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Summit Financial Takes Minority Stake in Newly Formed Advocus Private Wealth

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[September 29, 2021]

Summit Financial Holdings (“Summit”), a financial services firm for top independent and breakaway advisors, will fuel the launch of Advocus Private Wealth (“Advocus”), an independent advisory team serving athletes, executives, and multi-generational families. Advocus becomes Summit Growth Partners’ 17th investment in less than nine months.

As an affiliated member of Summit Growth Partners, Advocus will also adopt SummitVantage™, an all-inclusive platform of fully integrated industry-leading services, thought leaders, and innovative technology to support the launch, operation, and growth of the new business.

Advocus has opened offices in Columbus, Ohio and Charlotte, North Carolina, and is led by founding partners Steve Vujevich and Matthew Anderson, both based in Columbus. Charlie Robinson has joined as a Private Wealth Advisor and will work from the firm’s Charlotte location. The team at Advocus previously managed $400 million in client assets. Vujevich and Anderon transitioned to independence approximately one year ago after leaving Merrill Lynch. Advocus chose Summit for the strength of its advisor support and tangible service improvements that their clients will now receive.

“We came to realize that our initial move to independence did not provide the excellent level of resources and support that we expected, and our clients deserved,” Vujevich said. “Therefore, we conducted extensive due diligence to identify a partner who could offer a broad spectrum of in-house talent to support us with comprehensive financial planning and other key capabilities as well as tech solutions and who would help us exceed, rather than simply meet, client expectations of service and value-add. Summit Financial hit the mark on every front,” said Vujevich.

Advocus chose their name to reflect their mission of advocating for clients. As fiduciaries, they always strive to act in the best interests of the families they serve and coordinate their financial lives to grow their wealth for today and tomorrow.

“Steve, Matt and Charlie focus every day to provide an exceptional experience for their clients. After a year of independence, they realized they needed a stronger support and service model to meet their clients’ expectations. After significant due diligence on their part, they saw value in the depth of resources and wealth management capabilities we can bring to bear for their clients’ benefit, so it was a natural fit for us and them as they look to grow their business,” said Stan Gregor, CEO of Summit Financial.

About Summit Financial Holdings

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.

As an independent financial services firm with legacy business from its predecessor going back almost 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 turn life’s aspirations into success stories. Our financial advice focuses on individual needs and values, not industry norms. To learn more about our firms, please visit our website at www.SummitFinancial.com.

Advocus Private Wealth provides investment advisory and financial planning products and services through Summit Financial, LLC, an SEC (NewsAlert) registered investment advisor.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210929005533/en/

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