Guides › Financial Advisor Fees
Updated September 28, 2026. Quick answer: Summit Financial is registered with the SEC as an investment adviser (CRD #299322, confirmed ACTIVE this session via SEC IAPD). Per its own current fee brochure, a $500,000 account would run up to $7,500 a year (the published maximum) under its published fee schedule. Already a client and thinking about leaving? Budget $50 at Schwab, or $150 at Pershing, depending on your custodian. This review covers what its own fee brochure and current SEC registration confirm today; it does not assess fiduciary status or account minimums.
Summit Financial at a glance
| Fact | What Summit Financial’s own pages say |
|---|---|
| Legal entity | Summit Financial, LLC |
| Registration | Summit Financial, LLC is registered with the SEC as an investment adviser (CRD #299322, confirmed ACTIVE this session via SEC IAPD). |
| Fee on a $500,000 account | Up to $7,500 a year (the published maximum), per its own current brochure |
| Minimum to open an account | Not assessed in this review; see Item 5 of its Form ADV Part 2A |
| Cost to leave (exit fee) | $50 at Schwab, or $150 at Pershing, depending on your custodian |
What Summit Financial’s own fee schedule charges
Summit Financial, LLC is a national independent advisory firm whose individual advisors operate under many d/b/a names; it is distinct from the terminated Summit Financial (CRD 109280) and from Summit Financial Group. The priced figure is the maximum advisory fee that applies across its programs for individual clients; existing clients on legacy schedules may pay different amounts.
“The maximum advisory fee for the programs is 1.50%, exclusive of the program fee, sub- advisory fees, third-party manager fees, platform fees, and fees not covered by a Wrap Program that are charged by the Qualified Custodian.”
Summit publishes a maximum advisory fee of 1.50% of assets instead of a tiered schedule, so each balance is priced at that maximum. The brochure discloses no minimum annual dollar fee on the advisory fee, so no floor applies. These are ceiling figures for the advisory component only, not typical or all-in charges.
What the same brochure says about fees charged on top of this schedule: “In addition to the advisory fee noted above, for Envestnet, Clients are charged a “Custody Fee” designed to cover the cost of brokerage in the Client’s account, as well as a “Sponsor Fee.”” The table below is the firm’s own advisory fee schedule and does not include any such additional fee.
| Account balance | Annual fee |
|---|---|
| $250,000 | $3,750 |
| $500,000 | $7,500 |
| $1,000,000 | $15,000 |
| $2,000,000 | $30,000 |
These figures come directly from Summit Financial’s own current fee brochure, cited in Sources below.
Registration
Summit Financial, LLC is registered with the SEC as an investment adviser (CRD #299322, confirmed ACTIVE this session via SEC IAPD).
This is a registration confirmation only, not a fiduciary-standard verdict (a registered investment adviser can still be a dual registrant with a broker-dealer, which changes which standard applies in each capacity).
What it costs to leave
Summit Financial, LLC’s Form ADV Part 2A states “Client or Summit may terminate an advisory program at any time by providing notice of such election to the other party.” Summit Financial, LLC names five possible custodians in its brochure, with no single default. Charles Schwab & Co., Inc.’s own published fee schedule states “Full transfer (out) of assets” Pershing Advisor Solutions LLC’s own published fee schedule states “Account Termination” National Financial Services LLC (Fidelity affiliate), Goldman Sachs & Co. LLC, and SEI disclose no comparable line item (an honest gap).
The general mechanics of switching financial advisors and a dated termination letter apply regardless of firm.
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- Form ADV Part 2A (September 3, 2026): https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1056993
- SEC IAPD firm summary (CRD #299322, checked September 28, 2026): https://adviserinfo.sec.gov/firm/summary/299322
Methodology. This page was built September 28, 2026, drawing directly on Summit Financial’s own current fee brochure, cited in Sources below, and a fresh SEC IAPD registration check run the same day. Where exit-fee facts are cited, they trace to the named custodian’s own published schedule. Any fact we could not independently confirm is named as an honest gap rather than presented as verified. Nothing here is personalized financial, tax, legal, or investment advice, and it is not a substitute for reading Summit Financial’s own Form ADV Part 2A and Form CRS. We have not used Summit Financial as a client. Summit Financial did not pay for, review, or influence this content. See our Editorial Policy, Corrections, Affiliate Disclosure, and Disclaimer.
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