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Berkshire Global has been a registered broker dealer since 2003
Home / transaction / Berkshire Global Advisors client Summit Capital Management has been acquired by Merriman Wealth Management
Berkshire Global Advisors client Summit Capital Management has been acquired by Merriman Wealth Management
  • has been acquired by

    • Berkshire Global Advisors client Summit Capital Management has been acquired by Merriman Wealth Management

  • Date: April 2016
  • Sector: Wealth Management
  • Sub-Sector: RIA
  • Region: North America
  • Seller AUM: $470 Million

    • Seller Details
    Summit Capital Management is a boutique RIA based in Seattle, Washington, founded in 1996. Summit Capital’s core investment philosophy is a value-oriented approach centered on the preservation of capital, with the objective of providing solid risk-adjusted returns in all market environments.

    Buyer Details
    Founded in 1983, Merriman Wealth Management is a Seattle-based wealth management firm. The firm emphasizes a comprehensive wealth management approach that incorporates financial planning, retirement planning, insurance, estate/wealth transfer planning, income tax planning and charitable giving strategies supported by their core investment management offering. Merriman currently employs a total of 44 staff, including 15 principals, and serves approximately 2,000 clients.

    Transaction Summary
    This is Merriman’s first strategic transaction since joining Focus in December 2012, making Merriman one of the largest wealth management firms in the Pacific Northwest. It allows Merriman to expand its geographic presence as it adds Summit Capital’s Spokane office to Merriman’s existing locations in Seattle and Portland. “At Merriman, we have been looking for great partners like Summit Capital as we progress through our next phase of growth. We take pride in delivering highly customized wealth management advice to our clients, and Summit Capital’s investment philosophy and client service model make the firm a natural fit,” said Colleen Lindstrom, CEO at Merriman. “We are excited about the expanded portfolio strategies and wealth management services we will now be equipped to provide to a much broader client base.”