As Executive Chairman and acting CEO of Sequoia Financial Group Ltd (ASX:SEQ) (Sequoia or the Company), I present our 1HFY19 results.
Whilst much has been achieved in the first half of 2019 as we integrated two new major businesses into the Sequoia Group, this has unfortunately not been reflected in the bottom-line result for this period.
We made a significant investment in transforming Morrisons Securities Pty Ltd from a small B2C clearing and execution business into a position where it can now achieve scale within the B2B market. In our personal advice businesses, we made a significant investment in those aspects of our business that we believe will thrive post the Royal Commission into Financial Services.
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