Akron, Ohio-based wealth manager Sequoia Financial Group LLC has announced that it has reached an agreement to acquire the Martin Worley Group, a wealth manager based in Cottonwood Heights.
Martin Worley provides personalized investment advisory services to individuals, multi-generational families, entrepreneurs, foundations and trusts. The firm, established in 2008 and SEC-registered since 2014, has a team of eight and had $430 million in assets under management as of June 30.
Sequoia is also SEC-registered with $27.6 billion in assets under management as of June 30. The firm serves more than 11,000 client households in all 50 states and the District of Columbia from 32 offices nationwide. The firm employs more than 400 people.
“We were looking for a firm with a shared commitment to cultivating and sustaining deep client relationships to bring additional investment depth, planning resources and technology to our practice,” said Brian Worley, Martin Worley’s managing partner. “The motivation behind this integration of our two firms is to ensure continuity of service to our clients well into the future. Sequoia Financial is an ideal partner, with a nationwide presence, a dedicated and talented team, broad capabilities and happy clients.”
Worley and his partners, Terra Thurgood and Barry Watson, will become equity owners in Sequoia Financial. All MWG colleagues will join the Sequoia Financial team after the transaction closes, which was expected to occur on Aug. 31.
“Brian, Terra, Barry and the entire team at the Martin Worley Group have built a strong business, and we’re excited to combine our resources as we further expand Sequoia’s national footprint,” said Tom Haught, founder and CEO of Sequoia Financial.