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Sequoia Financial to acquire $1.4 billion Wealthstone Advisors The deal, which is expected to close this summer, pushes Akron, Ohio-based Sequoia's assets under management over the $7 billion mark. April 20, 2021 Akron, Ohio-based Sequoia Financial Group is beefing up its Midwest footprint with the acquisition of Wealthstone Advisors, a $1.4 billion Columbus, Ohio-based advisory firm. The cash and stock deal, which is expected to close by the end of June, will push Sequoia’s assets under management over the $7 billion mark and position the business closer to some of the nation’s largest r...

The unquenchable thirst for wealth management With M&A in the RIA space setting records, the focus turns naturally to the seemingly irreversible influence of private equity money. February 22, 2021 8 MINS With $5 billion in assets under management and nine acquisitions under its belt, some might assume Merit Financial Advisors is hitting all the right notes for building scale in the modern wealth management industry. In reality, the 22-year-old advisory firm has reached the level at which the deep-pocketed world of private equity capital and expertise steps in to rocket ...

Universe Apart Folksy and earnest, Duran, 53, is a unique emissary for the investment bank. His Horatio Alger-esque background — something the company likes to highlight — is a universe apart from the typical resume of a Goldman managing director. After a hardscrabble upbringing in what he describes as a broken family, Duran arrived in the U.S. at 19 with $200 to his name. He went on to found and sell first an investment firm and then United, which he was estimated to own about 10% of at the time of the sale. Duran declined to comment on his stake. The author of three financial self-he...

Despite the economic drag of the global pandemic, 2020 was a banner year for RIA consolidation, and nobody sees an end to that anytime soon.

RIA M&A saw no slowdown in action in 2020 Deal watchers say 2021 will be another record year December 21, 2020 3 MINS The data is still being gathered, but preliminary results suggest the pace of consolidation in the RIA space was barely hampered by the effects of the global pandemic that effectively shut down, or at least locked down, much of the global economy. While the initial shock from COVID-19 came during the first quarter, which saw the S&P 500 Index fall by 30% in less than four weeks, the lagging nature of acquisition activity didn’t start showing up unt...