Yellow Brick Road has sold the last part of its wealth business and is now operating as a specialist mortgage business.The company announced late in December that it had entered into a sale agreement with Sequoia Financial Group in relation to YBR Wealth. YBR's wealth advisers will become licensed advisers of InterPrac Financial Planning, a subsidiary of Sequoia Group.The deal is worth A$2.5 million if all YBR advisers transfer on completion. YBR's superannuation book is included in the transaction.Sequoia will act as the preferred referral partner of wealth advice and services for YBR's 1200 mortgage brokers, and YBR will be the preferred referral partner of mortgage origination services to the Sequoia Group.The sale to Sequoia follows the sale of YBR's 50 per cent interest of Smarter Money Investments last July. The interest was sold to one of the shareholders of cash and fixed income investment specialist Coolabah Capital, which is the other 50 per cent owner of Smarter Money Investments. That sale was worth $7.5 million.In October, YBR sold its direct-to-consumer online wealth and superannuation business Brightday to Pearl Funds Management. The price was not disclosed.YBR executive chair Mark Bouris said in a statement that the company moved out of wealth because "it lacked scale in an increasingly regulated environment".For the year to June, the company reported a net loss of $37.4 million, which included an asset write-down of $33.9 million on its wealth management and lending businesses. The loss the previous year was $658,000.The move into wealth has been a huge distraction for the company, which has been profitable only once in the past 10 years and has reported positive cash flow only once over the same period.It also appears to have hurt the core business. Lending volume was down 19 per cent and revenue fell 6.8 per cent to $183.8 million in 2018/19. The company is pinning its hopes on a securitisation deal finalised last year, which will allow it to fund its own loans. This should give the company a higher margin on the loans it sells.