Corient has agreed to add Summit Trail Advisors, a registered investment adviser focused exclusively on ultra-high-net-worth clients. Based in New York, Summit Trail manages more than $21 billion in assets for individuals, families, and institutions.
Founded in 2015, Summit Trail operates as an outsourced family office and chief investment officer for clients with complex financial needs.
The firm provides wealth and estate planning, integrated investment management across public and private markets, and family office services through team-based advisory practices.
Summit Trail was founded by Jack Petersen, Dave Romhilt, Tom Palecek, John Scarborough and Peter Lee.
Its team operates in major U.S. markets, including New York, Boston, Chicago, Dallas, Denver, Minneapolis, San Francisco, Seattle, Harrisburg, Newport Beach and Portland.
Following the transaction’s completion, Summit Trail principals will become Corient Partners.
Corient said the addition will deepen its ultra-high-net-worth capabilities and expand its client relationships across the United States.
The firm operates through a private partnership structure intended to encourage collaboration across advisory teams and give clients access to broader firm-wide expertise rather than relying on a single adviser.
Founded in 2020, Corient has more than 300 partners and over 2,700 employees.
The firm manages approximately $556 billion globally for ultra-high- and high-net-worth individuals, families and businesses.
The transaction is expected to close during the third quarter of 2026. Financial terms were not disclosed.
Ardea Partners is serving as Summit Trail’s exclusive financial adviser, while Seward & Kissel is providing legal counsel.
Goldman Sachs is serving as Corient’s exclusive financial adviser, and Sidley Austin is acting as legal counsel.
KEY QUOTES:
“Summit Trail is an exceptional firm, with exceptional people. With their deep experience in ultra-high-net-worth advisory, the Summit Trail team will be a strong addition to our partnership, extending our expertise and broadening our client relationships across the country.”
Kurt MacAlpine, Founding Partner and CEO of Corient
“What drew us to Corient was its partnership model and the collaboration it fosters across the organization.”
“The culture of shared ownership reinforces the client-first philosophy that has always guided our firm, while giving us access to extensive capabilities, deep resources and global scale to deliver an even better experience to sophisticated clients.”
Jack Petersen, Managing Partner of Summit Trail Advisors
