Many advisors still consider independence to be a “new” model, yet they’re decades off the mark.
Independence has gained incredible steam recently, catalyzed by a continually growing ecosystem born to support breakaway advisors, making the leap much less difficult and far more attractive.
While we often share the narratives of the advisors who made the leap to independence, many of their stories offer a perspective on a business less than a decade old.
But this story is different because Summit Financial is an independent firm that launched in 1982. With decades under its belt, the firm has demonstrated that independence is the real deal, with the staying power to thrive in an industry that notoriously lacks stability and continuity.
And what’s of greater significance is the fact that they’ve continued to innovate and grow—proven by the firm’s 3X rise to $10 billion in assets in the last four years.
So, what’s behind this tremendous growth? And what does the future hold for Summit Financial?
Ed Friedman, the Director of Business Development and Growth at Summit, joins the episode to answer that and more.
Ed is best positioned to offer a glimpse into the firm’s secret sauce to success. He’s charged with winning over advisors who have their sights set on greater freedom and flexibility, but aren’t interested in building their own independent firm.
In the episode with Louis Diamond, Ed offers a unique point of view on the industry and his own journey, as well as:
- His decades of experience with some of the biggest names in the business: Morgan Stanley, Hightower Advisors, and Dynasty Financial Partners—and how that influences his work with Summit today.
- The evolution of independent models—and how Summit’s trajectory has changed over the years.
- The value of a culture driven by advisors—and how that creates a differentiator between Summit and other supported independence models.
- The keys to Summit’s extraordinary growth—and what made the last few years some of the most successful in the firm’s history.
Plus, Ed shares actionable advice on growth, outsourcing, the value of minority investors, and more—with essential insights for advisors and business owners alike.
Download a transcript of this episode…
