PARSIPPANY, N.J.--(BUSINESS WIRE)--Summit Financial Holdings (“Summit”), a prominent financial services firm for top independent and breakaway advisors, is expanding its reach to Michigan with the launch of Vardhan Wealth Management (“Vardhan”). Vardhan is aligning with Summit by becoming the 14th firm to join Summit Growth Partners, an innovative custom capital solution that combines cash monetization with equity participation as well as exclusive partnership privileges. Vardhan will also become an affiliate partner providing them with access to a fully integrated suite of services and technology solutions, which will support the launch, operation, and growth of the new business.
Based in Farmington Hills, Michigan, Vardhan is founded by industry veteran Monish Verma, who has spent more than 25 years in the financial services industry, most recently as Senior Vice President at UBS, where he led the Verma Wealth Management Group. Previously, he was with Morgan Stanley and Smith Barney.
Joining Verma will be longtime associates, Renee Wahl as Director of Operations and Kory Frost as Director of Planning and Strategy. Collectively, the team oversaw more than $375 million in assets while at UBS.
“At Summit, we are constantly looking to align with growth-oriented advisors who embrace the client-first mentality and possess the entrepreneurial spirit and drive to succeed that characterizes the brand that Summit, through its affiliates and predecessors, has spent over 38 years building. Verma exemplifies that philosophy,” said Ed Friedman, Director of Business Development and Growth, Summit Financial LLC. “We are thrilled to partner with Vardhan Wealth Management to deliver the support they need to provide their clients an elevated experience,”
“While we enjoyed significant growth at our previous firm, we knew the independent space would enable us to do more for our clients. Aligning with a firm like Summit was compelling for many reasons,” remarked Verma. “I wanted the opportunity to grow my business and thrive on my own, and I knew I needed a partner with the resources to help me deliver first-class service for my clients. Summit stood out as the answer by providing me with solutions that go well beyond that of a typical wealth management firm, while also granting me the freedom to run my business independently.”
Summit offers top independent and breakaway 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. Advisors who qualify can become partners in Summit Growth Partners.
“We built SummitVantage™ so that advisors and their clients could flourish regardless of the challenges they face,” added Stan Gregor, CEO of Summit Financial Holdings. “We have forever focused on the spirit of long-term partnership empowering advisors to eliminate operational burdens and to refocus on what matters most: building a business that can create a legacy and that best supports client needs. We look forward to partnering with Vardhan Wealth Management as they realize their vision for independent, relationship-driven advice to help their clients protect wealth and prosperity through holistic and tailored financial planning and investment strategies.
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 for almost 40 years through its predecessor, Summit and its affiliates are proud to continue their legacy 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.
Vardhan Wealth Management advisory and financial planning business is provided through Summit Financial, LLC, an SEC registered investment advisor.
