Sequoia Financial to Acquire $3.8B Carlson Capital

Sequoia Financial Group announced that it has agreed to acquire $3.8B Northfield, MN-based RIA Carlson Capital Management in a deal expected to close on March 31.

Founded in 1987, CCM is an integrated wealth management and fiduciary firm that serves high-net-worth individuals and families in Minneapolis and St. Paul. Upon completion of the deal, CCM founders Gregory and Jeffrey Carlson will become senior strategic advisors while CEO Justin Stets will assume the role of executive vice president of integrated wealth, directly reporting to Sequoia CEO Tom Haught. The transaction includes CCM’s 80 team members, 30 of which are financial advisors.

The acquisition is Sequoia’s largest to date in terms of number of employees and advisors. CCM provides the firm with access to the greater Minnesota market as Sequoia continues to expand its national footprint, most recently acquiring Eide Bailey’s wealth management business on the West Coast early last month. The firm now has 34 offices in 19 states and manages $22.6B in client assets. 

New call-to-action

Written By: Dakota

logo-1

The Database For Cold Outreach to Reach Institutional and RIA Investors