Summit Wealth Group Hits $3B AUM with Merger, Eyes Family Office Sector

COLORADO SPRINGS, CO – February 03, 2026 – Summit Wealth Group, a rapidly expanding independent registered investment advisory (RIA) firm, has announced a merger with Premier Private Wealth, a Nashville-based firm managing $470 million in assets. The deal elevates Summit’s total assets under management (AUM) to approximately $3 billion and marks a significant strategic expansion into Tennessee and the specialized market of ultra-high-net-worth (UHNW) client services.

This merger is not just an acquisition but the launchpad for a new, dedicated division: Summit Wealth Group Family Office Services. The move signals a deliberate pivot to provide comprehensive, holistic support for the complex financial and personal needs of ultra-wealthy families, positioning Summit within a key growth segment of the wealth management industry.

A Strategic Leap Forward

The merger represents the first major acquisition for Summit since its strategic transition to an independent RIA in May 2025, a move made to enhance flexibility and client service after departing from the Commonwealth Financial Network. The firm's growth has been accelerating, hitting $1 billion in AUM in 2021 and crossing the $2 billion threshold in March 2024. This latest deal with Premier Private Wealth (PPW) aligns directly with an ambitious growth plan articulated by leadership, which aims to reach $10 billion in assets within the next five years, primarily through strategic partnerships with RIAs managing $400 million or more.

The partnership is rooted in a long-standing professional relationship between the firms' leaders. Randy Morris, CEO of Summit Wealth Group, and Michael Comstock, former CEO of PPW, knew each other for over a decade and served together on the Commonwealth advisory counsel. This shared history and cultural alignment were crucial to the deal.

“Our clients have always been at the center of every decision we make,” said Randy Morris, CEO of Summit Wealth Group. “The merger with PPW strengthens our commitment to our clients by bringing on deeper knowledge, broader capabilities, and a shared vision for delivering an exceptional client experience. We’re excited to welcome Michael and his talented team to the Summit family, and for the opportunity this partnership creates for our clients, our team, and the future we’re building together.”

Redefining Wealth for the Ultra-Affluent

The centerpiece of the merger is the creation of Summit Wealth Group Family Office Services. This new division is designed to move beyond traditional investment management to address the multifaceted challenges faced by families of significant wealth. The offering includes investment oversight, advanced tax and estate planning, family governance, philanthropic strategy, and multi-generational education. To deliver this, Summit will leverage a hybrid model of in-house talent and curated external partners, such as Legacy Capitals for family wealth leadership coaching.

Michael Comstock will spearhead this initiative, taking on the newly created role of Head of Family Office Services. He will also join Summit’s executive leadership team and continue to lead the firm's new office in Franklin, Tennessee. The decision was driven by the evolving needs of his own clients, who required more sophisticated, multi-generational planning.

“Our decision to join Summit Wealth Group comes from shared values and a long-standing relationship built on trust,” said Michael Comstock, CFP®, incoming Head of Family Office Services. “Families of significant wealth need more than investment management—they need an integrated approach that supports the family’s financial, human, and social capital. By merging with Summit Wealth Group, we are building a multi-generational solution with deeper support and broader resources, while maintaining the personal, relationship-driven care that has always defined us.”

The Engine of Expansion: Private Equity and Leadership

Summit’s aggressive expansion is powered by a strategic minority investment from Constellation Wealth Capital (CWC) secured in June 2025. CWC, an asset management platform focused on the independent wealth sector, provides capital and strategic guidance to partner firms, enabling them to pursue growth without sacrificing independence. This investment has provided Summit with the resources to make targeted investments in talent, technology, and M&A opportunities like the PPW merger.

CWC's strategy involves backing promising RIAs to help them scale, and its portfolio includes stakes in other notable firms such as Bogart Wealth and AlTi Tiedemann Global. This partnership allows Summit to execute its ambitious vision while maintaining its fiduciary, client-first culture.

The merger also follows a period of significant talent acquisition at Summit. The firm recently bolstered its leadership team with the hiring of Scott Wilkinson as Chief Compliance Officer, Chelsea Ganey as Chief Investment Officer, and Seamus O’Brien as Head of Advisor Success. This infusion of senior leadership is a clear indicator of the firm’s commitment to building a robust infrastructure capable of supporting its rapid growth and expanded service offerings.

Charting a Course in a Consolidating Market

The Summit-PPW merger is emblematic of a powerful trend sweeping the RIA landscape: consolidation and specialization. As the industry matures, independent firms are increasingly joining forces to achieve the scale necessary to compete, invest in technology, and broaden their service capabilities. Private equity has become a key catalyst in this trend, providing the capital for RIAs to grow through acquisition.

Simultaneously, firms are recognizing that serving the UHNW segment requires a more sophisticated, integrated approach. Competitors like Clearstead Advisors have also made recent acquisitions to bolster their family office capabilities, underscoring the intense demand for these holistic services. By launching its Family Office division, Summit is not only expanding its AUM but also carving out a defensible niche in a high-value market.

This strategic combination of geographic expansion, service specialization, and a fortified leadership team, all backed by private capital, positions Summit Wealth Group to aggressively pursue its long-term goals. The merger with Premier Private Wealth is more than a transaction; it is a foundational piece of the firm's strategy to build a multi-generational, national wealth management platform.