Sequoia appoints licensee, adviser services lead

Sequoia Financial Group has appointed Daryl Stout as head of licensee and adviser services, set to join the leadership team later this month.

Stout will report directly to chief executive Garry Crole and will be responsible for growth, operational excellence and adviser engagement.

Most recently, Stout was national business growth manager at AMP Advice where he rebuilt recruitment processes, launched adviser-facing digital assets and executed national roadshows to attract external advisers.

Prior to AMP, Stout held transition and growth roles with MLC Advice/Insignia Financial and MLC Partnerships, where he led the integration of more than 400 advisers during the NAB divestment.

"Daryl has a proven track record in adviser engagement, licensee operations, practice development, and M&A support," Sequoia said.

"His extensive industry knowledge and leadership experience will be instrumental in strengthening Sequoia's licensee services and supporting our national growth ambitions."

The new appointment comes after the Australian Wealth Advisors Group (AWAG) became a major shareholder in Sequoia in February.

AWAG, which is also ASX-listed, now has an 18.02% stake in Sequoia across more than 22.37 million securities.

AWAG took the stake after Unrandom director - and former Sequoia head of professional services - Brent Jones ceased to be a substantial shareholder on 30 October 2024 after an attempt to oust Crole.

The Takeovers Panel eventually slapped a series of orders on the rogue shareholders who attempted to overthrow the leadership.

The panel handed down several restrictions on the shareholders and their associated entities that at the time had substantial ownerships in Sequoia.