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Summit Financial

SEC-registered adviser since 2018Parsippany, NJCRD 299322

$26.3B
AUM
18,393
Clients
See fees
Fee
216
Advisory staff

From Form ADV filed 3 September 2026 · data retrieved 15 October 2026SEC record

Summit Financial is an investment adviser headquartered in Parsippany, New Jersey, and registered with the SEC since 2018. Its clients include high-net-worth individuals, other individuals, and pension and profit-sharing plans. High-net-worth individuals account for 57% of its regulatory assets under management.

Its services include financial planning, portfolio management for individuals and small businesses, pension consulting, and selecting other managers. Fee arrangements include a percentage of assets under management and fixed fees. Summit Financial Holdings, LLC owns 75% or more of Summit Financial, and Stanley Gregor is its CEO.

Clients

Summit Financial serves 18,393 clients, 2,248 of them high-net-worth individuals. The average client has about $1.4 million with the firm, and high-net-worth clients hold 57% of its $26.3 billion in assets.

Regulatory assets by client type
  • Individuals15,561 clients32%
  • High-net-worth individuals2,248 clients57%
  • Pension and profit-sharing plans561 clients11%
  • OtherCharitable organizations, Corporations and other businesses0%
Show client breakdown
Individuals (other than HNW)
Clients
15,561
Regulatory AUM
$8,554,348,817
Share
32.5%
Avg. per client
$550K
High-net-worth individuals
Clients
2,248
Regulatory AUM
$14,933,903,557
Share
56.7%
Avg. per client
$6.64M
Pension and profit-sharing plans
Clients
561
Regulatory AUM
$2,804,988,901
Share
10.6%
Avg. per client
$5.00M
Charitable organizations
Clients
4
Regulatory AUM
$16,357,502
Share
0.1%
Avg. per client
$4.09M
Corporations and other businesses
Clients
19
Regulatory AUM
$38,749,188
Share
0.1%
Avg. per client
$2.04M

Total

Clients
18,393
Regulatory AUM
$26,348,347,965
Share
100%
Avg. per client
$1.43M

What it does

Summit Financial provides financial planning, portfolio management for individuals and small businesses, pension consulting and selecting other managers. It is paid through a percentage of assets and fixed fees.

Summit Financial provided financial planning to 251–500 clients last fiscal year and advises no private funds.

57.7% of assets ($15.20B across 28,730 accounts) are managed with discretion; $11.15B across 11,898 accounts are not. $17.33B sits in a wrap fee program the firm both sponsors and manages. 1% of clients are outside the U.S., and 59 clients received advice without assets under management last fiscal year.

What the accounts hold

Separately managed account assets by class, year end
  • Stocks31%
  • Funds52%
  • Bonds9%
    • State and local bonds7%
    • U.S. government and agency bonds2%
  • Cash8%

Custodians

Summit Financial’s client accounts are held mainly at Fidelity, with 27% of managed assets, and Charles Schwab, with 10%. Summit Financial has custody of $22.37B for 15,995 clients.

Managed account assets by custodian
  • FidelityNational Financial Services LLC · Boston, MA · $7.07B27%
  • Charles SchwabCharles Schwab & Co., Inc. · Westlake, TX · $2.70B10%
  • Folio InvestmentsFolio Investments, Inc. · MC Lean, VA · $1.93B7%
  • All other custodians$14.65B56%

Ownership and leadership

Summit Financial Holdings, LLC owns 75% or more of Summit Financial, and Stanley Gregor is its CEO.

Who owns the firm
Summit Financial, LLC· the adviser

  • Summit Financial Holdings, LLC

    Control person · since October 2018

    Owns 75% or more of Summit Financial, LLC

Leadership

  • Stanley Gregor
    Chief Executive Officer and Director
  • Steven Weinman
    President, Director
  • Mara Stempler
    Chief Financial Officer
  • Anthony McElynn
    Chief Compliance Officer
  • Michael Bremer
    Chief Operations Officer
  • Esmat Hawkesworth
    Chief Legal Officer,, Director

Staff

  • 490 employees
  • 216 in advisory functions
  • 210 state-registered reps
  • 131 broker-dealer reps
  • 22 insurance agents
  • 45 soliciting firms

Reported holdings

Summit Financial’s reported 13F holdings total $9.12B across 1,580 positions, and the ten largest make up 23.5% of it.

$9.12B
Reported 13F value
1,580
Positions
23.5%
In the 10 largest
+16.2%
Value vs. prior quarter
Ten largest positions, share of reported value
  1. Vanguard Index Fds · Total Stk Mkt7.1%
  2. Vanguard Intl Equity Index F · Allwrld EX US3.2%
  3. iShares TR · Core S&P500 ETF2.5%
  4. Apple Inc.2.2%
  5. Vanguard Index Fds · Growth ETF1.7%
  6. Nvidia Corporation1.7%
  7. Vanguard Index Fds · Value ETF1.4%
  8. Vanguard Index Fds · S&P 500 ETF Shs1.3%
  9. State Str SPDR S&P 500 ETF T · TR Unit1.2%
  10. Invesco Exch Traded FD TR II · Nasdaq 100 ETF1.2%

Together, the ten largest are 23.5% of reported value.

The 50 largest positions and quarterly changesQuarter ended 30 June 2026 · filed 12 August 2026

A 13F covers only exchange-traded long positions the firm holds with discretion, so this $9.12B is not its $26.35B in regulatory assets and does not represent any individual client's portfolio.

Fees

Summit Financial is paid through a percentage of assets under management and fixed fees (other than subscription fees).

Summit Financial’s fee rates are not included in this profile. Find its brochure on the SEC’s site.

Offices and registrations

Besides its headquarters, Summit Financial has 107 offices (47 private residences, listed without an address), with 64 listed addresses across 24 states.

Listed office addresses by state

New Jersey · 10 listed addresses

  • 4 Campus Drive, ParsippanyHQ
  • 236 Washington Street, Toms River
  • 1 Harding Road, Red Bank
  • 475 Wall Street, Princeton
  • 295 Main Street, Madison
  • 217 Willow Avenue, Hoboken
  • 191 Washington Street, Morristown
  • 321 Burnt Mill Road, Branchburg
  • 900 Route 168, Turnersville
  • 400 Interpace Parkway, Parsippany

Other business names

Summit Financial has reported 55 other business names to the SEC.

  • Advocus Private Wealth
  • Argosy Wealth Management LLC
  • Armstrong Advisors
  • BFG Wealth
  • Brad Werner & Company
  • Canon Capital Wealth Management
  • Clarity Capital Partners
  • Conway Wealth Group, LLC
  • Crow Financial Advisors
  • Dulworth Jaskol
  • Essex Wealth Management
  • Everest Consultants, LLC
  • Garrett, Perkins & Horton Advisory Partners
  • Gateway Advisory, LLC
  • Genex Consulting
  • Global Financial Partners, LLC
  • Gordon Asset Management, LLC
  • Grandview Square Financial
  • Great Lakes Private Wealth
  • Heritage Wealth Partners
  • Ivy Wealth Advisors
  • Ivy Wealth Management
  • Kamal Capital Group
  • Keystone Capital Group
  • Kyros Private Wealth
  • LPF Financial Advisors
  • LPWM Group
  • Landsdowne Private Wealth Management
  • Leroy Wealth Management Group
  • Lifetime Wealth Management, LLC
  • M Group
  • MRK Wealth Advisors
  • Meeder Wealth Management
  • Midway Wealth Partners
  • National Wealth Advisors, Inc.
  • Nolan Wealth Management
  • Oracle Private Wealth Advisors
  • Panoptic Wealth Advocates
  • Parkhaven Private Wealth
  • Parsons Broach Financial Services
  • Phillips Financial Strategies
  • Radiance Private Wealth
  • Rethinkwealth
  • SRM Private Wealth
  • Salvo Wealth Group
  • Sentinel Wealth Partners
  • Signet Financial Management, LLC
  • Silvertree, LLC
  • Southeast Financial Group
  • Tanistry Wealth Management
  • The Executive Wealth Group
  • The Jaskol Group
  • Vardhan Wealth Management
  • Wealthplan Advantage
  • Weinerman Wealth Management

Registration details

Legal name
Summit Financial, LLC
Headquarters
4 Campus Drive, Parsippany, NJ 07054
Phone
973-285-3600
Website
www.summitfinancial.com
SEC file
801-114377
Structure
Delaware LLC
Fiscal year end
December

This directory does not report disciplinary history, for any firm or individual, in either direction. The SEC publishes the complete record, including any disciplinary events, and it is the authoritative place to check one. See this firm's record on adviserinfo.sec.gov

Common questions

How many clients does Summit Financial have?

Summit Financial has 18,393 clients and manages $26.3 billion for them, as of September 2026. They include 15,561 other individuals, 2,248 high-net-worth individuals and 561 pension and profit-sharing plans.

Source: Form ADV Part 1A, Items 5.D and 5.F, filed 3 September 2026

What services does Summit Financial offer?

Summit Financial provides financial planning, portfolio management for individuals and small businesses, pension consulting and selecting other managers.

Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file

Which custodians does Summit Financial use?

Summit Financial’s separately managed account assets are held at National Financial Services LLC (Boston, MA), with $7,072,488,506, Charles Schwab & Co., Inc. (Westlake, TX), with $2,695,171,656 and Folio Investments, Inc. (MC Lean, VA), with $1,926,470,068. Only custodians holding at least a tenth of those assets are named.

Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 3 September 2026

How many financial advisors does Summit Financial have?

Summit Financial has 210 investment adviser representatives registered with state securities authorities, out of 490 employees, and 216 perform investment advisory functions. 131 are registered representatives of a broker-dealer and 22 are licensed insurance agents.

Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file

What does Summit Financial invest in?

At the end of its last fiscal year, Summit Financial’s separately managed accounts held 52% registered funds (mutual funds, ETFs, BDCs), 31% exchange-traded equities, 8% cash and equivalents, 7% state and local bonds and 2% U.S. government and agency bonds. It advises no private funds of its own.

Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file

Who owns Summit Financial?

Summit Financial is owned through a chain of holding companies by Stanley Gregor and Merchant Investment Management Holdings, LLC. Its direct owner is Summit Financial Holdings, LLC (75% or more).

Source: Form ADV Part 1A, Schedules A and B, filed 3 September 2026

How does Summit Financial get paid?

Summit Financial is paid through a percentage of assets under management and fixed fees. Its Form ADV lists no commissions or performance-based fees among how it is paid.

Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file

Sources

  1. Form ADV Part 1A, amendment filed 3 September 2026. Items 1, 5, 9, 11 and Schedules A, B and D.
  2. IAPD firm record, CRD 299322.
  3. Form 13F-HR, filed 12 August 2026 for the quarter ended 30 June 2026.

Retrieved 15 October 2026. All are published by the SEC and may have been amended since.

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This profile is compiled from public regulatory filings and is provided for informational purposes only. Niva Wealth is not affiliated with Summit Financial, LLC and makes no representation about the quality of its services. Figures reflect the filing dates shown and may have changed. Ownership percentages are the bands reported to the SEC, not exact figures.