Sequoia Acquires Ohio Wealth Manager with $387M in Assets
Sequoia Financial Group LLC, a registered wealth manager with nearly $16 billion in assets under management, has agreed to buy $387 million Cirrus Wealth Management.
Financial terms of the deal, which is expected to close on July 31, were not disclosed.
Founded in 2015 by Joe Heider and based in Cleveland, OH, Cirrus’ clients include individuals, families and small businesses. The company employs 12 professionals across advisory and support teams. Heider will serve as a strategic advisor to Sequoia. His son, Ryan Heider, will join Sequoia as vice president and wealth advisor.
“As part of our growth plans, we want to provide a way for firms like Cirrus to secure their legacies and help pass the torch from one generation to the next,” said Tom Haught, founder and CEO of Sequoia.
Akron, OH-based Sequoia Financial Group recently announced that Joseph Glick was hired as executive vice president and COO. The firm also elevated its existing employees to head up a strategic growth initiative, including Kevin Tichnell and Annie McCauley.
In February, the firm acquired Zeke Capital Advisors, a multifamily office with more than $5 billion is assets that provides investment advice, portfolio management and wealth planning.
