Sequoia Financial Group (Sequoia) has announced the acquisition of the incorporated legal practice previously known as Topdocs Legal (TDL), now renamed Docscentre Legal (DCL).
Boosting its professional services division, Sequoia has paid $330,000 for the business, funded from existing cash reserves.
For over a decade, TDL has been a national provider of specialised legal services, focusing on advice solutions for SMSFs, business structuring and succession.
Clients of TDL have traditionally been accounting, financial planning and other legal practices, as well as SME's and HNW clients who are seeking a high-quality legal service.
Sequoia said it plans to launch additional services to assist financial advisers, including in the areas of account-based pensions, child pensions, death benefit pensions, pension reversion amendments and pension commutation as ever-changing laws and legislation is implemented.
As noted in a recent ASX press release, enhancing the breadth of services to the advice community is consistent with Sequoia's mission of "providing multiple services to advice intermediaries and related professionals parties to assist in bringing down the cost of advice provision".
DCL will retain all existing TDL staff and will relocate the business to the SEQ Melbourne offices. All current work in progress will be completed under the DCL branding.
"This acquisition will enhance SEQ's existing document businesses which already establishes and manages large number of trust and SMSF documents," Sequoia managing director Garry Crole said.
"The current industry focus on reviewing outdated family trust and other structures was an area of strength for TDL, and this will be a specific area of focus for DCL as we introduce this service offering to our existing planning and accounting networks.
"From our advisers' perspective, this specialist expertise will significantly enhance the advice they can provide in relation to SMSF compliance, preparing deeds of ratification/rectification, estate planning and other death benefit issues."
He added that he believes it will reduce the cost of providing advice, benefiting consumers.