Sequoia Financial Group has expanded its suite of offerings with the acquisition of Topdocs Legal (TDL) for $330,000 and has renamed the business Docscentre Legal (DCL).
The listed financial services group stated DCL will retain all staff of TDL, relocate to the Sequoia Melbourne offices and be responsible for completion of all work in progress.
Sequoia managing director Garry Crole said the addition of the specialist legal service group focusing on SMSFs and business structuring and succession will enhance the group’s existing document businesses when reviewing and amending trust and SMSF documents.
“The current industry focus on needing to review outdated family trust and other trust structures was an area of strength for TDL and will continue for Docscentre Legal as we introduce this service offering to our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,” Crole noted.
“From our financial planners’ perspective this enhanced expertise on legal issues relating to SMSF compliance, increased capability in preparing deeds of ratification, rectification or confirmation to assist with certain compliance issues, advising on alternative SMSF investment structuring for property or other assets is a further move of the group to use scale to help drive down the cost of providing advice to a community who needs it.
According to Crole the addition of DCL would provide the group’s advisers with legal advice on SMSF estate planning issues and allow the launch of additional services in the areas of account-based pensions, child pensions, death benefit pensions, pension reversion amendments and pension commutations in line with changing regulations.
“While the acquisition will complement and significantly enhance Sequoia’s adviser networks, the additional offerings we will be able to launch for the existing documents and self-managed administration businesses are expected to see an earnings accretion immediately”.
TDL was previously part of documentation company Topdocs which was acquired by Class in August 2021 and under its new name will join the suite of services offered across the Sequoia Financial Group. These include SMSF establishment, administration, company and trust formation and registration, wealth management and advisory services, retail, wholesale and institutional trading platforms and market data and financial news services.