Sequoia Financial Group Acquires All Star Financial to Expand Midwest Presence
Sequoia Financial Group, LLC has acquired All Star Financial, a Twin Cities-based wealth management firm with $796 million in assets under management and an additional $566 million in retirement plan assets. The acquisition expands Sequoia's presence in the Upper Midwest while enhancing its tax planning capabilities through the addition of 14 team members from All Star Financial. This move aligns with Sequoia’s strategy to combine organic growth with strategic acquisitions, extending their national reach and adding specialized expertise. In April 2025, they acquired Carlson Capital Management for $3.8 billion in client assets. Robert Klefsaas, founder of All Star Financial, will remain involved in client service under the new partnership. The integration is expected to strengthen Sequoia’s integrated wealth management experience through its tax planning arm, Sequoia Tax Services. The firm now supports approximately 11,500 households from offices across more than 20 states.
Topics: Mergers and acquisitions Tax strategy Wealth management