Summit Financial invests in Parsons Broach Financial Services to expand partnership network

From Yahoo Finance: 2025-05-23 10:14:00

Summit Financial has acquired a stake in Parsons Broach Financial Services to expand its national partnership network through Summit Growth Partners. This is Summit’s 26th investment since early 2024, providing advisors with tools, capital, and resources for growth while maintaining operational independence.

Parsons Broach Financial Services, based in Montgomery, Alabama, manages over $250m in client assets. Co-founded in 2011 by Todd Parsons and Robbie Broach, the firm offers financial planning, investment management, retirement and estate planning, risk mitigation, and charitable giving strategies.

The decision to separate from Raymond James and align with Summit was driven by the need for sustainable growth and to maintain a client-focused culture. This strategic move enables Parsons Broach Financial Services to offer more resources, technology, and support to enhance client service and drive strong, sustainable growth.

In March, Summit Financial invested in New Jersey’s Gateway Advisory, managing $830m in assets. Summit Financial continues to expand its investment portfolio to support advisors who prioritize independence and client-focused service.

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