Summit Financial announced a minority investment in Ivy Wealth Management worth more than $500 million in client assets.
Ivy Wealth Management is led by Brad Ingegneri, who founded the Rhode Island firm after 10 years with Merrill Lynch. Ivy has served high net worth businesses and families in the Northeast.
The investment is the continued effort of Summit’s strategy to expand exclusively through minority-stake purchases in independent advisory firms. This approach to M&A enables principals of selling firms to retain control while gaining resources to accelerate growth.
Since early 2024, Summit has completed 27 partnership transactions, including 14 this year, and now oversees more than $25 billion in client assets.
Summit CEO Stan Gregor explained the value of the partnerships.
“Partnerships like these aren’t just about dollars,” he said. “They enable growth-minded firms to collaborate, innovate, and strengthen our community for the future. Brad and his team have built something special, putting clients first, navigating markets with insight, and delivering results with consistency and care.”
Likewise, Ivy President Brad Ingegneri saw the future benefits.
“We built Ivy to deliver personalized, sophisticated guidance that brings greater peace of mind for our clients,” he said. “By partnering with Summit, we’re taking our client-first service to a whole new level. Ivy can now draw on deeper resources and capabilities, including enhanced technology and investment management platforms, to drive better outcomes for the families we serve.”
