Investment advisory firm Summit Financial has acquired a minority stake in Midway Wealth Partners through its partnership model, Summit Growth Partners (SGP).
This move marks Summit Financial’s 17th investment this year, further accelerating its expansion efforts.
Based in the US, Midway Wealth Partners manages approximately $550m in assets. The firm specialises in offering an independent and personalised approach to wealth management.
Midway Wealth Partners offers a range of wealth management services, including financial planning, investment management, insurance solutions, trust and estate tax planning, and business transition and succession strategies.
Through the new partnership, Midway Wealth Partners will retain its leadership team and continue operating independently while gaining access to Summit Financial’s resources and network.
Midway Wealth Partners will leverage the investment advisory firm’s professional strategy team comprising in-house attorneys, tax specialists, financial planners, and investment strategists.
The partnership also offers access to Summit Financial’s diverse investment solutions, alternative opportunities, and supplemental capital to support long-term growth.
As part of this arrangement, Midway Wealth Partners will also have the flexibility to work with multiple custodial providers.
Midway Wealth Partners co-founder and managing partner Richard Babjak said: “Partnering with Summit marks a pivotal moment in our growth, enabling us to deepen relationships with clients and help them achieve their financial goals in new and meaningful ways.
“With Summit’s extensive resources and expertise, we can continue to deliver the thoughtful, customised guidance our clients trust while expanding the breadth of services we provide.”
Summit Financial’s partnership model is designed to empower entrepreneurial, client-focused advisers by offering flexible affiliation arrangements.
Advisers retain full ownership of their businesses while benefiting from Summit Financial’s comprehensive suite of multi-family office services, which include operational support, technology, financial planning, and investment management.
Summit Financial CEO Stan Gregor said: “We’re thrilled to expand Summit’s presence in Illinois by bringing together two organisations united by a shared vision of dynamic wealth management.”
