Sequoia Financial Group to Acquire Nashville-based M Capital Advisors, Expanding Wealth Management Services

 

AKRON, OHIO, Oct. 20, 2023 – Sequoia Financial Group, LLC (Sequoia), a leading SEC-registered wealth manager with more than $15 billion in assets under management as of Sept. 30, 2023, today announced it has entered into an agreement to acquire M Capital Advisors (M Capital), which has been providing customized portfolio management services to individuals and institutions for more than three decades. The firms expect the transaction to close by Oct. 31. Financial terms were not disclosed.

Founded in 1991, Akron, Ohio-based Sequoia provides asset management and wealth planning services across the wealth continuum—from individuals to family offices—with locations throughout the United States.

M Capital, based in Nashville, Tenn. and with an office in San Antonio, Texas, is an SEC-registered firm with $930 million in assets under management as of Sept. 30, 2023. Its clients are high net worth individuals, families, and institutions. Formed in 1993, M Capital employs a team of 13 professionals. The firm is led by Frank Mastrapasqua, founder and chairman; Mauro Mastrapasqua, CEO; Edwin Barton, chief portfolio strategist; Patrick Snell, chief investment officer; and Claude Koontz, principal and portfolio manager.

“M Capital has demonstrated its investment acumen on behalf of clients for decades, and its exceptional investment management capabilities will further strengthen ours,” said Tom Haught, founder and CEO of Sequoia. “The leadership team at M Capital shares our commitment to providing service offerings that are built expressly for clients, and we look forward to doing just that as we join forces.”

Sequoia has grown organically and through acquisitions to expand its services and geographic footprint. In 2023, Sequoia has announced four acquisitions, including Zeke Capital Advisors, Cirrus Wealth Management, and Affinia Financial Group. With the addition of the M Capital team, Sequoia will employ 250 people.

Sequoia was recently named by Barron’s as one of the top RIA firms in the U.S. in 2023 for the fifth consecutive year. The ranking is based on assets managed, technology spending, staff diversity, succession planning, and other metrics.

Benesch, Friedlander, Coplan & Aronoff LLP served as legal advisor to Sequoia. Bradley Arant Boult Cummings, LLP served as legal advisor to M Capital.

About M Capital Advisors

Based in Nashville, Tenn., and with an office in San Antonio, Texas, M Capital Advisors is an SEC-registered firm managing approximately $930 million in assets as of Sept. 30, 2023. It serves high net worth individuals, families, and institutional investors. Formed in 1993, M Capital strives to build relationships and wealth through customized portfolio management by bringing a deep pool of investment research and understanding of the markets to its clients. For more information, visit www.mcapitaladv.com.

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 builds and maintains strong relationships that emphasize long-term planning to help clients reach their financial and life goals. Sequoia was named by Barron’s as one of the top RIA firms in the U.S. in 2023 for the fifth consecutive year. Sequoia had more than $15 billion in assets under management as of Sept. 30, 2023. For more information, visit www.sequoia-financial,com.

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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.On September 18, 2023, Sequoia placed 41st on this list for the year 2023. 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 on 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. $0 was spent in 2023, $6,940 in 2022 and $8,500 was spent in 2021 for marketing collateral associated with the award to be used on social media, our website, and email signatures.