Sequoia Monetary Group, an Akron, Ohio-headquartered registered funding advisor with greater than $21.5 billion in property underneath administration, has acquired Household Asset Administration, a Charleston, S.C.-based RIA with greater than $300 million in consumer property.
The deal expands Sequoia’s Southeast footprint, bringing the RIA to 16 places of work in 10 states. This represents its seventh acquisition since 2023.
FAM was based in 2004, and it offers monetary planning and funding administration to high-net-worth shoppers, multi-generational households, firms and foundations. It’s led by Andrew Barrett, chief working officer and associate, and Dan Russler, chief funding officer and a founding associate.
“Changing into a part of Sequoia Monetary is the end result of a considerate, strategic seek for the precise associate that may permit us to proceed our service-first method to wealth administration that we’ve had for 20 years,” stated Russler.
“With Sequoia Monetary and the specialised providers of the Sequoia Sentinel household workplace, we could have a broader and deeper set of sources and funding choices that may profit our shoppers, lots of whom are multigenerational,” stated Barrett.
Sequoia launched its household workplace division, Sequoia Sentinel, late final yr for its ultra-high-net-worth shoppers. Sentinel represents about 55% of the agency’s property and serves shoppers with a minimal of $20 million.
This follows information in August that Sequoia acquired the wealth administration enterprise of Eide Bailly, an accounting agency in Fargo, N.D., which encompasses about $1.58 billion in consumer property. Eide Bailly’s RIA will change into a part of Sequoia, and the accounting agency will take a stake in Sequoia.
