Sequoia explores more acquisitions amid strong results

Sequoia expects EBIDTA to be in the range of $8.5 to $9 million with revenue of $110 to $120 million off the back of a strong third quarter and a “strong start to April across the wealth, equity markets and professional services divisions.”

“The group strategy of providing multiple services to accountants, financial planners and third party AFSL holders continues to show strong growth, both organic and by acquisition, with very strong pipelines in place to support a continued growth momentum into FY22,” Sequoia said in an update.

Sequoia said that recent business and adviser acquisitions – including PantherCorp, PhillipCapital Advisers, and Total Cover – reported better than budgeted results. It also saw “continued strong growth” in Morrison Securities’ monthly trading volumes and stronger than expected brokerage and commissions from the financial planning and stockbroking businesses.

“The company is continuing to explore acquisition opportunities where they will add value to our core customers comprising accountants, financial planners and third party AFSL holders,” Sequoia said.