Sequoia Monetary Group, a wealth supervisor primarily based in Akron, Ohio, with greater than $15 billion in belongings underneath administration, has agreed to accumulate M Capital Advisors of Nashville, Tenn.
M Capital, which nas about $930 million underneath administration and in addition has an workplace in San Antonio, has been offering personalized portfolio administration providers to people and establishments for greater than 30 years, in keeping with a press launch.
Sequoia stated it hopes to shut on the acquisition by the tip of the month. Monetary phrases of the deal weren’t disclosed.
“M Capital has demonstrated its funding acumen on behalf of purchasers for many years, and its distinctive funding administration capabilities will additional strengthen ours,” stated Tom Haught, founder and CEO of Sequoia. “The management workforce at M Capital shares our dedication to offering service choices which are constructed expressly for purchasers, and we look ahead to doing simply that as we be a part of forces.”
M Capital serves high-net-worth people, households, and establishments and employs a workforce of 13 professionals, the press launch stated. The agency is led by founder and Chairman Frank Mastrapasqua. The employees additionally consists of CEO Mauro Mastrapasqua, Chief Portfolio Strategist Edwin Barton, Chief Funding Officer Patrick Snell and Claude Koontz, principal and portfolio supervisor.
“Changing into a part of Sequoia Monetary will present M Capital purchasers with broader and extra tailor-made wealth administration options, particularly within the excessive and extremely excessive internet value areas, supported by Sequoia’s intensive operational, technological, and monetary sources,” Frank Mastrapasqua stated in a ready assertion.
This might be Sequoia fourth acquisition this 12 months, the press launch stated, including that the M Capital workforce will enhance Sequoia’s employees to 250 individuals.
Based in 1991, Akron, Ohio-based Sequoia supplies asset administration and wealth planning providers throughout the wealth continuum—from people to household workplaces—with places all through the U.S.