NEW YORK & LAFAYETTE, La.--(BUSINESS WIRE)--Focus Financial Partners, LLC, the largest partnership of independent wealth management firms, today announced that Summit Financial, an independent RIA based in Lafayette, Louisiana, has joined the Focus partnership as of April 1. With approximately $600 million in client assets, Summit provides investment and wealth management services to clients in Louisiana and the surrounding areas. Focus has completed nine transactions in 2014.
“Summit’s client-centric service model and entrepreneurial spirit make them a natural addition to our partnership,” said Rudy Adolf, founder and CEO of Focus. “Focus has successfully supported more than 40 mergers for our partner firms and we plan to do the same for Summit as they look to acquire new talent to further establish a regional presence in the Southeast.”
Summit Financial was founded in 2003 by Fred Werner and David Daniel, both former Legg Mason advisors who have worked together for more than 15 years. In addition to Messrs. Werner and Daniel, Todd Lambert and Michael Pharr are partners in the firm. Summit uses five unique investment strategies focused on growth, equity income, and balanced income portfolios to manage assets for high-net-worth individuals and foundations. Summit was previously affiliated with Wells Fargo Advisors Financial Network for nearly eight years.
“Our decision to join Focus was influenced by the depth and quality of the partnership, as well as their capabilities and resources in satisfying specific growth objectives,” said David Daniel, managing partner at Summit. “As a partner firm, Focus provides us with the capital and deal expertise to grow through strategic acquisitions, while still allowing us to maintain focus on our clients. We are excited to expand our reach through the addition of other like-minded broker teams and independent firms.”
Summit has eight total employees and four advisors, who bring more than 180 years of combined investment and wealth management experience to their client base. The team has been named several times to Barron’s Top Advisor’s lists.
About Focus Financial Partners
Founded in 2006, Focus Financial Partners, LLC, is the leading international partnership of independent, fiduciary wealth management firms. With more than $70 billion in total client assets, Focus provides unrivaled access to best practices, resources, and continuity planning for its partner firms who serve individuals, families, employers and institutions with wealth management, benefit and investment consulting services. Focus partner firms maintain their entrepreneurial independence, while they benefit from the synergies, scale, economics and best practices of the market leader to achieve their business objectives. Focus was included on Inc. magazine’s 5000 ranking of the nation’s fastest-growing private companies in 2011 and 2010. In 2012, Focus was named a Crain’s New York Business “Fast 50” growth firm in New York City. For more information, please visit www.focusfinancialpartners.com.
About Summit Financial
Based in Lafayette, Louisiana, Summit Financial manages approximately $600 million in client assets. Former Legg Mason advisors, Fred Werner and David Daniel, formed Summit in 2003. The firm provides investment management and wealth management services to high-net-worth clients. For more information, please visit www.summit-financial.com.