Sequoia Financial Group Limited (ASX: SEQ) (Company or Sequoia) is pleased to announce that InterPrac Financial Planning Pty Ltd (InterPrac), a wholly owned subsidiary of Sequoia, today signed a Sale Agreement and Cross Referral Agreement to provide wealth management solutions to the Yellow Brick Road group (YBR). This transaction will simultaneously enhance Sequoia’s wealth management business and YBR’s mortgage distribution business. InterPrac is purchasing YBR’s share of the rights to the recurring revenue streams currently derived from its wealth advice and life insurance distribution businesses. Following due diligence by a specialist third party compliance consultancy business, InterPrac has selected 56 existing YBR wealth advisers to operate under the AFSL of InterPrac after completing an onboarding process.
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