SageView to Add $321M Wealth Mgmt Practice

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SageView Advisory Group says it’s acquiring another California-based wealth management practice.

The latest target is Summit Financial Consultants of Westlake Village, California, which oversees $321 million in client assets, according to SageView.

“Joining SageView will enhance the services of our own firm and expand our ability to help our clients, who rely on us for a holistic, personal approach to wealth management and financial planning,” Cody Klein, partner and senior wealth advisor at Summit Financial Consultants, said in the announcement.

The companies didn’t disclose the financial terms of the deal, which is scheduled to close on July 21.

Earlier this month, SageView also announced the acquisition of a $825 million wealth management practice based in Valencia, California. The agreement with Summit Financial is the sixth that SageView says it has announced since July 2021.

Formed in 1989, Newport Beach, California-based SageView now has more than 30 offices and over $170 billion in retirement assets and $4 billion in advisory assets under management, the company said earlier this month.

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