Sequoia Financial Group's (ASX:SEQ) unit, Sequoia Wealth Group, terminated the share sale agreement with Conquest Investment Partners on Friday, and the proposed disposal of InterPrac Financial Planning to Conquest Investment Partners will not proceed, according to a same-day Australian bourse filing.

Developments after the signing resulted in circumstances where completion cannot occur on terms consistent with those originally planned by the parties, per the filing.

Under the changed circumstances, the Sequoia determined that it is not in the best interests of shareholders to proceed.