Sequoia Financial Group – a leading SEC-registered wealth manager with over $15 billion in assets under management as of September 30, 2023 – recently announced it has agreed to acquire M Capital Advisors – which has been providing customized portfolio management services to individuals and institutions for more than three decades. The firms expect the deal to close by October 31. The financial terms were not disclosed.
Launched in 1991, Akron, Ohio-based Sequoia provides asset management and wealth planning services across the wealth continuum—ranging from individuals to family offices—with locations throughout the United States. M Capital (based in Nashville, Tennessee, and with an office in San Antonio, Texas) is an SEC-registered firm with $930 million in assets under management as of September 30, 2023. Its clients are high-net-worth individuals, families, and institutions. Launched in 1993, M Capital employs a team of 13 professionals. The firm is led by Frank Mastrapasqua, founder and chairman; Mauro Mastrapasqua, CEO; Edwin Barton, chief portfolio strategist; Patrick Snell, chief investment officer; and Claude Koontz, principal and portfolio manager.
Sequoia has grown organically and through acquisitions for expanding its services and geographic footprint. This year, Sequoia has announced four acquisitions, including Zeke Capital Advisors, Cirrus Wealth Management, and Affinia Financial Group. With the addition of the M Capital team, Sequoia is going to employ 250 people.
KEY QUOTES:
“M Capital has demonstrated its investment acumen on behalf of clients for decades, and its exceptional investment management capabilities will further strengthen ours. The leadership team at M Capital shares our commitment to providing service offerings that are built expressly for clients, and we look forward to doing just that as we join forces.”
— Tom Haught, founder and CEO of Sequoia
“Becoming part of Sequoia Financial will provide M Capital clients with broader and more tailored wealth management solutions, especially in the high and ultra high net worth areas, supported by Sequoia’s extensive operational, technological, and financial resources. Sequoia’s talented national wealth advisor team is second to none.”
— Frank Mastrapasqua
