Wealth management firms join forces

Summit Wealth Group of Colorado Springs  has merged with Lone Tree-based Cook Financial Associates to form a wealth management firm with five offices in Arizona, Colorado and Mississippi managing more than $240 million for about 1,100 clients nationwide.

The merger adds Cook, which has specialized in offering wealth management, accounting and tax services to the dental industry for more than 20 years, to Summit, which operates offices in the Springs, Lakewood, Scottsdale, Ariz., and near Jackson, Miss. Summit founder Randy Morris said Tuesday that merger talks began last fall because both companies shared similar visions and values. The completed deal creates a combined company with six financial advisers, an accountant and 16 other staff members.

“This merger produced a firm that is much stronger than the two separate firms. Our vision is that Summit Wealth Group will be know nationally as a leading provider of customized financial solutions, and this merger helps move us closer to that goal,” Morris said. “This merger will give both firms additional leverage to serve our clients better and to offer a broader range of wealth management experience. We look forward to offering our clients the tax and accounting services that Cook Financial brings to our company.”

Summit was started in 1985 by Morris and before the merger employed five financial advisers and 10 staff members in four offices to manage $190 million for 800 clients in 34 states. Cook was started by Daniel Cook in 1989 and employed him as its only financial adviser, along with an accountant and six other staff members in Lone Tree, to manage $50 million for 300 clients. Cook and its staff will remain in Lone Tree.

Summit clears its investment transactions through Waltham, Mass.-based Commonwealth Financial Group, and partner Ross Haycock is an Endorsed Local Provider with radio’s “The Dave Ramsey Show,” providing financial education and guidance to listeners.

“The merger expands and extends our ability to serve our clients,” Daniel Cook said. “With broader support and services, we can focus more on what we do best: helping our clients achieve their most important financial goals.”
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