Summit Financial Expands with Strategic Investments in Wealth Firms
Summit Financial Expands Its Impact in Wealth Management
Summit Financial, a leading investment advisory firm, has successfully added $470 million in assets through strategic minority stakes in two wealth management firms. This move is part of Summit's ongoing commitment to empowering financial advisors and enhancing client service. With over 40 years of experience, Summit has a proven track record in offering multi-family office services designed to accelerate growth for financial advisors.
Significant Partnerships with BFG Wealth and Canon Capital
The recent investments involve BFG Wealth and Canon Capital Wealth Management, both recognized for their strong client-centric approaches. These partnerships are pivotal, marking the 12th and 13th strategic investments made by Summit this year through its innovative partnership model, Summit Growth Partners (SGP). This exclusive model encourages advisor growth and promotes collaboration between advisors.
Benefits of the Strategic Investments
By collaborating with Summit, BFG and Canon can tap into a vast network and leverage extensive resources that Summit provides—unlocking a wealth of investment solutions and alternative investment opportunities. The professional strategy team at Summit includes in-house attorneys, tax specialists, and seasoned investment management strategists, making a significant difference for both firms.
BFG Wealth, under the leadership of its CEO Ralph Burnett, currently manages nearly $190 million in AUM. The firm utilizes a holistic approach to financial planning, helping high-net-worth clients navigate retirement, estate, and business planning challenges, while expanding their private market investments.
Insights from BFG and Canon's Leadership
Ralph Burnett expressed enthusiasm about the partnership: "Partnering with Summit will empower BFG to elevate our growth trajectory and enhance client service. With access to their extensive network, we can deliver tailored financial solutions." This approach perfectly aligns with Summit's objective of fostering long-term growth and success for its affiliated firms.
Canon Capital, led by Dr. Peter Roland, has achieved substantial growth, amassing over $280 million in AUM. Canon Capital provides a range of services, including financial and estate planning, investment management, and consulting services tailored for high-net-worth individuals.
Dr. Peter Roland highlighted the opportunities that this partnership brings: "Partnering with Summit opens up a world of possibilities for Canon Wealth. This alliance will enhance our capacity to deliver exceptional service and innovative solutions. Our team is excited to continue growing professionally and adapt to the changing industry landscape."
A Focus on Flexibility and Independence
Summit's model offers breakaway and independent advisors like BFG and Canon an excellent opportunity to align with the firm while preserving significant flexibility. Vetted advisors gain access to a comprehensive suite of multi-family office style services, which includes financial planning, investment management, operational support, and technological resources necessary for thriving in today’s financial landscape.
The Growing Summit Family
Summit Financial Holdings is excited to welcome BFG and Canon into its growing family. CEO Stan Gregor remarked, "These new additions expand our national presence, and we are thrilled to support their growth and success. Each firm embodies the entrepreneurial spirit we cherish at Summit, ensuring clients continue receiving trusted services from familiar teams while accessing Summit’s wealth of resources to enhance their offerings."
Summit remains committed to its founding principles of independence and innovative financial planning. Its all-inclusive platform, known as SummitVantage™, is designed to provide advisors with the industry-leading tools and services needed to excel.
About Summit Financial
Summit Financial stands as an independent financial services firm with a legacy stretching back over 40 years. The firm is resolute in its vision to guide clients toward financial success through extensive experience and a forward-thinking philosophy. By offering customized, holistic, and hands-on financial advice tailored to individual needs, Summit enables clients to transform their aspirations into reality.
As the successor to several investment advisories established since the early 1980s, Summit Financial, LLC, remains dedicated to adapting to industry changes and providing exceptional service to its clients, now and well into the future.
Frequently Asked Questions
What inspired Summit Financial's recent investments?
Summit Financial aimed to enhance its services and expand its portfolio by partnering with BFG Wealth and Canon Capital, two firms recognized for their client-focused approaches.
How much did Summit Financial invest in BFG Wealth and Canon Capital?
Summit Financial invested $470 million in total, taking minority stakes in both firms, signaling its commitment to empowering financial advisors and improving client service.
What is Summit Growth Partners?
Summit Growth Partners is Summit’s innovative partnership model that focuses on fostering growth and collaboration among financial advisors, providing unique investment opportunities.
How does the partnership benefit BFG Wealth and Canon Capital?
The partnership allows these firms to access Summit's expansive resources and professional strategy team, enhancing their ability to deliver tailored financial solutions and investment opportunities.
What does Summit Financial offer to advisors?
Summit Financial provides a full suite of multi-family office services, including investment management, financial planning, insurance, and operational support, all while allowing advisors to maintain ownership of their practices.
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