Bay Area registered investment adviser Summitry has named President Alex Katz and Chief Operating Officer Conor Wilkes as co-chief executives, ending Colin Higgins' 22-year run atop the firm.
The leadership change, which will see Higgins step into the newly created role of executive chairman, comes roughly 19 months after Aspen Standard Wealth, a New York-based RIA aggregator, acquired Summitry in November 2024.
"Over more than two decades, he helped build Summitry into what it is today: a firm grounded in care, integrity, and a deep commitment to helping clients live their best Bay Area lives," Katz and Wilkes said in a joint statement on Monday.
The leadership change in the C-suite is also happening four months after Summitry itself expanded through the acquisition of Pasadena-based Vantage Wealth, a $721 million practice.
Summitry now manages approximately $4 billion in assets, up from $2.8 billion at the time of the Aspen deal.
Under the new structure, Katz will lead client acquisition, investment strategy and financial planning, while Wilkes will oversee firm operations to help ensure a consistently elevated experience for Summitry's clients.
Higgins will retain a strategic and cultural role, working alongside Aspen on advisor recruitment, new RIA partnerships and the buildout of AI-enabled service capabilities – an area Aspen has signaled as a growth priority across its affiliate network.
"It's an incredible privilege to step into this role alongside Conor and build on the foundation Colin has created over the last 22 years," Katz said. Wilkes added that the pair are "committed to honoring the culture Colin built while positioning Summitry for sustainable, long-term success."
Aspen chief executive Aly Kassim-Lakha, who has led the platform's acquisition strategy since late 2024, called Higgins' broader firm "an exceptional firm" while highlighting how Katz and Wilkes "have earned the trust of their colleagues and clients through their vision, integrity, and execution.
"Their complementary strengths position Summitry to build on its remarkable success while continuing to deliver the personalized advice and exceptional client experience that have defined the firm for more than two decades," Kassim-Lakha added.
The management transition at Summitry lands amid a period of rapid dealmaking for its parent. Aspen closed its eighth RIA transaction last week, adding roughly $1.3 billion in client assets through Kalamazoo, Michigan-based CWS Financial Advisors, bringing total assets across its affiliated firms to $15 billion.
That deal followed Aspen's March acquisition of BlueSky Wealth Advisors, a $1 billion North Carolina practice, and the February hiring of Kevin DiSano, formerly of Beacon Pointe Advisors, as Aspen's president overseeing organic growth.
Aspen has positioned itself as what it calls a permanent home for independent RIAs rather than a firm seeking to flip acquired practices – a model under which affiliates retain their brand names and leadership while drawing on Aspen's capital and back-office infrastructure.
Federal prosecutors say the scheme used fake investment accounts and a fictitious financial advisor to lure victims into romance-fueled fraud.
Morgan Stanley sought to claw back recruiting bonus money from Darryl Cohen.
Referrals from centers of influence may open the door, but the real key to success for advisors comes from clarity about their ideal clients and where they want to show up.
Three advisor groups overseeing more than $700M in combined client assets head to new firms.
New research finds most Americans fear a US retirement crisis, while skepticism grows toward AI financial advice and crypto in retirement plans.
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
