Sequoia Financial Group, a wealth management firm based in Akron, Ohio, managing $21.5 billion in assets as of September 30, 2024, has acquired Family Asset Management (FAM), an investment advisory firm from Charleston, South Carolina. Financial terms of the acquisition remain confidential.
Founded in 2004, FAM is an SEC-registered investment advisor managing over $300 million in assets as of the same date. FAM provides financial planning and investment services to high-net-worth individuals, multigenerational families, corporations, and foundations. This acquisition strengthens Sequoia Financial’s presence in the Southeast, an expanding market for the firm. FAM’s leadership team includes Andrew Barrett, COO and Partner, and Dan Russler, CIO and Founding Partner.
With this new Charleston location, Sequoia Financial now operates 16 offices across 10 states, growing through both organic expansion and acquisitions. Since 2023, Sequoia has completed seven acquisitions, including Karpas Strategies, AltruVista, Zeke Capital Advisors, Cirrus Wealth Management, Affinia Financial Group, and M Capital Advisors. In August 2024, it announced a strategic alliance with Eide Bailly, including plans to acquire its wealth management division.
Sequoia Financial serves clients across the wealth spectrum, catering to high-net-worth individuals and families since 1991. In 2023, it launched Sequoia Sentinel to expand its family office services, offering asset management, tax planning, wealth transfer, asset transactions, and charitable planning.
Benesch, Friedlander, Coplan & Aronoff served as legal advisors to Sequoia Financial, while Burr & Forman represented FAM.
Key Quotes:
“Joining Sequoia Financial is the result of a strategic search for a partner who aligns with our service-oriented approach to wealth management.”
– Dan Russler
“With Sequoia Financial and the specialized Sequoia Sentinel family office services, we’ll have expanded resources and investment offerings to benefit our multigenerational clients.”
– Andrew Barrett
“Family Asset Management’s 20-year legacy is a testament to their team’s quality and commitment to clients. We’re excited to have Dan, Andrew, and their team join us.”
– Tom Haught, CEO of Sequoia Financial
