Sequoia to create $15bn wealth supervisor with Zeke buy

Sequoia to create bn wealth supervisor with Zeke buy

Sequoia to create $15bn wealth supervisor with Zeke buy

Sequoia Monetary Group, a wealth administration providers supplier, has reached a deal to buy US-based Zeke Capital Advisors for an undisclosed sum.

Established in 2008, Zeke is a multi-family workplace firm that gives people, households, and foundations with generational household wealth administration options.

With headquarters in Berwyn, Pennsylvania, the corporate was based by fund supervisor Edward Antoian.

Antoian and Gee Smith are presently serving as accomplice and president, respectively, on the agency.

Zeke is claimed to have over $5bn in property beneath administration and advisement, with a crew of 28 individuals.

The deliberate acquisition will create an entity with over $15bn in shopper property.

It should double the dimensions of Sequoia’s household wealth enterprise each by way of property beneath administration and shopper base.

The consolidated entity will provide a wide selection of providers to ultra-high-net-worth households and organisations.

Following the completion of the deal, Zeke will begin functioning beneath the model identify of Sequoia Monetary Group from 1 March this 12 months. Each Antoian and Smith will proceed their affiliation with the corporate.

Sequoia CEO Tom Haught stated: “We’re excited to accomplice with Ed Antoian, Gee Smith, and their gifted crew.

“Collectively, we are going to broaden and deepen Sequoia’s Household Wealth follow, add to our full-service crew of Household Wealth advisors, and improve the vary of our funding choices as we develop our position inside this strategic market.”

Based mostly in Akron, Ohio, Sequoia presently handles over $10bn in property and has a workforce of over 180 individuals.

In November 2021, Sequoia introduced a deal to purchase Ohio-based NCA Monetary Planners (NCA).