Summit Wealth Strategies to operate under Arax Advisory Partners
Arax Investment Partners (“Arax”), a premier wealth and asset management platform company backed by RedBird Capital Partners (“RedBird”), announced that it has acquired Summit Wealth Strategies (“Summit”), a boutique registered investment advisor (“RIA”) headquartered in Chesterfield, MO with $1 billion in assets under management (“AUM”). Financial terms of the transaction were not disclosed.
This deal continues the expansion of Arax’s differentiated wealth management and advisory platform, reinforcing the firm’s presence in the Midwest through a strategic partnership with another leading RIA. Summit has built a reputation for delivering deeply personalized, multigenerational financial planning to individuals, families and business owners. The firm’s high-touch, relationship-driven approach aligns with Arax’s philosophy of empowering advisory firms to remain client-focused, while providing the infrastructure, scale and resources needed to enhance the client experience and free up more time for what matters most: deepening relationships and delivering exceptional advice.
Summit will join Arax Advisory Partners (“AAP”), Arax’s platform uniting independent firms that prioritize sophisticated planning strategies alongside investment advice for high-net-worth families, individuals and institutions.
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“We’re excited to join Arax, not only as advisors focused on expanding our business but as partners committed to elevating the experience we deliver to our clients,” said Michael Ott, Brent Spicuzza, and Pete Donovan, Managing Partners and Senior Financial Consultants at Summit Wealth Strategies. “At Summit, our mission has always been to build authentic, long-term relationships and deliver sophisticated, results-driven financial strategies. With the backing of Arax, we can scale that mission further, bringing our collaborative approach to life with expanded capabilities, resources and support.”
“At Arax, we’re building a platform for accomplished advisors who combine an entrepreneurial mindset with an unwavering commitment to client outcomes,” said Haig Ariyan, CEO of Arax Investment Partners. “The team at Summit exemplifies that spirit. Their culture of integrity, professionalism and growth makes them a natural fit for our model. We’re excited to support their continued expansion and to help them deliver even greater value to the clients and communities they serve.”
Founded in 2016, Summit Wealth Strategies is an independent registered investment advisor headquartered in Chesterfield, MO. The firm serves a diverse client base, including both individuals and families as well as institutional clients, and offers a range of advisory services including financial planning, portfolio management for individuals and small businesses and pension consulting. With 11 offices across two states, Summit Wealth is committed to helping clients stay in the driver’s seat of their own lives, providing tailored, personalized solutions to clients that help clients bridge the gap between where they are and where they want to be.
