As a fee-only Washington State registered investment advisory firm, Summit Capital Advisors (Summit) provides Wealth Advisory Services that include Comprehensive Financial Planning and Investment Management to soon-to-be affluent[1], nearly affluent and wealthy[2] individuals, as well as business entities.
Investments, income and estate taxes, income for retirement: all are critically interdependent. This interdependency extends to business counseling and philanthropic decisions as well. At Summit, we have discovered the synergy of managing all aspects of your financial situation, enabling us to design and implement strategies that address specific individual situations while working together to achieve both short-term and long-term benefits of smarter tax strategies and improved investment decisions. We can also show you how to securely transfer money to loved ones, establish a trust or foundation or simply help you to manage your finances on a daily basis.
Summit provides unbiased advice to clients in need of recommendations tailored to their specific situations. Many of our clients are looking to improve after-tax results with regard to investments; some are concerned with the transfer of their wealth to the next generation or protecting their wealth. Others desire the simplicity and freedom of reducing the time they spend overseeing their affairs and want to eliminate the time spent dealing with multiple advisors. Our personalized Wealth Advisory Services provide a simple, effective alternative to the super-wealthy[3] families whose level of wealth exceeds an exclusive team of full-time advisors. We provide the same types of services for multiple clients.
The difference between serving…and selling
If the livelihood of those serving you is predicated on a commission from selling you products…whose interests are they serving? Summit receives compensation from managing assets for a fee. We also work on a retainer basis, a one-time project or hourly fee basis. The fee structure agreed upon depends on the best interest of each client.” This allows us to work solely for your benefit, acting in a fiduciary capacity when providing advice. Most of our competitors receive the bulk, if not all, of their compensation in the form of commissions from the products they sell. Often times these transactions come with hidden commissions and compensation fees that simply aren’t apparent. As ‘captives’ to product providers, these types of advisors are required by law to work in their firms’ best interest…not yours.
The power of teamwork
Due to the compensation (commissions) structure of our competitors, each advisor in these firms usually has his or her own set of clients. Two advisors, operating in a similar manner begs this question: which provides the higher level of service…and which is serving you? At Summit, there are never separate levels of service, because all clients are firm clients, receiving the same innovative level of advice, consideration, expertise and courtesy. Picture a professional football team. While every member of the team specializes in particular endeavors, they work together to reach the same common goal. Our advisors work in the same concerted manner, specializing in different areas yet working together on your behalf, ensuring the quality of advice and level of service are never, ever compromised.
This philosophy of teamwork extends to our working with your selected advisors in order to address your needs. Should you require advice in a particular area that is outside our professional arena (such as a labor attorney); we can recommend a prescreened professional to assist you.
Customized Solutions: because one size does NOT fit all
This is another major difference between Summit and our competitors. Many times our clients come to us with investments with a low cost basis. While many of our competitors would simply sell these assets and fit the proceeds into their investment offerings, Summit conducts a comprehensive analysis of all securities and their tax ramifications. Then and ONLY then would a strategy be developed and implemented once agreed upon by the client. Should a particular security prove to no longer fit the client’s portfolio, a plan to liquidate said asset would be developed. Generally, securities with a low cost basis would be whittled down over a period of time, utilizing losses from other securities. Summit maintains numerous investment management offerings that can be tailored to meet specific needs…and we are diligent in acquiring new, tax efficient investment strategies for the benefit of our clients.
The Beauty of Diversity
Because the emphasis is on serving rather than selling, Summit has developed extensive professional contacts throughout our tenure, picking the “best practices” of advisory firms from across the nation. Studied and improved, these best-of-the-best are then incorporated into our Wealth Advisory Services package. This enables Summit to provide a level of expertise that encapsulates all key areas of Wealth Advisory Services, including:
Consistent continuing education, training and industry associations keep Summit abreast of the latest industry and legislative changes, ensuring each client receives timely advice. Establishing trust, earning respect and developing lasting partnerships with our clients: this is our commitment. We put great value in our long-term client relationships in our capacity as advisors, partners…and, in many cases, friends.
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| Summit Meeting Room | Summit Reception Area | Summit Conference Room |
