Four years after its acquisition by Sequoia Financial Planning, dealer group Libertas Financial Planning gets into the process of liquidation and deregistration.
In an ASX announcement, parent company Sequoia said it plans to consolidate AFS licences, with management making the decision to transfer Libertas’ operations and customers to InterPrac Financial Planning and Sequoia Wealth Management.
This move aims “to achieve operational and cost synergies”, the firm said.
The decision had been confirmed in a general meeting of the members of the company on 26 May 2023, where it was resolved that the company be wound up and a liquidator be appointed.
Sequoia acquired Libertas in August 2019. Under the terms of the agreement,…