FAM offers financial planning and investment management services. Credit: Inside Creative House/Shutterstock.

Ohio-based registered investment advisor (RIA) Sequoia Financial Group has added more than $300m in assets to its books with the acquisition of Family Asset Management (FAM), headquartered in Charleston, South Carolina.

Financial terms of the transaction remain undisclosed

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It bolsters Sequoia Financial’s presence in the Southeast, taking its footprint to 16 offices across ten states.

FAM founding partner and chief investment officer Dan Russler said: “Becoming part of Sequoia Financial is the culmination of a thoughtful, strategic search for the right partner that will allow us to continue our service-first approach to wealth management that we’ve had for two decades.”

Established in 2004, FAM serves high net worth individuals, families, corporations, and foundations, offering them financial planning and investment management services.

FAM chief operating officer and partner Andrew Barrett said: “With Sequoia Financial, and the specialised services of the Sequoia Sentinel family office, we will have a broader and deeper set of resources and investment offerings that will benefit our clients, many of whom are multigenerational.”

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For Sequoia Financial, Benesch, Friedlander, Coplan & Aronoff offered legal advice for the deal, while FAM received legal advice from Burr & Forman.

Earlier this year, Sequoia Financial acquired Karpas Strategies, an independent investment manager.

Karpas Strategies became part of Sequoia Financial’s Sequoia Sentinel Family Office.

Sequoia Financial provides a range of wealth management services, such as asset management, fiduciary consulting, estate and retirement planning, and family wealth.

As of 30 September 2024, the business had $21.5bn in assets under management.