Summit Financial Welcomes Oracle Private Wealth Advisors, an All-Woman Advisory Firm, to its Expanding Network

By: Summit Financial Holdings via Business Wire

January 16, 2024 at 09:30 AM EST

Baltimore County-based $300 million multi-family office joins Summit Financial to utilize its scale, resources, and integrated technology platform

Summit Financial Holdings (“Summit”), a top firm for values-driven independent and breakaway advisors, today announced that Oracle Private Wealth Advisors (“Oracle”), has joined Summit Financial. Formerly known as Oracle Capital Strategies, Oracle represents the eighth firm in 2023 to join Summit Growth Partners (SGP), an innovative partnership that combines cash monetization with equity participation as well as exclusive partnership privileges. Via the transaction, Oracle will become an affiliate partner of Summit Financial, providing them with access to a fully integrated suite of services and technology solutions, which will support the launch, operation, and growth of the new business.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240116493213/en/

Summit Financial welcomes Oracle Private Wealth Advisors. (Photo: Business Wire)

The Oracle team, located in Lutherville, Maryland, has for the past 15 years consistently served the financial needs of high-net-worth (HNW) executives, entrepreneurs, private foundations, and multi-generational families. Oracle’s team includes Audrey Drossner, Founding Member; Margaret “Meg” Anderson, Director, Private Client Advisory; Julia Vaughn, Director, Wealth Planning; Diana Cooper, Client Manager; and Karen Sanchez, Client Service Manager. The firm utilizes a unique and comprehensive process, focused on tax advantaged strategies, to support optimal outcomes for clients and their portfolios.

Consisting exclusively of women, the Oracle team comprises five industry professionals who maintain a steadfast commitment to serving as their clients’ most trusted partner. Their decades of collective expertise spans advanced investment strategies, wealth transfer and estate planning, charitable gifting techniques, and tax management. This unique blend of a sophisticated, tax sensitive investment strategy and a high-touch service model has enabled Oracle to amass more than $300 million in assets under management (AUM).

Oracle will leverage SummitVantage™, a comprehensive platform designed to enhance operational efficiency and free up advisors’ time for more client-focused activities. Moreover, this partnership opens doors to a network of advisors and strategic partners, facilitating knowledge sharing and potential collaborations, all aimed at supporting Oracle's growth and client-centric focus.

Summit offers top independent and breakaway advisors like Oracle an opportunity to align with the firm through partnership options that provide unmatched flexibility. Firms will have access to Summit’s full suite of services, including technology, financial planning, investment management, insurance, and operational support. Advisors joining Summit’s RIA maintain full ownership of their businesses, and advisors who qualify can become partners in SGP.

“By adding Summit’s premier set of resources to our practice, we are better equipped to grow and protect our clients’ wealth,” said Audrey Drossner, CPA, AIF®, PFP, founding member of Oracle Private Wealth. “Furthermore, the ability to leverage the expertise of those on the professional strategy team at Summit enables us to thoughtfully deepen and scale our client relationships.”

Drossner built her business understanding the unique perspective that an all-woman team can bring to financial advice. As a growing number of women take on the role of financial decision-makers, Oracle is well-positioned to support this major industry shift toward women-led financial planning. The opportunity that lies ahead for Oracle is noteworthy. According to McKinsey, it is anticipated that women may control as much as $30 trillion in financial assets by the end of the decade, a threefold increase from current levels. While today only 35.1 percent of advisors are women¹, the industry expects this number to grow in order to meet future demand.

"Oracle’s legacy is a direct result of Audrey’s passion for guiding the financial lives of her clients. Her financial planning acumen, coupled with her dedication to bringing more women into the industry, is exactly the type of leader we are looking for at Summit,” said Stan Gregor, CEO of Summit Financial Holdings. “We look forward to supercharging her business and empowering her team’s future.”

A 2023 Forbes and Barron’s Top 100 RIA Firm, Summit Financial remains committed to its founding principles of independence and comprehensive financial planning. Interested advisors and firm leaders can learn more about Summit Financial’s all-inclusive platform of fully integrated, industry-leading services, thought leaders and innovative technology—known as the SummitVantage™—at summitfinancial.com.

ABOUT SUMMIT FINANCIAL

As an independent financial services firm with legacy business from its predecessor going back over 40 years, Summit and its affiliates are proud to continue their vision of guiding clients toward financial success by aligning extensive experience with a forward-thinking philosophy, adapting to industry changes for the sake of best serving our clients now and well into the future. With customized, holistic, and hands-on advice, we help turn life’s aspirations into success stories. Our financial advice focuses on individual needs and values, not industry norms.

Summit Financial Holdings, LLC’s affiliated firms include, but are not limited to, Summit Financial, LLC, Summit Risk Management, LLC, Summit Advisory Services, LLC, Summit Services IT, LLC, and Summit Growth Partners, LLC.