Sequoia Financial Group has acquired a national dealer group, home to 60 financial advisers.
Sequoia acquired Sydney-based Libertas Financial Planning, a national licensee with 60 active advisers on its books as at July end.
Under the arrangement, Libertas will remain separate to InterPrac and continue to operate under its own AFSL, brand and identity. It marks the eighth separate AFSL operating within Sequoia.
Libertas was founded by managing director Mark Euvrard in 2012.
Sequoia chief executive Garry Crole said the acquisition will provide Sequoia with further scale in the advice marketplace.
Commenting on the sale, Euvrard said: "Our business was highly sought after and I wanted to ensure our advisers will be a part of a quality organisation. I am very pleased to be working with Garry Crole and the well-respected Sequoia team of industry professionals."
"I'm confident the Libertas planners will benefit immensely from being part of a larger, well-regarded licensee focused on the provision of highly compliant advice and client service."
The financial advice landscape is undergoing major changes at the moment and Sequoia is well placed to attract quality planning groups and advice practitioners.
"We are actively recruiting financial advisers where they fit with our culture and client service objectives and are delighted to be working with the Libertas team," he said.