The latest mergers, acquisitions and other corporate actions in the wealth management sector.

Sequoia Financial Group
Sequoia Financial Group, an RIA with $34.9 billion in assets under management as of June 30, has acquired All Star Financial, a Twin Cities-based independent wealth management firm which had $796 million in AuM as at the end of June. 

The acquired business also had $566 million in retirement plan assets under advisement. 

The terms of the transaction were not disclosed.

All Star Financial’s 14 team members will be joining Sequoia Financial, adding in-house tax professionals and expanding overall advisory capabilities, Sequoia said in a statement. Robert Klefsaas, founder and CEO of All Star Financial, will also be joining Sequoia Financial along with his team and will remain actively involved in client service and integration.

This is not the first time Sequoia, founded in 1991, has bought a business in the Twin Cities market. In April 2025, it bought Carlson Capital Management, which had more than $3.8 billion in client assets as of March 31, 2025. 

All Star Financial's tax professionals will become part of Sequoia Financial's commonly held entity, Sequoia Tax Services, which delivers wealth management services including tax planning.

Faegre Drinker served as legal advisor to All Star Financial.

Summit
Summit Financial has added two independent advisory firms, Kamal Capital Group and M Group Investment Advisor, to its national platform. 

Together, the firms bring about $520 million in client assets. They will establish Summit’s first presence in Georgia and Oregon and expand its footprint in Michigan, Florida, and Washington.

Kamal Capital Group was founded in 1984 and led by Danny Kamal and Rob Kamal. It built its practice around retirement planning for airline pilots before serving aviation professionals, corporate executives, and multigenerational families; it now offers family office-level services, still focusing on the aviation sector. 

M Group Investment Advisor, headquartered in Florida with offices in Oregon and Washington, serves non-union construction companies that work on government projects. 

Ameriprise Financial, Steinmetz Jackson Wealth Management Group
Steinmetz Jackson Wealth Management Group, a private wealth advisory practice, has joined the branch channel of Ameriprise Financial from Janney Montgomery Scott, taking over more than $370 million in client assets.

The practice, located in Fort Lauderdale, Florida, is led by private wealth advisor Kenneth Steinmetz and financial advisor James Jackson. It includes registered client service associate Daniel Tila-Cohen and client service coordinator Stephanie Elie.

Steinmetz Jackson Wealth Management Group is supported locally by Ameriprise branch manager Dan Landrau, Ameriprise complex director Michael Rearden and Ameriprise regional vice president Jamie Frisone.

Savvy Advisors
Savvy Advisors, an RIA, has added Blue Barn Wealth and Paragon Private Wealth Management to its network. The firms bring about $550 million in combined assets under management.

So far in 2026, Savvy has brought on more than $4 billion in recruited assets and holds more than $8 billion in total AuM, rising by four times on a year before.

Orem, Utah-headquartered Blue Barn Wealth has $300 million in AuM; it serves more than 220 client households and multiple 401k plans in the US and overseas.

Based in Franklin, Tennessee, Paragon manages about $250 million in assets and serves affluent individuals, families and entrepreneurs nationwide. Founded by Allen Buckley, the firm mainly works with business owners and professionals, including attorneys, physicians, dentists and other practice owners.