Summit Companions, an funding agency lively in monetary providers and know-how, is pursuing a sale of its stake within the $19.7 billion registered funding advisor RWA Wealth Companions, based on sources accustomed to the conversations.
Summit has employed bankers from Raymond James to discover an exit, based on the sources. These conversations have been held with different personal fairness companies in addition to strategic acquirers, based on one of many sources.
Summit took a controlling stake in Newtown, Mass.-based Adviser Investments in late 2020, based on PitchBook information. Adviser Investments acquired equally sized Ropes Wealth Advisors in 2023 and later rebranded the mixed entity as RWA Wealth Companions.
Neither RWA Wealth nor Summit Companions responded to a request for remark.
Summit has a number of funds that took stakes in RWA Wealth in December 2020, based on regulatory filings. Founder Dan Weiner and different companions and board members additionally maintain stakes, with some approaching after the acquisition and rebrand.
Boston-based Summit describes itself as a progress companion for companies spanning early-stage enterprise capital and personal fairness, with investments throughout client providers, know-how, healthcare and life sciences. It had been an early investor in Focus Monetary Companions and at the moment holds stakes in wealthtech platform VestMark.
2025 has been an lively 12 months for personal fairness companies exiting majority and minority stakes that had been typically made in 2019 or the early 2020s. In September, Onex Companions, a Canadian personal fairness agency, bought its stake in RIA OneDigital to StonePoint Capital and the Canadian Pension Plan Funding Board. In October, Aquiline Companions agreed to exit its controlling place within the $250 billion SageView Advisory Group via a sale to Artistic Planning.
RWA Wealth made its first acquisition for the reason that merger in August in a deal for a San Francisco-based RIA.
Along with Massachusetts, the RIA has workplaces in California, Florida, Michigan and Illinois. It has personal wealth and household workplace divisions and is run by CEO Michelle Knight. Knight had been the president and chief economist of Ropes Wealth Advisors earlier than taking the CEO position of the rebranded agency.
