Summit Financial Adds Meeder Wealth Management

Addition of Meeder’s $400 million wealth management arm validates Summit as industry-leading pathway to growth for registered investment advisors (RIAs)

PARSIPPANY, N.J.--(BUSINESS WIRE)--Summit Financial Holdings (“Summit”), ​​a leading architect of advisor success and client satisfaction for more than four decades, in collaboration with Merchant Investment Management (“Merchant”), announced that it has acquired an equity stake of the wealth management arm of Meeder Investment Management (“Meeder”). Meeder’s other business lines (including its Public Funds and Advisory Consulting divisions) are not part of this transaction and will remain part of the independently owned company. Meeder Wealth Management will now benefit from SummitVantage^TM, a proprietary, integrated platform with access to top-tier single sign-on technology, value-add services, and comprehensive support in operations and compliance. They will also have the opportunity to tap into a deep bench of professional strategy experts in financial planning, insurance and investments.

For more than 50 years, the Dublin, Ohio-based Meeder Wealth Management team has helped guide its clients towards financial success through personalized and comprehensive financial planning. The firm offers differentiated value-add services, including investment management services to high-net-worth and mass affluent clients, retirement plan solutions, and corporate investment solutions. Harnessing a wide range of investment disciplines and delivering best-in-class client service, Meeder’s Wealth Management business has amassed nearly $400 million in assets under management (AUM) to date.

“Having focused on the institutional side of our business, we needed to determine the future direction of our wealth management division. We considered several options: maintaining the status quo, investing to build it out ourselves, or finding partners to help elevate our wealth management business to become a national RIA. We decided to find the right partners, and selected Summit Financial and Merchant, and now believe we have established a world class partnership with the objective of driving growth and transforming the business into a multibillion dollar organization with partnerships across the nation” said Bob Meeder, President and CEO of Meeder Investment Management.

“We’re thrilled to welcome the Meeder Wealth Management team, supporting them in the delivery of nearly frictionless advice,” noted Stan Gregor, CEO of Summit Financial Holdings. “For these types of firms, which share a passion for growth while upholding a client-first mentality, Summit is a natural fit. We’re looking forward to empowering Meeder’s Wealth Management team for another fifty years of success.”

Summit offers top breakaway and independent advisors an opportunity to align with the firm through partnership options that provide unmatched flexibility and access to Summit’s suite of services, including technology, financial planning, investment management, insurance and operational support. Advisors joining Summit’s RIA maintain full ownership of their businesses.

Rob Blevins, Partner at Merchant, underscored the relationship's foundation, “Our association with Meeder began on a note of mutual admiration and shared ambition, naturally evolving into this alliance. We’re excited to see Meeder Wealth Management soar to new heights with this partnership.”

As part of this agreement, Meeder’s Wealth Management division will retain its branding and entire team. This includes Jason Click, CFP®, President; Mike Saraullo, Vice President; Mike Miller, Senior Wealth Advisor; Ryan Johnson, Senior Wealth Advisor; Tricia McDermott, Senior Wealth Coordinator; and Sara Story, Wealth Coordinator.

A 2023 Forbes and Barron’s Top 100 RIA Firm, Summit Financial remains committed to its founding principles of independence and comprehensive financial planning. Interested advisors and firm leaders can learn more about Summit Financial’s all-inclusive platform of fully integrated, industry-leading services, thought leaders and innovative technology—known as the SummitVantage™—at summitfinancial.com.

ABOUT SUMMIT FINANCIAL

As an independent financial services firm with legacy business from its predecessor going back over 40 years, Summit and its affiliates are proud to continue their vision of guiding clients toward financial success by aligning extensive experience with a forward-thinking philosophy, adapting to industry changes for the sake of best serving our clients now and well into the future. With customized, holistic, and hands-on advice, we help turn life’s aspirations into success stories. Our financial advice focuses on individual needs and values, not industry norms.

Summit Financial Holdings, LLC’s affiliated firms include, but are not limited to, Summit Financial, LLC, Summit Risk Management, LLC, Summit Advisory Services, LLC, Summit Services IT, LLC, and Summit Growth Partners, LLC.