“Decades of Independence: How Summit Financial’s $10B Rise Proves Independence is Here to Stay”

The Rise of Independence: Summit Financial’s Decades-Long Success Story

Independence in the financial advisory world is often seen as a new and innovative model, but the reality is that it has been around for decades. Summit Financial, an independent firm established in 1982, is a prime example of the staying power and success that independence can offer in an industry known for its lack of stability.

While many advisors have recently made the leap to independence with the support of a growing ecosystem, Summit Financial has been thriving independently for years. The firm’s recent achievement of reaching $10 billion in assets, a 3X increase in just four years, is a testament to their ability to innovate and grow in a competitive market.

Ed Friedman, the Director of Business Development and Growth at Summit Financial, has played a key role in the firm’s success. With experience at major firms like Morgan Stanley, Hightower Advisors, and Dynasty Financial Partners, Ed brings a wealth of knowledge and insight to his work at Summit.

In a recent episode of The Diamond Podcast, Ed shares his perspective on the evolution of independent models, the value of a culture driven by advisors, and the keys to Summit’s remarkable growth. He also offers practical advice on growth strategies, outsourcing, and the importance of minority investors in driving success.

Summit Financial’s story is a unique one in the world of independence, showcasing how a firm with decades of experience can continue to thrive and adapt in a constantly changing industry. As more advisors consider making the leap to independence, Summit’s success serves as a beacon of inspiration and a testament to the enduring value of independence in the financial advisory world.

For a more in-depth look at Ed Friedman’s insights and the story behind Summit Financial’s rise, you can download the transcript of the podcast episode or listen to more episodes of The Diamond Podcast for Financial Advisors for further insights on transitions, independence, and advisor growth.