Sequoia Financial Acquires $406M Sterling Financial Group
Sequoia Financial Group, LLC has acquired Sterling Financial Group, Inc., a Pasadena-based independent registered investment advisory firm overseeing $406 million in assets under management. Terms of the deal were not disclosed.
Founded in 1998, Sterling Financial provides personalized investment advisory services to individuals, multigenerational families, and small businesses. The firm serves roughly 200 clients across more than a dozen states with a team of seven professionals. As part of the transaction, Michael Hatch, Sterling’s owner and managing principal, and Kody Brown, financial advisor and principal, have become equity owners in Sequoia Financial.
“The team at Sterling Financial is an excellent cultural fit and gives us a stronger foothold in California, the nation’s most populous state. We welcome the experienced and talented Sterling Financial team and their clients to the Sequoia Financial family,” said Tom Haught, chairman, CEO and president of Sequoia Financial Group.
The acquisition builds on Sequoia’s strategic relationship with top-20 accounting firm Eide Bailly, announced in late 2024, and marks Sequoia’s first standalone office in California. Previously, the firm served California clients from space within Eide Bailly’s Irvine and Torrance offices.
Headquartered in Akron, Ohio, Sequoia Financial manages $29.9 billion in assets and supports more than 11,500 client households nationwide. The firm has advised high-net-worth families for more than 30 years and launched Sequoia Sentinel in 2023 to broaden its family office capabilities.
Sequoia has expanded steadily through both organic growth and acquisitions, enhancing its services and extending its national footprint. Since 2023, the firm has completed 11 acquisitions, including Zeke Capital Advisors, Cirrus Wealth Management, Affinia Financial Group, M Capital Advisors, AltruVista, Karpas Strategies, Family Asset Management, Eide Bailly Wealth, Carlson Capital Management, and The Martin Worley Group.
Benesch served as legal advisor to Sequoia Financial on the Sterling transaction. Shustak, Reynolds & Partners P.C. advised Sterling Financial, while DeVoe & Company acted as Sterling’s investment bank and strategic advisor.