Advisory M&A

Sequoia Financial Group Announces Acquisition of Zeke Capital Advisors

Sequoia Financial Group’s acquisition of Zeke Capital Advisors is expected to close on February 28. The transaction will create a firm with more than $15 billion in client assets.

The size of Sequoia’s Family Wealth practice is expected to double, both by assets under management and by client households. The combined team offers a full suite of services to ultra-high-net-worth families and institutions.

“We are excited to partner with Ed Antoian, Gee Smith and their talented team,” said Thomas Haught, Sequoia’s CEO, in a statement. “Together, we will broaden and deepen Sequoia’s Family Wealth practice, add to our full-service team of Family Wealth advisors, and enhance the range of our investment offerings as we expand our role within this strategic market.”

Founded in 2008 in Berwyn, Pennsylvania, Zeke is a multi-family office firm that provides generational family wealth management. Zeke has more than $5 billion in assets and 28 employees.

“After a thorough search for the right partner, Sequoia emerged as the ideal firm to support Zeke’s mission of serving multi-generational families,” said Edward Antoian, founder of Zeke. “Joining Sequoia’s successful Family Wealth practice will help ensure our clients will be in great hands for generations to come.” 

iTrustCapital to Integrate with Fortress Trust

Self-directed IRA platform iTrustCapital Inc. announced its integration with Summerlin, Nevada-based Fortress Trust LLC, a subsidiary of Fortress Blockchain Technologies, and specializes in the custody of alternative assets.

The integration aims to improve client onboarding processes and streamline the account-opening experience. Irvine, California-based iTrustCapital also intends to improve user experience, transparency and client security in its self-directed IRA investment options.

A benefit of the integration includes the availability of alternative assets including cryptocurrencies, precious metals, fractional real estate, private equity and interest-earning cash sweeps on FBO client USD positions. Furthermore, clients of iTrustCapital can set up recurring contributions and dollar-cost averaging, expected in the second quarter of this year.

“The integration with Fortress Trust will provide iTrustCapital clients with increased benefits, making it easier and more convenient for working professionals to plan their retirement journey, with improved security and compliance features that we believe will set a precedent for the industry,” said Kevin Maloney, CEO of iTrustCapital, in a release.

Hightower Announces Strategic Investment in Bickling Financial Services

Hightower Advisors LLC has made a strategic investment in Lexington, Massachusetts-based Bickling Financial Services Inc., an RIA with approximately $625 million in assets under management. Founded in 1984 by Dorothy Bickling, the firm is now managed by her sons, Spencer Betts and Andrew Betts, co-managing principals of BFS.

“To continue achieving our growth goals, we knew we needed a strategic partner that could help us scale the business and invest in its future,” Spencer Betts said in a statement. “After speaking with several options in the marketplace, we concluded that Hightower has the right combination of resources and value-added services that will allow us to both serve clients and take the business to new heights.”

With 14 employees, including five advisers, BFS has strong ties to communities in New England and throughout the Northeast. The firm has served mostly affluent and high-net-worth client households.

Dynasty Financial Partners to acquire TruClarity Management Solutions

Dynasty Financial Partners has entered an exclusive non-binding letter of intent to acquire TruClarity Management Solutions LLC.

St. Petersburg, Florida-based Dynasty intends to acquire TruClarity’s intellectual property and add select team members, including Pamela Stross, president and CEO of TruClarity, which is also based in St. Petersburg, Florida. Stross is expected to join Dynasty as a consultant and will advocate for female advisers in the RIA space.

“I am excited for the opportunity to partner with the amazing team at Dynasty Financial Partners,” Stross said in a statement. “They have been leaders in wealth technology, platform services, capital, and business practice management offerings in the RIA space for over 12 years now. I look forward to working with them to continue to help power the independent movement, and in particular, to help inspire more female advisors to find their way to the independent side of our business.”

Basepoint Tax & Accounting Names Ron Detweiler President, Acquires Ledger Plus

Basepoint Tax & Accounting LLC, a subsidiary company of Basepoint Wealth, recently named Ron Detweiler president. The firm will also expand operations in Cedar Rapids, Iowa, with the acquisition of Ledger Plus, which has provided accounting services to individuals and businesses in the region.

Detweiler has more than 40 years of experience providing financial advisory client services, including retirement planning. After starting his career at a CPA firm, Detweiler later joined corporate H&R Block in 2005. In 2012, Ron and his firm, Detweiler & Associates, joined Honkamp Krueger as part of the Hiawatha branch.

“Ron adds an incrediRble boost to both our intellectual capital and our ability to deliver seamless, coordinated tax advice to our clients,” said Kate Wallace, president of Basepoint Wealth, in a statement. “Ron is one of the hardest workers I have ever had the opportunity to lead, and his genuine care for delivering on promises to clients is unmatched. We are honored to have him join our team.”