Sequoia Financial Group has extended its reach to Colorado with the acquisition of BSW Wealth Partners, a $2.3 billion independent wealth management firm with offices in Boulder and Denver.
The financial terms of the transaction were not disclosed. BSW will operate under the Sequoia Financial brand, according to a news release.
Founded in 1992, BSW caters to individuals and families nationally, providing financial planning and customized wealth management.
“The incredible alignment of BSW’s ethos to ‘Make Life Better’ and Sequoia’s vision of ‘Enriching Lives’ also extended across our firms’ cultures, clients, and capabilities,” David Wolf, CEO of BSW, said in a statement. “United, we can better serve families for generations, create exciting career opportunities for our team, and broaden our impact in Boulder, Denver, and throughout the Mountain West.”
“We highly value the bonds BSW has built with clients over the decades and the culture of its talented team,” said Sequoia Financial Chairman and CEO Tom Haught.
BSW is the second billion-dollar deal for Akron, Ohio-based Sequoia Financial in the past few weeks. In August, the firm acquired All Star Financial, a Twin Cities-based wealth manager with $1.3 billion in client assets under management and advisement as of the end of June 30.
Sequoia Financial supports about 11,000 client households from 43 offices, with clients in all 50 states and the District of Columbia. It oversees $34.9 billion in AUM.