Corient Acquires UHNW-Focused $21B Summit Trail Advisors

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Corient announced different blockbuster registered concern advisor acquisition connected Wednesday.

The Miami-based RIA owned by Mubadala Investment Company said it reached a woody to get Summit Trail Advisors, a New York-based RIA overseeing $21 cardinal successful lawsuit assets, with a absorption connected ultra-high-net-worth individuals and families, arsenic good arsenic immoderate organization business. The woody is expected to adjacent successful the 3rd quarter.

The woody volition spot New York-based Summit Trail permission the Dynasty Financial Partners Network, which it joined successful 2015 erstwhile a radical of erstwhile Barclays advisors near to signifier their ain RIA. Senior squad leaders, led by co-founder and Managing Partner Jack Peterson, volition go partners successful Corient arsenic portion of the move, with the steadfast adopting the Corient marque name.

"Corient was the wide prime for our steadfast and, astir importantly our clients," Petersen said successful a statement. "What drew america to Corient was its concern model—the lone 1 of its benignant successful wealthiness management—and the collaboration it fosters crossed the organization."

In summation to its assets and lawsuit base, Summit Trail volition bring Corient expertise successful outsourced household bureau and main concern serviceman services, moving crossed wealth, property readying and concern absorption successful nationalist and backstage markets and a team-based attack that aligns with Corient's model, according to the announcement. It volition besides found a footprint successful respective U.S. markets, including New York, Boston, Chicago, Dallas, Denver, Minneapolis, San Francisco and Seattle.

"The determination by a steadfast of Summit Trail's caliber to articulation Corient serves arsenic meaningful validation of our firm's prime and the differentiated worth of our backstage concern operation and concern model," said Kurt MacAlpine, founding spouse and CEO of Corient, successful a statement.

MacAlpine has antecedently touted Corient's backstage concern model, which mirrors that of different nonrecreational services firms and present includes 300 partners and implicit 2,700 employees. Corient stemmed from the rebranding of the U.S. wealthiness concern of Toronto-based CI Financial, which has wealthiness and plus absorption businesses successful Canada. CI Financial was taken backstage successful 2025 by Abu Dhabi-based Mubadala Capital.

After a bid of larger acquisitions successful the U.S. and the U.K., Corient is present among the largest RIAs successful the satellite with astir $556 cardinal successful assets nether absorption and administration.