Summit Financial, LLC

Summit Financial, LLC provides investment advisory and financial planning services to a broad client base, including individuals (both retail and high‑net‑worth), corporations and business entities, pension and profit‑sharing plans, and charitable organizations. The firm also offers retirement plan advisory (3(21) and 3(38)) services and access to insurance and variable annuity products through affiliated and unaffiliated partners.

Summit combines firm‑managed discretionary Managed Portfolios overseen by an Investment Management Committee and Chief Investment Officer with numerous advisor‑directed programs (SAA, APM/FMA, TPMs and SEI/Envestnet platforms) where Financial Advisors frequently provide non‑discretionary recommendations or consultative oversight. As of December 31, 2024, Summit reported approximately $14.96 billion in client assets, about $7.38 billion of which was managed on a discretionary basis, so a substantial portion of its AUM is supervised on a non‑discretionary basis.

What differentiates Summit from many large peers are the scale of its non‑discretionary relationships and the operational complexity described in its brochure: multiple custodians and platform relationships (including SEI, Envestnet and Nationwide) that result in different cost and service profiles across accounts, an AI‑enabled meeting transcription tool used to create firm records, and a layered ownership/affiliate structure (including SRM and LSS) that coexists with routine use of third‑party managers and referral arrangements. These attributes affect how investment decisions are made, how custody and billing work, and how conflicts of interest are disclosed and managed.