Advisor Intelligence

Focus Partners with $600M Louisiana RIA

 

Lafayette, La.-based Summit Financial partnered with Focus Financial on Wednesday, making the $600 million firm the ninth transaction for Focus this year.

Founded in 2003 by former Legg Mason advisors Fred Werner and David Daniel, Summit Financial was previously affiliated with Wells Fargo Advisors Financial Network for nearly eight years. In addition to Werner and Daniel, Todd Lambert and Michael Pharr are partners in the firm along with four additional support staff employees.

Summit’s partnership with Focus provides the RIA—which manages $600 million in assets for high-net-worth individuals and foundations—with access to capital and deal expertise to grow through strategic acquisitions, Daniel says.

“Our decision to join Focus was influenced by the depth and quality of the partnership, as well as their capabilities and resources in satisfying specific growth objectives,” he said in a statement Wednesday.

Using five unique investment strategies focused on growth, equity income, and balanced income portfolios, Summit currently provides advice for clients in Louisiana and the surrounding areas.

“Summit’s client-centric service model and entrepreneurial spirit make them a natural addition to our partnership,” Rudy Adolf, founder and CEO of Focus said Wednesday. He noted that Focus looks to help the firm acquire new talent and further establish Summit as a regional presence in the Southeast.

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