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.
A round-up of people moves and M&A deals across North America
M&A
Wealth Enhancement Group
The independent wealth management firm has acquired North American Management (NAM), an independent registered investment adviser (RIA) firm based in Boston.
Founded in 1928, NAM provides planning-oriented wealth management, trust services and a range of investment offerings, including individual security portfolios, to ultra-high net worth individuals, families, endowments/foundations, and business owners nationwide.
The acquisition will bring a team of 20 individuals, including nine financial advisers, to Wealth Enhancement Group.
The financial terms of the transaction were not disclosed.
Focus Financial Partners
The partnership of independent, fiduciary wealth management firms has brought RIA firm Rollins Financial into the group for an undisclosed sum.
Private equity-backed hybrid RIA to reach $29B with M&A deal 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.