Summit Asset Management LLC

RIASEC Registered

Total AUM

$1.1B

Discretionary

$966M

89% of AUM

Avg account

$709K

Accounts

1,522

Employees

Advisory reps

Firm details

Headquarters: Memphis, Tennessee
CRD number: 109606
Registered since: January 21, 1999
Website: www.summitassetmanagement.com
Custodians: CHARLES SCHWAB & CO., INC.
Fee structure: Percentage of AUM, Hourly Charges
Client types: HNWI81.24%
Individuals10.05%
Charitable Organizations7.05%
Pension & Profit Sharing Plans1.6%
Corporations / Businesses0.06%
Services: Financial PlanningPortfolio Management for IndividualsPortfolio Management for Institutional ClientsPension ConsultingSelection of Other Advisers

Firm profile

FINTRX

Overview

Summit Asset Management LLC is an independent, privately owned registered investment adviser that has been SEC-registered since 1999. Structured as a limited liability company, the firm serves both individual and institutional clients and bills primarily as a percentage of assets under management, supplemented by hourly charges for certain services. Summit provides financial planning, discretionary portfolio management for individuals, small businesses and institutions, selection of outside advisers, and pension-related consulting. The firm also describes itself as a capital allocator, meaning it places client capital with third-party managers and external funds rather than relying solely on in-house proprietary vehicles. Summit is not an active ESG investor.