Summit Trail Advisors, LLC

CRD#220519
Investment Advisor Firm

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Learn more about Summit Trail Advisors, LLC

  • Overview
  • By the Numbers
  • Products and Services
  • Fee Structure
  • Types of Clients
  • Disclosures
  • State Registrations
  • Office Locations
  • Firm Advisors

    • Overview

    Summit Trail Advisors, LLC operates as a financial advisor company headquartered in New York, New York. It handles $14.5 billion in assets under management across 4,953 client accounts, making it one of the largest firms in the United States by assets under management (AUM). The firm has an average-sized team, including 27 financial advisors. Summit Trail Advisors, LLC does not act as a registered broker-dealer, meaning the advisor cannot buy and sell securities for its own accounts as well as its clients' and instead is required to go through a broker-dealer firm to do so. Securities are defined as tradable financial assets like bonds, options and stocks.

    Summit Trail Advisors, LLC administers most of the firm's client assets in a discretionary manner. Discretionary management is a structure in which buy and sell judgments for the client's account are made by a portfolio manager without needing the client's authorization. Summit Trail Advisors, LLC also administers 1,377 non-discretionary accounts with a total of $9.0 billion in assets under management. The company's typical account size is $2.9 million. The average advisor at Summit Trail Advisors, LLC administers about 183 client accounts.

    The firm's headquarters is located at 2 Grand Central Tower, New York, New York 10017. The company is legally registered to provide services to clients across 33 U.S. states and territories.

    Assets Under Management

    $14.5 billion

    Number of Advisors

    27

    Disclosures

    No

    Office Location

    2 Grand Central Tower
    New York, NY 10017

    Summit Trail Advisors, LLC by the Numbers

    Total Assets Under Management

    $14.5 billion

    National Average: $8.6 billion
    Total Number of Employees

    93

    National Average: 64
    Total Number of Accounts

    4,953

    National Average: 375,227
    Average Account Size

    $2.9 million

    National Average: $23.0 thousand
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    Products and Services

    Summit Trail Advisors, LLC offers multiple financial services, which can consist of financial planning services, portfolio management for individuals and small businesses, portfolio management for institutional clients, pension consulting services, selection of other advisers and other services. However, Summit Trail Advisors, LLC did not provide financial planning services to any of its customers in the previous fiscal year. The company is engaged in selling products or offering services aside from investment advice to its clients. Summit Trail Advisors, LLC also has a number of financial industry affiliations, including with a broker-dealer or securities dealer.

    Core Advisor Services

    • Offered by 31% of firms

      Financial Planning Services

      This is the process of planning for your financial future, including for events such as retirement, your child's college education or estate succession.

    • Offered by 46% of firms

      Portfolio Management

      This is the selection and management of an investment mix and portfolio strategy for individuals and small businesses.

    • Find a firm that offers this service

      Market Timing Services

      This is the practice of attempting to make short-term profits on investments by buying low and selling high.

    Other Services

    • Offered by 20% of firms

      Selection of Other Advisors

      This is the firm's assistance with choosing other advisors to work with who may have different specialties.

    • Find a firm that offers this service

      Publication of Periodicals

      This is the publication of various financial education materials.

    • Find a firm that offers this service

      Educational Seminars/Workshops

      This is the hosting of seminars or workshops to educate investors on financial concepts.

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    Fee Structure

    Financial advisory fees typically depend on the type of services offered. Fees charged by the firm likely include the following fee structures: asset-based, hourly or fixed. Summit Trail Advisors, LLC does participate in a wrap fee program, in which the firm offers a service bundle for a single fee.

    Available

    • Offered by 69% of firms

      Percentage of Assets

      Show Explanation

      This fee, which is the most common fee type charged by advisors for portfolio management, is based on the amount of assets you have under management. Also referred to as an asset-based fee, this fee typically ranges from 0.50%-2.00% of AUM annually. You'll typically pay a lower rate the more assets you have under management.

    • Offered by 21% of firms

      Hourly

      Show Explanation

      Like a lawyer, a financial advisor may charge you by the hour. This can be helpful if you are only looking for short-term or one-time advice. Rates typically range from $100-$300 per hour, depending on the complexity and level of services needed.

    • Offered by 32% of firms

      Fixed

      Show Explanation

      Fixed fees are a one-time, lump sum charged for a specific service, like the creation of a financial plan without subsequent implementation. This can be useful if you only need advice for one specific purpose, rather than a long-term advisor. Fixed fees usually range from $1,000 to $3,000.

    Unavailable

    • Find one of the 1% of firms that offer this fee type

      Commissions

      Show Explanation

      Occasionally, advisors earn commissions from selling financial products, such as securities or insurance policies, or making certain referrals or transactions. Advisors who earn commissions may be incentivized to make certain recommendations to clients in order to make a commission. Fee-only advisors do not earn commissions, while fee-based advisors may.

    • Find one of the 26% of firms that offer this fee type

      Performance-based

      Show Explanation

      Advisors only earn performance-based fees if a portfolio outperforms a defined benchmark. This fee may be calculated in a number of ways but most commonly is charged as a percentage of investment profits. Performance-based fees may incentivize advisors to make riskier decisions in order to generate higher returns.

    • Find one of the 0% of firms that offer this fee type

      Subscription

      Show Explanation

      Firms generally charge this fee for educational materials provided, such as a monthly magazine. This can be useful if you want to learn about investing or financial management on your own.

    • Find one of the 10% of firms that offer this fee type

      Other

      Show Explanation

      Firms can sometimes charge customers using non-traditional fee structures. See this firm's Form ADV for more details.

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    Types of Clients

    The firm does business with a broad range of customers. The company works with retail investors, high net worth investors, pension plans, charitable organizations and corporations. Out of its 4,953 clients, Summit Trail Advisors, LLC's largest client group by number of accounts is high net worth investors, although it also serves 1,064 high-net-worth individuals. A high-net-worth individual is defined by the SEC as someone who has at least $750,000 under management or a net worth of at least $1.50 million or who is considered a "qualified purchaser" (a standard met by having at least $5 million in investments). Just 1% of its accounts reside abroad.

    • High-Net-Worth Individuals* - 56.24%
    • Other Individuals - 16.65%
    • Corporations - 21.93%
    • Charitable Organizations - 5.18%

    * The U.S. Securities and Exchange Commission (SEC) defines a high-net-worth individual as someone who has at least $750,000 under management.

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    Disclosures

    Summit Trail Advisors, LLC does not have any disclosures.

    Please visit its Form ADV for more details.

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    Financial Advisors at Summit Trail Advisors, LLC

    Jonathan Wilson
    Corte Madera, CA
    Dominick Trapasso
    New York, NY
    Sarah Silverio
    New York, NY
    Brandon Inglis
    New York, NY
    Michelle Rudd
    New York, NY
    Seth Katz
    New York, NY
    Adam Betancourt
    New York, NY
    John Saxe
    New York, NY
    Jonathan Nickow
    Chicago, IL

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