Kestra PWS attracts $181M breakaway team in Texas

A $181 million firm in Austin, Texas has become the second in the state to affiliate with Kestra Private Wealth Services, an RIA subsidiary of Kestra Financial.

Summiteer Financial is led by Mike Davis who says the decision to breakaway from the wirehouse model was driven by a need for flexibility, which he says is important as the industry continues to development new ways of working.

“With our industry constantly evolving and technology updating at a rapid pace, I'm excited to work in an environment where our office can pivot quickly when there is a better way to serve clients,” he said. “I strongly believe that we are in the service industry and the flexible model and first-rate technology at Kestra PWS will allow me to create a client-centric infrastructure that not only aligns with my core values but will also help propel my business forward.”

Davis has dedicated his 21 years in the industry to a planning-based approach and is keen to leverage the tools and products offered by Kestra PWS.

“Mike’s entrepreneurial spirit and focus on fostering a positive culture throughout his business make him a clear addition to the Kestra PWS community,” said Rob Bartenstein, CEO and Senior Managing Director at Kestra PWS. “We’re confident that what we have to offer – our in-depth experience, vast resources, and welcoming culture – will exceed Mike’s expectations of what it’s like to move to independence.”