Parsippany-based Summit Financial recently announced an investment in Montgomery, Ala.-based Parsons Broach Financial Services to further accelerate its growth momentum.
Summit made the strategic investment
The investment was made through Summit’s partnership model, Summit Growth Partners. Since early 2024, Summit has invested in 26 firms led by growth-minded advisors.
“For over 40 years, we’ve championed advisors who embrace independence as a better way to serve clients and take ownership of their life’s work,” Stan Gregor, chairman and CEO Summit Financial Holdings said. “We’re thrilled to bring such high-quality advisors as Todd Parsons and Robbie Broach into the Summit family. They serve values-driven clients who wish to grow, protect, and use their wealth meaningfully.”
Established in 2011, Parsons Broach is led by founding partners and wealth advisors Todd Parsons and Robbie Broach whose decades-long friendship and professional collaboration shapes their firm’s client-first approach and culture. The firm manages more than $250 million in assets and offers a comprehensive suite of services including financial planning, investment management, retirement planning, estate planning, risk management, and charitable giving strategies.
“Joining Summit is a strategic move that enables us to offer even more resources, technology, and support to enhance the level of service we provide our clients,” Broach said. “We’re now better positioned to drive strong, sustainable growth while keeping our focus exactly where it belongs – on our valued clients.”
“The addition of Parsons Broach underscores Summit’s commitment to equipping breakaway advisors with the tools, technology, and strategic support essential for their success,” Keith Soltis, Summit Financial’s head of growth and business development said. “We’re excited to collaborate and enable our partners to deliver tailored client solutions and unlock the full potential of their firm.”
