Wealth management services firm Sequoia Financial Group has agreed to acquire M Capital Advisors, a US Securities and Exchange Commission (SEC) registered wealth manager that offers tailored portfolio management services to individuals and institutions.
The financial terms of the deal were not revealed.
Established in 1993, M Capital Advisors caters to high-net-worth individuals, families, and institutional investors. As of 30 September 2023, it was managing more than $930m in assets under management.
By delivering an extensive pool of investment research and market insights to its customers, the Tennessee-based business is said to establish connections and wealth through tailored portfolio management.
M Capital Advisors founder and chairman Frank Mastrapasqua said: “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.”
Through the acquisition of M Capital Advisors, Sequoia Financial aims to expand its wealth management services and add 250 people.
Based in Ohio, Sequoia Financial offers asset management and wealth planning services across the wealth continuum from individuals to family offices with locations throughout the US.
The services include estate and retirement planning, fiduciary consulting, and family wealth.
In the current year, Sequoia Financial announced four acquisitions, including Zeke Capital Advisors, Cirrus Wealth Management, and Affinia Financial Group.
Sequoia Financial founder and CEO Tom Haught said: “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.”
The transaction is anticipated to be completed by the month-end.
Benesch, Friedlander, Coplan & Aronoff served as legal advisor to Sequoia Financial Group while Bradley Arant Boult Cummings served as legal advisor to M Capital Advisors.
