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November 16, 2021

Sequoia Financial buys NCA Financial Planners

By Verdict Staff

Sequoia Financial Group has agreed to buy Ohio-based NCA Financial Planners (NCA) for an undisclosed amount.

The deal is expected to close by the end of December.

Under the agreement, NCA will operate under the Sequoia brand.

NCA CEO Kevin Myeroff will assume the role of principal and senior strategic advisor at  Sequoia. He will also become a shareholder of the firm.

The unified entity, which will oversee $10bn in assets, will employ approximately 145 people, including all 27 NCA staff.

Sequoia president and CEO Thomas Haught said: “We have long admired the stellar work Kevin and the NCA team have done on behalf of their clients.

“Adding their 27 talented individuals to work in concert with our team will enhance our clients’ experience. Additionally, when we join forces, we will continue to reinvest in our specialists to stay on the forefront of technology, asset management, and wealth planning.”

Commenting on the deal, Myeroff said: “As part of our strategic, long-term succession plan, NCA carefully outlined the type of firm we want to join, and we enthusiastically chose Sequoia.

“Both firms share a mission centered around enriching lives by building enduring relationships and providing excellence in client service.”

Recent developments at Sequoia

In April this year, Sequoia Financial acquired Ohio-based wealth manager Wealthstone Advisors, bringing its assets under management to over $7bn.

Last year, Kudu Investment Management, which offers capital solutions to asset and wealth managers, made a strategic investment in the firm.

In 2019, Sequoia snapped up Sydney-headquartered financial advice dealer group Libertas Financial Planning.

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