Sequoia and Wealthstone to Merge

April 26, 2021

On April 20, 2021, it was announced that Sequoia Financial Group, LLC and Wealthstone Advisors entered into a definitive agreement to merge. Sequoia is backed by S&K client Kudu Investment Management.

Under the terms of the transaction, Sequoia Financial Group, LLC (“Sequoia”) and Wealthstone Advisors (“Wealthstone”) have entered into a definitive agreement to merge.  In the summer of 2020, S&K client Kudu Investment Management (“Kudu”) purchased a minority stake in Sequoia. The combined business will be based in Akron, Ohio operating under the Sequoia brand. The transaction is expected to close in the second quarter of 2021, and is subject to regulatory approval and customary closing conditions. Further terms of the deal were not disclosed.

Sequoia, based in Akron, Ohio, provides comprehensive financial planning and wealth management services. As of March 31, 2021, Sequoia had approximately $5.75 billion in assets under management.

Wealthstone, based in Columbus, Ohio, provides wealth management services with a focus on high net worth families and generational consulting. As of March 31, 2021, Wealthstone had approximately $1.4 billion in assets under management.

Kudu, based in New York, is a registered investment advisor that specializes in minority equity investments in asset management firms, wealth management firms, and pooled investment vehicles in the United States, United Kingdom, and Canada. Kudu’s partners include Sequoia, B|O|S, TIG Advisors, Versus Capital and Fair Oaks Capital.

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Categories

Investment Manager M&A, Transactions