Summit Financial takes minority stake in Miami-based RIA Kandor Global
PARSIPPANY, NJ – (BUSINESS WIRE) – Summit Financial Holdings, through Summit Growth Partners, acquired a non-controlling minority stake in Kandor Global, a Miami-based Independent Registered Investment Advisor (RIA) and multi-family office serving high net worth clients around the world. Created by Summit Financial Holdings and Management of market investments (Merchant), Summit Growth Partners (SGP) is an innovative new personalized equity solution that combines initial cash monetization with equity participation as well as exclusive partnership privileges. Kandor Global represents SGP’s 13th investment and its first investment to serve international clients.
Led by CEO Guillermo Vernet, Kandor Global provides sophisticated investment advisory solutions, personalized reporting and complex estate planning for its high net worth global clients – focusing on serving Latin American entrepreneurs and families living in their home country or domiciled in the USA.
Kandor Global sought an established strategic partner to propel growth initiatives, provide access to leading advisors and client resources, and develop internal expertise and strategic capital.
“With all the disruptions that have taken place in the international wealth management space, we were looking for the right company to invest in and partner with in order to offer a truly differentiated and personalized suite of services and solutions to advisors who are address internationally. customers ”, said Stan gregor, CEO of Summit Financial Holdings. “We have been very impressed with the leadership team at Kandor Global and are delighted with our partnership.”
As a partner of SGP, Kandor Global will leverage Summit’s in-depth management expertise, access to growth capital as well as its comprehensive platform of financial, estate and tax planning resources, as well as its support and personalized management of investments.
“Our mission in establishing Kandor Global is to be a key wealth management and investment resource for the Latin American community here and in the United States,” Vernet noted. “We are seeing more and more entrepreneurs and very successful Latin American families flocking to the United States to develop their businesses and their wealth. We have the experience and resources of Summit Growth Partners to serve this specific subset of clients at the highest level and meet their unique financial needs. ”
Advisors interested in aligning with the Summit should visit www.SummitFinancial.com.
About Summit Financial
Affiliates of Summit Financial Holdings, LLC 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 company for nearly 40 years, Summit and its affiliates pride themselves on continuing to guide their clients to financial success by aligning their vast experience with a forward-thinking philosophy, adapting to changes in the world. industry in order to better serve our customers. now and well into the future. With personalized, holistic and practical advice, we turn life’s aspirations into success stories. Our financial advice focuses on individual needs and values, not industry standards. To learn more about our firms, please visit our website at www.SummitFinancial.com.
Summit Financial, LLC, an SEC-registered investment adviser, a wholly-owned subsidiary of Summit Financial Holdings, established in November 2018, is the successor company of Summit Equities, Inc. (SEC-registered in 1991) and Summit Financial Resources, Inc. (registered with the SEC in 1983).
Investment advice, financial planning services and products are provided by Summit Financial LLC, an investment advisor registered with the SEC. Insurance products and services are provided by Summit Risk Management, LLC. Summit Growth Partners, LLC and Summit Service IT, LLC do not provide any financial products or services.
About Kandor Global
Kandor Global is an independent Registered Investment Advisor (RIA) serving high net worth clients worldwide through a wide range of services: multi-family office, wealth management and private market advisory. The company is based in Miami with an extended reach in Latin America and Europe. Kandor Global is backed by Summit Growth Partners, LLC (“SGP), a partnership between Summit Financial Holdings and Merchant Investment Management. To learn more, visit our website: www.kandorglobal.com.
About Merchant Investment Management, LLC
Merchant is a private partnership that provides growth capital, management resources, strategic opportunities and direction to independent financial services companies, particularly those focused on wealth and asset management. For more information, please visit www.merchantim.com.