GlobalData
1 min read
Summit Financial has picked a stake in Parsons Broach Financial Services as part of its strategy to expand its national partnership network through Summit Growth Partners.
The move marks Summit’s 26th investment since early 2024.
The firm offers advisors the tools, capital, and resources required to drive growth while helping them maintain operational independence.
Summit Financial chairman and CEO Stan Gregor said: “For over 40 years, we’ve championed advisors who embrace independence as a better way to serve clients and take ownership of their life’s work.
“We’re thrilled to bring such high-quality advisors as Todd Parsons and Robbie Broach into the Summit family. They serve values-driven clients who wish to grow, protect, and use their wealth meaningfully.”
Parsons Broach Financial Services, based in Montgomery, Alabama, oversees more than $250m in client assets.
The company offers services such as financial planning, investment management, retirement and estate planning, risk mitigation, and charitable giving strategies.
Todd Parsons and Robbie Broach lead the firm, which they co-founded in 2011.
The team said their decision to separate from Raymond James and align with Summit was driven by the need for “sustainable” growth and preserve a client-focused culture.
Broach said: “Joining Summit is a strategic move that enables us to offer even more resources, technology, and support to enhance the level of service we provide our clients.
“We’re now better positioned to drive strong, sustainable growth while keeping our focus exactly where it belongs – on our valued clients.”
In March this year, Summit Financial invested in New Jersey’s Gateway Advisory, managing $830m in assets.
"Summit Financial invests in Parsons Broach Financial Services" was originally created and published by Private Banker International, a GlobalData owned brand.
The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
