On November 25, 2024, Summit Financial, LLC announced its minority stake investments in Southeast Financial Group, Inc., Radiance Private Wealth and Silvertree Retirement Planning.
Summit Financial, LLC (“Summit”) announced, on November 25, 2024, that it acquired minority stakes in Southeast Financial Group, Inc. (“Southeast”), Radiance Private Wealth, LLC (“Radiance”), and Silvertree Retirement Planning (“Silvertree”). Southeast, Radiance and Silvertree will retain their original leadership and core teams. Further terms of the deals were not disclosed.
Summit, based in Parsippany, New Jersey, is a registered investment advisor specializing in advanced financial planning, investment management and insurance services. As of December 2024, Summit had approximately $11.5 billion in regulatory assets under management.
Southeast, based in Raleigh, North Carolina, is an independent registered investment advisory firm helping clients implement attainable and easy-to-follow strategies to plan, build, and protect their wealth. As of July 2024, Southeast had $177.8 million in regulatory assets under management.
Radiance, based in Westwood, New Jersey, is a private wealth advisory firm providing comprehensive wealth management services, including estate planning, financial planning, investments, insurance and business consulting, to address the varied needs of its high-net-worth clients.
Silvertree, based in Stevens Point, Wisconsin, is a private wealth management firm providing wealth management services to the manufacturing industry. As of November 2024, Radiance and Silvertree together had approximately $302 million in assets under management between the two firms.
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