Summit Asset Management LLC
Data sourced from SEC public records (and other sources when available). Refreshed weekly • Updated today.
Client AUMClient assets under management
$985,667,291
Clients
515
Advisors
6
across 2 offices
About
Summit Asset Management serves individual and high-net-worth clients as well as trusts, retirement plans, charitable endowments, and corporations, providing discretionary portfolio management, financial planning, and retirement-plan consulting and fiduciary services. The firm manages accounts on a fee-only basis and discloses it provides both non-discretionary advice and discretionary ERISA-related services, including 3(21) and 3(38) plan options and model portfolios.
Summit implements client plans using an asset-allocation framework that relies primarily on mutual funds and ETFs, with access to alternative investments and occasional use of sub‑advisers. The firm monitors portfolios continuously, rebalances as needed, and combines third‑party market research with proprietary sector analysis to make tactical adjustments within funds rather than attempting market timing.
Compared with many peers, Summit’s ADV discloses arrangements with third‑party “Promoters” to refer clients under written agreements with required disclosure of promoter compensation, an approach relatively uncommon for team firms. The brochure also notes the firm permits strategies that may involve borrowing in separately managed accounts and highlights its use of Schwab’s institutional platform and an investment‑committee governance structure staffed by multiple CFP® and other credentialed professionals.
Client services
Expertise
Occupation focus
Fee options
$0 - $500,000: 1.00% annually $500,001 - $1,000,000: 0.80% annually $1,000,001 - $3,000,000: 0.50% annually $3,000,001+: 0.25% annually
Special services provided on a project basis with negotiated fees
Account minimum: $500,000 Fee-only: Management fees only; no commissions or sales loads
Main office
See office5100 Wheelis Dr., Suite 107
Memphis TN 38117
Advisors at this office
5
Offices (2)
Most active in
Alabama · Arkansas · California · Florida · Georgia · Louisiana · Mississippi · North Carolina · Oregon · South Carolina · Tennessee · Texas
Disclosures
Exclamation point means they have disclosures of this type. Check mark means no disclosures of this type were found.
Business activities & affiliations
Is not active or affiliated with:
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Insurance agent
They sell insurance products and may earn commissions on those sales.
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Broker-dealer / trader
They provide brokerage services and may earn transaction-based compensation in addition to advisory fees.
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Bank
They're affiliated with a bank that may offer its own financial products and services.
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Trust company
They provide trust and estate administration services, typically for separate fees.
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Fund sponsor
They manage or sponsor investment funds and may earn management or performance-based fees if clients invest in them.
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Accountant / CPA / tax prep
They offer tax and accounting services, typically for separate fees.
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Lawyer
They provide legal services, typically billed separately.
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Real estate agent
They facilitate real estate transactions and may earn commissions.
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Other specialized services
They may provide services such as pension consulting or municipal advisory work, typically for separate fees.
Quick links
Advisors at this firm
Leslie D
CFP®, Series 66
Memphis, TN
Summit Asset Management LLC
Leslie Drummond is a CFP® and Series 66 licensed advisor with 15 years of industry experience. She has been with Summit Asset Management LLC since 2013, currently working as part of a six-advisor team. Summit Asset Management serves individual and high-net-worth clients, trusts, retirement plans, charitable endowments, and corporations. The firm provides discretionary portfolio management, financial planning, and retirement-plan consulting and fiduciary services, employing an asset-allocation approach that primarily uses mutual funds and ETFs along with access to alternative investments.
Soleil L
CFP®, Series 63
Memphis, TN
Summit Asset Management LLC
Soleil Lum is a CFP® with 10 years of experience in the financial industry and is currently a team member at Summit Asset Management LLC in Memphis, TN. She has been with Summit since 2016. Summit Asset Management serves individual and high-net-worth clients, trusts, retirement plans, charitable endowments, and corporations, offering discretionary portfolio management, financial planning, and retirement-plan consulting services. The firm uses an asset-allocation framework focused on mutual funds and ETFs, incorporates alternative investments and sub-advisers, and employs an investment-committee governance structure staffed by credentialed professionals.
Lance H
CFP®
Memphis, TN
Summit Asset Management LLC
Lance Hollingsworth is a CFP® professional with 21 years of industry experience. He has been with Summit Asset Management LLC since 2004, currently serving as part of a six-advisor team based in Memphis, TN. Summit Asset Management serves individuals, high-net-worth clients, trusts, retirement plans, endowments, and corporations, managing discretionary and non-discretionary portfolios for approximately 500 clients and nearly $939 million in assets. The firm provides portfolio management, financial planning, and retirement plan advisory services, utilizing an internal Investment Committee to guide asset allocation primarily through mutual funds, ETFs, and alternatives.
Samuel T
ChFC®, Series 63, Series 65
Memphis, TN
Summit Asset Management LLC
Samuel Thompson is a financial advisor at Summit Asset Management LLC with 21 years of industry experience. He holds the ChFC® designation along with Series 63 and Series 65 licenses. Thompson has been with Summit Asset Management since 2012, working there continuously for over a decade. Summit Asset Management serves individuals, high-net-worth clients, trusts, retirement plans, endowments, and corporations, managing discretionary and non-discretionary portfolios for approximately 500 clients with nearly $939 million in assets. The firm provides portfolio management, financial planning, and retirement plan advisory services, using an Investment Committee to guide asset allocation and tactical adjustments.
John L
CFP®, Series 63
Memphis, TN
Summit Asset Management LLC
John Laughlin is a CFP® with 21 years of industry experience and is currently with Summit Asset Management LLC in Memphis, TN. He has been with Summit since 2012 and is a member of the Investment Committees for both the Second Presbyterian Church Foundation and the Metropolitan Inter-Faith Association Endowment. Summit Asset Management serves individuals, high-net-worth clients, trusts, retirement plans, endowments, and corporations, managing discretionary and non-discretionary portfolios for approximately 500 clients and nearly $939 million in assets. The firm focuses on portfolio management, financial planning, and retirement plan advisory services, implementing client plans primarily through asset allocation across mutual funds, ETFs, and alternatives, with investment decisions made by an internal Investment Committee.
Sarah H
Series 63, Series 65
Pensacola Beach, FL
Summit Asset Management LLC
Sarah Haizlip is a financial advisor at Summit Asset Management LLC with 20 years of industry experience. She holds the Series 63 and Series 65 designations and has been with Summit since 2006. Summit Asset Management serves individuals, high-net-worth clients, trusts, retirement plans, endowments, and corporations, managing discretionary and non-discretionary portfolios for approximately 500 clients and nearly $939 million in assets. The firm provides portfolio management, financial planning, and retirement plan advisory services, implementing client plans primarily through diversified asset allocation overseen by an internal Investment Committee.
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