Summit Financial Enhances Open-Architecture Private Markets Offering, Supporting Advisors with Suite of High-Net-Worth Services
April 17 2024 - 11:00AM
Business Wire
Addition of integrated, alternative investment
solutions to help advisors attract and retain high-net-worth
clients, further strengthening their competitive edge
Summit Financial Holdings (“Summit”), a leading
architect of advisor success and client satisfaction for over four
decades, today announced enhancements to its private markets
offering. The augmented approach is now fully set to equip advisors
with institutional-quality resources, combining the bespoke service
of a boutique firm with the breadth and depth of larger
institutional offerings. Its completion is timely, coming at a time
when financial advisors and their high-net-worth (HNW) clients are
increasingly turning to alternative investments in search of
diversification and higher returns.1
Summit has strategically addressed this opportunity by
introducing a robust open-architecture platform for private
markets, enabling advisors to seamlessly access a broad array of
alternative investments on behalf of their clients. Led by
co-CIO Noreen Brown, CFA, this initiative aims
to further differentiate client portfolios with the potential for
higher returns and reduced exposure to market volatility while also
empowering advisors with a competitive edge. By integrating access
to leading platforms like Opto Investments and Arch,
Summit positions advisors to confidently navigate the complexities
of private markets, enabling them to increase wallet share among
existing clients and attract new HNW clientele.
“At Summit, we pride ourselves in our client-first approach.
Building on our foundation of holistic financial planning and open
architecture, we're proud to announce the launch of our private
markets offering,” said Stan Gregor, CEO of Summit
Financial Holdings. “This initiative, supported by partnerships
with firms such as Opto Investments and Arch, aims to give our
advisors the tools they need to construct more dynamic and
resilient portfolios. It reflects our continuous effort to adapt
and grow in ways that support advisors in serving their clients'
best interests.”
The newly launched platform empowers Summit advisors with access
to private equity, private credit, real estate and venture capital
opportunities. In addition to platform offerings, Summit can also
offer certain deals directly, providing clients with institutional
share classes at lower minimums and fees. Despite the
administrative challenges often associated with private markets,
including inconsistent data and reporting, the digital
infrastructure provided by Arch helps to ensure that Summit
advisors can enjoy security, efficiency and standardization when
allocating to alternatives.
“We’re delighted to support Summit by removing many of the
administrative challenges often associated with alternative
investments,” added Ryan Eisenman, co-founder and CEO of
Arch. “Our integrated platform serves as a central hub, giving
advisors and their clients on demand access to their K-1s,
reporting data, capital calls, distributions and other documents.
It also provides actionable insights, including AI summaries of
manager commentary. This reduces the administrative burden on
advisors and their support staff, enabling them to dedicate more
time to what they do best: creating value for their clients.”
Summit has also established a deep bench of investment
professionals to assist advisors in designing model portfolios
tailored to each client’s unique risk tolerance and liquidity
needs. This effort is complemented by mentorship sessions led by
seasoned Summit advisors, who share their strategies for
effectively implementing and allocating various asset classes.
One of these mentors, Summit wealth advisor Joe Spada,
CFP, commented: “As advisors, we are not just tasked with
understanding the nuances of various asset classes but also in
communicating them effectively to clients across multiple
generations. The private markets offering from Summit is
instrumental in this process, delivering a suite of compelling
investment opportunities and the support needed to convey their
value and risks effectively. By embracing the full value of the
Summit private markets offering, advisors stand to deepen existing
relationships, retain multi-generational clients and grow their
businesses.”
Summit’s investment offerings are designed to appeal to
investors seeking a mix of traditional and innovative options. Its
lineup includes everything from mutual funds and exchange traded
funds (ETFs) to private equity, real estate investment trusts
(REITs), separately managed accounts (SMAs) and more. The
investment team at Summit, rich in experience and credentials,
offers institutional-quality access and analysis, ensuring clients
have the resources to navigate the investment landscape
confidently. Summit's comprehensive toolkit, which supports risk
management and rebalancing along with regular economic and
financial updates, helps to ensure that clients are well positioned
to pursue their investment goals in a rapidly changing market
environment.
_____________________________ 1 The Cerulli Report—U.S.
High-Net-Worth and Ultra-High-Net-Worth Markets 2022: Shifts in
Alternative Allocations.
https://www.cerulli.com/press-releases/high-net-worth-investors-embrace-alternative-investments
ABOUT SUMMIT FINANCIAL
As an independent financial services firm with legacy business
from its predecessor going back over 40 years, Summit and its
affiliates are proud to continue their vision of guiding clients
toward financial success by aligning extensive experience with a
forward-thinking philosophy, adapting to industry changes for the
sake of best serving our clients now and well into the future. With
customized, holistic, and hands-on advice, we help turn life’s
aspirations into success stories. Our financial advice focuses on
individual needs and values, not industry norms.
Summit Financial Holdings, LLC’s affiliated firms include, but
are not limited to, Summit Financial, LLC, Summit Risk Management,
LLC, Summit Advisory Services, LLC, Summit Services IT, LLC, and
Summit Growth Partners, LLC. For more information, visit
summitfinancial.com.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240417573678/en/
StreetCred PR Summitfinancial@streetcredpr.com
Jimmy Moock 610-304-4570 Jimmy@streetcredpr.com
Natalie O’Dell 717-818-2116 Natalie@streetcredpr.com