Kandor Global, an independent registered investment advisor (RIA) serving ultra-high-net-worth clients worldwide, has partnered with Summit Financial Holdings and Merchant Investment Management, through the newly created Summit Growth Partners (SGP).
SGP is an innovative custom capital solution launched by Summit Financial Holdings and Merchant Investment Management in January which combines upfront cash monetization with equity participation as well as exclusive partnership privileges. Based in Miami, SGP has taken a minority, non-controlling stake in Kandor Global, which now represents its 13th investment, and its first investment targeted toward serving international clients.
Meanwhile, with 450 million dollars in assets under management, Kandor Global was seeking an established strategic partner to propel growth initiatives, provide access to premier advisor and client resources, and expand in-house expertise and strategic capital.
“Our mission in establishing Kandor Global is to be a key wealth and investment management resource for the Latin American community at home and here in the U.S. We are seeing more and more highly successful Latin American entrepreneurs and families flock to the U.S. to expand their businesses and their wealth. We have the experience and resources through Summit Growth Partners to serve this specific subset of clients at the highest level and address their unique financial needs”, said his CEO, Guillermo Vernet.
Meanqhile, Stan Gregor, CEO of Summit Financial Holdings, pointed out that, with all the disruption that has taken place in the international wealth management space, they’ve been looking for the right firm to partner with that could deliver a “truly differentiated and customized” suite of services and solutions to advisors who cater to international clients. “We were very impressed with Kandor Global’s leadership team and are excited about our partnership”, he added.