Sequoia Financial Group (a leading SEC-registered wealth manager with over $18 billion in assets under management as of March 31, 2024) announced it had acquired AltruVista, an SEC-registered investment advisor that provides independent and holistic financial planning and asset management services to high-net-worth clients. The deal closed on March 31, and the financial terms were not disclosed.
Launched in 1991, Sequoia, based in Akron, Ohio, offers asset management and wealth planning services across the wealth continuum—from individuals to family offices—with locations throughout the US.
As of March 31, 2024, Houston-based AltruVista had over $310 million in assets under management. Launched in 2009 by CEO Ali Nasser, AltruVista offers comprehensive financial planning and wealth integration services to high-net-worth business owners and families. Nasser will become a shareholder of Sequoia, continue to support clients, and collaborate with Sequoia advisors on his proprietary Wealth Integration System for Entrepreneurs.
Sequoia now has 14 offices in eight states with this new Houston location. And Sequoia has grown organically and through acquisitions to expand its services and geographic footprint. Last year, Sequoia announced four acquisitions, including Zeke Capital Advisors, Cirrus Wealth Management, Affinia Financial Group, and M Capital Advisors.
Benesch, Friedlander, Coplan & Aronoff LLP served as legal advisor to Sequoia. Boyar Miller, LLP, served as AltruVista’s legal advisor, and Republic Capital Group served as its financial advisor.
KEY QUOTES:
“AltruVista specializes in crafting customized planning solutions for entrepreneurs and business owners. The foundation for this partnership is based on a long-standing relationship with Ali, mutual respect, and a shared vision for providing unparalleled client support to fuel the success of business owners.”
– Tom Haught, founder and CEO of Sequoia
“I have known and admired Sequoia for over a decade. Sequoia’s ‘Built for You’ client philosophy matches our vision and values, and our new partnership will bring significant benefits to our clients and team. Our intellectual property for entrepreneurs, combined with Sequoia’s infrastructure and investment platform, creates a premier offering for business owners across the U.S.”
– AltruVista CEO Ali Nasser
