Summit Capital Management’s responsibility to you is to pull together the best combination of services and advice available through our professional alliances.
Our investment advice and planning services are offered through our affiliation with American Portfolios Advisors (APA) where Anthony Ritter operates as an investment advisor representative on their Registered Investment Advisory (RIA) filing with the SEC. American Portfolios Advisors operates a fee-based platform. This allows for multiple custodians.
Our Fee-Only Platform is offered at either, Schwab Institutional, a Charles Schwab Company or TD Ameritrade as custodians. These custodians first and foremost report directly to you regarding your account balances and any flow of funds from your account(s). Another part of this platform is how we get paid. The only compensation we receive is through the fees you pay; we do not get paid any commissions or remuneration that you do not see on your statements. This compensation structure ensures that we are working strictly on the clients’ behalf and are not inclined to favor any products. This allows Summit Capital Management to have complete autonomy to source the best possible solutions for you and meet our fiduciary duty to the client. We are normally paid with asset-based fees; however, we have the ability to offer you an hourly rate, flat fees, or a retainer basis.
We still find the need for Traditional Brokerage. Traditional brokerage works best for the clients that would prefer to pay commissions rather than a fee.This platform is also offered through our affiliation with American Portfolios Financial Services and the main custodian is Pershing LLC. This platform also allows us to incorporate banking products and other executive services. This structure has numerous conflicts and follows the suitability standard and not the fiduciary standard.
We have stressed each platform and the custodian used because we feel this is an important distinction. (The custodian will make a big difference when you realize that Madoff and Stanford self-custody client assets.) The custodian is responsible for holding your assets; they are the safe-keeper. We have selected some of the best custodians so you will have peace-of-mind when you select us. Your monthly statements and confirmations will come directly from them and indicate balances of flow of funds. This creates a non-affiliated relationship reporting our activity directly to you, an added layer of safety.
Our risk management and insurance services are offered through our relationship with Crump and Company or Highland Capital. Our relationship with these two top tier insurance agencies gives us access to the best and most financially sound insurance companies for your insurance or estate planning needs.
Our commitment to you is to source the solution to meet your ever changing needs from basis investments to the most complicated planning process.