A Newport Beach, Calif.-based advisor managing over $500 million in client assets is joining the Dynasty-backed Summit Trail Advisors from the BMO-affiliated Key Client Group, the boutique wealth firm announced Thursday.
Paul Hoskin is joining the $18 billion Summit Trail as a partner and advisor and has worked at the Key Client Group of BNP Paribas/Bank of the West since 2022, according to SEC records. The Key Client Group managed more than $3 billion in client assets before being acquired by BMO in 2023.
Before BNP Paribas/Bank of the West, Hoskin worked at Citibank and U.S. Trust. He specializes in advising business owners and ultra-high-net-worth families, assisting them with accessing necessary capital, succession planning and managing generational wealth. He was registered on the LPL broker/dealer platform while employed at BMO but will now be registered on Summit’s b/d.
Summit Trail Managing Partner Jack Petersen said Hoskin’s experience with Southern Californian business owners would be “crucial” to the firm’s expansion. The Newport Beach office will be Summit Trail’s first location in Southern California.
Earlier this year, Summit brought in 10 professionals from Key Client Group, including David Hultman and Danielle Louton, partners and advisors in San Francisco; Ali Homayounfar, formerly the head of the Key Client Group, now partner and head of business development in New York; Roberto Homar, advisor and portfolio management specialist in New York; Tony Morel, investment specialist in New York; and Dimitre Ivanov, head of business management and client reporting in Chicago.
Partner and advisor Shima Salehi is based in Portland, Ore., and will lead Summit Trail’s Pacific Northwest expansion, while partner and advisor Matthew Marsh is leading the firm’s first Rocky Mountain region office in Denver (additionally, client services officers Ina Locsin and Tannaz Sanandaj joined Summit Trail from BMO in San Francisco and Los Angeles, respectively).
Summit Trail was formed in July 2015 by several former Barclays advisors (including Petersen) in the wake of Stifel’s purchase of Barclay’s U.S. wealth business. Many Barclays advisors, including the Summit Trail crew, opted to leave rather than join Stifel.
It’s a member of Dynasty’s network of 56 independent firms (with over 400 advisors), and the average AUM per firm is $1.8 billion. Along with the new Newport Beach office, Summit Trail has a presence in New York, Boston, Chicago, Dallas, Denver, Seattle, Portland, San Francisco and Harrisburg, Penn.