What does Summit Trail Advisors do?
Summit Trail Financial Advisors is a registered investment advisor based in New York. Founded in 2015, the firm provides investment management and financial planning services led by human advisors rather than automated portfolios.
As of July 31, 2025, the firm reported managing approximately $26.2 billion in assets through both discretionary and non-discretionary relationships. Its team includes 13 investment professionals and 10 planning professionals.
Clients receive customized investment advice based on their financial goals, risk tolerance, and liquidity needs, with portfolios being reviewed and adjusted on an ongoing basis.
Core services
Based on its advisory business model, Summit Trail provides the following primary services:
- Investment advisory services: The firm offers management on both a discretionary and non-discretionary basis.
- Ongoing portfolio management: This includes periodic reviews based on performance, client objectives, and changes in underlying managers.
- Asset allocation and portfolio construction: Portfolios are designed to meet long-term objectives by allocating assets for growth, capital preservation, and inflation protection.
- Independent manager selection: Summit Trail utilizes third-party investment managers for specialized strategies, with continuous due diligence and monitoring.
- Private fund investment oversight: The firm conducts due diligence on private investment funds included in client portfolios.
- Financial planning and consulting: These services can be offered alongside investment management or as a standalone engagement, covering areas like estate planning and tax planning coordination.
- Family office–style services: The firm provides consolidated reporting, advisor coordination, philanthropic planning, and cash management assistance.
- Outsourced chief investment officer (OCIO) services: This offering supports institutional clients with investment policy development and manager selection.
- Retirement plan advisory services: Summit Trail acts as an ERISA 3(21) fiduciary, assisting plan sponsors with education and investment oversight.
How the service works
The firm’s services are delivered through ongoing relationships with its financial advisors, who are responsible for portfolio decisions, monitoring, and adjustments.
Portfolios are constructed using an asset allocation framework, with investments chosen to fulfill different roles such as growth or capital preservation.
The implementation may involve mutual funds, managed accounts, or allocations to independent managers for specialized strategies.
Clients can choose discretionary management, where advisors can execute trades within agreed-upon guidelines, or a non-discretionary arrangement that requires client approval before any changes are made.
What are the pros and cons of Summit Trail Advisors?
The strengths and weaknesses of Summit Trail Advisors are tied to its advisor-led, highly customized service model. While the firm is designed for clients with complex financial needs, this structure introduces higher costs and a level of advisor involvement that may not be suitable for every investor.
Here is a breakdown of the key pros and cons.
Pros of Summit Trail Advisors:
- Designed for complex financial needs: The service is structured for clients with situations involving multi-entity households, concentrated wealth, and advanced planning requirements.
- Broad and specialized client coverage: Summit Trail serves a wide range of clients, including professional athletes, entertainers, entrepreneurs, and institutions, allowing for an adaptable service model.
- Advisor-led, fiduciary management: Investment decisions are made by human advisors operating under a fiduciary standard, with portfolios tailored to each client.
- Flexible engagement structure: Clients can engage the firm on a discretionary or non-discretionary basis and can combine investment management with other planning services.
- Open-architecture investment approach: Portfolios are built using a broad universe of investment vehicles, including mutual funds, ETFs, and private funds, rather than proprietary-only products.
- Ongoing portfolio monitoring: Client portfolios are reviewed continuously, with adjustments driven by performance, market conditions, and changes in client objectives.
Cons of Summit Trail Advisors:
- Advisory fees can be high: Asset-based fees can reach up to 1.50% annually, which may be significantly higher than automated platforms.
- Some services involve high fixed fees: Stand-alone financial planning engagements may be priced on a fixed-fee basis, generally ranging from $5,000 to $75,000.
- Total costs can be layered: Clients using independent managers or private funds may incur additional management fees and expenses on top of Summit Trail’s advisory fee.
- May be more than simpler investors need: The firm’s focus on customized portfolios and complex planning may be unnecessary for investors with more straightforward situations.
- Human-advisor model may not suit everyone: Clients who prefer automated or self-directed investing may find an advisor-led service unnecessary.
Summit Trail Advisors is distinguished by its ability to support clients with complex financial lives through customized portfolio management and expanded planning services.
At the same time, its higher potential costs and reliance on human advisors make it less suitable for investors seeking low-cost, automated investment solutions.
Summit Trail Advisors fees: How much does Summit Trail Advisors cost?
Summit Trail Advisors charges asset-based fees for investment management that can be as high as 1.50% annually.
The final fee is negotiable and depends on factors like portfolio complexity and the overall client relationship.
Depending on the services used, clients may also incur additional costs for independent managers (up to 0.45% annually), fixed-fee financial planning (from $5,000 to $75,000), or hourly consulting ($500 to $1,000 per hour).
Core fees
| Service type | Fee structure | Typical range |
|---|---|---|
| Investment advisory services | Asset-based fee (or flat fee alternative) | Up to 1.50% annually |
| Independent managers / TAMPs | Additional asset-based fees | Up to 0.45% annually |
| Financial planning & consulting (stand-alone) | Fixed or hourly fees | $5,000–$75,000 fixed $500–$1,000/hour |
| Family office services | Included in advisory fee or separate fixed fee | Up to $300,000 |
| OCIO services (institutional) | Fixed annual fee | Approx. $150,000 per year |
| Retirement plan advisory services | Asset-based fee | 0.20%–0.50% annually |
Other fees and expenses
In addition to Summit Trail’s fees, clients may incur other investment-related costs from third parties.
These can include:
- Custody and account administration fees
- Transaction and execution costs
- Internal expenses for mutual funds and ETFs
- Private fund–related expenses
The firm’s pricing reflects a customized, advisor-led model. While the investment advisory fee can reach 1.50% annually, total costs may increase when other planning services or third-party managers are included.
What is Summit Trail Advisors’ minimum account size?
Summit Trail Advisors generally does not impose a firm-wide minimum relationship size or asset threshold to establish an advisory relationship.
How minimums work in practice
While there is no official minimum, some specific investment strategies may require a certain asset level to be implemented effectively. However, these strategy-specific minimums can be waived at the firm’s discretion.
Summit Trail also offers flexibility in how fees are set, which means clients with similar profiles might pay different rates.
Who should choose Summit Trail Advisors?
Summit Trail Advisors is best suited for clients whose financial situations have grown beyond traditional, standardized wealth management. The firm’s advisor-led model emphasizes customization, multi-layered planning, and ongoing human oversight, making it a stronger fit for complex needs rather than simplified or automated investing.
Summit Trail Advisors work well for:
- High-net-worth and complex households: This includes individuals and families with concentrated wealth, multiple business entities, illiquid assets, or multi-generational planning needs who require a tailored approach.
- Clients seeking highly customized advice: The service is a good fit for investors who value custom-built portfolios, flexible fee arrangements, and the ability to combine investment management with comprehensive planning or institutional-style services.
- Professionals with non-traditional income: This includes entrepreneurs, executives, professional athletes, entertainers, and real estate families whose income, liquidity, or career paths require specialized financial coordination.
- Investors who prefer ongoing human guidance: The firm is designed for those who want direct access to experienced advisors for discretionary portfolio management and regular oversight, rather than relying on automated decision-making.
- Institutions and retirement plans: The service is also geared toward organizations that need an outsourced chief investment officer (OCIO) or fiduciary support for their retirement plans.
Who might not benefit as much:
- Cost-sensitive investors: Those whose primary focus is on minimizing fees may find lower-cost advisory services or automated platforms to be a more suitable choice.
- Hands-off, automation-first investors: If you prefer digital tools, standardized portfolios, and minimal human interaction, an advisor-led service may not be what you're looking for.
- Clients with straightforward financial needs: Individuals with simple portfolios and limited planning requirements may find the service to be more comprehensive than necessary.
- Active or self-directed traders: The service is built for long-term, managed portfolios, not for those who engage in frequent trading or prefer to select their own stocks.
Summit Trail Advisors: Is it secure?
Yes, Summit Trail Advisors is generally considered secure. It operates as a regulated, fiduciary investment advisor that uses standard industry safeguards. Crucially, it uses third-party custodians rather than holding client assets directly.
Regulatory oversight and fiduciary standard
Summit Trail Advisors is registered with the U.S. Securities and Exchange Commission (SEC) and operates under a fiduciary standard. This legally requires the firm to act in its clients’ best interests, disclose any potential conflicts of interest, and comply with federal regulations for registered investment advisors.
Custody of client assets
The firm does not directly hold client assets. Instead, client funds and securities are kept with qualified third-party custodians in accounts held in the client’s name. This structure separates the firm’s advisory role from the physical custody of assets and ensures that clients receive independent statements showing their holdings, transactions, and balances.
Cybersecurity and data protection
Summit Trail Advisors uses internal controls and information systems designed to reduce the risk of cybersecurity incidents, such as unauthorized access to clients’ personal information. The firm states that it applies administrative, technical, and physical safeguards and actively monitors its systems for potential breaches.
While these measures provide important structural protections, they do not eliminate all risks. Market risk, third-party risk, and the possibility of a cybersecurity event remain inherent considerations for any advisory client.
Summit Trail Advisors: Customer service
Customer service at Summit Trail Advisors is centered on a direct, advisor-led relationship, not a centralized support desk or digital help center. Clients interact with their dedicated advisory team as part of an ongoing engagement, rather than submitting tickets through a formal system.
For general inquiries, the firm provides standard customer service access through phone and email. With multiple office locations listed, Summit Trail also supports in-person meetings where appropriate, reflecting its geographically distributed advisory team.
Summit Trail Advisors: Mobile app
Summit Trail Advisors does not offer its own proprietary mobile app for clients.
Mobile or online access to account information, such as balances, transactions, and statements, is generally available through the client’s custodian or other third-party platforms. The specific mobile features and functionality will depend on the custodian used for the account.
Is Summit Trail Advisors worth it?
Summit Trail Advisors may be worth considering for clients with complex financial needs who value customized, advisor-led portfolio management and integrated planning services.
The firm’s strengths lie in its flexibility, depth of human advice, and ability to support specialized client situations, but these benefits come with higher potential costs, layered fees, and less emphasis on digital tools.
As a result, the service is generally better suited to investors who prioritize personalization and ongoing advisor relationships over low-cost, automated, or app-driven investing.
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