FAQs

To provide you with background information regarding Summit Advisory Services, following are answers to commonly asked questions. This statement is in lieu of Form ADV Part II, required by the Securities and Exchange Commission, to be given to all potential clients by investment advisors prior to any contractual agreement. This information should be considered before becoming a client. This information has not been approved or verified by any government authority.

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What is Summit Advisory Services, LLC? | Summit Advisory Services, LLC is a financial planning and investment consulting firm registered with the State of Missouri as a Registered Investment Advisor.
What is a Registered Investment Advisor? | A Registered Investment Advisor is a fiduciary who has a duty of undivided loyalty to his investment advisory clients and must deal fairly and honestly with them. Any person or entity that holds itself out as a financial planner must be registered with Securities and Exchange Commission, or with the state, as an Investment Advisor. A Registered Investment advisor is a representative of the client.

What does Summit Advisory Services, LLC sell? | Financial planning advice regarding taxes, investments, insurance, estate planning, pensions, retirement, capital needs analysis, business succession planning, asset management, and general financial matters.

Whom do we serve? | Individuals, corporations, small businesses, estates and trusts.

Who can benefit most by our services? | Any client who has a financial, tax or investment problem, or who wishes to plan prudently for his or her financial future. Furthermore, clients who desire a higher, more sophisticated level of financial or investment planning services than they are receiving from their other advisors may find our programs appealing.

How much money do you need to start a financial planning program? | There is no minimum or maximum dollar required. We recognize that persons with modest assets have financial problems or needs as well.

What is a financial plan? | An overall review of your financial situation, taking into account your goals and objectives and focusing on such areas as: income tax planning, estate planning, investment analysis and planning, risk management, educational planning and retirement. The plan analyzes and recommends ways that you can achieve your financial objectives. Depending on your specific desires and needs, some or all of these areas will be addressed by the plan, which may be presented orally or in writing upon request.

What are assets under management? | It is the allocation and management of your investment portfolio, based upon your individual objectives, risks tolerance and other factors. Clients will be provided with regular periodic reports as to how their investments have performed. Summit Advisory Service, LLC also offers asset management services through other various sub-advisers.

How much do we charge for our services? | Fees for financial planning will be determined according to the complexity of the plan, individual net worth and the areas to be addressed. Fixed fee plans are also available. Our initial meeting is generally free of charge, unless otherwise agreed upon.

Are the fees tax deductible? | Section 212 of the Internal Revenue Code permits an itemized deduction for tax and/or investment advice, subject to certain restrictions.

Do we sell financial planning products such as investments and insurance? | Yes.

Does Summit Advisory Services, LLC invest in financial products recommended to their clients? | At times, the principals of Summit Advisory Services, LLC may invest in products recommended to the client. Client accounts are always given priority. In any case, Summit Advisory Services is too small an investor to noticeably affect the market or to benefit significantly for the client's investing.

Does Summit Advisory Services, LLC suggest broker-dealers to clients? | The principals and associates of Summit Advisory Services, LLC are registered representatives of Walnut Street Securities, Inc (WSS) members of the NASD/SIPC. If the client chooses to implement advice through principals and associated persons of Summit Advisory Services, LLC, the broker-dealer is Walnut Street Securities, Inc., and affiliated persons may receive commissions. However, the client does have the choice to use other broker-dealers.

If you use Summit Advisory Services, LLC to develop a financial planning program, are you obligated to purchase the recommended products? | Absolutely not.

Does Summit Advisory Services, LLC provide tax preparation or legal services? | No. Summit Advisory Services, LLC is a financial consultant and investment adviser only. However, tax preparation and legal services are available from other sources.

What types of Securities do we provide advice about? | Exchange-listed securities; securities traded OTC; certificates of deposit; U.S. Government Securities; corporate bonds; municipal bonds; mutual funds; unit trust; real estate; variable annuities; and variable life.

What method of analysis do we use to evaluate investments? | Technical, charting and cyclical analysis are used, as well as a fundamentals approach, which takes into account economic conditions, earning, industry outlook, politics (as it relates to the investment), historical data, price-earnings ratios, dividends, general level of interest rates, company management and tax benefits. We attempt to select the client's investments to harmonize with his or her financial objectives.

Do we guarantee investment performance? | No.

What are the principal sources of information we use? | Summit Advisory Services, LLC utilizes the general media of domestic, international and governmental newspapers, bulletins, magazines, books, and other publications. Materials prepared by investment companies, corporate rating services, and research releases prepared by others are also consulted.

What type of investment strategies do we generally recommend? | Summit Advisory Services, LLC generally makes long-term recommendations with occasional short-term strategies as the circumstances may indicate.

Will Client information be kept confidential? | Yes. It is the law.

Once a program is completed, does our relationship end? | Absolutely not. Working with Summit Advisory Services, LLC is a process and not a "one shot" transaction. We offer ongoing service, periodic review, and day-to-day consultation as necessary. Additional fees may be charged for these services.

How do you get started? | Contact us at (314) 480.1393 or e-mail info@summit-advisory.com. Tell us your challenge or need and we'll let you know if and how we can be of assistance to you.