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Sequoia Monetary Group, an Akron, Ohio-headquartered registered funding advisor with greater than $15 billion in property below administration, has launched a household workplace division, Sequoia Sentinel, to offer extra specialised companies to its ultra-high-net-worth purchasers. Sentinel represents about 55% of the agency’s property and serves purchasers with a minimal of $20 million.
The brand new division will probably be led by Annie McCauley, government vp and chief consumer expertise officer at Sequoia, and it encompasses 20 advisors specializing in the UHNW area. These advisors will work collaboratively to offer complete companies to this clientele.
Sequoia, which was based in 1991, has a protracted historical past of serving entrepreneurial purchasers all through the lifecycle of their wealth. About 15 years in the past, the agency began to see a variety of these entrepreneurial purchasers have monetization occasions that led to vital web price, McCauley mentioned. So at the moment, the agency began to phase its purchasers and advisors by web price.
That base of purchasers began to construct, as did the agency’s planning- and investment-dedicated assets within the UHNW area. The agency’s acquisitions of Wealthstone Advisors in 2021, multifamily workplace Zeke Capital Advisors in February 2023 and M Capital Advisors final month added to that, she mentioned.
Sequoia Sentinel will present multi-generational property planning, in addition to funding capabilities aimed on the ultra-wealthy.
“The entire world of investments is a very totally different panorama for ultra-high-net-worth purchasers, not simply accredited buyers however certified purchasers,” McCauley mentioned. “And the expectations, the demand that they’ve for different investing, for serving to them consider personal offers that they supply, or sourcing and introducing personal offers to them. We actually wanted to construct that workforce.”
The Zeke acquisition added a “extremely credentialed” analysis workforce and many years of expertise in direct personal investments, personal credit score and personal actual property.
“As we’ve grown and scaled, whether or not it’s by the Wealthstone acquisition, by the M Capital acquisition, by the Zeke acquisition, or by the numerous natural development fee that we’ve had on this area, our workforce has been in a position to specialize and area of interest down extra,” McCauley mentioned.
After finishing a handful of smaller acquisitions, Sequoia obtained its first minority funding from Kudu Funding Administration in 2020 and adopted up with two massive offers that added round $4 billion in property the following 12 months. Final October, the agency secured its second minority funding, from Valeas Capital, a San Francisco-based personal fairness agency that dedicated greater than $200 million in capital. Since 2009, the RIA has carried out 11 offers.
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