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Summit Financial Enhances Open-Architecture Private Markets Offering, Supporting Advisors with Suite of High-Net-Worth Services

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Business Wire

Addition of integrated, alternative investment solutions to help advisors attract and retain high-net-worth clients, further strengthening their competitive edge

PARSIPPANY, N.J., April 17, 2024–(BUSINESS WIRE)–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.

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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.

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