Summit Financial: Platform Profile

Overview

Summit Financial is an SEC-registered investment adviser offering financial planning, investment management, asset allocation, wrap programs and investment consulting.

Current legal identity:

• Investment adviser: Summit Financial, LLC
• CRD: 299322
• SEC number: 801-114377
• Parent: Summit Financial Holdings, LLC

The current March 16, 2026 Form CRS makes the minimum-account issue program-specific:

• Program minimum range: $0-$1,000,000

Current fee disclosures show:

• Wrap max advisory fee: 1.50%
• Wrap program fee range: 0.05%-0.15%
• Annual account maintenance: $120
• Non wrap max advisory fee: 1.50%

May fit better for

• clients who want a financial adviser with multiple managed-account programs;
• investors comfortable with advisor-negotiated pricing;
• households seeking discretionary or non-discretionary management;
• clients wanting wrap or non-wrap account choices;
• investors needing third-party manager access;
• eligible clients considering alternatives.

May fit less well for

• users who want one universal account minimum;
• investors who want one universal fee;
• clients who assume 1.50% is the complete wrap cost;
• investors who want no adviser compensation conflicts;
• clients who want no insurance/brokerage affiliate relationships;
• investors seeking a purely automated low-cost robo.

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Summit Financial, LLC is the current adviser

Current Form CRS:

• Investment adviser: Summit Financial, LLC
• CRD: 299322
• SEC number: 801-114377

Summit is a wholly owned subsidiary of Summit Financial Holdings and is the successor to legacy advisory/planning businesses of prior Summit entities.

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Program minimums range from $0 to $1 million

Current Form CRS:

• Program minimum range: $0-$1,000,000

The selected program and Investment Management Agreement control.

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Advisors negotiate fees within firm limits

Current disclosure:

• Advisor determined advisory or flat fee: Yes
• Fees negotiable: Yes

Financial advisors consider factors including:

• relationship size;
• service type;
• program;
• client needs;
• complexity.

Legacy schedules can differ.

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Wrap advisory fee can be up to 1.50%

Current Form CRS:

• Wrap max advisory fee: 1.50%

This is the advisory-fee component.

It is not the full wrap cost.

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Wrap Program Fee adds 0.05%-0.15%

Current Form CRS:

• Wrap program fee range: 0.05%-0.15%
• Program fee based on household assets: Yes

The Program Fee covers program-related services described in the wrap arrangement.

The household's asset band controls.

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Annual account maintenance reference is $120

Current Form CRS:

• Annual account maintenance: $120 per account

It can be billed monthly or quarterly depending on the account.

Certain sub-adviser programs instead pass through a custodian asset-based platform fee and do not include the $120 maintenance charge.

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Non-wrap advisory fee can also be up to 1.50%

Current Form CRS:

• Non wrap max advisory fee: 1.50%

Third-party manager and custodian fees can be additional.

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Financial planning uses a separate flat fee

Current Form CRS:

• Flat financial planning fee: Yes

The individual financial advisor determines the flat planning fee.

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Held-away accounts can have a platform fee

Current disclosure:

• Held away platform fee possible: Yes

It applies only where the relevant platform/service is used.

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Cash can increase the advisory fee

Current Form CRS states that the more assets, including cash, in the advisory account, the more Summit can earn.

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Discretionary and non-discretionary accounts coexist

Current Form CRS:

• Discretionary management: Yes
• Non discretionary management: Yes

In a discretionary account, Summit can trade without prior client approval.

In a non-discretionary account, the client decides whether to implement the recommendation.

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Alternatives and third-party managers are part of the current investment universe

Current Form CRS describes advice that can include:

• ETFs;
• alternatives;
• third-party managers;
• mutual funds;
• equities;
• fixed income;
• other securities.

Additional manager or product expenses can apply.

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Summit has affiliated insurance and broker-dealer relationships

Current Form CRS identifies:

• Insurance affiliate: Summit Risk Management, LLC
• Affiliate broker dealer: LS Securities, LLC

The broker-dealer does not have retail clients but can receive referral economics tied to brokerage services/products provided through Summit advisers acting with unaffiliated broker-dealers.

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Revenue sharing with service providers creates another conflict

Current Form CRS states that certain service providers, including sub-advisers, can have revenue-sharing arrangements with Summit.

That is an economic incentive.

It is not proof that the chosen provider is unsuitable.

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Current Form CRS reports disciplinary/legal history

Current CRS answers the disciplinary-history question affirmatively for the firm and/or financial professionals.

Store narrowly:

• Form CRS reports legal or disciplinary history: Yes

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Custody is third-party and program-specific

Summit uses third-party custodians and platforms depending on the selected advisory program.

Assessment

Summit's current economics are best understood as program-driven.

A review that publishes either $0 or $1 million as “the minimum” is wrong because the CRS gives a range across programs.

The same applies to fees.

A wrap client can pay:

advisory fee + Program Fee + applicable maintenance/platform costs

while a non-wrap client can pay:

advisory fee + third-party manager/custodian costs.

The 1.50% figure is therefore a fee-component ceiling reference, not a universal all-in rate.