Summit Scores $420M in Assets from Triple Deal
Summit Financial announced that advisors from three firms, Southeast Financial Group (SEFG), Radiance Private Wealth and Silvertree Retirement Planning, have joined its network as part of the firm’s partnership model Summit Growth Partners. The strategic investments bring the total to 16 for the year.
SEFG, Radiance and Silvertree can expect to benefit from Parsippany, NJ-based and Merchant Investment Management-backed Summit’s professional strategy team, which includes in-house attorneys, tax specialists, financial planning experts and investment management strategists. With these minority, non-controlling stakes, SEFG, Radiance and Silvertree will retain their original leadership and core teams.
Raleigh, NC-based SEFG was founded in 2001 and is led by founder and president Ed Secrest, who said joining Summit will enable the firm to expand and scale efficiently.
Radiance is led by founding partners and private wealth advisors Gautam Chhada and Randi Engelbrecht. The firm provides estate planning, financial planning, investments, insurance and business consulting to high-net-worth clients in Connecticut and New Jersey.
Stevens Point, WI-based Silvertree, led by CEO Jason Gilsczynski, provides wealth management services to the manufacturing industry.
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.
“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,” said Stan Gregor, CEO of Summit Financial Holdings.
In August, Summit, which manages over $15 billion in assets under advisement, announced it acquired an equity stake in the $400 million wealth management arm of Dublin, OH-based Meeder Investment Management.