Summit Business Media’s Wealth Manager is making the transition to online-only, the company said last week. The July/August issue will be its last.

According to publisher Andrew Sonnenberg, the decision was made, in part, based on feedback from readers and “key business partners.” The magazine’s Web site, WealthManagerWeb.com, will showcase new interactive community and editorial features, the company said.

One layoff was associated with the transition, Summit vice president John Whelan told FOLIO:. Editorial director Jamie Green and editor-in-chief Kate McBride will remain with the online magazine.

With a frequency of 11 times per year, the print edition of Wealth Manager carried a circulation of 40,000.

Earlier this month, Summit folded [0] monthly financial title Mortgage Originator Magazine. In January, citing a need to focus on its core brands, Summit suspended publication [0] of Bank Advisor magazine.

Summit continues to publish Investment Advisor, Research and Boomer Market Advisor magazines.