Sequoia Financial to Buy $930 Million Nashville Advisor Firm

“M Capital has demonstrated its investment acumen on behalf of clients for decades, and its exceptional investment management capabilities will further strengthen ours,” Haught says. “The leadership team at M Capital shares our commitment to providing service offerings that are built expressly for clients, and we look forward to doing just that as we join forces.”

In addition to the Nashville headquarters, M Capital operates an office in San Antonio.

Acquisitions have emerged as a centerpiece of Sequoia’s plans to grow the firm, which manages more than $15 billion in client assets and is ranked No. 41 on the Barron’s list of top RIA firms this year.

Based in Akron, Ohio, Sequoia sold a $200 million stake to the private-equity firm Valeas Capital Partners a year ago. At the time, Haught indicated that Sequoia would use some of that capital to fund more purchases of other advisor firms, continuing the run of acquisitions Sequoia had embarked on in 2009.

Earlier this year, Sequoia made a major acquisition with the purchase of Zeke Capital, which had $6.2 billion in assets. It has completed two other smaller acquisitions in 2023, so the deal to buy M Capital, expected to close Oct. 31, will make four for the year. Sequoia says it will employ 250 people with the addition of the M Capital team.

Frank Mastrapasqua, M Capital’s founder and chairman, says the move to join forces with a large RIA will expand its investment offerings while providing significant back-office support.

“Becoming part of Sequoia Financial will provide M Capital clients with broader and more tailored wealth management solutions, especially in the high and ultrahigh net worth areas, supported by Sequoia’s extensive operational, technological, and financial resources,” Mastrapasqua says.

The firms expect the deal to close by Oct. 31, Sequoia says.