Sequoia Financial Group to Acquire Affinia Financial Group, Wealth Manager Offering Specialized Planning Services to Families with Special Needs

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Aug 14, 2023, 09:28 ET

AKRON, Ohio, Aug. 14, 2023 /PRNewswire/ -- Sequoia Financial Group, LLC (Sequoia), a leading SEC-registered wealth manager with nearly $16 billion in assets under management as of July 31, 2023, today announced it has entered into an agreement to acquire Affinia Financial Group, LLC (Affinia), a wealth manager offering a specialty practice dedicated to special needs financial planning. The firms expect the transaction to close this month. Financial terms were not disclosed.

Founded in 1991, Akron, Ohio-based Sequoia provides asset management and wealth planning services across the wealth continuum—from individuals to family offices—with locations throughout the United States.

Affinia, based in Burlington, Mass., is an SEC-registered firm with $418 million in assets under management as of Aug. 10, 2023. Its clients are high net worth individuals, families, trusts, and estates. Formed in 2019, Affinia employs a team of 10 professionals. The firm's co-founders and managing partners, John Nadworny, CFP® and Cynthia Haddad, CFP®, ChSNC®, are veteran financial planning specialists and co-authors of The Special Needs Planning Guide: How to Prepare for Every Stage of Your Child's Life.

More than half of the households Affinia works with are served by the firm's special needs practice group. Nationwide, one in four Americans is living with a disability, according to the Centers for Disease Control and Prevention.

"We look for partners that are making a meaningful impact within specific communities and share our passion for client service, philosophy, and values," said Tom Haught, founder and CEO of Sequoia. "Affinia's work with families who have members with special needs is an important addition to our firm. It supports Sequoia's 'built for you' strategy, which equips our advisors with the resources they need to have a deep and personal effect on our clients' lives."

"We are thrilled to become part of the Sequoia team," said Nadworny, Affinia's CEO. "Affinia clients and employees will benefit from Sequoia's operational expertise, technology leadership, and network of advisors to help us expand our service and special needs planning mission from coast to coast."

Upon completion of the transaction, Affinia's clients will have access to a broader range of investment opportunities, including private market investments, and support from Sequoia's dedicated wealth planning team.

Sequoia has grown organically and through acquisitions to expand its services and its geographic footprint. Sequoia was named by Barron's as one of the top RIA firms in the U.S. in 2022 for the fourth consecutive year. The firm now employs more than 200 people.

Benesch, Friedlander, Coplan & Aronoff LLP served as legal advisor to Sequoia. Republic Capital Group and Meltzer, Purtill & Stelle, LLC served as financial and legal advisors, respectively, to Affinia.

About Affinia Financial Group
Based in Burlington, Mass., Affinia is an SEC-registered firm managing approximately $418 million in assets as of Aug. 10, 2023, and serving high net worth individuals, families, trusts, estates, and retirement plans. Formed in 2019, Affinia employs a team of 10 professionals and offers a world-class, pioneering practice group in special needs financial planning. For more information, visit www.affiniafg.com.

About Sequoia Financial Group
Sequoia Financial Group, LLC, founded in 1991, takes a client-centered approach to providing wealth management services, including asset management, estate and retirement planning, fiduciary consulting, and family wealth. Sequoia builds and maintains strong relationships that emphasize long-term planning to help clients reach their financial and life goals. Sequoia was named by Barron's as one of the top RIA firms in the U.S. in 2022 for the fourth consecutive year. The firm had nearly $16 billion in assets under management as of July 31, 2023. For more information, visit www.sequoia-financial,com.

Investment advisory services offered through Sequoia Financial Advisors, LLC, an SEC Registered Investment Advisor. Registration as an investment advisor does not imply a certain level of skill or training.

Barron's weighs dozens of qualitative and quantitative components, including assets managed, the size and experience of teams, regulatory record of the advisors and firms, succession planning, technology spending, and staff diversity. No fees in any years awarded were paid or incurred to receive this recognition. $8,500 was spent in 2021, $0 in 2020, and $17,240 in 2019 for marketing collateral associated with the award to be used on social media, our website, and email signatures. This award is not representative of any one client's experience and is not indicative of our firm's future performance. This award was independently granted as Sequoia is a separate company from Barron's. Sequoia applied to be considered for the recognition. Please note this award is not a referral to, endorsement or recommendation of, or testimonial for the advisor with respect to its investment advisory or other services.

SOURCE Sequoia Financial Group, LLC