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Sequoia Financial Group - Acquisition of Clique Paraplanning

Sequoia Financial Group Ltd (ASX: SEQ) (Sequoia) is pleased to announce it has acquired the business assets of Clique Paraplanning in cash on an earn out of revenue multiple of approximately 1 times. The purchase consideration consists of a combination of cash $150,000 and shares valued at $60,000. The earn out and final payment (up to $70,000) is payable in 12 months post completion.

Clique Paraplanning is a national paraplanning service with employees and contractors primarily domiciled in Melbourne and Sydney. The business provides outsourced local paraplanning services to a broad group of financial planners, AFSL’s and other intermediaries who are looking to outsource some of their services, particularly the creation of Statements of Advice documents, and the ongoing review of their documentation.

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