Summit Wealth Group has merged with Denver-based Cook Financial Associates, creating an independent wealth management firm with more than $240 million under management, officials said.
The combined companies, which officially merged in late June, will be called Summit Wealth Group. Financial terms of the merger were not disclosed.
Based in Colorado Springs, Colo., Summit Wealth Group works with an estimated 800 clients in 34 states and oversaw $190 million in assets prior to the merger. Founded in 1985, Summit Wealth Group is an independently owned and operated wealth management firm with three other offices in Denver, Madison, Miss., and Scottsdale, Ariz. Staffed by 24 employees, the firm offers an array of financial services, including business, retirement and estate planning.
Cook Financial Associates, founded in 1989 by Daniel Cook, provides financial solutions to clients in the dental industry. Staffed by eight employees, Cook Financial is based in Lone Creek, a suburb of Denver. The company managed $50 million in assets prior to the merger.
Summit Wealth Group founder Randy Morris, who will be chief executive of the merged firm, said the merger gives both firms "additional leverage to serve our clients better and to offer a broader wealth management experience."
"The merger expands and extends our ability to serve our clients," added Daniel Cook, founder of Cook Financial. "With broader support and services, we can focus more on what we do best: helping our clients achieve their most important financial goals."
-Jim McConville