Sequoia Financial Group and Eide Bailly LLP have formed a strategic partnership, with Sequoia Financial acquiring Eide Bailly’s wealth management practice and both firms collaborating to deliver expanded services to each other’s clients.
As part of the agreement, Eide Bailly Advisors, LLC, an SEC-registered firm with approximately $1.58 billion in assets under management as of April 30, will become part of Sequoia Financial Group, and Eide Bailly will have an equity investment in Sequoia. The firms expect the transaction to close in the fourth quarter.
Headquartered in Fargo, N.D., Eide Bailly has more than $700 million in annual revenue and more than 3,500 employees in 40 U.S. offices, with a major footprint in the West. Eide Bailly’s wealth management practice serves individuals, trusts, estates, pension and profit-sharing plans, businesses, and charitable organizations.
Through this partnership, Eide Bailly’s wealth management team will join Sequoia