Summit Wealth Group, LLC

CRD#166118
Investment Advisor Firm

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Learn more about Summit Wealth Group, LLC

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

    • Overview

    Summit Wealth Group, LLC is located at 9175 S Yale Avenue, Tulsa, OK. The firm employs 3 financial advisors to manage client portfolios and provide financial guidance. Summit Wealth Group, LLC is not a registered broker-dealer.

    Summit Wealth Group, LLC oversees $123.3 million in assets under management across 602 accounts, of which 573 are discretionary and 29 are non-discretionary. Over the past year, the firm has provided financial planning services to between 101 and 250 clients. The services offered include financial planning services and portfolio management for individuals and small businesses. The firm caters to retail investors and high net worth investors, with retail investors being the largest client type by accounts. The fee structure at Summit Wealth Group, LLC includes asset-based, hourly, and fixed fees. The firm has 37 high net worth clients and maintains affiliations with an accountant or accounting firm.

    Summit Wealth Group, LLC is registered in the states of Arizona, California, Colorado, Florida, New Hampshire, Oklahoma, and Texas.

    Assets Under Management

    $123.3 million

    Number of Advisors

    3

    Disclosures

    No

    Office Location

    9175 S Yale Avenue
    Tulsa, OK 74137

    Summit Wealth Group, LLC by the Numbers

    Total Assets Under Management

    $123.3 million

    National Average: $8.6 billion
    Total Number of Employees

    8

    National Average: 64
    Total Number of Accounts

    602

    National Average: 375,227
    Average Account Size

    $204.8 thousand

    National Average: $23.0 thousand
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    Products and Services

    Services provided by Summit Wealth Group, LLC include financial planning services and portfolio management for individuals and small businesses. In the past fiscal year, Summit Wealth Group, LLC provided financial planning services to 101-250 of its accounts. The Firm does sell products or offer services apart from investment advice to its customers.

    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

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    Fee Structure

    Financial advisory fees largely depend on the type of financial services provided. Fees charged by Summit Wealth Group, LLC may include any combination of the following fee types: asset-based, hourly, or fixed.

    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 provides services to retail investors and high net worth investors. Out of its 2 clients, Summit Wealth Group, LLC's largest client type by number of accounts is high net worth investors, though it also serves 37 high-net-worth individuals. A high-net-worth individual is defined by the SEC as a person who has at least $750,000 under management 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* - 17.05%
    • Other Individuals - 82.95%
    • 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 Wealth Group, LLC does not have any disclosures.

    Please visit its Form ADV for more details.

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    Financial Advisors at Summit Wealth Group, LLC

    Luke Spinardi
    Tulsa, OK
    Theodore Spinardi
    Tulsa, OK

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