"The private client business and retirement plan business are similar, but different. They require different investments in technology and investment platforms and compliance," Haught said. "In our back office, which includes compliance, tech, finance … it became increasingly difficult to service both. From our standpoint, we see this sale to CBIZ benefiting employees and clients and allowing the private client business to continue to reinvest and focus on what they're best at." The sale isn't directly connected to Sequoia's acquisition of LJPR Financial Advisors of Troy, Mich., in August. The hard close on that deal, which adds 25 employees and $771 million in managed assets to Sequoia plus a second Michigan office, is Jan. 1, 2019. That stock-for-stock deal included an undisclosed sum of cash and grows Sequoia's portfolio to $4.9 billion and staff to 91 people. For CBIZ, the SIS deal is the latest to build on its growth strategy, which includes a heavy focus on acquisitions.