Summit Wealth Group LLC

CRD#282205
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 a financial advisory company based in White River Junction, Vermont. The firm controls $499.7 million in assets throughout 1,351 accounts, making it one of the larger financial advisory firms in the United States by assets under management (AUM). The company has a small group, including 8 financial advisors. Summit Wealth Group LLC 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 is required to go through a broker-dealer company to do so. Securities are defined as exchangable financial investments like bonds, options and stocks.

    Summit Wealth Group LLC manages all of its client assets in a discretionary manner. Discretionary management is a structure in which a portfolio manager has the discretion to make buy and sell decisions without needing client permission. Summit Wealth Group LLC's average account size is $369,856. An average advisor at Summit Wealth Group LLC oversees around 169 client accounts.

    The firm's central office is located at 205 Billings Farm Road, White River Junction, Vermont 5001. It is legally allowed to serve clients across 7 states, including Colorado, Florida, Maine, Massachusetts, New Hampshire, New York and Vermont.

    Assets Under Management

    $499.7 million

    Number of Advisors

    8

    Disclosures

    No

    Office Location

    205 Billings Farm Road
    White River Junction, VT 05001

    Summit Wealth Group LLC by the Numbers

    Total Assets Under Management

    $499.7 million

    National Average: $8.6 billion
    Total Number of Employees

    11

    National Average: 64
    Total Number of Accounts

    1,351

    National Average: 375,227
    Average Account Size

    $369.9 thousand

    National Average: $23.0 thousand
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    Products and Services

    Summit Wealth Group LLC offers multiple services, which can consist of financial planning services, portfolio management for individuals and small businesses and selection of other advisers. In the past financial year, the firm provided 1-10 of its clients with financial planning services. The company does not sell products or offer services aside from investment advice to its investment advisory accounts.

    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 management fees are based on which services the firm provides the client. However, fees billed by Summit Wealth Group LLC likely include the following fee types: asset-based, hourly or fixed. Summit Wealth Group LLC does not supply a wrap fee program, in which the firm 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 firm caters to retail investors, high net worth investors and pension plans. Out of its 1,351 customers, Summit Wealth Group LLC's largest client by number of accounts is retail investors, though it also caters to 169 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 at least $1.50 million or who is considered a "qualified purchaser" (a standard met by having at least $5 million in investments). None of the firm's customers are non-U.S. persons.

    • High-Net-Worth Individuals* - 39.3%
    • Other Individuals - 59.3%
    • Corporations - 1.4%
    • 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

    Katherine Adams
    White River Junction, VT
    Andrew Schwarz
    White River Junction, VT
    Erik Randall
    White River Junction, VT
    Sarah Brookes-Governo
    White River Junction, VT
    Heather Meeks
    White River Junction, VT
    Erik Potts
    Exeter, NH
    Abigail Hurlburt
    White River Junction, VT
    Thomas Hartman
    White River Junction, VT

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