Sequoia Financial Group, a wealth manager based in Akron, Ohio, with more than $15 billion in assets under management, has agreed to acquire M Capital Advisors of Nashville, Tenn.

M Capital, which nas about $930 million under management and also has an office in San Antonio, has been providing customized portfolio management services to individuals and institutions for more than 30 years, according to a press release.

Sequoia said it hopes to close on the acquisition by the end of the month. Financial terms of the deal were not disclosed.

"M Capital has demonstrated its investment acumen on behalf of clients for decades, and its exceptional investment management capabilities will further strengthen ours," said Tom Haught, founder and CEO of Sequoia. "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."

M Capital serves high-net-worth individuals, families, and institutions and employs a team of 13 professionals, the press release said. The firm is led by founder and Chairman Frank Mastrapasqua. The staff also includes CEO Mauro Mastrapasqua, Chief Portfolio Strategist Edwin Barton, Chief Investment Officer Patrick Snell and Claude Koontz, principal and portfolio manager.

"Becoming part of Sequoia Financial will provide M Capital clients with broader and more tailored wealth management solutions, especially in the high and ultra high net worth areas, supported by Sequoia's extensive operational, technological, and financial resources," Frank Mastrapasqua said in a prepared statement.

This will be Sequoia fourth acquisition this year, the press release said, adding that the M Capital team will increase Sequoia's staff to 250 people.

Founded in 1991, Akron, Ohio-based Sequoia provides asset management and wealth planning services across the wealth continuum—from individuals to family offices—with locations throughout the U.S.