Listed advice group Sequoia has acquired the legal practice Topdocs Legal.
Sequoia Financial Group has announced it has completed the acquisition of the incorporated legal practice formerly known as Topdocs Legal (TDL) for $330,000.
The firm was established in 2010 and provides specialised legal services with a focus on advice solutions in the law areas of SMSF business structuring and succession.
Under the acquisition, Topdocs Legal will be renamed Docscentre Legal (DCL) and all staff will be retained and relocated to Sequoia’s office in Melbourne.
“This acquisition will enhance the existing document businesses of Sequoia when reviewing and amending Trust and SMSF documents,” said Sequoia managing director Garry Crole.
“The current industry focus, on needing to review outdated family trust and other trust structures was an area of strength for TDL and will continue for Docscentre Legal as we introduce this service offering to our planning and accounting networks across Australia.”
Sequoia said that TDL’s client base of accounting, financial planning and legal practices along with small-to-medium enterprises and high-net-worth individuals aligned with its mission to provide multiple services to advice intermediaries and these professional parties.
“Sequoia is focussed on providing multiple services to the advice community utilising scale to drive down the cost of providing advice. The acquisition of TDL and enhancement of an existing service in that regard is further confirmation to that much needed mission,” said Mr Crole.
Mr Crole noted that the DCL team would also be able to assist Sequoia’s advice community with legal advice on estate planning for SMSFs including binding death benefit nominations, powers of attorney, member benefit guardians and the structuring of death benefit payments.
“Further, we have noted that far too many trusts, SMSF deeds and company constitutions used for holding investments are not up to date and the cost of ensuring they have been is an increasing burden in keeping the cost of advice down,” Mr Crole added.
Jon Bragg is a journalist for Momentum Media's Investor Daily, nestegg and ifa. He enjoys writing about a wide variety of financial topics and issues and exploring the many implications they have on all aspects of life.
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