Sequoia Financial to acquire $1.4 billion Wealthstone Advisors
The deal, which is expected to close this summer, pushes Akron, Ohio-based Sequoia s assets under management over the $7 billion mark.
April 20, 2021
Akron, Ohio-based Sequoia Financial Group is beefing up its Midwest footprint with the acquisition of Wealthstone Advisors, a $1.4 billion Columbus, Ohio-based advisory firm.
The cash and stock deal, which is expected to close by the end of June, will push Sequoia’s assets under management over the $7 billion mark and position the business closer to some of the nation’s largest registered investment advisers.
Wealthstone is Sequoia’s sixth and largest deal and follows Sequoia’s July 2020 capital infusion from Kudu Investment Management, which acquired a 33% ownership stake in the RIA.