Summit Financial Acquires Minority Stake in Prostatis Financial


December 21, 2023

On December 11, 2023, Summit Financial Holdings announced that it had acquired a minority stake in Prostatis Financial Advisors Group.

Under the terms of the transaction, Summit Financial Holdings (“Summit”) announced that it had made a strategic minority stake investment in Prostatis Financial Advisors (“Prostatis”). Further terms of the deal were not disclosed.

Summit, based in Parsippany, New Jersey, is a registered investment advisor with several affiliated firms including Summit Financial, LLC, Summit Risk Management, LLC, Summit Advisory Services, LLC, Summit Services IT, LLC, and Summit Growth Partners, LLC. As of October 2023, Summit has approximately $2.5 billion in assets under management.

Prostatis, based in Hanover, Maryland, is a registered investment advisor providing accountable retirement, tax, and estate planning. As of December 2023, Prostatis has $310 million in assets under management.

To read the report: please click here.


The opinions expressed are those of the author(s) and do not necessarily reflect the views of the firm or its clients, or any of its or their respective affiliates. This article is for general information purposes and is not intended to be and should not be taken as legal advice.