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 is located at 2 Grand Central Tower, New York, NY. The firm employs 28 financial advisors to manage client portfolios and provide financial guidance. Summit Trail Advisors, LLC is not a registered broker-dealer.

    Summit Trail Advisors, LLC oversees $17.7 billion in assets under management across 10,249 accounts, of which 7,613 are discretionary and 2,636 are non-discretionary. The services offered include 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. The firm caters to retail investors, high net worth investors, pension plans, charitable organizations, and corporations, with high net worth investors being the largest client type by accounts. The fee structure at Summit Trail Advisors, LLC includes asset-based, hourly, and fixed fees. The firm has 1,650 high net worth clients and maintains affiliations with a broker-dealer or securities dealer.

    Summit Trail Advisors, LLC is registered in the states of Alabama, Arizona, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Hawaii, Illinois, Indiana, Iowa, Louisiana, Maryland, Massachusetts, Michigan, Minnesota, Missouri, Nevada, New Hampshire, New Jersey, New York, North Carolina, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Virginia, Washington, Wisconsin, and Wyoming.

    Assets Under Management

    $17.7 billion

    Number of Advisors

    28

    Disclosures

    No

    Office Location

    2 Grand Central Tower
    New York, NY 10017

    Summit Trail Advisors, LLC by the Numbers

    Total Assets Under Management

    $17.7 billion

    National Average: $8.6 billion
    Total Number of Employees

    95

    National Average: 64
    Total Number of Accounts

    10,249

    National Average: 375,227
    Average Account Size

    $1.7 million

    National Average: $23.0 thousand
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    Products and Services

    Summit Trail Advisors, LLC provides 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. Notably, Summit Trail Advisors, LLC did not provide financial planning services to any of its accounts in the last financial year. The Company does sell products or offer services apart from investment advisory services to its clients.

    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

    A financial advisor's fees usually are based on which service is provided. Fees charged by Summit Trail Advisors, LLC can consist of some blend of the following fee types: asset-based, hourly, or fixed. The company participates in a wrap fee program, in which the company offers a bundle of services for a comprehensive 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 company works with a number of different customers. The company caters to retail investors, high net worth investors, pension plans, charitable organizations, and corporations. Out of its 5 clients, Summit Trail Advisors, LLC's biggest client group by number of accounts is high net worth investors, but it also manages money for 1650 high-net-worth individuals. The SEC defines a high-net-worth individual as an individual who has at least $750,000 in AUM or a net worth of at least $1,50 million or who is deemed a "qualified purchaser" (a standard met by having at least $5 million in investments).

    • High-Net-Worth Individuals* - 68.46%
    • Other Individuals - 3.32%
    • Corporations - 23.11%
    • Charitable Organizations - 5.1%

    * 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 Nickow
    Chicago, IL
    Adam Betancourt
    New York, NY
    Justin Waterman
    New York, NY
    Jonathan Wilson
    Corte Madera, CA
    Sarah Silverio
    New York, NY
    Dominick Trapasso
    New York, NY
    David Hultman
    San Francisco, CA
    Michelle Rudd
    New York, NY
    Brandon Inglis
    New York, NY

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    The content in this profile was updated by SmartAsset on 6/19/2024. All advisor details come from publicly available data, and we cannot guarantee the accuracy of the content. We are unable to make individual profile updates. If you want your profile removed temporarily or permanently, please contact profile-compliance@smartasset.com.

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