Sequoia Financial Group, LLC (Sequoia Financial), an SEC-registered wealth manager with $21.5 billion in assets under management as of Sept. 30, 2024, and Family Asset Management (FAM), a Charleston, South Carolina-based investment advisory firm, announced that Sequoia Financial has acquired FAM. Financial terms were not disclosed.
Founded in 2004, FAM is an SEC-registered investment advisor with more than $300 million in assets under management as of Sept. 30, 2024. FAM provides financial planning and investment management services to high net worth clients, multigenerational families, corporations and foundations.
FAM expands Sequoia Financial’s footprint in the Southeast, an important and growing market for the firm. FAM 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, strategic search for the right partner that will allow us to continue our service-first approach to wealth management that we’ve 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 resources and investment offerings that will benefit our clients, many of whom are multigenerational,” said Barrett.
“Family Asset Management just celebrated 20 years in business, which speaks to the enduring quality of the team, its offerings, and dedication to client service,” said Tom Haught, CEO of Sequoia Financial. “We look forward to having Dan, Andrew, and their team join forces with us to continue the legacy they’ve built.”
With the new Charleston location, Sequoia Financial now has 16 offices in 10 states. Sequoia Financial has grown organically and through acquisitions to expand its services and geographic footprint. Since 2023, Sequoia Financial has made seven acquisitions, including Karpas Strategies, AltruVista, Zeke Capital Advisors, Cirrus Wealth Management, Affinia Financial Group, and M Capital Advisors. In August 2024, Sequoia Financial also announced a strategic partnership with Eide Bailly, including the pending acquisition of its wealth management practice.
Akron, Ohio-based Sequoia Financial offers services to clients across the wealth continuum. Sequoia Financial has been serving high net worth individuals and families since 1991 and launched Sequoia Sentinel in 2023 to expand its family office services. These tailored services include asset management, tax management, wealth transfer, asset transactions, and charitable planning to meet the challenges inherent to generational wealth.
Sequoia Financial was named by Barron’s as one of the top RIA firms in the U.S. in 2024 for the sixth consecutive year. The ranking is based on assets managed, technology spending, staff diversity, succession planning, and other metrics.
Benesch, Friedlander, Coplan & Aronoff LLP served as legal advisor to Sequoia Financial. Burr & Forman served as legal advisor to FAM.
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