Summit Financial Holdings is expanding with the launch of Great Lakes Private Wealth, headquartered in Michigan.
This newly formed independent practice will be led by Daniel Murphy, who holds more than 10 years of experience at Wells Fargo and more than 30 at UBS.
In addition, Summit Growth Partners, a capital solution, has taken a minority stake in Great Lakes Private Wealth. This enables the firm to tap into its resources including exclusive diversified investment solutions, integrated top-tier technology, deep risk management capabilities, and essential operational support.
Furthermore, the collaboration will give Great Lakes access to highly trained and credentialed professional with investing, financial planning, and insurance expertise.
“After careful and deliberate consideration of the options available, it became crystal clear to us that becoming an independent firm and partnering with Summit Financial was the only choice worth making,” said Murphy.
“Summit Financial will empower us to provide an even higher level of client service that can help our clients navigate today’s ever-changing economic environment and thus, their financial lives. With Summit Financial’s approach and expertise, we couldn’t be more confident in our ability to serve our clients and scale and grow our firm.”
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Stan Gregor, CEO of Summit Financial Holdings, added: “Dan has been in business for 41 years, just like Summit, and I think it’s far more than coincidence that our paths have crossed. Longevity like that comes from a strong culture of client service and relationship-driven financial advice, and Dan brings the highest level of experience and integrity to his work. We are excited to welcome Dan and his team to the Summit family, where together we will continue to build legacies for current and future clients.”