Summit Financial Welcomes Great Lakes Private Wealth to its Expanding Advisor Network

Led by industry veteran Daniel P. Murphy, CFP^®, Great Lakes Private Wealth builds on decades of service excellence with expanded resources and technology from Summit

Summit Financial Holdings (“Summit”), a top firm for values-driven independent and breakaway advisors, is expanding its regional footprint with the launch of Great Lakes Private Wealth (“Great Lakes”). Headquartered in Farmington Hills, Michigan, this newly formed independent practice is led by founder and chief investment officer Daniel P. Murphy, CFP^®, who previously spent more than 10 years at Wells Fargo and more than 30 at UBS.

Joining Murphy in launching the new venture are longtime associates Patrick Patin, CFA^®, partner and portfolio manager; Carla Stamps, wealth relationship manager; Anne Nordloh, wealth relationship manager; and Melissa Hauer, director of client experience. Collectively, this team oversaw more than $400 million in assets under management (AUM) while at Wells Fargo.

As part of this launch, Summit Growth Partners, an innovative custom capital solution that combines upfront cash monetization with equity participation as well as exclusive partnership privileges, has taken a minority stake in Great Lakes Private Wealth. This will enable Great Lakes to tap into world-class resources including exclusive, diversified investment solutions; integrated top-tier technology; deep risk management capabilities; and essential operational support. In addition, the affiliation with Summit will afford Great Lakes and its clients access to highly trained and credentialed professionals with investing, financial planning and insurance expertise.

“After careful and deliberate consideration of the options available, it became crystal clear to us that becoming an independent firm and partnering with Summit Financial was the only choice worth making,” said Murphy. “Summit Financial will empower us to provide an even higher level of client service that can help our clients navigate today’s ever-changing economic environment and thus, their financial lives. With Summit Financial’s approach and expertise, we couldn’t be more confident in our ability to serve our clients and scale and grow our firm.”

Stan Gregor, CEO of Summit Financial Holdings, added, “Dan has been in business for 41 years, just like Summit, and I think it’s far more than coincidence that our paths have crossed. Longevity like that comes from a strong culture of client service and relationship-driven financial advice, and Dan brings the highest level of experience and integrity to his work. We are excited to welcome Dan and his team to the Summit family, where together we will continue to build legacies for current and future clients.”

A 2022 Forbes and Barron’s Top 100 RIA Firm, Summit Financial remains committed to its founding principles of independence and powerful financial planning. Interested advisors and firm leaders can learn more about Summit Financial’s all-inclusive platform of fully integrated industry-leading services, thought leaders and innovative technology—known as the SummitVantage™—at summitfinancial.com.

ABOUT SUMMIT FINANCIAL

As an independent financial services firm with legacy business from its predecessor going back over 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 help turn life’s aspirations into success stories. Our financial advice focuses on individual needs and values, not industry norms.

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.

Great Lakes Private Wealth advisory and financial planning business is provided through Summit Financial, LLC, an SEC registered investment advisor.

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This will enable Great Lakes to tap into world-class resources including exclusive, diversified investment solutions; integrated top-tier technology; deep risk management capabilities; and essential operational support.