On January 31, 2025, Summit Financial announced that Merchant Investment Management took a majority stake in its firm.
Summit Financial (“Summit”) announced on January 31, 2025, that Merchant Investment Management, LLC (“Merchant”) took a majority stake in its firm, increasing Merchant’s original minority stake in Summit. Further terms of the transaction were not disclosed.
Merchant, based in New York, is an alternative asset management firm that also invests in and serves as a lender to registered investment advisors. Merchant manages approximately $180 billion in client assets.
Summit, based in Parsippany, New Jersey, is a registered investment advisor that specializes in advanced financial planning, investment management and insurance services, as well as providing a platform service business. As of December 2024, Summit had approximately $20 billion in assets.
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