Summit Financial Takes Minority Stake in $1.3B NC Asset Manager  

Summit Financial, through its partnership model, Summit Growth Partners (SPG), has taken a minority stake in Gordon Asset Management, marking its 18th strategic investment this year. Gordan manages $220 million in client assets, as well as approximately $1.1 billion in qualified plan assets. 

Financial terms of the deal were not disclosed. 

Gordon, which has offices in Durham and Pinehurst, NC, will maintain its original leadership and core team, including founder Joe Gordon, along with partners Glenn Moore and Todd Zempel. 

“One of the most important factors in our decision was the retention of local operating control and the assurance to our clients of who will be leading the firm the next 20-25 years, both Todd and Glenn,” said Gordon. 

Summit offers breakaway and independent advisors an opportunity to align with the firm through partnership options. Affiliate firms gain access to Summit’s multi-family office-style services, including technology, financial planning, investment management, insurance and operational support. 

Advisors joining Summit maintain full ownership of their businesses, and those who meet certain criteria are invited to join SGP. Additionally, these advisors can choose from multiple custodial providers.  

Parsippany, NJ-based Summit Financial, through SGP, has announced four additional strategic investments over the past several weeks, including a minority stake in Midway Wealth Partners, Southeast Financial Group (SEFG), Radiance Private Wealth and Silvertree Retirement Planning.