The latest corporate deals, transactions and acquisitions in the North American wealth management industry.
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.