Sequoia Financial Acquires Karpas Strategies

Sequoia Financial Group has made its second acquisition of the year by purchasing Karpas Strategies, a firm focused on ultra-high net worth clients. Karpas Strategies, which manages approximately $420 million for 48 clients, is notable for having over two-thirds of its assets owned by women. The financial terms of the deal, which closed on July 31, were not disclosed.

Founded in 1994 by Matthew Karpas, the firm also includes corporate strategy and business development manager Zachary Chernus and client services specialist Liz Faraj, all of whom will join Sequoia. Karpas Strategies will integrate into Sequoia's family office division, Sequoia Sentinel. This acquisition marks Sequoia's second RIA deal of 2024 and its sixth since 2023. Sequoia now operates 15 offices across nine states, with Karpas' Connecticut location becoming its second in New England. With this acquisition, Sequoia manages over $19.3 billion in total client assets. Sequoia's strategic growth continues to strengthen its presence in the investment management sector.