Episode summary
How RIA Leaders Can Prepare for Growth, Technology and AI with Stan Gregor
Summary
Stan Gregor argued that Summit Financial’s growth came from fixing the foundation first: the firm paused recruiting for three years, rebuilt technology and service infrastructure, and then scaled from about $3.5 billion in 2020 to well over $30 billion today. He said roughly 60% of that growth came from new teams, while 40% came from organic growth, which he sees as evidence that the RIA model can deepen client relationships when advisors are given the right tools.
A major theme was that technology and cybersecurity are no longer optional support functions. Gregor said Summit chose to bring engineering, data security, and technology resources in-house, even though that costs more, because control and protection of client information matter more than outsourcing convenience. He also said the firm had already invested for mobile and remote work before COVID-19, which helped advisors continue serving clients without interruption.
Gregor framed AI as the next major inflection point, not a replacement for advisors but a filter that will reward those who use it well. He expects AI to reduce manual work, make advisors more efficient, and raise the value of judgment, communication, and experience. In his view, younger talent will enter the profession with more knowledge at its fingertips, but success will still depend on combining that knowledge with human advice and relationship skills.
Key takeaways
- Gregor said Summit shut down recruiting for 3 years to rebuild technology, infrastructure, and advisor support before scaling.
- He said about 60% of Summit’s growth came from new teams and 40% from organic growth, showing the model can deepen existing relationships.
- Gregor said Summit brought technology and data security in-house because protecting client information and controlling execution matter more than outsourcing convenience.
- He said Summit’s pre-COVID mobile and remote-work investment helped advisors keep serving clients when the pandemic hit.
- Gregor said AI will not replace advisors, but advisors who embrace it will outperform those who do not.
Notable quotes
“we shut down recruiting for 3 years and and I'll share with you why”
“I didn't know COVID was taking place, but I I wanted to empower all the functionality out in the field right there in real-time”
“we made a bold decision to bring technology resources in-house versus outsourcing them, which is easier”
“I don't think AI is going to replace the advisors, but the guys and gals that use it are going to flourish”
“There's always a better way to do it, right? You you have to keep thinking, there has to be a better way to do it”
How the episode opens
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Hi, I'm Suzanne Siracuse. Welcome to season 4 of my podcast focused on the future, keys to building a profitable, sustainable, and impactful business. I'm excited to be partnering with Wealth Management on this.
This series will focus on what firms need to embrace to ensure their growth and success for the future. And you'll hear from in- industry leaders and advisors on what's working for them. I have a great lineup of guests in store, and today I'm speaking with Stan Gregor.
Stan is the CEO and chairman of Summit Financial and has over 30 years of experience across banking, wealth management, and investment firms. Summit Financial is nearly a $30 billion RIA firm that serves more than 17,000 households nationwide. We're going to talk about how it got there and more today.
So, welcome, Stan. Great to see you, and thanks so much for being my guest today.
Uh Suzanne, thank you. Great to see you as well. Thanks for having me. — Of course. Of course. So, um I always like to start with the same question for those that that are listening on a uh frequent basis, and that's at the beginning. How did you actually get into working at an RIA, running an RIA?
From the episode’s captions: roughly the first two minutes, lightly cleaned. Keep watching on YouTube →
Topics
- ria growth
- advisor support
- technology and cybersecurity
- ai for advisors
- infrastructure readiness
Companies and tickers mentioned
- Summit Financial
Watch the episode
Watch “How RIA Leaders Can Prepare for Growth, Technology and AI with Stan Gregor” on YouTube
Summary, takeaways and quote selection by Octagon. Quotes are short excerpts; the full conversation is in the episode.
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