Questions about Summit Financial Consulting

Is Summit Financial Consulting independent?

Yes. Summit Financial Consulting is an independent, fiduciary advisory firm. Because we are not tied to a single product provider, we have a large toolbox to consider when evaluating the appropriate solutions for a client's specific goals and risk tolerance. As a fiduciary, our team is required to act in the client's best interest when evaluating those solutions.

Think of it like choosing a drill instead of a screwdriver: both can get the job done, but the goal is to choose the optimal tool for your situation.

How does Summit Financial Consulting consider taxes in its recommendations?

Summit Financial Consulting considers tax efficiency as part of the broader planning process because investment, retirement, and tax decisions often affect one another.

When additional tax input is helpful, Summit Financial Consulting can involve CPAs and accountants to review recommendations from a tax-efficiency standpoint before important decisions are made.

Can my CPA, attorney, or another advisor work with Summit Financial Consulting?

Yes. Clients are welcome to continue working with the professionals they already know and trust. Summit Financial Consulting can collaborate with your CPA, attorney, insurance professional, or another financial advisor. We are happy to hold joint meetings when it is helpful to coordinate recommendations before a financial decision is made.

Why does Summit Financial Consulting start with a financial plan?

Summit Financial Consulting starts with the broader financial picture because investments, retirement income, Social Security, taxes, insurance, gifting, and estate decisions can all affect one another. Rather than looking only at an investment portfolio, the financial plan helps our team understand how those decisions work together.

How does Summit Financial Consulting get paid?

Summit Financial Consulting is compensated through investment-management fees and financial-planning fees, depending on the engagement. Investment-management fees are generally based on the assets Summit Financial Consulting manages. Financial planning may also be available separately for clients who prefer planning without investment management.

Specific fees and compensation arrangements are described in Summit Financial Consulting's Form ADV Part 2A and client agreement.

How do tax, insurance, and estate-planning needs fit into Summit Financial Consulting's process?

Summit Financial Consulting takes a coordinated approach to financial planning, recognizing that investment decisions often overlap with taxes, insurance, and estate planning.

When those needs come into play, clients can draw on related Summit resources, local insurance partners, and attorneys, or continue working with professionals they already know and trust. Tax preparation is available through Summit Tax Services, group health insurance and ancillary benefits through Summit Health Services, property and casualty insurance through Summit Insurance Services and local agency partners, and estate-planning documents through attorneys.

The goal is to help clients keep the different parts of their financial lives working together without requiring them to replace the professionals they already use.