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Summit Financial Acquires Meeder WM
US-based Summit Financial Holdings, an investment advisory private partnership with over 40 years of experience, has added a new wealth management arm.
US-based Summit Financial Holdings has just announced that the wealth management arm of Meeder Investment Management has partnered with Summit Financial, in collaboration with Merchant Investment Management by way of a minority equity investment. The move marks Summit's first complete acquisition.
Meeder Investment Management, an asset management company focused on working with public funds, is not a part of this transaction and will remain an independently owned company, the firm said in a statement. Meeder Wealth Management will now benefit from SummitVantage™, a proprietary, integrated platform with access to sign-on technology, value-add services, and support in operations and compliance. They will also have the opportunity to tap into a bench of professional strategy experts in financial planning, insurance and investments, the firm added.
For nearly 50 years, the Dublin, Ohio-based Meeder wealth management team has helped guide its clients towards financial success through personalized financial planning. The firm offers value-add services such as government-insured deposit programs, retirement plan solutions and corporate investment solutions. Harnessing a range of investment disciplines, Meeder’s wealth management business has amassed $400 million in assets under management (AuM) to date.
“Embracing Summit Financial's partnership equips us with enhanced capabilities to maintain our legacy of delivering an elevated standard of client service,” Bob Meeder, president and CEO of Meeder Investment Management, said.
As part of this agreement, Meeder’s wealth management division will retain its branding and entire team. This includes Jason Click, CFP®, president, wealth management; Mike Saraullo, vice president, wealth management; Mike Miller, senior wealth advisor; Ryan Johnson, senior wealth advisor; Tricia McDermott, senior wealth coordinator; and Sara Story, wealth coordinator.
