Summit Financial, LLC
Answer a few questions and
get matched with an advisor.
Learn more about Summit Financial, LLC
Overview
Summit Financial, LLC operates as an advisory firm that has its headquarters in Parsippany, New Jersey. It administers $6.2 billion in assets across 11,930 client accounts, placing it among the largest investment advisory firms in the country by assets under management (AUM). The firm has a large group, including 67 financial advisors. Summit Financial, LLC does not act as a registered broker-dealer, meaning the advisor is not able to buy and sell securities for its own accounts as well as its clients' and instead has to go through a broker-dealer firm to do so. Securities are tradable fiscal investments such as bonds, equities and options.
Summit Financial, LLC manages some of its accounts on a discretionary basis. Discretionary management signifies that a portfolio manager makes transaction decisions without requiring the client's approval. The company also administers 6,266 non-discretionary accounts totaling $3.7 billion in AUM. The advisory firm manages roughly $515,854 in assets for each account. An average advisor at Summit Financial, LLC oversees about 178 client accounts.
Summit Financial, LLC's main office is at 4 Campus Drive, Parsippany, New Jersey 7054. Summit Financial, LLC is legally registered to serve investors throughout 49 U.S. states and territories.
Assets Under Management
Number of Advisors
Disclosures
Office Location
Summit Financial, LLC by the Numbers
$6.2 billion
226
11,930
$515.9 thousand
Products and Services
Summit Financial, LLC provides a number of services, which can consist of financial planning services, portfolio management for individuals and small businesses, pension consulting services and selection of other advisers. In the past fiscal year, Summit Financial, LLC provided financial planning services to 101-250 of its customers. It does not sell products or offer services other than investment advice to its investment advisory clients. It is affiliated with a number of other service providers in the financial services industry, including with a broker-dealer or securities dealer and insurance company or agency.
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.
Fee Structure
A financial advisor's fees largely depend on the type of services provided. However, fee types charged by the company can be comprised of any combination of the following fee types: asset-based or fixed. Wrap fee programs, or the practice of bundling services for a single fee, are provided by the firm.
Available
-
Offered by 69% of firms
Percentage of Assets
-
Offered by 32% of firms
Fixed
Unavailable
-
Find one of the 21% of firms that offer this fee type
Hourly
-
Find one of the 1% of firms that offer this fee type
Commissions
-
Find one of the 26% of firms that offer this fee type
Performance-based
-
Find one of the 0% of firms that offer this fee type
Subscription
-
Find one of the 10% of firms that offer this fee type
Other
Types of Clients
It provides services to retail investors, high net worth investors, pension plans and corporations. Out of its 11,930 clients, Summit Financial, LLC's biggest client group by number of accounts is retail investors, but it also caters to 892 high-net-worth individuals. The SEC defines a high-net-worth individual as someone 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). Just 1% of its clients are represented by people from outside of the U.S.
- High-Net-Worth Individuals* - 20.48%
- Other Individuals - 78.47%
- Corporations - 1.06%
- Charitable Organizations - 0%
* The U.S. Securities and Exchange Commission (SEC) defines a high-net-worth individual as someone who has at least $750,000 under management.
Find an advisor who will work directly with you
Sometimes a big firm may not be able to give you the one-on-one service that you need. That's where we come in to help match you with great personal financial advisors. Click here to find your advisor matches today.
Disclosures
Summit Financial, LLC does not have any disclosures.
Please visit its Form ADV for more details.
Find a financial advisor near you
If you're interested in working with an advisor closer to you, we can help you find one. Click here to find your advisor matches today.
Financial Advisors at Summit Financial, LLC
Parsippany, NJ
Parsippany, NJ
Farmington, MI
Parsippany, NJ
Parsippany, NJ
Parsippany, NJ
Parsippany, NJ
Parsippany, NJ
Parsippany, NJ
Not sure which advisor is right for you? Use our matching tool
Our matching tool simplifies the process of finding a financial advisor. To match you with top financial advisors nearby, we ask you a series of questions about your retirement plans, life status, investment goals and advisor preferences, which are all important topics to consider when choosing a financial advisor. Click here to find your advisor matches today
The content in this profile was updated by SmartAsset on 4/16/2023. 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.
The named financial professional and firm have not reviewed, approved, or endorsed this profile and are not responsible for its accuracy. Profile content is produced by SmartAsset independently of any business relationships that might exist between SmartAsset and the named financial professional and firm. Financial professionals and firms having business relationships with SmartAsset receive no special treatment or consideration in SmartAsset’s profiles.
This profile may include a firm or advisor that has a business relationship with SmartAsset, in which SmartAsset is compensated for lead referrals. SmartAsset is not a client of the aforementioned firms or advisors. SmartAsset did not receive compensation for including any of the firms or advisors in the aforementioned profile.
This page contains links to SmartAsset’s financial advisor matching tool, which may or may not match you with the advisor or firm mentioned in this profile. The matching tool does not include all available advisors and firms and matches based on specific criteria (investable assets, geography, and willingness to work with a remote advisor).
Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the certification marks CFP® and CERTIFIED FINANCIAL PLANNER™ in the United States, which it authorizes the use of by individuals who successfully complete CFP Board’s initial and ongoing certification requirements.