Two former associates of Baum Financial Services are opening a new firm following the sudden closure of the long-standing financial planning company in The Villages.
Darren McQuary and Spencer Dix recently sent a letter to former Baum clients announcing the launch of Summit Wealth Management Advisors. The letter arrives as adult children whose parents invested with Baum Financial Services grow increasingly nervous as investment payments have suddenly ceased.
In their Oct. 15 letter, McQuary and Dix sought to reassure clients, stating that all current annuity and advisory accounts “remain exactly as they are”. They noted that the accounts continue to be held at their respective custodians and that the closure of Baum Financial Services “does not change your accounts, your balances, or your contract terms in any way”. The pair indicated they are completing final regulatory steps and are currently looking for a primary office space near The Villages, with plans to explore a second location further south…