Raymond James Financial Acquires SumRidge Partners

7RIDGE Acquires American Financial Exchange (AFX)

April 18, 2023

Financial Services

7RIDGE, a specialized growth equity firm, has acquired 100% of the American Financial Exchange (AFX) to accelerate growth of the AFX platform and expand adoption of its AMERIBOR benchmark. The transaction preserves a Cboe Global Markets subsidiary as a service provider to AFX and aims to deepen AFX’s role as a provider of credit-sensitive benchmarks to U.S. banks and financial institutions.

SageView Advisory Group Acquires Summit Financial Consultants

August 9, 2022

Financial Services

SageView Advisory Group completed the acquisition of Summit Financial Consultants, integrating the Westlake Village, California-based RIA into the SageView platform. The deal expands SageView’s presence in Southern California and adds approximately $321 million in AUM to its retirement and wealth management business.

Raymond James Acquires TriState Capital Holdings for Approximately $1.1B

October 20, 2021

Financial Services

Raymond James Financial completed the acquisition of TriState Capital Holdings in a cash-and-stock transaction valued at roughly $1.1 billion, with TriState shareholders receiving $6.00 in cash plus 0.25 shares of Raymond James per TriState share. TriState will operate as a separately branded, independently chartered bank subsidiary with existing management and approximately 350 employees remaining in place; the deal expands Raymond James' private banking, securities-based lending and commercial lending capabilities while adding an additional bank charter and deposit capacity.

Wealthcare Acquires Sommers Financial Management

January 12, 2023

Wealth Management

Wealthcare Advisory Partners LLC, a NewSpring Holdings platform company and technology-enabled full-service RIA, has acquired Sommers Financial Management, a fee-only registered investment advisor founded in 2002. The deal expands Wealthcare's direct advisory footprint and adds advisors located in Scappoose, Oregon and Tucson, Arizona to its network of more than 150 advisors managing roughly $5 billion in AUM.

Summit Financial (SGP) Takes Minority Stake in Gordon Asset Management

December 23, 2024

Wealth Management

Summit Financial, via its Summit Growth Partners partnership, acquired a minority stake in Gordon Asset Management, a boutique advisory firm headquartered in Durham and Pinehurst, North Carolina. The investment will give Gordon access to Summit’s network, capital and in-house strategy resources and is intended to expand Summit’s retirement-plan capabilities and accelerate Gordon’s growth while preserving local operating control.

Arax Investment Partners Acquires Summit Wealth Strategies

August 5, 2025

Wealth Management

Arax Investment Partners, a RedBird-backed wealth-management platform, has acquired Summit Wealth Strategies, a Chesterfield, Missouri–based registered investment advisor with $1 billion in assets under management. Summit will join Arax Advisory Partners to expand Arax's Midwest presence; financial terms were not disclosed.