SageView completes $321 million acquisition of Summit Financial Consultants

Westlake Village, California-based team to be integrated under the name of SageView

NEWPORT BEACH, Calif., August 9, 2022 /PRNewswire/ — SageView Advisory Group (“SageView”), one of the nation’s leading independent AIR firms, today announced that it has completed the acquisition of Summit Financial Consultants and successfully transitioned its business to SageView.

“Summit Financial has thrived under the leadership of Neil, Kimberly and Cody, and we are grateful to them for continuing this journey as members of the SageView family,” said Randy Long, founder and CEO of SageView. “We look forward to supporting their continued growth as they deliver to their customers across Southern California.”

Neil Elmouchi founded Summit Financial Consultants, an RIA, in 1985 as a comprehensive retirement and financial planning company. The firm has $321 million of assets under management (AUM) at the close.

Mr. Elmouchi said, “During this process, I found that Randy shared my deep belief that if you put people first, your practice and your clients will win. SageView continues to demonstrate this value in its approach to strengthening its leadership at the intersection of wealth management and retirement, and I am grateful that my team is now part of this company. »

The acquisition of Summit Financial is SageView’s sixth since July 2021 as part of its M&A growth strategy. SageView, which has partnered with Aquiline Capital Partners, a leading private equity firm focused on financial services and technology, in January 2021is a long-time leader serving pension plan sponsors across the country, with over $170 billion in pension plan assets.

Cody KleinPartner and Senior Wealth Advisor at Summit, said, “Our integration with SageView has been seamless and our clients have already seen the benefits of our partnership. We are excited to be part of SageView’s enhanced presence in Southern California.”

Kimberly LauPartner and Co-CEO of Summit, added, “We were fortunate to have several options as we considered the best path forward for our business and after a significant due diligence process, we found our partner in SageView. . Our similar investment approaches and corporate culture made it clear that we had found the right home for our team.”

SkyView served as the exclusive financial advisor to Summit Financial Consultants.

About the SageView Advisory Group
SageView Advisory Group is an SEC-registered investment advisory firm (RIA) serving retirement plan sponsors and individuals across United States since 1989. SageView has provided advice on 401(k), 403(b), 457, defined benefit and deferred compensation plans, and provides comprehensive wealth management services to individuals and families. SageView is headquartered in Newport Beach, Californiaand has more than 30 offices nationwide advising more than $170 billion old-age assets (AUA) and $4 billion assets under management (AUM) advisory.

SageView Advisory Group, LLC is a registered investment adviser. Advisory Services are offered only to clients or prospective clients for whom SageView Advisory Group, LLC and its representatives are duly licensed or exempt from licensing. Past performance is not indicative of future results. No advice can be provided by SageView Advisory Group, LLC unless a customer service agreement is in place.

For more information about SageView, visit www.sageviewadvisory.com or call (800) 814-8742.

Contact: Julie Katsnelson
800.814.8742 |[email protected]

SOURCE SageView Advisory Group