Sequoia Financial Group said Tuesday that it has officially closed its acquisition of Carlson Capital Management.
The deal, first announced in January, marks Sequoia’s ninth completed acquisition since 2023 and adds some $3.8 billion in client assets to Sequoia’s $22.6 billion. In addition to increased scale, the acquisition of Carlson adds internal tax planning and preparation services to Sequoia Financial, while expanding its national presence to 385 staff and 150 wealth advisors.
With Carlson’s four Minnesota locations, Sequoia Financial now has 34 offices in 19 states.
Gregory Carlson and Jeffrey Carlson, co-founders of Carlson Capital Management, are now senior strategic advisors. Justin Stets, previously CEO of Carlson, is now executive vice president of integrated wealth services for Sequoia Financial, reporting to CEO Tom Haught.
“We are pleased to finalize our agreement and welcome CCM’s talented team to Sequoia Financial," Haught said in a statement. “Our combined capabilities, including CCM's integrated wealth and tax services, will benefit clients as we continue to expand our offerings and footprint.”
Sequoia Financial’s largest prior acquisitions include Zeke Capital Advisors ($5 billion in assets under advisement), Eide Bailly Wealth ($1.6 billion) and M Capital Advisors ($930 million).
Credit: Adobe Stock
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.