Deal expands Corient’s ultra-high-net-worth client base and adds outsourced family office expertise ahead of Q3 close.
Corient, a Miami-based registered investment advisor owned by Mubadala Investment Company, agreed to acquire Summit Trail Advisors, a New York RIA managing $21 billion in assets. The target serves ultra-high-net-worth individuals, families, and institutional clients, bolstering Corient’s presence in the segment.
Summit Trail joined Dynasty Financial Partners in 2015 after former Barclays advisors formed the firm. The deal will see Summit Trail exit the network and rebrand under Corient, with senior leaders, including co-founder Jack Peterson, becoming partners.
The acquisition adds outsourced family office and chief investment officer services to Corient’s platform, aligning with its team-based model. The transaction is expected to close in the third quarter.