# Summit Asset Management LLC

> Summit Asset Management LLC is an SEC-registered investment advisory firm in Memphis, TN, registered since 1999, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated March 16, 2026.

- CRD: 109606
- Filed as: SUMMIT ASSET MANAGEMENT LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Memphis, TN
- Filing period: October 2026
- Form ADV filing dated: March 16, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/109606
- AdvisorCensus page: https://advisorcensus.com/firm/summit-asset-management-llc-memphis-tn-109606

## Quick answers

**How is Summit Asset Management LLC compensated?**
On its Form ADV (Item 5.E, October 2026), Summit Asset Management LLC reports these compensation arrangements: a percentage of assets under its management; hourly charges.

**Where is Summit Asset Management LLC located?**
Summit Asset Management LLC's principal office is in Memphis, TN, according to its Form ADV.

**Is Summit Asset Management LLC registered with the SEC or a state?**
Summit Asset Management LLC is an SEC-registered investment advisory firm, registered since 1999. Status as filed: Approved. CRD 109606.

**How much does Summit Asset Management LLC manage?**
Summit Asset Management LLC reports $1,079,755,571 in regulatory assets under management in its Form ADV filing dated March 16, 2026 (89% discretionary).

**How have Summit Asset Management LLC's assets and staff changed since 2021?**
In the Form ADV data for Summit Asset Management LLC: Regulatory assets under management: $674,136,604 in the October 2021 data and $1,079,755,571 in the October 2026 data, up 60%. Total employees: 9 in October 2021 and 8 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Summit Asset Management LLC serve?**
By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (315); high net worth individuals (200); pension and profit sharing plans (but not the plan participants or government pension plans) (12).

**Which custodians does Summit Asset Management LLC use?**
Summit Asset Management LLC's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Charles Schwab & Co., Inc. as a custodian holding 10% or more of its separately managed account assets.

**Does Summit Asset Management LLC report any disciplinary disclosures?**
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/109606

**Does Summit Asset Management LLC state an account minimum?**
Its Form ADV Part 2A brochure dated March 16, 2026 says: "The minimum portfolio value is generally set at $ 500,000. We may, at our discretion, make exceptions to the foregoing or negotiate special fee arrangements where we deem it appropriate under the circumstances."

**What changed in Summit Asset Management LLC's recent Form ADV filings?**
In the April 2026 filing data: Regulatory assets under management went from $938,920,408 to $1,079,755,571 (+15%).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Hourly charges

### Fees and minimums (Form ADV Part 2A brochure dated March 16, 2026)

- Account minimum: $500,000

> The minimum portfolio value is generally set at $ 500,000. We may, at our discretion, make exceptions to the foregoing or negotiate special fee arrangements where we deem it appropriate under the circumstances.

As stated in the firm's brochure. Fees can differ by service and may be negotiable.

### Custodians (Schedule D, Section 5.K(3))
- Charles Schwab & Co., Inc.

Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.

### Regulatory assets under management (Item 5.F)
- Total: $1,079,755,571
- Discretionary: $966,146,761
- Non-discretionary: $113,608,810

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 315 | $108,463,796 |
| High net worth individuals | 200 | $877,203,495 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 12 | $17,287,250 |
| Charitable organizations | 5 | $76,126,314 |
| Corporations or other businesses not listed above | Fewer than 5 | $674,716 |

### Advisory services (Item 5.G)
- Financial planning services
- Portfolio management for individuals and/or small businesses
- Portfolio management for businesses (other than small businesses) or institutional clients
- Pension consulting services
- Selection of other advisers (including private fund managers)
- Other

### Firm details
- Registered since: 1999 (27 years)
- Employees: 8 total, 6 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: AL, AR, CA, FL, LA, MS, NC, OR, SC, TN, TX
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- summitassetmanagement.com
- LinkedIn @SUMMIT-ASSET-MANAGEMENT-LLC

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $674,136,604 | 9 | March 26, 2021 |
| October 2022 | $786,469,609 | 9 | July 20, 2022 |
| October 2023 | $682,102,664 | 9 | May 15, 2023 |
| October 2024 | $851,437,015 | 8 | September 3, 2024 |
| October 2025 | $938,920,408 | 8 | July 24, 2025 |
| October 2026 | $1,079,755,571 | 8 | March 16, 2026 |

Regulatory assets under management: $674,136,604 in the October 2021 data and $1,079,755,571 in the October 2026 data, up 60%.
Total employees: 9 in October 2021 and 8 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Regulatory assets under management went from $938,920,408 to $1,079,755,571 (+15%).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Summit Asset Management LLC (CRD 109606): Form ADV filing data as of October 2026.