Sequoia Financial Group Sold InterPrac to Bellbird
Sequoia Financial Group has finalised the sale of its InterPrac Financial Planning business for $200,000.
Updated on Oct. 14, 2026 in Investing
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Sequoia Financial Group announced the sale of InterPrac Financial Planning to Bellbird Australia for $200,000. The transaction involves the revocation of a deed of cross guarantee signed in 2022.
Why it matters
This divestment follows previous regulatory scrutiny from ASIC, which intervened in a failed attempt earlier this year to sell the business to Conquest Investment Partners. The transaction marks the conclusion of Sequoia's efforts to offload the entity following legal proceedings that were discontinued by the Federal Court in July.
Sequoia Financial Group sold InterPrac Financial Planning for $200,000, representing a significant increase over the $50,000 valuation from a failed attempt in March.
The players
Sequoia Financial Group
An Australian financial services company that operates across various sectors including advice, licensing, and professional services.
Bellbird Australia
The corporate entity purchasing InterPrac Financial Planning.
ASIC
The Australian Securities and Investments Commission is the government body that acts as Australia's corporate regulator.
Scott Beeton
A former managing director of Sequoia Financial Group who is reportedly linked to the acquisition by Bellbird Australia.
InterPrac Financial Planning
A financial planning firm previously held by Sequoia Financial Group.
The details
The sale includes the formal rescission of the deed of cross guarantee that Sequoia established in June 2022. Scott Beeton, a former managing director of Sequoia, is reportedly the party behind the buyer, Bellbird Australia.
Timeline
4 February 2019: Scott Beeton ended his role as managing director of Sequoia.
2 June 2022: The original deed of cross guarantee was signed.
March 2026: ASIC intervened in the first attempt to sell InterPrac.
July 2026: The Federal Court granted leave to discontinue proceedings against Sequoia.
13 October 2026: Sequoia announced the sale of InterPrac to Bellbird.
Market Dynamics
This transaction reflects broader consolidation and divestment trends within the Australian financial advice sector, occurring under the regulatory framework of the Corporations Act 2001. It highlights how firms must navigate ongoing scrutiny from ASIC when restructuring portfolios and offloading non-core assets.
Retail investors holding shares in Sequoia Financial Group should monitor how the $200,000 proceeds are allocated to balance sheets. The shift in ownership may also impact existing client service agreements for those currently managed under the InterPrac brand.
The takeaway
The successful sale of InterPrac concludes a period of regulatory uncertainty for Sequoia Financial Group. Investors should focus on how the company refines its remaining operations after shedding this subsidiary.
Further reading
For more information on market trends, visit our Investing section.
Source note: This article includes information reported by Financial Standard.
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