Summit Investment Advisory Services Aligns With Merchant Investment Management by Way of Minority Equity Ownership
Minnesota based RIA will enhance durability and propel advisor growth initiatives through its new partnership
NEW YORK--(BUSINESS WIRE)--Summit Investment Advisory Services announced its partnership with Merchant Investment Management, an alignment that will support the firm’s specialized service offering for retirement planning and also bring focus to Summit as a destination firm for like-minded advisors.
In business for more than 30 years, the firm provides a sophisticated client experience from offices throughout Minnesota, Wisconsin, and Florida. Summit offers integrated financial and retirement income planning, investment management, estate, and tax planning services. A key initiative was solidifying the platform with tools and capital solutions for advisor growth.
“We sought a partner who understood our business and who could bring more to the partnership than just capital. The industry expertise and investment approach at Merchant really gave us confidence,” said Summit President Sean McDermott, CFP. “Merchant’s strategic M&A resources come with a partnership structure that gives us freedom of choice and lets us focus on best serving our clients and attracting more outstanding talent.”
Merchant aligns with its partner firms through long-term minority investment, an approach that today represents a community of private partnerships. Merchant says the Summit Investment Advisory Services partnership is one that focuses on retirement planning, along with financial strategies that can be leveraged no matter the age or planning phase of a client.
“With 10,000 Americans turning 65 every day and retirements growing longer, there is a real need for quality financial planning and retirement income strategies,” said Merchant Managing Director Rob Schimmel. “The comprehensive service offering and expertise of the Summit team deliver a personalized financial partnership for clients and their families.”
“This is a long-term investment in the continued success and growth of Summit Investment Advisory Services, an independent registered investment advisor,” said Merchant Managing Partner Tim Bello. “This is a time-tested advisory firm that is already firing on all cylinders, and our partnership with Summit allows them to invest in their own business, capitalize on growth opportunities, and serve comprehensive, personalized advice to clients.”
Securities offered through LPL Financial, Member FINRA/SIPC. Investment advice offered through Summit Investment Advisory Services, a registered investment advisor. Summit Investment Advisory Services and Merchant Investment Management are separate entities from LPL Financial.
About Summit Investment Advisory Services
Summit Investment Advisory Services is a team of experienced financial professionals specializing in retirement planning. Summit understands that individuals face unique challenges as they prepare for retirement and can help define a proactive approach to plan for today and tomorrow. Whether preparing for retirement income, college savings, or estate strategy, Summit’s personalized service focuses on client needs, wants, and financial goals and objectives. For more information, please visit https://www.summitinvest.com/
About Merchant Investment Management, LLC
Merchant is a private partnership providing growth capital, management resources, strategic opportunities, and direction to independent financial services companies, particularly those focused on wealth and asset management. For additional information, please visit www.merchantim.com.
Contacts
Media:
Ann Marie Gorden
Gregory FCA for Merchant Investment Management
annmarie@gregoryfca.com
267-249-7765 (cell)