Investment advisory firm Summit Financial has invested in Gateway Advisory, a New Jersey-based firm managing $830m in assets.
This investment marks Summit’s 21st since the beginning of 2024, with financial specifics of the transaction remaining undisclosed.
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Gateway Advisory, established in 2010, is headed by principals Brian Power, Jay Flamme, and Glenn Blachman.
The firm’s expertise spans investment advice, tax planning, risk management, and wealth transfer planning.
The team from Gateway Advisory will integrate with Summit’s Parsippany office.
Summit growth and business development head Keith Soltis said: “Gateway has established a remarkable reputation for fostering deep client relationships and delivering comprehensive financial planning.
“With Summit’s support, they now have the resources and infrastructure to amplify their impact while continuing to deliver the bespoke service their clients trust. We’re excited to see what’s next for them.”
Summit’s model offers a blend of independence and support, providing access to in-house legal, tax, financial planning, and investment strategy experts.
Summit Financial Holdings CEO Stan Gregor said: “The addition of Gateway builds on our record-breaking momentum and underscores our commitment to empowering entrepreneurial advisors.
“We are dedicated to providing advisors 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.”
In December 2024, Summit Financial expanded its presence in Chicagoland by acquiring Midway Wealth Partners. This deal was executed as part of Summit’s partnership model, Summit Growth Partners.
