Sequoia reaps benefits of advice integrations
Publicly-listed financial services group Sequoia Financial Group has reaped the dividends of recent acquisitions reporting today that it had improved its full year results by 293% to record a net profit after tax of $1.9 million.
The group, which integrated Libertas, Yellow Brick Road, Philip Capital Advisers and Total Cover Australia into its operations, heralded the fact that it had become Australia’s fourth largest non-aligned advisory platform with around 400 financial advisers.
Commenting on the result, Sequoia chief executive, Gary Crole said that the company had been able to grow its business in what was possibly the most difficult year in more than half a century.
“Our longer-term objective is to become Australia’s leading advice and financial licensee services group,” he said.
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