Sequoia Financial Buys $300M South Carolina RIA 

Sequoia Financial Group, LLC, an Akron, OH-based wealth manager with $21.5 billion in assets under management, has acquired Family Asset Management (FAM), a Charleston, SC investment advisory firm. Financial terms were not disclosed. 

Founded in 2004 and led by Andrew Barrett, COO and partner, and Dan Russler, CIO and a founding partner, FAM provides financial planning and investment management services to high-net-worth clients, multigenerational families, corporations and foundations.  

With the new Charleston location, Sequoia Financial now has 16 offices in 10 states. 

“With Sequoia Financial, and the specialized services of the Sequoia Sentinel family office, we will have a broader and deeper set of resources and investment offerings that will benefit our clients, many of whom are multigenerational,” said Barrett. 

Sequoia Financial has grown organically and through acquisitions. Since 2023, the RIA has made seven acquisitions, including Karpas Strategies, Zeke Capital Advisors, Cirrus Wealth Management, Affinia Financial Group, M Capital Advisors, and AltruVista. In August, it also announced a strategic partnership with Eide Bailly, including the pending acquisition of its wealth management practice. 

Backed by private equity firm Valeas Capital Partners and minority investor Kudu Investment Management, Sequoia Financial has been serving high net worth individuals and families since 1991 and launched Sequoia Sentinel in 2023 to expand its family office services. 

Benesch, Friedlander, Coplan & Aronoff LLP served as legal advisor to Sequoia Financial. Burr & Forman served as legal advisor to FAM.