Sequoia Financial Group acquires Boulder’s BSW Wealth Partners

BOULDER — BSW Wealth Partners Inc., a Boulder-based wealth-management firm with $2.3 billion in client assets, has been acquired by Sequoia Financial Group LLC, an Ohio-based wealth-management company.

Terms of the deal were not disclosed.

Founded in 1982, BSW operates from offices in Boulder and Denver, providing financial planning and customized wealth management to individuals and families nationally. BSW will operate under the Sequoia Financial brand after the acquisition.

Sequoia, based in Akron, was founded in 1991 and has $34.9 billion in assets under management. The company operates a Colorado office at 7001 E. Belleview Ave. in Denver.

“We highly value the bonds BSW has built with clients over the decades and the culture of its talented team,” Tom Haught, chairman and CEO of Sequoia Financial, said in a written statement. “We are pleased to welcome them to the Sequoia Financial family as we expand our presence in Colorado.”

BSW CEO David Wolf, said the two firms have similar cultures and approaches to serving clients. “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,” Wolf said.

BSW clients will gain access to Sequoia’s broader wealth-management platform, including tax, estate and special-needs financial planning; family-office services; and investment offerings.

In August, Sequoia acquired All Star Financial, a Twin Cities-based wealth manager with $1.3 billion in client assets under management.

Sequoia said the acquisitions reflect its strategy of “steady organic growth with selective acquisitions that extend its national reach and add specialized capabilities.” The company now serves about 11,000 client households from 43 offices, with clients in all 50 states and the District of Columbia.

Warner Norcross + Judd LLP served as BSW’s legal adviser, while Hue Partners provided consulting and strategic guidance.

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