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June 23, 2021

Stratos Wealth Enterprises invests in Orlando-based Summit Wealth Partners

By Verdict Staff

Stratos Wealth Enterprises, part of Stratos Wealth, has made a strategic investment in Orlando-based RIA Summit Wealth Partners , which manages $600m in assets.

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Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
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Financial details of the investment were not disclosed.

Summit provides wealth management for retirees and pre-retirees, with focuses on financial planning, tax strategies and cash flow planning.

The is headquartered in Orlando, Florida, with offices in Naples and Grand Rapids. It has a team of 18 employees, including six financial advisers.

As part of the investment, Stratos is acquiring a non-voting, minority stake in Summit, which will continue to be led by co-presidents and CEOs Jason Print and Chad Warrick.

Print and Warrick, along with Summit general counsel William Kovacs, will retain stakes in the firm.

Stratos’ investment will enable Summit to enhance its client service and operational capabilities.

Summit will use the investment to expand through the enlistment of new clients and to scale up the wallet-share of current clients and hire more advisors to its platform.

Stratos president Lou Camacho said: “We are thrilled to join with Summit as we invest in the growth and expansion of this truly dynamic firm.

“Jason and Chad are the type of young, growth-minded advisors we enjoy collaborating with – they are smart and strategic in their approach to running their business, enhancing their capabilities, and offering their clients a top-notch technology and service experiences.”

Commenting on the development, Print added: “We chose to partner with Stratos because the team there structured a deal that gives Chad and I the freedom and flexibility to run our business in the way we choose while leveraging Stratos’ significant scale, resources, and expertise.”

Last year, Stratos made a strategic investment in Brown Wealth Management headquartered in San Diego, California.

Free Report
img

Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
Enter your details here to receive your free Report.

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