On August 13, 2024, Summit Financial announced it had acquired Meeder Wealth Management.
Summit Financial Holdings (“Summit”) announced on August 13, 2024, that it had acquired Meeder Wealth Management (“Meeder”). Meeder is the wealth arm of Meeder Investment Management, which is not a party to the acquisition and will continue to operate as an independently owned company. The six-person Meeder team, led by president Jason Click and vice president Mike Saraullo, will retain their jobs and continue to use the Meeder brand under Summit’s ownership. Further terms of the transaction were not disclosed.
Summit, based in Parsippany, New Jersey, is a registered investment advisor firm offering a number of services to clients, including asset management, financial planning, consulting, managed portfolios, retirement plan advisory services, estate planning, portfolio analysis, retirement planning, education planning and insurance planning. As of February 2024, Summit had $6.2 billion in assets under advisement.
Meeder, based in Dublin, Ohio, is a wealth management firm offering financial planning, investment management, corporate investment solutions and retirement plan solutions. As of August 2024, Meeder had $400 million in assets under management. Turkey Hill Management acted as financial advisor to Meeder on the transaction.
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