#United States #Wealth Management #Minnesota #Sequoia Financial #All Star Financial

Sequoia Financial Group Acquires All Star Financial

In a notable move to enhance its presence in the Upper Midwest, Sequoia Financial Group, LLC, an SEC-registered wealth management firm, has announced its acquisition of All Star Financial, a well-respected independent wealth management firm based in the Twin Cities. This acquisition, which expands Sequoia's capabilities in tax planning and advisory services, demonstrates the firm's commitment to providing comprehensive wealth management solutions.

As of June 30, 2026, Sequoia Financial reported $34.9 billion in assets under management, signifying its robust standing in the wealth management sector. All Star Financial brings to the table $796 million in assets under management, in addition to managing $566 million in retirement plan assets. The exact terms of the acquisition were not disclosed, but it represents a strategic addition to Sequoia's service portfolio.

Founded in the early 1990s, Sequoia Financial has developed an integrated approach to wealth management, focusing on investment management, tax planning, retirement strategies, estate management, and risk assessment. The firm's client-centered practices have earned it accolades, including being named by Barron's among the top Registered Investment Advisor (RIA) firms in the U.S. for seven years running.

Tom Haught, Sequoia Financial’s chairman and CEO, expressed enthusiasm regarding the acquisition, stating, "All Star Financial has cultivated a disciplined, client-focused business that emphasizes tax strategy. Their values and culture align perfectly with ours, making this acquisition an excellent fit as we look to grow our influence in the Upper Midwest."

This acquisition follows Sequoia's previous purchase of Carlson Capital Management in April 2025, which significantly boosted its market presence. In line with Sequoia’s growth strategy, the firm aims to combine steady organic growth with selective acquisitions. With this latest acquisition, Sequoia Financial is poised to support approximately 11,500 client households across 43 offices in more than 20 states.

Robert Klefsaas, the founder and CEO of All Star Financial, will be integrating his team into Sequoia. He emphasizes that the company is committed to maintaining strong client relationships while enhancing their overall capabilities. "Our clients rely on us for proactive guidance and tax-efficient strategies. Partnering with Sequoia Financial enables us to strengthen these relationships further while expanding the services we offer, helping our clients build, protect, and effectively utilize their wealth," Klefsaas remarked.

The All Star Financial team's tax professionals are set to become part of Sequoia's tax services division, which aims to deliver a holistic approach to wealth management, incorporating efficient tax planning as a core service element. This integrated strategy not only enhances the advisory services available to clients but also solidifies Sequoia’s reputation as a leading player in wealth management.

As Sequoia continues its trajectory of growth to better serve its clients and expand its footprint, the firm remains dedicated to its foundational principles of providing customized, client-centric financial advice that fosters long-term financial security and peace of mind for their clients.

Conclusion
The acquisition of All Star Financial by Sequoia Financial Group marks a significant step in the firm's growth strategy, emphasizing a commitment to delivering enhanced wealth management services. With a strong emphasis on tax planning and client service integration, this acquisition is expected to not only add value to existing client relationships but also attract new clients seeking informed and strategic financial advice. Interested individuals and families looking for comprehensive wealth management solutions can visit Sequoia Financial's website to learn more about their services and how they can assist in achieving financial goals.