Sequoia Financial Acquires $420M Connecticut UHNW-Focused Advisor 

Sequoia Financial Group, LLC, acquired Karpas Strategies, LLC, an independent investment manager overseeing more than $420 million for ultra-high-net-worth families, foundations and trusts.  

Litchfield, CT-based Karpas Strategies will become part of Sequoia Financial’s Sequoia Sentinel Family Office, which launched in November 2023. The transaction closed July 31, 2024. Financial terms were not disclosed.  

Founded in 1994 by Matthew Karpa, the three-person team includes Karpas, corporate strategy and business development manager Zachary Chernus, and client services specialist Liz Faraj. The firm noted that over 75% of its assets come from multigenerational relationships, and two-thirds are female-owned. 

“We’re pleased to join forces with Sequoia Financial, continuing our tradition of exceptional, highly personalized service for our clients,” Karpas said. “And we are especially excited for our clients to benefit from the broad and deep resources Sequoia Financial has built and the specialized services available within the Sequoia Sentinel Family Office. 

Akron, OH-based Sequoia Financial, which oversees more than $19 billion in assets, has been serving high net worth individuals and families since 1991. With the new Connecticut location, Sequoia Financial’s second in New England and second of the year, the firm now has 15 offices in nine states. Since the start of 2023, the firm has made six acquisitions, including Karpas Strategies, AltruVista, Zeke Capital Advisors, Cirrus Wealth Management, Affinia Financial Group, and M Capital Advisors.