Beverly Hills, CA Office

Summit Financial, LLC is an SEC‑registered, multi‑team advisory firm with about $26.35 billion in assets under management, 216 advisors and roughly 17,800 clients. It provides investment advisory and portfolio management programs (including Summit Managed Portfolios, Strategic Asset Allocation, APM/FMA and third‑party manager platforms), financial planning, retirement plan advisory (3(21) and 3(38) services), access to alternative investments and variable annuities.

The firm operates a mix of discretionary and consultative services: the Investment Management Committee has discretionary authority over the Managed Portfolios, while programs such as SAA and the SEI Mutual Fund Portfolios are structured to require client approval for trades and emphasize advisor‑led monitoring. Financial Advisors may customize allocations using third‑party managers and unified platforms, and Summit supports held‑away retirement account management via a Pontera connection; advisors may also provide brokerage or insurance products through affiliated or unaffiliated firms.

Distinctive for a firm of its scale, Summit maintains a substantial non‑discretionary/consultative platform alongside its discretionary offerings, with explicit disclosures that many accounts require client trade approvals or are subject to outside monitoring. The brochure also discloses multiple ownership and referral relationships (including ties to Merchant entities, the Persimmon Long/Short Equity I Fund, bank referral arrangements with Waterfall and Fieldpoint, and LSS referral fees), which the firm identifies as potential conflicts addressed through disclosure and supervisory procedures.