InterPrac loses 7 more advisers

Mike Taylor

Managing Editor/Publisher, Financial Newswire

20 March 2026

Amid Sequoia Financial’s continuing review of its future, the company’s subsidiary financial planning licensee, InterPrac, has lost a further seven financial advisers, according to the latest analysis from Padua’s WealthData.

According to WealthData principal, Colin Williams two of the departed InterPrac advisers established their own licenses, one joined the Australian Mortgage and Financial Advisers and another joined Advocate Advisory.

He said three are yet to be appointed elsewhere.

The exists came as Sequoia told the Australian Securities Exchange it is considering a range of strategic options for InterPrac including sale of the business and facilitating the migration of advisers to other licensees.

Key Adviser Movements for the week

• 15,142 current advisers
• Net change of advisers +15
• 45 licensee owners had net gains of 57 advisers
• 24 licensee owners had net losses of (-42) advisers
• 6 new licensees (one recommencing) and 2 ceased
• 8 new entrants
• 100 advisers affected by appointments / resignations.

Other key dates affected by this week’s data

• Net Change Calendar 2026 YTD +80
• Net Change Financial YTD (2025/26) (-29)
• Net change last 12 months (-434).

Growth – Licensee Owners

• Entireti & Akumin Group up by four – One adviser switching from Inspired Financial Group. The other three all coming back after a break in advice ranging from four months to 11 years
• Arthur J Gallagher & Co (Gallagher Benefit Services Pty Ltd), also up by four, two switching from Godfrey Pembroke Group and two new entrants
• New licensee commenced (details given to members) with the three advisers switching from Financial Lifestyle Partners (North VIC)
• Four licensee owners up by two each:
  • SGN Financial, one switching from 2DM Capital and one from Alliance Wealth owned by Centrepoint Group
  • Perpetual Group, one switching from Shaw and Partners the other coming back into advice after exiting in September 2024
  • Canaccord Group, one coming back after leaving Macquarie Bank in December 2025 and one re-entering personal advice after leaving back in 2022
  • BSI Private, both advisers resigned from BSI Private late December 2025 and re-started this week
• A very long tail of 38 licensee owners up by one each including Infocus Group, Rhombus and Spark Partnership.

Losses – Licensee Owners

• Sequoia Group (InterPrac) down by seven – two commencing their own separate licensees. Three are yet to be appointed elsewhere. One joined Australian Mortgage and Financial Advisers and the other joining Advocate Advisory
• Count Limited down by four, with five ceased and none appointed elsewhere to date and appointing one adviser previously at Akambo Pty Ltd
• Three licensee owners down by three each:
  • Financial Lifestyle Partners – advisers started their own licensee mentioned above
  • GPT (Godfrey Pembroke), two joining Gallagher Benefits mentioned above and one switching to Integro Holdings (WA)
  • Shaw and Partners all three yet to be appointed elsewhere
• Three licensee owners down by two:
  • Axis Financial Group, both not appointed elsewhere
  • Beryllium Advisers, one switching to Achieving Your Dreams and one yet to be appointed elsewhere
  • Thi Quynh Trang Nguyen (Premium Advisory Pty Ltd), both not appointed elsewhere
• A tail of 16 licensee owners down by net one each including Industry Super Holdings, WT Financial Group and APT Wealth Holdings.