Sequoia Financial Group is adding more than $5 billion in assets with its pending acquisition of Zeke Capital Advisors.
The deal, which is expected to close Feb. 28, represents one of the largest RIA transactions of 2023 and will push Sequoia’s total assets to more than $15 billion.
The acquisition will double the size of Sequoia’s family wealth practice, both in terms of assets under management and in client households, with the combined teams offering a full suite of services to ultra-high-net-worth families and institutions.
“This is a strategic transaction by Sequoia to strengthen their ultra-high-net-worth and multifamily office business,” said David DeVoe, founder and chief executive of DeVoe & Co.
“This move will also extend their geographic footprint while strengthening their value proposition,” he added. “Sequoia continues to gain momentum as a serial acquirer, and this investment will help them gain more interest from multifamily office firms.”
Founded in 1991 by Tom Haught, Akron, Ohio-based Sequoia manages more than $10 billion and employs more than 180 people throughout the central and southeastern United States.
Zeke, founded in 2008 in Berwyn, Pennsylvania, by veteran fund manager Edward Antoian, is a multifamily office firm led by Antoian and Gee Smith that employs 28 people.
“Together, we will broaden and deepen Sequoia’s family wealth practice, add to our full-service team of family wealth advisors, and enhance the range of our investment offerings as we expand our role within this strategic market,” Haught said in a statement.
Antoian said that after a search for the right partner, “Sequoia emerged as the ideal firm to support Zeke’s mission of serving multigenerational families."
“Joining Sequoia’s successful family wealth practice will help ensure our clients will be in great hands for generations to come,” he added.
Zeke will begin operating under the Sequoia Financial Group brand on March 1.
Antoian and Smith will remain actively involved with the firm, according to the announcement.
The looming threat of federal funding cuts to state and local governments has lawmakers weighing a levy that was phased out in 1981.
The fintech firms' new tools and integrations address pain points in overseeing investment lineups, account monitoring, and more.
Canadian stocks are on a roll in 2025 as the country prepares to name a new Prime Minister.
Carson is expanding one of its relationships in Florida while Lido Advisors adds an $870 million practice in Silicon Valley.
The approval of the pay proposal, which handsomely compensates its CEO and president, bolsters claims that big payouts are a must in the war to retain leadership.
RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.
As inheritances are set to reshape client portfolios and next-gen heirs demand digital-first experiences, firms are retooling their wealth tech stacks and succession models in real time.
