Summit Path Advisors, the $5.5 billion AUM wealth administration agency on the Dynasty Monetary Companions platform, stated Wednesday they had been launching the STA Funding Alliance to assist different unbiased advisory corporations analysis and implement funding methods largely based mostly round alternate options.
Summit will make accessible to different corporations entry to their mannequin portfolios, together with different investments and market analysis, and assist vet most popular managers. The STA Alliance plans to make different funding methods, hedge fund and personal fairness choices accessible to RIAs trying to differentiate their funding choices.
Corporations can complement their very own portfolios with the service, or flip over their funding administration to Summit Path. STA Alliance will create customized portfolios for third occasion RIA purchasers that wish to outsource their chief funding officer function.
“We now have been approached by a rising variety of giant RIAs and household workplaces searching for entry to our funding platform as a method to differentiate their funding choices,” stated David Romhilt, Chief Funding Officer at Summit Path. “We imagine we will accomplice with roughly 10 to 25 corporations to ship high-quality funding options over the subsequent few years.”
Dominick Trapasso is becoming a member of Summit as a principal within the agency’s Chicago workplace to guide enterprise growth for The STA Funding Alliance. Beforehand he was a regional director for RIAs at asset administration agency Lord Abbett, and previous to that a managing director for RIAs and household workplaces at Nuveen.
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