Summit Financial Finishes 2024 Strong with Minority Stake in Gordon Asset Management, Representing Over $1.3 Billion in Combined Advisory and Retirement Plan Assets

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Summit amplifies presence in the Southeast, bolstering expertise in qualified retirement plans

You are viewing: Summit Financial Finishes 2024 Strong with Minority Stake in Gordon Asset Management, Representing Over $1.3 Billion in Combined Advisory and Retirement Plan Assets

PARSIPPANY, N.J., December 18, 2024–(BUSINESS WIRE)–Summit Financial (“Summit”), a preeminent investment advisory firm with over 40 years of experience* providing market-leading, multi-family office services that empower financial advisors to accelerate growth, today announced that Gordon Asset Management (“Gordon”) has joined its network. Summit’s innovative partnership model, Summit Growth Partners (“SGP”), has strategically invested in Gordon, marking its 18th strategic investment this year.

Gordon will now have access to Summit’s expansive network and comprehensive resources, including a wide range of investment strategies and alternative opportunities. Maintaining its original leadership and core team, Gordon will benefit from the support of Summit’s strategy group, which includes in-house legal advisors, tax professionals, financial planners and investment specialists. Additionally, the availability of supplemental capital from SGP highlights the model’s commitment to fostering sustainable, collaborative growth.

With offices in Durham and Pinehurst, North Carolina, Gordon is led by founder Joe Gordon, CFP^®, CPFA, CIMA, along with partners Glenn Moore, CFA, CFP^®, CAIA and Todd Zempel, QKA, AIFA, CPFA. The firm takes a holistic approach to financial planning, integrating workplace benefits with personal financial planning to serve individuals, families and businesses. With $220 million in assets under management (AUM), as well as approximately $1.1 billion in qualified plan assets, Gordon’s focus on 401(k) and other retirement plans will significantly enhance Summit’s capabilities in the retirement planning space.

“We view joining Summit as a strong vote of confidence in the service model we’ve built. 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 Joe Gordon, founder of Gordon Asset Management. “While we’ve always been a successful independent firm, this partnership is an exciting opportunity to accelerate our growth. By leveraging Summit’s advanced technology and expanded resources, we can further enhance our services, providing even more value to our clients and supercharging our ability to scale. We are excited to bring our expertise in the qualified plan market to the other Summit advisors and their clients.”

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“We are thrilled to deepen our investment in the Southeast region through our strategic partnership with Gordon Asset Management,” added Stan Gregor, CEO of Summit Financial Holdings. “Gordon’s deep expertise in managing corporate retirement plans will significantly enhance Summit’s capabilities in this vital area. This partnership underscores our ongoing commitment to broadening the scope and depth of our platform, offering comprehensive wealth management solutions through our advisor partners.”

A 2024 Forbes|SHOOK and Barron’s Top 100 RIA Firm, Summit is deeply committed to its founding principles of independence and powerful financial planning. Interested advisors and firm leaders can learn more about Summit’s all-inclusive platform of fully integrated industry-leading services, thought leaders and innovative technology—known as the SummitVantage™—at summitfinancial.com.

ABOUT SUMMIT FINANCIAL

Summit Financial (“Summit”) is a preeminent investment advisory firm with over 40 years of experience helping advisors elevate their businesses and deliver exceptional client experiences. Built by advisors for advisors, Summit champions independence while providing the tools, capital and resources needed to achieve growth and success.

Guided by a legacy of partnership, Summit and its affiliate firms prioritize personalized solutions and holistic financial planning tailored to individual needs and values. Whether it’s delivering objective advice to clients or offering advisors a pathway to long-term growth, Summit works to ensure that every offering reflects its commitment to independence and excellence. With a growing national footprint, Summit remains dedicated to turning aspirations into achievements and empowering advisors and clients alike to live life on their terms.

ABOUT SUMMIT GROWTH PARTNERS

Summit Growth Partners (“SGP”) is a partnership focused on making minority investments in high- quality advisory practices and firms. SGP provides capital and support to help advisors accelerate their growth, enterprise value and the ability to participate in future monetization events. SGP represents a truly aligned partnership model placing the advisors’ interest side by side with management and capital.

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*Summit Financial, LLC, a SEC Registered Investment Adviser established November 2018, is the successor firm to Summit Equities, Inc. (registered with the SEC in 1991) and Summit Financial Resources, Inc. (registered with the SEC in 1983) for all of their investment advisory and financial planning business.

Source: Forbes|SHOOK (October 2024) America’s Top RIA Firms. Barron’s 2024 Top RIA Firms (October 2024). Rankings were determined based on an evaluation process conducted by Forbes|SHOOK (Oct. 2023-Oct. 2024) and Barron’s (Data as of 3/31/2024). Summit Financial, LLC, did not pay a fee to obtain or use these rankings.

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