Industry News

Summit Financial stakes $830m New Jersey RIA

Alec Rich / Mar 14, 2025
The investment is the 21st Summit has made since the beginning of 2024 through its partnership network, Summit Growth Partners.
Summit Financial continued its rapid pace of RIA investments on Friday, staking a fellow New Jersey-based firm. 
Summit made the investment in Gateway Advisory, an $830m AUM firm, via Summit Growth Partners, the RIA’s partnership network.
Specific financial terms of the deal — including the size of Summit’s stake — were not disclosed, but the Gateway team will join Summit’s headquarters in Parsippany as a result, the company said. 
Founded in 2010, Gateway is led by the trio of Brian Power, Jay Flamme and Glenn Blachman. The team, which specializes in a mix of investment advice, risk management, tax planning and estate planning, has four additional employees, according to its website. 
Brian Power - Gateway
‘Summit provides the perfect balance of independence and support, allowing us to enhance our service offerings while preserving the highly personalized service our clients expect,’ Power (pictured) stated.  
Since the beginning of 2024, Summit has invested in 21 firms, including Gateway. There are roughly 40 firms...
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