Summit Trail Advisors Picks Up $3 Billion Team From BMO

The Recruitment Strengthens The Boutique Wealth Management Firm And Dynasty Affiliate’s Presence Across The U.S.
Jack Petersen, Managing Partner, Summit Trail Advisors
Jack Petersen, Managing Partner, Summit Trail Advisors

New York-based boutique wealth management firm Summit Trail Advisors said Wednesday it recruited the former Key Client Group of BNP Paribas/Bank of the West to its advisor network.

Summit Trail, an affiliate of Dynasty Financial Partners, with $18 billion in client assets, serves UHNW families and institutions across the U.S.

The Key Client Group managed more than $3 billion in client assets at BNP Paribas’ Bank of the West before it was acquired by BMO in 2023, according to Summit Trail.

“We are thrilled to welcome this incredibly talented team to Summit Trail,” said Jack Petersen, Managing Partner of Summit Trail Advisors. “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 new offices in Portland, Oregon, and Denver will join existing Summit Trail locations in New York City; Harrisburg, Pennsylvania; Boston; Chicago; San Francisco; and Seattle, it said.

Summit Trail “developed a robust technology and reporting infrastructure in its 9 years as an independent firm, solidifying its position as a leader in the industry,” it said.

The firm serves individuals and families who outgrew traditional wealth management and are looking for a more dynamic approach previously only found in private “family offices” or entities that provide investing, tax, governance and legacy planning to UHNW families.

Shirl Penney, CEO, Dynasty Financial Partners
Shirl Penney, CEO, Dynasty Financial Partners

“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.

“We are excited to support their dynamic growth and are confident that their enhanced presence nationally will bring unparalleled value to their clients.”

Dynasty Investment Bank served as an exclusive buy-side advisor to Summit Trail and provided financing for the transaction.

The advisor team added to Summit Trail includes 10 experienced professionals includes:

  • David Hultman and Danielle Louton, Partners and Advisors, based in San Francisco
  • Shima Salehi, Partner and Advisor, based in Portland, Oregon, and leading the firm’s expansion in the Pacific Northwest
  • Matthew Marsh, Partner and Advisor, based in Denver and leading the firm’s expansion in the Rocky Mountain region
  • Ali Homayounfar, ex-Head of Key Client Group, Partner and Head of Business Development, based in New York
  • Roberto Homar, Advisor and Portfolio Management Specialist, based in New York
  • Tony Morel, Investment Specialist, based in New York
  • Dimitre Ivanov, Head of Business Management and Client Reporting, based in Chicago
  • Ina Locsin, Client Service Officer, based in San Francisco
  • Tannaz Sanandaj, Client Service Officer, based in Los Angeles

Jeff Berman, Contributing Editor & Reporter at Wealth Solutions Report, can be reached at jberman@wealthsolutionsreport.com.

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