HUB24 Halts New Business from Sequoia’s InterPrac Advisers by March End

Platform Provider HUB24 Pulls Back on New InterPrac Business

Sequoia Financial Group Ltd has announced a significant development affecting its InterPrac Financial Planning arm. HUB24, a major platform provider, has informed Sequoia that it will cease accepting new business from advisers operating under InterPrac’s Australian Financial Services Licence (AFSL) from 31 March 2026. This move restricts new client onboarding through HUB24 for InterPrac advisers, marking a notable operational shift.

Impact Limited to New Business Only

Importantly, HUB24’s decision does not affect existing client accounts or current adviser remuneration arrangements. This means that ongoing business and revenue streams tied to existing clients on the HUB24 platform remain intact, providing some stability amid the change. Sequoia has reassured stakeholders that current operations will continue without disruption.

Sequoia’s Strategic Response and Future Outlook

In response, Sequoia is actively engaging with stakeholders to manage the transition smoothly. The company is supporting affected advisers in identifying and moving to alternative platform providers where appropriate. This proactive approach aims to minimise disruption for advisers and clients alike as the company navigates this platform shift.

Meanwhile, Sequoia continues to progress discussions regarding the broader future of the InterPrac Financial Planning business. These talks remain ongoing and constructive, suggesting that the company is exploring strategic options to adapt or restructure this segment of its operations. Investors and market watchers will be keenly awaiting the promised update scheduled for 20 March 2026.

Broader Implications for Sequoia and the Financial Planning Sector

This development highlights the challenges financial planning groups face in maintaining platform partnerships critical to their business models. HUB24’s decision to restrict new business from InterPrac advisers may reflect broader industry dynamics, including compliance considerations or strategic realignments by platform providers. For Sequoia, the move underscores the importance of diversification and flexibility in platform arrangements to safeguard adviser networks and client acquisition capabilities.

As the situation unfolds, Sequoia’s ability to manage this transition effectively and clarify InterPrac’s future will be key to maintaining confidence among advisers, clients, and investors.