Sequoia Financial Group Announces Major Acquisition
Sequoia Financial Group, LLC, a prominent SEC-registered wealth manager, has embarked on an exciting new journey by acquiring Carlson Capital Management, LLC, enhancing its position in the wealth management landscape. With a robust portfolio boasting $22.6 billion in assets under management as of the end of the previous year, Sequoia is now set to welcome Carlson Capital into its family, thereby expanding its national presence.
Expanding Service Offerings and Workforce
The integration of Carlson Capital adds specialist tax planning and preparation services to Sequoia Financial, pushing its employee count to 385 and increasing its number of wealth advisors to 150. This merger enriches Sequoia's capabilities, offering clients an even broader range of wealth management solutions. With Carlson's established presence in Minnesota, Sequoia now operates 34 offices across 19 states.
Leadership Transition and Future Focus
In the wake of this acquisition, Carlson Capital’s co-founders, Gregory and Jeffrey Carlson, have transitioned to roles as senior strategic advisors. Justin Stets, the former CEO of Carlson Capital, now serves as the executive vice president of integrated wealth services within Sequoia Financial, directly reporting to CEO Tom Haught. Haught expressed enthusiasm about the merger, stating, "Our combined capabilities, bolstered by CCM's integrated wealth and tax services, provide immense benefits to our clients and will facilitate our ongoing expansion."
Sequoia's Growth Journey
Since 2023, Sequoia Financial has actively pursued growth through a series of nine strategic acquisitions, enhancing its offerings in the investment advisory space. The firm has previously integrated entities such as Zeke Capital Advisors and Cirrus Wealth Management, each bringing unique strengths and regional insights. These acquisitions are part of Sequoia's broader strategy to bolster its market presence and refine its service portfolio.
A Commitment to High Net Worth Individuals
Serving high net worth individuals and families since its establishment in 1991, Sequoia Financial has developed a reputation for its personalized approach to wealth management. In 2023, the firm introduced the Sequoia Sentinel platform to cater to the specific needs of family offices, offering services that encompass asset management, tax optimization, wealth transfer strategies, and charitable planning. Such offerings are designed to navigate the complexities associated with sustaining generational wealth.
About Sequoia Financial Group
Founded in 1991, Sequoia Financial Group, LLC prides itself on a client-centered approach to wealth management, providing services that include asset management, estate and retirement planning, and fiduciary consulting. The firm focuses on building long-lasting relationships with its clients, emphasizing strategic planning to achieve financial goals. In 2024, Barron's recognized Sequoia as one of the top Registered Investment Advisor (RIA) firms in the United States, marking the sixth consecutive year it has received this accolade. As of the close of the previous year, the firm managed $22.6 billion in assets. For those seeking insights into wealth management strategies, further information can be found on their official website.
Connect with Sequoia Financial Group
Sequoia Financial invites interested parties to learn more about their wealth management services or to connect with their team for personalized advisory services. For inquiries, media representatives can contact Margaret Kirch Cohen or Kathy Panagopoulos directly, ensuring a smooth communication line for those who wish to explore Sequoia's offerings in further detail.
Frequently Asked Questions
What does the acquisition mean for Sequoia Financial Group?
The acquisition enhances Sequoia's service offerings, particularly by integrating tax services and expanding its national reach.
How many employees does Sequoia Financial Group have?
With the recent acquisition, Sequoia Financial Group has increased its workforce to 385 employees.
What clients does Sequoia Financial serve?
Sequoia Financial primarily serves high net worth individuals and families, offering tailored wealth management solutions.
When was Sequoia Financial Group founded?
Sequoia Financial Group was founded in 1991 and has grown significantly since then.
What recognition did Sequoia receive in 2024?
In 2024, Barron's ranked Sequoia Financial among the top RIA firms in the U.S., marking six years of consecutive recognition.
