NEW YORK--(BUSINESS WIRE)--Summit Trail Advisors is pleased to announce that an 11-person financial planning team has joined Summit Trail Advisors at their headquarters in New York City. The new team consists of four advisors and seven financial planning professionals. The team, which is led by Alex Shapses, is joining Summit Trail from Heritage Strategies LLC.
“We are able to leverage the collective intelligence generated by working with some of the largest families in the country, along with their top-tier law and accounting firms, to bring best-in-breed techniques to the clients of Summit Trail,” said Mr. Shapses. “It was clear to us that advisors at Summit Trail understand ultra-affluent families and the complexities they face. Summit Trail has aligned objectives putting the client first and delivering a small firm feel with large firm resources.”
The new team works with an average client size of approximately $150 million in net worth, concentrated in the Northeast, Colorado and Florida. Many wealthy families often lack a process when it comes to keeping their ever-changing lives within the guardrails of a dynamic planning strategy. The team takes ownership of these areas, allowing their clients to focus on their passions which are typically their business, family, and philanthropy. Families range from multi-generational real estate families and private equity and hedge fund executives to business owners and single-family offices looking for increased expertise, bandwidth, and support.
“We are proud to welcome Alex and the team to Summit Trail Advisors. They offer a highly differentiated financial planning capability that will enhance our clients’ experience,” said Jack Petersen, Managing Partner of Summit Trail Advisors. “This expansion represents an important step toward delivering the full suite of family office services that many of our families have been seeking. Our most important partnership is that which we maintain with our clients. This move is evidence of our ongoing commitment to delivering the specialized resources our clients demand. Summit Trail Advisors is proud to serve as our clients’ outsourced family office dealing with investments, tax, structuring, and organization. Our combined skills allow us to offer family office capabilities unparalleled in the current market.
Summit Trail Advisors currently has over $12 billion of AUM. With the backing of Dynasty Financial Partners, Summit Trail has built out a powerful technology and reporting infrastructure.
Summit Trail Advisors currently has offices in Boston, Chicago, Harrisburg, PA, New York, San Francisco and Seattle.
Alex Shapses, Partner, Summit Trail Advisors
Prior to joining Summit Trail, Mr. Shapses was a Partner at Heritage Strategies, an estate planning multi-family office, since 2014. Prior to that, he worked at Further Lane Asset Management and co-founded Dearborn Capital Partners. He earned a BA in Finance and Organization Management from the Gouizeta Business School at Emory University in Atlanta, Georgia. He received his CFP designation and maintains Life and Health Insurance, Property and Casualty Insurance, Life Settlement Broker licenses and a Series 7 license.
About Summit Trail Advisors
Summit Trail Advisors is a leading Networked Family Office with offices in New York, Chicago, San Francisco, Boston, Seattle, and Harrisburg, PA. Founded in 2015, the firm serves as the outsourced family office and CIO for ultra-high net worth individuals, family offices, and non- profit entities, intentionally leveraging the power of its network for the benefit of its clients. It is a large institutional client of the street and sources differentiated investment opportunities, credit solutions, and other professional services for its clients on a completely open architecture basis, using its scale to drive pricing power for clients and to attract the industry’s top talent. For more information, please visit http://summittrail.com.
