Summit Financial Invests in $830M NJ Firm 

Summit Financial revealed that Gateway Advisory, a New Jersey-based firm managing $830 million in assets, has joined via Summit Growth Partners, the RIA’s partnership network. The transaction marks Summit’s 21st strategic investment since January 2024. 

The specific financial details of the deal, including the size of Summit’s stake in Gateway Advisory, were not disclosed. However, the Gateway team will relocate to Summit’s headquarters in Parsippany as part of the agreement 

Founded in 2010 and led by principals Brian Power, Jay Flamme, and Glenn Blachman, focuses on investment advice, tax planning, risk management, estate and wealth transfer planning, philanthropy, and cash flow and debt management. 

“Summit provides the perfect balance of independence and support, allowing us to enhance our service offerings while preserving the highly personalized service our clients expect,” said Power. 

Summit Financial supports entrepreneurial firms by merging independent flexibility with a robust multi-family office framework, offering access to in-house attorneys, tax experts, financial planners, and investment strategists. 

The Gateway Advisory deal is among Summit Financial’s latest investments, following the December 2024 disclosure that serial RIA investor Merchant Investment Management acquired a majority stake in Summit. Merchant had held a minority position in Summit since 2019. 

In December, Summit Financial, through its partnership model, Summit Growth Partners (SPG), announced it had taken a minority stake in Gordon Asset Management. Gordan manages $220 million in client assets, as well as approximately $1.1 billion in qualified plan assets.