M and A
Deals Of The Day: The Latest In Wealth Management M&A – SageView, Summit
The latest corporate deals, transactions and acquisitions in the North American wealth management industry.
SageView, Summit
SageView
Advisory Group, a US-registered investment advisor, has
completed its purchase of Summit Financial Consultants. The
original agreement to buy the firm, which has $321 million in
AuM, was announced in June.
Neil Elmouchi founded Summit in 1985 as a retirement and
comprehensive financial planning firm.
The Summit deal is the sixth purchase that SageView has completed
since July 2021 as part of its M&A growth strategy. SageView,
which established a partnership with leading financial services
and technology-focused private equity firm Aquiline Capital
Partners in January 2021, has more than $170 billion in
retirement plan assets.
SkyView served as the exclusive financial advisor to Summit
Financial Consultants.
