern seaboard.

“The acquisition provides Sequoia with further scale in the advice marketplace and based on the latest Money Management dealer group survey makes Sequoia the 3rd largest non-bank owned financial adviser group in the country”, said Garry Crole.

Libertas’ Managing Director Mark Euvrard said, “Our business was highly sought after and I wanted to ensure our advisers will be a part of a quality organisation. I am very pleased to be working with Garry Crole and the well-respected Sequoia team of industry professionals”.

“I’m confident the Libertas planners will benefit immensely from being part of a larger, well-regarded licensee focussed on the provision of highly compliant advice and client service”.

The financial adviser market is undergoing major changes in the wake of the Royal Commission and Sequoia is well placed to attract quality planning groups and advice practitioners.

Sequoia’s leading regulatory and compliance framework, technology and product access makes us a highly attractive partner affirmed Garry Crole.

The acquisition of Libertas will be Sequoia’s 8 th AFSL business that operate under their own identity and license within the Sequoia Group.

These include:

  • InterPrac Financial Planning Pty Ltd
  • InterPrac General Insurance Pty Ltd
  • Insurance Finance Services Pty Ltd
  • Libertas Financial Planning Pty Ltd
  • Morrison Securities Pty Ltd
  • My Own Super Fund Pty Ltd
  • Sequoia Asset Management Pty Ltd
  • Sequoia Wealth Management Pty Ltd

Each Sequoia owned licensee is a separate AFSL holder and supported by an extensive service offering and framework of compliance, education and support services.

In addition, Sequoia also assists financial advisers and practice owners to acquire and operate under their own AFSL.

Prior to the acquisition, Sequoia had been providing some of these services to Libertas over the last 5 months. Garry Crole concluded, “Libertas will provide Sequoia with additional scale in financial advice with immediate financial benefit to the Group and is highly EPS accretive”.

“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”.

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