Commenting further on the announcement, Garry Crole said Bernie Fernandes is an excellent addition to the Sequoia team and is well known throughout financial services with an extensive and impressive background spanning over four decades in the industry across client management roles.

“Bernie’s knowledge, integrity, and passion to provide superior outcomes for his clients is a great match for Sequoia and he will definitely add to the culture and growth of the group in those states”, added Garry Crole.

Bernie will be based in Perth and be responsible for managing and growing Sequoia’s advice network in WA and SA by attracting and retaining advisory practitioners and developing growth opportunities for the business.

Prior to joining Sequoia, Bernie was state manager for Synchronised Business Services.

Bernie Fernandes said he is excited about the new role and is looking forward to building on Sequoia’s excellent reputation across these two large and diverse states – and for the opportunity to facilitate the provision of a diverse range of financial services to Western and Southern Australia.

Garry Crole concluded, “Sequoia is committed to expansion of services to advisers, AFSL holders and the accounting industry in this region and Bernie’s appointment reflects the group’s commitment to the WA and SA advice network, and providing professional and accessible value to the advice community”.

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Mr Trapnell is assisting with the roll-out and running of Sequoia’s adviser education programmes and managing the associated relationships with the group’s industry partners.

‘I had such positive dealings with Sequoia and its InterPrac Financial Planning business in my previous roles, that the decision to join them was an extremely easy one,’ Mr Trapnell said. ‘When they reached out to me, I was over the moon. It is a great cultural fit.’Mr Trapnell worked with Synchron for more than 10 years, 7 as Head of Adviser Support.

In welcoming him, Sequoia Managing Director, Garry Crole, said Mr Trapnell brings with him a wealth of experience and a deep understanding of advisers and the financial advice community

‘At Sequoia, we are focussed on being a ‘licensee of choice’, delivering premium services and facilities via industry professionals who are dedicated to helping advisers achieve their goals,’ he said.

‘Jonathan’s appointment will further help us deliver on those goals. He understands financial advisers, he knows our industry partners, he has excellent relationship skills, and he has great adviser education program management experience. We are very pleased to welcome him to the Sequoia fold.’

Mr Trapnell joined the financial services industry as a frontline call centre operator with ANZ in 2006 and was first appointed to Synchron to assist then director, Paul Riegelhuth.

His appointment follows the appointment of Maria Englezakis to the Sequoia compliance team.

Ms Englezakis was also formerly employed by Synchron and, following its acquisition, by Wealth Today.

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Established in 2014, PFAN is a trusted network of industry professionals who are focused on providing pro bono financial advice to those in need. Currently, PFAN works with the Multiple Sclerosis network throughout Australia, connecting individuals through referral partners to locally based advisers. Advisers registered with PFAN are given the opportunity to take on one pro bono client per year.

PFAN Chair Nicola Beswick said she is delighted that Zurich Assure, Inteprac and Sequoia have joined the PFAN network to help improve the financial wellbeing of people in need.

“Our mission is to help improve the financial wellbeing of Australian’s living with serious illness or disability, by providing pro bono financial advice, and to inspire others to do the same. Through our PFAN adviser network, we’re able to connect advisers with people who need financial advice assistance and are experiencing significant financial hardship because of a personal health crisis.

“Having the support from trusted brands like Zurich Assure, InterPrac and Sequoia enables us to service more clients and ultimately extend our services to others that need our assistance. We also hope to inspire the next generation of advisers and increase awareness of the value that we bring to others through our profession.”

As a market leader in helping advised clients to navigate the insurance claims process, Zurich Assure has offered its support and assistance to the PFAN community.

Head of Zurich Assure Sandhya Maini said: “Recent research conducted by Zurich shows that in the event of an illness or injury impacting their primary income, almost 40 per cent of individuals would only have sufficient financial resources for up to two weeks. In addition, one in three people indicated they had no financial backup plan in these circumstances.

“Seeking and obtaining the right advice at the right time can make a significant and positive difference. For this reason, and consistent with our values as an organisation, Zurich remains committed to helping those most in need.”

Through PFAN, InterPrac and Sequoia’s network of advisers can now register their interest in providing pro bono financial advice.

InterPrac CEO Garry Crole said: “InterPrac and Sequoia are pleased to support those who need advice the most, by participating in this program. In our opinion, the best investment any one can make, is to appoint a financial planner or wealth coach.”

Feedback from advisers who have signed up to the PFAN network have expressed the importance of giving back by offering their professional services in kind to those who need it the most.

Sovereign Advisors Managing Director Zaheer Lalani said: “As trusted professionals in the business of providing financial advice, it is not only suggested but incumbent on us all to share our time and knowledge with those who need us most.”

Border Financial Advice Managing Director Tom Border said: “I understand that financial literacy isn’t necessarily accessible to everyone – it can be costly and involve complicated concepts and legislation. I would like to use the knowledge I’ve gained over 25 years in the industry to help others.”

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iRate® is Lonsec’s award-winning investment research portal, providing financial professionals with access to their range of financial product research, ratings and analytical tools. iRate® is powered by one of Australia’s largest investment research and consulting teams and helps to deliver investment research needs in the one portal. In addition to providing managed fund and super fund research, iRate® also offers portfolio construction and comparison tools that can help advisers streamline their processes and meet their best interest duty and compliance obligations.

Garry Crole, InterPrac Financial Planning Managing Director, comments ‘In our evolving industry, one of our key priorities is working with a research house that has an extensive range of investment and advice solutions. Partnering with Lonsec will help broaden and strengthen the investment research capabilities for all our advisers.’

Lonsec CEO Michael Wright says, ‘In our increasingly compliant-heavy environment, it is more important than ever for licensees to provide efficient and reliable research tools to their advisers.’

‘Qualitative research is at the heart of what we do at Lonsec and we have built iRate® to support the research needs of all Australian advisers. We are delighted to come on board as InterPrac’s new research partner across their entire dealer group and in doing so, assist all of their advisers to have more informed and insightful conversations with their clients.’

In addition to iRate®, Lonsec also supports the evolving needs of licensees and advisers through its investment consulting, tailored portfolios, managed accounts and its dedicated transition consultants who assist practices across the country in transforming their businesses.

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While most attention has understandably been focussed on the wide ranging and enormously significant support packages announced by State and Federal Governments in recent weeks, there has been less focus on implementation, and particularly the assistance that consumers will need in light of the significant confusion surrounding how and who qualifies and whether it is appropriate to access the sweeping and urgent packages announced.

Sequoia is advocating for urgent action from Government to address the challenges consumers face in accessing affordable financial advice.

Garry Crole said, “Never have we seen so many once financially viable businesses close their doors, so many people lose their jobs or lose a substantial percentage of their income. While the government has announced some tremendous initiatives, which can assist many through this period, a lack of understanding on where to go or how to access these benefits compounds the stressful scenario faced by many.

Investors are also currently panicked by the fluctuations in the share market and are making decisions about their investments and insurances with no understanding of longer-term implications.

A good example is the early superannuation release package. Affected consumers need appropriate advice about the long-term consequences for their retirement and we have already seen ASIC raising concerns about unqualified people providing advice in this area.

Sequoia is calling for a Subsidy for consumers who are adversely affected by the crisis and do not have an existing financial planner. The proposed benefit would be limited to super fund members with account balances under $200,000 or those aged above 50 facing a significant change in circumstances. Unfortunately, because of the cost of financial advice, many ordinary Australians and Small Businesses feel they have no choice but to avoid or postpone accessing the services of a financial planner in what are often quite complicated personal situations.

Ideally all affected consumers would be able to access financial planning advice. The financial planner would coach consumers in the current volatile environment via personalised investment and insurance parameters suitable to their individual circumstances and guide them through the complicated decision-making process around the various support packages available.

Garry Crole concluded, “Never in our nation’s history has there been a situation where the need for professional financial advice is so crucial yet simultaneously inaccessible for some of the most vulnerable.

If the Federal Government and the planning industry could work together on this problem, I expect that planners would also commit to lower entry fees for financial advice so that all Australians could have the benefit of professional financial advice. I believe a subsidy, in the form of a rebate, would support Australians in need of advice and increase the effectiveness of the various support packages, which is for the benefit of all Australians.”

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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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“Under the arrangement that is currently subject to ASX and shareholder approval by both organisations, InterPrac will continue to be headquartered in Melbourne and operate under its own brand with the highly experienced team that has facilitated the organisation’s growth and business success.”

“What attracted us to this proposal was InterPrac’s ability to remain independent of institutional influence, whilst continuing to operate within a framework that delivers value for our Authorised Representatives and their clients”. Garry observed, “InterPrac’s financial planners will benefit from Sequoia’s strength and marketplace position, with access to their industry leading resources, services and offerings”.

Since commencing operations in 2001, InterPrac has been successfully assisting accountants and financial planners to deliver professional advice. The last 18 months in particular have been especially noteworthy for InterPrac, with the licensee’s adviser network now amongst the leading dealer groups in most industry rankings. The licensee’s adviser current strength comprises 215 financial planners operating from practices predominantly on the Australian east coast, generating over $3 billion in FUA and in excess of $17.5 million in insurance premiums.

“Since inception, our AFSL has focussed on continual improvement, increasing productivity and lifting InterPrac’s brand and reputation as an adviser focussed dealer group, committed to the long term financial success of its practices”, added Garry Crole. “Most importantly, under Sequoia our nonaligned framework facilitating financial solutions free of institutional influence will be maintained”.

Garry Crole concluded, “The acquisition by Sequoia represents a significant new chapter for InterPrac. Our organisations are culturally aligned and an excellent ‘business fit’, with a very clear focus on managed growth, increased productivity and delivering real value to advisers and their clients. We are most excited about the future and its potential!”

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Mary De Angelis

Melbourne based MD Financial Planning P/L principal Mary De Angelis and Sydney headquartered Capitaleyes Financial Planning P/L principal Charbel Fahd are not surprised InterPrac Financial Planning (InterPrac) will end 2016 with accolades for the highest level of adviser satisfaction and achievement of business and adviser growth milestones.

Recently, InterPrac took first place for the second consecutive year in the Investor Daily annual dealer group satisfaction survey and jumped from 38th position to 28th in this year’s Money Management’s Top 100 Dealer Group Survey.

“Winning the dealer group satisfaction survey for 2015 and 2016 has been especially pleasing as it is a reflection of InterPrac’s non-aligned and accountant centric model that regards the relationship with both our adviser network and the National Tax and Accountants’ Association (NTAA) as a professional collaborative partnership”, said InterPrac Managing Director Garry Crole.

“Most importantly, we manage growth very carefully and all new entrants must be a cultural fit within InterPrac”.

InterPrac National Practice Manager Michael Gershkov says advisers who make the switch to InterPrac regard flexibility and choice as the key prerequisites to delivering advice free of external influences.

“A flat operational structure that facilitates easy access to the executive team, together with an offering that can be personalised to the needs of each individual practice underpins our value proposition”, said Michael Gershkov.

MD Financial Planning has been growing steadily since Mary De Angelis started the business in 2012.  Mary then joined InterPrac and today the practice comprises of 4 advisers and 2 support staff specialising in aged care services.

“I am especially proud that MD Financial Planning’s growth has been organic and for the high level of service, care and attention we provide to clients”, said Mary De Angelis.  “InterPrac has certainly played a major role in supporting our endeavours as a business partner.

“Although very satisfied with MD Financial Planning’s success to date, there is still potential for further growth and I’m confident InterPrac will support these aspirations with services as the practice grows and evolves in response to the changing needs of clients”.

While a veteran in terms of his history as an accountant, financial planner and principal of Capitaleyes Financial Planning, Charbel Fahd is far from slowing down with work currently underway to enlarge the office to accommodate future growth and business expansion.

Primarily servicing the needs of SMEs and HNWIs, Charbel prides himself on client service that is personalised and professional as well as the longevity of relationships with clients.

“InterPrac is a very unique community of advice practitioners led by a team of industry professionals committed to sustainable long term growth”, said Charbel Fahd.  “Capitaleyes has benefitted immensely since joining InterPrac and the future can only realize further mutually beneficial outcomes”.

Although very satisfied with InterPrac’s numeric successes to date (200 advisers and top 20 dealer group nationally), Garry Crole acknowledges that the modern dealer group has to stay ahead of the curve by providing advisers with best practice options, high level of communication and service that supports their individual business needs – the days of one size fits all offerings are gone.

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Louise Biti

InterPrac Financial Planning’s (InterPrac) National PD Conference attracted nearly 200 practice managers, advisers and support staff to Melbourne for the dealer group’s annual event with the attendees overwhelmingly praising the high calibre speakers, informative main platform presentations and opportunity to network with fellow professionals during the two gathering held in Melbourne last week.

Focus on adviser support and assisting them to build robust professional compliant client centric businesses was the main theme of the National PD Conference.  The agenda was crafted to provide a diversity of concepts and ideas that attendees could personalise and implement within their respective practices with plenty of time provided for advisers to engage with other practitioners, speakers, industry representatives and InterPrac management and support staff.

Main platform speakers included Chris Caton from BT Funds Management, Tim Hewson ING Direct, Wes Gillett HUB24, Alicia Fauor OnePath, Roy Prasad Australian Unity, Christopher Joye Smarter Money, Louise Biti Aged Care Steps and Adrian Young BT Life.

InterPrac MD Garry Crole led the final session of the conference with Jeff Middleswart from Ranger International and Michael Glennon from Glennon Capital on current investment trends and strategies to assist clients to maximise diversified financial bases needed for retirement and beyond.

The InterPrac Adviser Panel on day 2 was particularly well received as advisers Mary De Angelis of MD Financial, Robert Veitch of SMSF Specialists and Phillip Scandizzo of Concepts & Results Financial Management provided insights into their respective practices.  This session highlighted the diversity of InterPrac advisers and how their very individual marketplace offerings are able to be accommodated and supported by the dealer group said Garry Crole.

Commenting on the success of the PD event, Garry Crole said the growing number of attendees reflected not only the quality of the program and presenters – but also the dealer group’s adviser expansion across Australia.

“InterPrac has enjoyed much success since it began operations in 2001 dedicated to assisting members of the National Tax and Accountants’ Association (NTAA) grow their businesses through the provision of compliant professional financial advice and related services.

Garry Crole pointed out that InterPrac is the only dealer group endorsed by the NTAA and recommended licensee for members offering direct to public financial planning advice.   Also, InterPrac’s broad APL and independence of institutions and product manufacturers are key considerations required by accountants as they enhance the provision of professional advice and services to their clients.

InterPrac currently has over 160 accountant advisers operating across Australia predominantly in the eastern states with growing interest being received from South Australia and Western Australia.  Historically growth has been a very steady increase of approximately 12 practices / advisers annually.

With the SMSF accountants’ exemption only a matter of months away, InterPrac has been receiving a greater number of enquiries over the same period last year from accountants seeking details of InterPrac’s marketplace offering and services.

“Although very pleased to be receiving so many enquiries, our growth has – and will continue to be managed carefully to ensure that new advisers are a cultural and business fit within the network and I expect our increase for 2016 will be slightly higher than the past annual average”, added Garry Crole.

Looking to the future, Garry Crole confirmed that the NTAA relationship and endorsement was a high priority and the InterPrac management team would continue to develop and deliver innovative and relevant service offerings and solutions for accountants expanding into the provision of financial advice.

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Investorfirst announces new agreement with InterPrac.

Leading investment and superannuation platform provider, Investorfirst Ltd (ASX: INQ), is pleased to announce it has signed a Platform Distribution Agreement with InterPrac Ltd (InterPrac).

The agreement will see the HUB24 platform delivered as a branded platform for use by accountants and practices that are members of the National Tax & Accountants Association (NTAA). Practices with their own AFSL as well as authorised representatives of InterPrac Financial Planning Pty Ltd will have access to the badged HUB24 platform.

InterPrac will also utilise HUB24’s market leading managed portfolio technology to create Separately Managed Account (SMA) investment options for the clients of accountants using the platform.

Commenting on the agreement, Mr Andrew Alcock, Chief Executive Officer of Investorfirst, said: “We are delighted to have been selected as the preferred platform partner of InterPrac and the NTAA. Their unique business model required us to think outside the square to develop a platform that caters for accountants and tax agents expanding their services to include financial planning. Our flexible technology allows us to provide a leading solution for InterPrac and NTAA members moving forward.”

There are almost 9,000 member accounting firms of the NTAA to which InterPrac, as a long term partner, provides a wide range of quality business solutions. These include Self Managed Superannuation Fund (SMSF) administration, finance broking, financial planning and services for the establishment of companies, trusts and SMSF funds.

As an AFSL holder and member of NTAA ADVICE, InterPrac Financial Planning has over 90 authorised representatives with over $1 billion in funds under advice.

In commenting on the agreement, Mr Garry Crole, Managing Director of InterPrac Financial Planning, said: “We selected the HUB24 platform after major consideration as to what was in the best interests of our clients. Issues that were key for us included independence, technology, fees, product flexibility, and the fact that the platform can accept non‐custodian assets for an SMSF without imposing additional cost to the client.”

The white labelled HUB24 platform, provided with NTAA endorsement, is an ideal solution for NTAA member practices. It has been specifically designed to attract and cater for SMSF clients, in addition to offering a retail superannuation wrap account.

A second NTAA ADVICE endorsed Australian Financial Services Licencee, SMSF Advisers Network Pty Limited, has also agreed to utilise the new service.

Mr Phil Osborne, CEO of SMSF Advisers Network Pty Ltd, said: “The Badged HUB24 platform is an ideal administration service for our advisers. It allows accountants and tax agents entering the financial planning arena to have a service that is not aligned to any product provider, but provides wholesale access to term deposits, over 900 managed  funds, direct shares, Exchange Traded Funds, and model portfolios from independent research houses.”

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