Investment advisory firm Summit Financial has expanded its network of financial advisers by investing in New Jersey-based Gateway Advisory.
Gateway Advisory, which oversees assets under management (AUM) totalling $830m, marks Summit Financial’s 21st investment since 2024.
Established in 2010 by principals Brian Power, Jay Flamme, and Glenn Blachman, Gateway Advisory specialises in various financial services. These include tax planning, estate and wealth transfer planning, risk management, philanthropy, and cash flow and debt management.
Power said: “At Gateway, we believe managing wealth goes beyond investing. It’s about coordinating every aspect of a client’s financial picture to bring clarity and peace of mind.
“Summit provides the perfect balance of independence and support, allowing us to enhance our service offerings while preserving the highly personalised service our clients expect. Through this partnership, we can be even stronger advocates for their financial well-being, guiding them toward informed, confident decisions at every stage of life.”
Summit Financial aims to accelerate growth for entrepreneurial firms like Gateway Advisory by offering flexibility paired with a multi-family office ecosystem. This model is said to provide access to in-house expertise such as attorneys, tax specialists, investment strategists, and financial planners.
The integration will see Gateway Advisory’s team working alongside Summit Financial’s Parsippany office to ensure seamless client service.
Summit Financial CEO Stan Gregor said: “The addition of Gateway builds on our record-breaking momentum and underscores our commitment to empowering entrepreneurial advisers.
“We are dedicated to providing advisers the tools, resources and support needed to achieve scale without compromising identity or high-touch client service. We are eager to see the future growth and success that this partnership will bring.”
Earlier this year, Summit Financial announced that Genex Consulting has joined its network. Genex Consulting is a wealth management firm managing $700m in assets.
Over the course of 2024, Summit Financial completed 18 targeted investments while enhancing its workforce with the addition of 28 professionals. This expansion concluded with an increase of $8bn in AUM.
