The fast growing US RIA market continues to consolidate, as larger RIAs scoop up smaller ones to add geographical footprint and additional services and client segments.

Yesterday Akron based Sequoia Financial Group announced the acquisition of AltruVista in Houston.

Sequoia was founded in 1991 and services individuals to family offices, while AltruVista specializes in HNW business owners and families.

Tom Haught, founder and CEO for Sequoia said „the foundation for this partnership is based on a long-standing relationship with Ali (Nasser).“

With the new Houston location, Sequoia now approaches $20 billion in AUM and has 14 offices in eight states. Sequoia last year acquired Zeke Capital Adivsors, Cirrus Wealth Management, Affinia Financial Group and M Capital Advisors.

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