Sequoia terminates InterPrac sale

Mike Taylor

Managing Editor and Publisher

1 May 2026

Sequoia Financial Group has confirmed that it has called off the sale of its financial planning business, InterPrac.

The company has announced to the Australian Securities Exchange (ASX) that it has terminated the Share Sale Agreement with Conqeust Investment Partners. The move appears related to legal action initiated by the Australian Securities and Investments Commission (ASIC) related to the sale.

It said the termination follows the inability of the parties to satisfy all conditions and requirements necessary to achieve completion of the transaction within the required timeframe.

It said that, in particular, developments subsequent to signing have resulted in circumstances where completion cannot occur on terms consistent with those originally contemplated by the parties.

“Having regard to the expected cost, complexity and uncertainty associated with progressing the transaction under these revised circumstances, the Company determined that is not in the best interests of shareholders to proceed,” the announcement said.

It said the company would continue to assess strategic options for InterPrac and will update the market with its continuous disclosure obligations.