Sequoia Financial Group Plots Western Expansion Following Completion of Wealth Management Partnership with Eide Bailly

AKRON, Ohio, Dec. 2, 2024 /PRNewswire/ -- Sequoia Financial Group, LLC (Sequoia Financial), an SEC-registered wealth manager with $21.5 billion in assets under management (AUM) as of Sept. 30, 2024, and Eide Bailly LLP, a top 20 national accounting firm, have completed their previously announced strategic partnership. As part of the agreement, Sequoia Financial has acquired Eide Bailly's wealth management practice, adding 22 employees and $1.6 billion in assets as it plans to expand in the western United States, where Eide Bailly has a significant presence.

Akron, Ohio-based Sequoia Financial currently has 16 offices in nine states, primarily in the Midwest, East and Southeast U.S. regions. Headquartered in Fargo, North Dakota, Eide Bailly has 40 U.S. offices, with a major footprint in the western United States.

Sequoia Financial plans to roll out its branded wealth management operations in Eide Bailly offices in markets including Los Angeles, Phoenix and Salt Lake City. The firm also aims to hire as many as 40 advisors in 2025 as it expands its presence west of the Mississippi River and intends to boost its acquisition efforts in key wealth management markets there.

Following the partnership agreement with Eide Bailly, Brad Kelley, previously principal and wealth leader for Eide Bailly Advisors, is now an executive vice president of corporate development for Sequoia Financial, responsible for leading joint initiatives between the two firms. He reports to Chris Thom, executive vice president and chief strategy & partnerships officer.

Brett Meyer, CFA, previously investment strategy director for Eide Bailly Advisors, is now head of investor relations for Sequoia Financial's investment research team, reporting to Nick Zamparelli, chief investment officer. Meyer is responsible for content and messaging for the firm's public and private investment platform.

"We expect our partnership with Eide Bailly to reap significant benefits as we deliver expanded accounting and wealth management services to each other's clients throughout the country," said Tom Haught, CEO of Sequoia Financial.

Sequoia Financial has been serving individuals and families since 1991. The firm launched Sequoia Sentinel in 2023 to expand its family office services. The firm's tailored services include asset management, tax management, wealth transfer, asset transactions, and charitable planning to meet the challenges inherent to generational wealth. It also has expertise in executive compensation, estate planning dynamics, family governance, and special-needs planning.

About Sequoia Financial Group
Sequoia Financial Group, LLC, founded in 1991, takes a client-centered approach to providing wealth management services, including asset management, estate and retirement planning, fiduciary consulting, and family wealth. Sequoia Financial builds and maintains strong relationships that emphasize long-term planning to help clients reach their financial and life goals. The firm was named by Barron's as one of the top RIA firms in the U.S. in 2024 for the sixth consecutive year. Sequoia Financial had $21.5 billion in assets under management as of Sept. 30, 2024. For more information, visit www.sequoia-financial.com.

Media Contact:
Margaret Kirch Cohen
Newton Park PR, LLC
+1 847-507-2229
[email protected] 

Richard Chimberg
Newton Park PR
+1 617-312-4281
[email protected] 

Investment advisory services offered through Sequoia Financial Advisors, LLC, an SEC Registered Investment Advisor. Registration as an investment advisor does not imply a certain level of skill or training.

The tax and estate planning information offered by the advisor is general in nature. It is provided for informational purposes only and should not be construed as legal or tax advice. Always consult an attorney or tax professional regarding your specific legal or tax situation. Tax preparation is done by a 3rd party and not Sequoia Financial Group.

On September 18, 2024 Sequoia placed 28th on the Barron's list for the year 2024 (41st in 2023, 48th in 2022, 66th in 2021, 64th in 2020 and 47th in 2019). Barron's weighs dozens of qualitative and quantitative components, including assets managed, the size and experience of teams, regulatory record of the advisors and firms, succession planning, technology spending, and staff diversity based off a 102-question survey. Investment performance isn't an explicit component because not all advisors have audited results and because performance figures often are influenced more by clients' risk tolerance than by an advisor's investment-picking abilities. No fees in any years awarded were paid or incurred to receive this recognition. $18,950 was spent in 2023, $6,940 was spent in 2022, $8,500 was spent in 2021, $0 in 2020, and $17,240 in 2019 for marketing collateral associated with the award to be used on social media, our website, and email signatures. To view the full Barron's rankings, click here.

SOURCE Sequoia Financial Group, LLC