Miami-based Corient announced Wednesday that it is acquiring New York-based wealth management firm Summit Trail Advisors in a deal that is expected to close in the current quarter and add over $21 billion in assets (as of March 31).
RIA Summit Trail, founded in 2015, is focused on serving ultra-high net worth individual investors, families and institutions. The firm has been serving as an outsourced family office and Chief Investment Officer (CIO), providing wealth and estate planning, investment management for public and private markets, and family office services, Corient noted.
“The decision by a firm of Summit Trail’s caliber to join Corient serves as meaningful validation of our firm’s quality and the differentiated value of our private partnership structure and business model,” Kurt MacAlpine, Founding Partner and CEO of Corient, said in a news release.
He added, “Summit Trail is an exceptional firm, with exceptional people. With their deep experience in ultra-high-net-worth advisory, the Summit Trail team will be a strong addition to our partnership, extending our expertise and broadening our client relationships across the country.”
Summit Trail was co-founded by Jack Petersen, Managing Partner; Dave Romhilt, Partner and CIO; and Partners and Advisors Tom Palecek, John Scarborough and Peter Lee.
The RIA is now led by its Co-Founders and a team of partners and colleagues operating in Boston; Chicago; Denver; Harrisburg, Pennsylvania; Minneapolis; New York; Newport Beach, California; Portland, Oregon; San Francisco and Seattle.
“Corient was the clear choice for our firm and, most importantly our clients,” according to Petersen.
“What drew us to Corient was its partnership model –the only one of its kind in wealth management – and the collaboration it fosters across the organization,” Petersen said in the news release.
He went on to say, “The culture of shared ownership reinforces the client-first philosophy that has always guided our firm, while giving us access to extensive capabilities, deep resources and global scale to deliver an even better experience to sophisticated clients.”
Once the deal closes, Summit Trail principals will become Corient Partners.
Ardea Partners is serving as exclusive financial advisor and Seward & Kissel as legal counsel to Summit Trail, Corient said.
Goldman Sachs is serving as exclusive financial advisor and Sidley Austin as legal counsel to Corient.
Other recent acquisitions by Corient included New York City-based RIA Seven Bridges Advisors, with $4.9 billion in AUM, announced in July, and Capital Advisors, a Tulsa, Oklahoma-based RIA, with $7.8 billion in AUM, announced in May.
Corient announced seven acquisitions in 2025 and has already surpassed that number this year.
“Corient has announced eight acquisitions so far this year,” a company spokesperson told WSR.
The other acquisitions announced so far this year were Palo Alto Wealth Advisors, in January; Bedrock Group and Vivaldi Capital Management, both in April; and Letus Private Office, in June.
Corient also announced its Canadian expansion in April. In June, Corient completed its acquisitions of U.K.-based advisory firms Stonehage Fleming and Stanhope Capital, announced in September 2025, boosting worldwide assets past $500 billion, the spokesperson said.
Founded in 2020, Corient now has over 300 partners and more than 2,700 employees managing about $556 billion globally on behalf of ultra-high and high net worth individuals, families and businesses, it said.
Jeff Berman, Contributing Editor and Reporter at Wealth Solutions Report, can be reached at jeff.berman@wealthsolutionsreport.com.
