RIA firms announce deals to expand their growing footprints.
Two wealth management firms with a combined AUM of around $32 billion have announced deals to expand their reach.
Ohio headquartered RIA Sequoia Financial Group, which serves more than 11,000 clients across all 50 states and DC, managing more than $27 billion, has agreed a deal to acquire The Martin Worley Group in Cottonwood Heights, Utah.
MWG was founded in 2008 and has a team of eight managing approximately $430 million in assets, led by managing partner Brian Worley alongside partners, Terra Thurgood and Barry Watson. All three will become equity owners in Sequoia Financial and the team will all join the firm after the transaction closes, expected to be at the end of this month.
Private equity backed Sequoia has seen some solid growth in recent months, including the addition of Carlson Capital Management with $3.8 billion AUM in January and Family Asset Management with $300 million AUM late last year.
Meridian Wealth Management
Meanwhile, $4.2 billion AUM firm Meridian Wealth Management has announced a partnership with global firm Merchant, which invests in financial services firms and provides strategic resources and support alongside capital.
The strategic partnership will support expansion of the rapidly growing RIA which has nine offices across the US and was founded in 2010 by Greg Couch.
Its current growth period ignited in 2022 and has seen the Kentucky based firm more than double its AUM in recent years, adding two offices and 20 advisors along the way.
“Our partnership with Meridian reflects Merchant’s belief in backing firms that combine strategic clarity with a deep sense of purpose,” said Tim Bello, co-Founder and managing partner at Merchant. “Greg and his team have built an exceptional business—grounded in trust, independence, and true client alignment. We’re excited to support their continued growth, expand their national reach and help bring their vision to more advisors and families across the country.”
