Summit Financial, LLC

Registered investment adviser · Parsippany, NJ · CRD #299322

Form ADV data as of 2026-09-01

Regulatory assets

$22.47 billion

Total accounts

36,236

Employees

490

Disclosure events

Firm details

Website: https://www.stappas.summitfinancial.com/
Telephone: 973-285-3600
SEC file number: 801-114377
Most recent Form ADV filing: 2026-07-30
SEC record: View this firm on the SEC's IAPD site

Disciplinary disclosures

This firm reports 3 disclosure questions answered Yes, covering 3 reported events. Form ADV Item 11 covers charges and pending proceedings as well as findings, so a Yes answer is not itself a finding of wrongdoing. The underlying detail is filed with the SEC.

Another regulator found a violation of investment-related regulations or statutes
Another regulator entered an order in connection with investment-related activity (past 10 years)
A self-regulatory organization found a violation of its rules

Assets and accounts

Provides continuous and regular supervisory or management services	Yes
Discretionary regulatory assets under management	$12.24 billion
Non-discretionary regulatory assets under management	$10.23 billion
Total regulatory assets under management	$22.47 billion
Discretionary accounts	24,683
Non-discretionary accounts	11,553
Total accounts	36,236
Regulatory assets under management attributable to non-U.S. persons	$76.6 million

People

Total employees (excluding clerical)	490
Employees performing investment advisory functions (including research)	216
Employees who are registered representatives of a broker-dealer	131
Employees registered as investment adviser representatives with a state	210
Employees registered as IARs for another investment adviser	5
Employees who are licensed insurance agents	22
Firms or persons who solicit advisory clients on the firm's behalf	45

Custody

Has custody of client cash or bank accounts	No
Has custody of client securities	Yes
Client funds and securities held in the firm's custody	$22.37 billion
Clients for whom the firm has custody	15,995
A related person has custody of client cash or bank accounts	No
A related person has custody of client securities	No
The firm acts as a qualified custodian	No
A related person acts as a qualified custodian	No
Number of persons acting as qualified custodians for the firm's clients	22

How the firm is compensated

A percentage of assets under managementFixed fees (other than subscription fees)

Advisory services offered

Financial planning servicesPortfolio management for individuals and/or small businessesPension consulting servicesSelection of other advisers (including private fund managers)

Affiliated related persons

Broker-dealer, municipal securities dealer, or government securities broker or dealerOther investment adviser (including financial planners)Insurance company or agencySponsor, general partner, or managing member of pooled investment vehicles

Reported conflicts of interest

Form ADV Items 8 asks advisers to disclose arrangements that may create a conflict with client interests. This firm answered Yes to:

Buys or sells for itself securities it also recommends to clients
Recommends securities in which it has another proprietary interest
Recommends brokers or dealers to clients
Compensates a non-employee for client referrals
Provides employee compensation specifically for obtaining clients
Receives compensation from others for client referrals

Client types

Type of client	Clients	Assets
Individuals (other than high net worth individuals)	13,243	$5.92 billion
High net worth individuals	2,417	$14.04 billion
Pension and profit sharing plans (not the participants or government plans)	452	$2.46 billion
Charitable organizations	4	$14.6 million
Corporations or other businesses not listed above	21	$38.2 million