Summit Trail goes national with $3B high-end team

Summit Trail Advisors, a prominent boutique wealth management firm managing $18 billion in client assets, is broadening its footprint across the US with a key acquisition.

On Wednesday, the firm announced its national expansion through the addition of a team from BNP Paribas/Bank of the West.

The team, which formerly operated as the Key Client Group, will serve ultra-high net worth individuals, families, and institutions across the US.

“We are thrilled to welcome this incredibly talented team to Summit Trail,” Jack Petersen, managing partner of Summit Trail Advisors, said in a statement Wednesday. “Their culture, expertise, and commitment to their clients made this a perfect fit and will strategically enhance our national footprint in key new markets.”

The Key Client Group, which managed over $3 billion in client assets before Bank of the West was acquired by BMO in 2023, consists of ten experienced professionals:

• David Hultman, partner and advisor, San Francisco
• Danielle Louton, partner and advisor, San Francisco
• Shima Salehi, partner and advisor, Portland, Oregon
• Matthew Marsh, partner and advisor, Denver, Colorado
• Ali Homayounfar, partner and head of business development, New York
• Roberto Homar, advisor and portfolio management specialist, New York
• Tony Morel, investment specialist, New York
• Dimitre Ivanov, head of business management and client reporting, Chicago
• Ina Locsin, client service officer, San Francisco
• Tannaz Sanandaj, client service officer, Los Angeles

Since launching as an independent firm 9 years ago, Summit Trail has built up a solid technology and reporting infrastructure.

Styling itself as a dynamic alternative to the traditional industry model, the boutique wealth firm operates as an outsourced family office and CIO with a focus on UHNWIs, family offices, and non-profit entities.

The new offices in Portland and Denver will join Summit Trail's existing locations in New York, Harrisburg, Boston, Chicago, San Francisco, and Seattle.

“This expansion marks a new chapter for Summit Trail Advisors, reinforcing their dedication to delivering premier wealth management services across the country,” said Shirl Penney, CEO and founder of Dynasty Financial Partners, which acted as a buy-side advisor to Summit Trail for the transaction.