RIA giant Summit Financial has expanded its reach across the wealth space yet again announced the addition of three advisory firms to its network.
The partnerships with Southeast Financial Group, Radiance Private Wealth, and Silvertree Retirement Planning, facilitated through Summit Growth Partners, bring the firm's strategic deal count this year up to 16 transactions.
Summit is taking minority, non-controlling stakes in the firms, which collectively represent $420 million in client assets.
The newly integrated firms will retain their existing leadership and core teams while benefiting from Summit’s comprehensive resources. These include access to in-house legal, tax, and investment management expertise as well as capital support for growth.
In a statement, Stan Gregor, CEO of Summit Financial, highlighted the broader impact of the acquisitions.
“The strategic integration of SEFG, Radiance, and Silvertree into the Summit family not only amplifies our nationwide footprint but also reinforces our commitment to invest in North Carolina, Wisconsin, and the Tri-State area,” Gregor said Monday. “By leveraging Summit's unparalleled resources and cutting-edge support systems, these firms are now poised to achieve unprecedented success.”
Southeast Financial Group, based in Raleigh, North Carolina, specializes in creating personalized wealth strategies for its clients. Its founder, Ed Secrest, emphasized the benefits of joining Summit’s network.
“Joining forces with Summit marks a significant milestone for Southeast Financial Group, enabling us to expand and scale efficiently while continuing to provide outstanding service to our valued clients,” he said.
Radiance Private Wealth, led by Gautam Chhada and Randi Engelbrecht, provides a suite of financial services for high-net-worth clients in the Tri-State area.
Chhada described the partnership as an opportunity to enhance client service. “Summit was the clear partner of choice for Radiance,” he noted. “This new chapter enables us to elevate our commitment to exceptional client service, providing the highest level of personalized support and innovative wealth solutions.”
Silvertree Retirement Planning, based in Wisconsin, combines local insights with Summit's national expertise, providing a niche clientele of professionals in the manufacturing space with tailored financial solutions while ensuring security and transparency.
These acquisitions follow several recent moves by Summit Financial to expand its footprint. In August, Summit acquired Meeder Wealth Management, the $400 million wealth division of Meeder Investment Management in Ohio. The firm also took minority stakes in BFG Wealth and Canon Capital Wealth Management in September, adding $470 million in assets under advisement through those partnerships.
New report shows dimmed outlook for benefits to retirees and disabled Americans, creating further pressure for federal tax hikes or more borrowing.
Open letter to SEC Chair Paul Atkins questions whether the Ivy League university withheld material information prior to its $750 million taxable bond offering.
The Las Vegas-based hybrid RIA overseeing $8.8 billion in assets has named Andy Kalbaugh president to help scale its advisor platform.
The wealth tech giant – in collaboration with Fidelity, BlackRock, State Street, and Franklin Templeton – is offering its advisor and wealth firm users more ways to diversify.
Deal volume increased post-election but now caution has taken over.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave
