Summit Financial Advisors, Inc
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Overview
Summit Financial Advisors, Inc operates as an advisory company located in Middletown, Ohio. It controls $166.9 million in assets throughout 405 customer accounts, making it a mid-tier financial advisory firm in the United States by assets under management (AUM). The firm has a small team, including 4 financial advisors. Summit Financial Advisors, Inc does not act as a registered broker-dealer, meaning it cannot buy and sell securities for its own accounts as well as its customers' and instead has to go through a broker-dealer firm to do so. Securities are defined as tradable fiscal assets such as options, bonds and equities.
Summit Financial Advisors, Inc administers 369 of its client assets in a discretionary manner. Discretionary management is a structure in which transaction decisions are made by a portfolio manager without needing to seek the client's approval. The firm also administers 36 non-discretionary accounts totaling $3.4 million in assets under management. The investment advisory firm's typical account size is $412,054. The average advisor at Summit Financial Advisors, Inc manages around 101 client accounts.
The firm's main office is located at 300 N. Main Street, Middletown, Ohio 45042. The firm is registered to serve investors across 2 states, including California and Ohio.
Assets Under Management
Number of Advisors
Disclosures
Office Location
Summit Financial Advisors, Inc by the Numbers
$166.9 million
4
405
$412.1 thousand
Products and Services
Summit Financial Advisors, Inc offers a number of financial services, which can consist of financial planning services, portfolio management for individuals and small businesses and pension consulting services. In the prior fiscal year, Summit Financial Advisors, Inc provided financial planning services to 101-250 of its customers. Summit Financial Advisors, Inc does not sell products or offer services other than investment advice to its investment advisory accounts.
Core Advisor Services
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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.
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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.
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Market Timing Services
This is the practice of attempting to make short-term profits on investments by buying low and selling high.
Other Services
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Selection of Other Advisors
This is the firm's assistance with choosing other advisors to work with who may have different specialties.
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Publication of Periodicals
This is the publication of various financial education materials.
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Educational Seminars/Workshops
This is the hosting of seminars or workshops to educate investors on financial concepts.
Fee Structure
Fees for financial management largely depend on the services provided. Fee types billed by the company can include any combination of the following fee structures: asset-based, fixed or commission-based. The company does not provide a wrap fee program, in which the firm offers a bundle of services for a single fee.
Available
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Offered by 69% of firms
Percentage of Assets
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Offered by 1% of firms
Commissions
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Offered by 32% of firms
Fixed
Unavailable
Types of Clients
Summit Financial Advisors, Inc caters to retail investors and high net worth investors. Out of its 405 customers, Summit Financial Advisors, Inc's largest client by number of accounts is retail investors, though it also caters to 44 high-net-worth individuals. The SEC defines a high-net-worth individual as a person who has at least $750,000 under management or a net worth of more than $1.50 million or who is deemed a "qualified purchaser" (a standard met by having at least $5 million in investments). None of the company's accounts reside abroad.
- High-Net-Worth Individuals* - 39.64%
- Other Individuals - 60.36%
- Corporations - 0%
- 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.
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Disclosures
Summit Financial Advisors, Inc does not have any disclosures.
Please visit its Form ADV for more details.
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Financial Advisors at Summit Financial Advisors, Inc
Lebanon, OH
Lebanon, OH
Lebanon, OH
Lebanon, OH
Middletown, OH
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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.
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