Sequoia Financial Group, an Akron, Ohio-based registered investment advisor with more than $21.5 billion in assets under management, has acquired Family Asset Management, a Charleston, SC-based RIA with more than $300 million in client assets .
The deal expands Sequoia's Southeast footprint, bringing the RIA to 16 offices in 10 states. This represents its seventh acquisition since 2023.
FAM was founded in 2004 and provides financial planning and investment management to high net worth clients, multi-generational families, corporations and foundations. It is led by Andrew Barrett, chief operating officer and partner, and Dan Russler, chief investment officer and a founding partner.
“Becoming part of Sequoia Financial is the culmination of a thoughtful and strategic search for the right partner that will allow us to continue our service-first approach to wealth management that we have had for two decades,” said Russler.
“With Sequoia Financial and the specialized services of the Sequoia Sentinel family office, we will have a broader and deeper set of investment resources and offerings that will benefit our clients, many of whom are multi-generational,” said Barrett. .
sequoia opened the family office divisionSequoia Sentinel, late last year for its extremely high net worth clients. Sentinel represents approximately 55% of the firm's assets and serves clients with a minimum of $20 million.
This follows news in August that Sequoia bought Eide Bailly's wealth management businessan accounting firm in Fargo, ND, which includes approximately $1.58 billion in client assets. Eide Bailly's RIA will become part of Sequoia and the accounting firm will take a stake in Sequoia.