Summit Asset Management LLC

Summit Asset Management, LLC is an investment advisory firm based in Memphis, Tennessee, established in 1991. The firm specializes in investment management, financial planning, and special services for individuals, families, trusts, retirement plans, charitable endowments, and corporations. Summit manages over $837 million on a discretionary basis and $101 million on a non-discretionary basis as of December 31, 2024. The firm offers financial planning services addressing areas such as retirement planning, education spending, risk analysis, and more. Summit acts as a fiduciary when providing individual retirement advice, ensuring recommendations are in the client's best interest. The firm provides retirement plan advisory services, including investment selection, monitoring, and discretionary management. Summit operates on a fee-only basis, with portfolio management fees based on assets under management. The minimum portfolio value is generally set at $500,000. The firm does not have performance-based fees or side-by-side management arrangements. Clients have the option to grant Summit investment discretion, allowing the firm to manage their portfolios without prior consultation. The investment philosophy of Summit involves asset allocation based on client factors like risk tolerance and financial goals. The firm primarily invests in equity and fixed income funds, with a focus on growth and stability. Summit emphasizes diversification to mitigate risks, although all investment portfolios are subject to market fluctuations and potential losses. The team at Summit includes experienced professionals like John N. Laughlin, Lance W. Hollingsworth, and Sarah R. Haizlip, who are dedicated to providing comprehensive financial services to clients. The firm's commitment to transparency, fiduciary responsibility, and client-centered services underscores its dedication to helping clients achieve their financial goals.