Veteran dealmaker Stan Gregor outlines best practices for advisors eager to unlock growth, maintain independence, and avoid costly mistakes
PARSIPPANY, N.J.–(BUSINESS WIRE)–As a wave of private equity investors floods the wealth management space pursuing acquisitions, Summit Financial, a $23 billion wealth management firm dedicated to empowering RIA growth, says advisors considering selling a minority stake to unlock growth must take care to find a buyer that shares their long-term goals and values.
Amid a sweeping wave of mergers and acquisitions, minority purchases are increasingly popular among independent advisors. Echelon Partners, a mergers and acquisitions (“M&A”) advisory firm focused on RIAs, reported that a significant share of 2025 deal activity involved minority purchases. DeVoe & Company found minority purchases account for roughly one in 10 RIA transactions. Cerulli Associates, a leading wealth management research firm, likewise observed an uptick in RIAs exploring partnerships.
There’s a good reason for this trend: minority investments enable selling advisory firms to gain access to capital and liquidity as well as superior technology and investment resources that can accelerate growth. Partial sales also enable sellers to preserve their independence, entrepreneurial drive, and client-first philosophy as they continue running their firms with greater support.
CEO Commentary
“Minority partnerships can be transformative when advisors choose the right partner, an investor that actively contributes to long-term value creation for all parties,” said Stan Gregor, Chairman and CEO of Summit Financial. “The most successful outcomes are built on mutual trust, full alignment of interests, and a shared long-term vision for business growth. I implore advisors to choose a partner who will contribute value beyond the check.”
Summit in 2020 became an early mover with the formation of Summit Growth Partners (“SGP”), an advisor partnership program to help financial advisors grow their practices. Summit and SGP have completed dozens of deals over the past five years, increasing client assets fivefold to more than $23 billion while expanding Summit’s national network of advisory offices to 23 states.
So far this year, Summit has announced partnerships with 11 advisory firms, including Parsons Broach, Crow Financial, Everest Consultants, Heritage Wealth Partners, and LPF Advisors.
The Minority Purchase Playbook
The most successful minority-interest partnerships, Gregor says, adhere to several key principles to ensure that selling advisory firms receive ongoing support to empower growth, including:
- Active Engagement by the investor. Good partners deliver ongoing operational support – from technology and compliance to business development – after they complete the transaction.
- Alignment with the strategic vision. Sellers should expect agreement from investors on their philosophy for delivering client service and pursuing growth.
- Additive capabilities and strengths. Investors should offer advisors access to superior technology, infrastructure, and resources that enhance existing offerings.
- Transparency and Trust. There should be open communication between partners about decision-making, reinvestment, and succession planning to avoid future conflicts.
- Long-Term Commitment. Successful minority partnerships should foster steady growth and enduring client relationships, not just quick returns.
Increased Same-Store Sales
The best strategic partnerships drive long-term, enhanced performance for both parties after the deal closes and the check clears. Gregor emphasized that roughly half of Summit’s overall business expansion comes from ongoing “organic” growth, through increased share of wallet, increased new-client onboarding, and the expansion of client portfolios.
What RIAs want to avoid are investors who drain resources and offer no benefits in return, he said.
Business Development Commentary
“We view minority partnerships as a better way for advisors to remain independent entrepreneurs while gaining access to resources and achieving greater success,” said Keith Soltis, ChFC®, Chief Business Development Officer of Summit Financial. “It’s all about finding the right partner. Advisors should expect buyers to expand, not restrict, what’s possible by structuring deals that benefit both parties over the long haul.”
Summit Continues to Receive Independent Recognition
Summit on Oct. 1 climbed three spots to Number 31 on the 2025 Forbes | SHOOK Top RIA rankings, developed by Forbes and SHOOK Research to spotlight the industry’s top firms based on revenue growth, AUM, compliance, industry experience, quality of practice, and other factors. Neither firm receives compensation for placement in the ranking, now in its fourth year.
Last month, Summit was named to the prestigious Barron’s Top 100 RIA Firms list for a fourth consecutive year. Summit advanced 15 spots to No. 35 from last year, earning recognition for growth, quality of practice, and other key metrics. The Barron’s ranking, now in its 10th year, highlights the nation’s leading independent advisors with the goal of raising industry standards.
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.
Summit Financial, LLC, an SEC-registered investment adviser (“RIA”) established in 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. Summit Financial, LLC, is wholly owned by Summit Financial Holdings, LLC (“SFH”), which is owned by Stanley Gregor and Merchant Wealth Management Holdings 3, LLC (“MWMH”). MWMH is wholly owned by Merchant Wealth Partners, LLC, which is wholly owned by Merchant Investment Management, LLC. Minority investments are made by SFH.
A 2025 Forbes|SHOOK and Barron’s 2025 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 SummitVantage™, Summit’s all-inclusive platform of fully integrated industry-leading services, thought leaders, and innovative technology, at summitfinancial.com.
Forbes|SHOOK (October 2024) America’s Top RIA Firms and Barron’s 2025 Top 100 RIA Firms (Sept. 15, 2025). Rankings were determined based on proprietary evaluation processes conducted by Forbes|SHOOK and Barron’s. Summit Financial, LLC, did not pay a fee to obtain or use these rankings.
Contacts
MEDIA CONTACT
Chapman Communications Group
For Summit Financial
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