SEC-registered wealth manager Sequoia Financial Group (Sequoia) has acquired AltruVista, (AltruVista), an SEC-registered investment adviser that offers high-net-worth clients independent, comprehensive financial planning and asset management services.
Sequoia, an Ohio-based company founded in 1991, has facilities across the country and offers asset management and wealth planning services to clients ranging from individuals to family offices.
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Additionally, Sequoia manages over $18bn in assets under management as of 31 March 2024.
AltruVista, founded in 2009 by CEO Ali Nasser, offers complete financial planning and wealth integration services to high-net-worth business owners and families.
As of 31 March 2024, Houston-based AltruVista managed assets worth more than $310m.
Moreover, Nasser will become a Sequoia stakeholder, continue to serve customers, and work with Sequoia advisers on his patented wealth integration system for entrepreneurs.
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By GlobalDataTom Haught, founder and CEO of Sequoia, stated: “AltruVista specialises in crafting customised 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.”
Nasser added: “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 US.”
Sequoia now has 14 offices spread over eight states, including the new Houston site.
It has expanded its services and geographic reach by both organic growth and acquisitions.
Zeke Capital Advisors, Cirrus Wealth Management, Affinia Financial Group, and M Capital Advisors were the four acquisitions that Sequoia announced in 2023.
Boyar Miller, LLP provided legal counsel to AltruVista and Republic Capital Group served as AltruVista’s financial adviser, while Sequoia’s legal advisers were Benesch, Friedlander, Coplan, and Aronoff LLP.
