Akron-based Sequoia Financial Group, a wealth manager with more than $19.3 billion in assets under management, has acquired Litchfield, Conn.-based Karpas Strategies, an independent investment manager serving ultra-high-net-worth families, foundations and trusts.
Karpas, which managing more than $420 million for its clients, will become part of Sequoia Financial’s Sequoia Sentinel Family Office.
Akron, Ohio-based Sequoia Financial offers services to clients across the wealth continuum. Sequoia Financial has been serving high net worth individuals and families since 1991 and launched Sequoia Sentinel in 2023 to expand its family office services. These tailored services include asset management, tax management, wealth transfer, asset transactions, and charitable planning to meet the challenges inherent to generational wealth.
"We are thrilled to welcome Karpas Strategies to the Sequoia Financial team," said Sequoia CEO Tom Haught said in a statement. "With its 30-year history of excellence in client service and multi-generational relationships, Karpas Strategies embodies our shared values. Together, we look forward to continuing its legacy of outstanding service and strengthening the bonds nurtured over generations."
The new Connecticut location is Sequoia Financial's second in New England. The firm now has 15 offices in nine states.
Cleveland-based Benesch, Friedlander, Coplan & Aronoff served as legal advisor to Sequoia Financial. Bell, Nunnally & Martin served as legal advisor to Karpas Strategies. DeVoe & Company served as Karpas Strategies' financial advisor.
