Sequoia moves to divest InterPrac financial planning arm
Sequoia Financial Group (ASX: SEQ) has appointed an independent advisor to run a sale process for the shareholding held by its wholly owned subsidiary in InterPrac Financial Planning Pty Ltd (InterPrac). The move, disclosed on 26 August 2026, marks an early stage in a potential divestment of the financial planning business.
The shares are held by Sequoia Wealth Group Pty Ltd (SWG), a wholly owned subsidiary of Sequoia. The company has confirmed the process is at an early stage.
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What Sequoia has announced
The appointment of an independent advisor represents the opening step in a potential sale. It is an intended sale rather than a completed or agreed transaction. No buyer, price, or timeline has been disclosed.
Sequoia has stated it will continue to keep the market informed of events concerning the sale process in accordance with its continuous disclosure obligations.
Key facts from the announcement:
- Entity being sold: SWG’s shareholding in InterPrac
- Stage: Early stage, sale process initiated
- Advisor: Independent advisor appointed (unnamed in the announcement)
- Buyer / price / timeline: Not disclosed
For investors, the appointment signals a potential portfolio streamlining decision. With terms unknown at this stage, shareholders should watch for further disclosures before drawing conclusions on value or impact.
The InterPrac divestment terms that ultimately emerged from this process included a $50,000 sale price to Conquest Investment Partners, structured to remove up to $7.5 million in potential write-downs and separate Sequoia from unquantifiable contingent liabilities tied to the Shield and First Guardian Master Fund collapses.
The deed of cross guarantee and what it means
A central element of the announcement concerns a deed of cross guarantee. A deed of cross guarantee concerning InterPrac was lodged with ASIC on 2 June 2022.
In Sequoia’s case, the deed was lodged with ASIC on 2 June 2022.
If the sale process is successful, Sequoia intends to take steps to revoke the operation of the deed insofar as it concerns InterPrac. The company considers that such a revocation “would be in the interests of its shareholders” and intends to “work cooperatively with ASIC and stakeholders in relation to InterPrac’s ongoing business and potential liabilities.”
Revoking the deed as it concerns InterPrac would help separate InterPrac’s ongoing business and potential liabilities from the broader Sequoia group.
ASIC court proceedings over the cross deed later became a complicating factor in the sale process, with ASIC seeking to appoint a receiver specifically over InterPrac’s guarantees in the deed rather than over its broader operational assets.
About Sequoia Financial Group
ASX-listed Sequoia provides services to retail and wholesale clients of financial planners, brokers, accounting firms, and legal practitioners. InterPrac sits within a group that operates across multiple financial services segments.
Sequoia’s business divisions include:
- Financial services licensing via three separate AFSLs
- Salaried advice
- Corporate advisory and capital markets expertise
- Establishment of legal structures and documents
- Media
- SMSF administration
A successful sale of the InterPrac shareholding would refocus the portfolio across these remaining segments.
What comes next for investors
The process remains early-stage with no guaranteed outcome. Sequoia has committed to ongoing market updates under its continuous disclosure obligations.
Key items for shareholders to monitor:
- Appointment of a buyer or progress on the sale process
- Any disclosed sale terms or valuation
- Steps to revoke the deed of cross guarantee as it concerns InterPrac
- Cooperation outcomes with ASIC and stakeholders
| Item | Detail | Disclosed? | What to watch |
|---|---|---|---|
| Entity being sold | SWG’s shareholding in InterPrac | Yes | Progress of sale process |
| Buyer | Not named | No | Buyer appointment |
| Sale price / valuation | Not stated | No | Disclosed terms |
| Deed of cross guarantee | Lodged with ASIC on 2 June 2022 | Yes | Steps to revoke re InterPrac |
With limited detail available at this stage, the announcement marks the beginning of a potential divestment rather than a confirmed transaction. Further disclosures will determine the terms and any financial impact for the broader Sequoia group.
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