Wealth Enhancement Group to acquire Pillar Pacific Capital Management financial-planning.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from financial-planning.com Daily Mail and Mail on Sunday newspapers.
The combined firm will be based in Akron, Ohio, and operate under the Sequoia brand.
It will offer financial planning, wealth management, asset management and business consulting services to clients and their families.
The merger is expected to close in the second quarter and financial terms were not disclosed.
Wealthstone principals Jim Wyland, Norm Cook, Brian Stertzer, and Jack Zhang will become shareholders of Sequoia.
Upon completion of the merger, Sequoia Financial Group will employ approximately 110 people and have more than $7bn (£5.02bn, €5.78bn) in assets.
Sun Life Financial
The insurance firm has agreed to acquire Pinnacle Care International, a US medical intelligence and health-care navigation provider, for $85m.
MINNEAPOLIS, April 27, 2021 /PRNewswire/ Wealth Enhancement Group, an independent wealth management firm, today announced that it will join forces with Pillar Pacific Capital Management, LLC, an independent registered investment adviser (RIA) with locations in Northern and Southern California that has $1.6 billion in total client assets. The transaction is expected to bring Wealth Enhancement Group s total client assets to $31.8 billion upon closing.
Led by President and CEO Mindy Ying, Pillar Pacific s predecessor firm was founded in 1993 by its current Chief Investment Officer, Arthur French. The firm has seven financial advisors, who provide sophisticated investment management capabilities and holistic financial planning and wealth management services to high-net-worth individuals, multi-generational families and select institutions in the United States, Asia, Europe, Africa and Latin America.