Summit Financial Holdings, backed by private equity firm Merchant Investment Management, is acquiring the investment advisory unit of Fieldpoint Private. This move will expand Summit’s total wealth management assets to approximately $12 billion, up from $5.1 billion managed by Fieldpoint’s advisory unit. While Fieldpoint’s banking operations will remain independent, Summit advisors will have direct access to Fieldpoint’s banking services, creating stronger connections for clients.
The acquisition aims to provide a fully integrated suite of solutions for Summit’s advisors and clients, enhancing service offerings and operational efficiency. Chris DeLaura, CEO of Fieldpoint Private Securities, will lead the combined Summit-Fieldpoint advisory division as president and CEO. The partnership is expected to broaden Fieldpoint’s potential client base and accelerate growth, combining Summit’s platform and Merchant’s investment expertise with Fieldpoint’s established advisory capabilities to deliver a more comprehensive wealth management experience for high-net-worth clients…