Franklin & Marshall Trustee Scott Sommer, Esq., ’85 and his wife, Laurie, recently committed $1 million to support financial aid through their gifts to the Scott and Laurie Sommer Endowed Scholarship and Scott and Laurie Sommer Franklin & Marshall Fund Scholarship. To them, the gift celebrates the role F&M has had in Scott’s life, and ensures that opportunity remains available for current and future students.

“Franklin & Marshall prepared me extremely well for law school,” said Sommer, who credits his F&M experience for the enduring connection he’s felt in the years following graduation and for his current service as a trustee. “The critical thinking and writing skills, and the ability to learn so much about so many different things, were instrumental to the entrepreneurial success I have enjoyed. It’s important to Laurie and me that our giving supports that experience for first-generation college students.”

"Scott and Laurie’s landmark investment reflects their belief in F&M’s power to transform lives, just as it did for Scott,” said F&M President Andrew Rich. “I am grateful for their vision and leadership; this gift ensures that an F&M education remains accessible and transformative for future generations of Diplomats."

"If we can provide an opportunity for F&M to attract bright students who might not otherwise have the chance to attend because their families don't have the funds, we think that's a great thing to do."

Trustee Scott Sommer, Esq. '85

A Foundation Made at F&M

Sommer’s family was living in Allendale, NJ, when they toured several liberal arts colleges in central and southeast Pennsylvania early in his senior year of high school. He saw a lot of similarities in the curriculum and campus environments, but his visit to Franklin & Marshall left a lasting impression, one that was bolstered by conversations with current students who had attended his high school and spoke highly of their experience.

Looking back, he thinks proudly of his high-school identity as a self-described “nerd jock,” equally committed to the debate club and varsity soccer and tennis teams.

“My parents had always said, ‘You’re such an effective arguer. You should really think hard about law school,’ and I knew that a major in government would be good preparation,” Sommer remembers. “Then I took macroeconomics. I didn’t go in thinking I’d get a double major, but I really fell in love with that part of the curriculum as well.”

Relationships with government professors Sid Wise and Stan Michalak, along with Russian literature professor Samuel Allen, ensured his classroom experiences were among the most rewarding and enjoyable moments of his undergraduate career.

Following close behind was membership in Zeta Beta Tau and the friendships he developed, many of which remain strong more than 40 years after graduation. He considers the camaraderie and leadership skills he learned there as among the most important aspects of his early life.

Beating Wall Street

Sommer earned his law degree from New York Law School, where he relied heavily on the critical thinking and persuasive writing skills F&M taught him. After a decade as an attorney, he transitioned to the business development side of a rapidly growing tech firm, developing significant experience in financial management before co-founding Cornerstone Advisors in 2002, where he led the firm as CEO until his retirement in 2024.

Cornerstone specializes in supporting executives at mid-size banks, credit unions, and financial technology companies that manage up to $100 billion in assets. Their services span mergers and integration planning to reorganization, cost savings analysis, and institutional stability advising.

That targeted client base and comprehensive approach buffers the firm from the often dramatic ups and downs of economic trends,delivering positive revenue growth every year since its founding. It also gave Sommer some of his greatest professional moments, helping his banks and credit unions survive tough competition from massive institutions with significantly more wealth.

“We call them our troublemaker clients,” Sommer says. “We want to help our mid-size and regional banks compete against the large Wall Street banks. When you borrow or invest in some of these enormous institutions, your money is likely going to fund mega loans in Charlotte or San Francisco. But when you bank with a local institution, your money funds loans in your community, helping fellow businesses thrive.”

Supporting Students, Today and Forever

That theme carries through in Sommer’s philanthropy — supporting a community betters that community. Scott and Laurie say it’s important that their contributions remain a perpetual resource for F&M through the endowment while also making an immediate impact.

“Current-use funds are always key. Perhaps not for schools with a $40 or $50 billion endowment, but F&M isn’t in that position,” Scott says. “If we can provide an opportunity for F&M to attract bright students who might not otherwise have the chance to attend because their families don't have the funds, we think that's a great thing to do.”