Summit Wealth & Retirement Planning, Inc. (Danville)

Name: Summit Wealth & Retirement Planning, Inc.
Address: 55 Oak Ct, Suite 210, Danville, CA, 94526
Telephone: 925-927-1900

Summit Wealth & Retirement Planning, Inc. is a large advisory firm based in Danville. It manages $417.48 million of regulatory assets for 637 client accounts. It has been registered with the SEC as an adviser since 2016 and has operated in the jurisdictions of California, Nevada, New York, Oregon, and Texas.

Summit Wealth & Retirement Planning provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, pension consulting services, and selection of other advisers. It prepares financial plans for more than 50 clients. On top of advisory services, the firm doesn't engage in other business activities.

Summit Wealth & Retirement Planning: assets under management

The assets under management (AUM) of Summit Wealth & Retirement Planning, Inc. is $417.48 million. The firm's AUM has grown by 92% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $329.14 million in discretionary accounts and $88.34 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $581.52 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $1.24 million.

Summit Wealth & Retirement Planning has custody of $100.94 million in cash and securities for 27 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 49% of the total AUM. The second-largest asset type is investment and business development companies, which make up 26% of the firm’s portfolio. Investments in cash and cash equivalents form 12% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Summit Wealth & Retirement Planning, Inc. for their services and products based on a percentage of assets under management and fixed fees. Compensation based on assets under management promotes a long-term relationship between a client and the adviser and helps align mutual interests. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Robert Anthony Cucchiaro serves?

The firm provides services to individuals, high net worth individuals, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Robert Anthony Cucchiaro is high net worth individuals with 103 clients and $340.85 million of assets under management. Among the 10 most similar advisory firms, Summit Wealth & Retirement Planning has the 5th highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $417.48 million for 216 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. None of the firm’s clients are foreign persons or businesses.

Summit Wealth & Retirement Planning doesn't advise any private funds.

Careers at Summit Wealth & Retirement Planning, Inc.

The company employs 10 people that are either part- or full-time employees. 60 percent of the employees work as investment advisers or researchers. 6 employees are registered as investment adviser representatives with the state securities authorities.

There isn’t anyone with the role of looking for and bringing in new clients on behalf of the firm. The firm doesn’t compensate employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Robert Anthony Cucchiaro has been acting as President since 1 Sep 2012. Harold King Porter joined the executive team most recently as the Principal/Cfo.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Harold King Porter	Principal/cfo	1 Jan 2006	25% - 50%	1192910
Robert Anthony Cucchiaro	President/chief compliance officer	1 Sep 2012	50% - 75%	4582239

Based in Danville

The principal office where Summit Wealth & Retirement Planning, Inc. performs its advisory services is located at 55 Oak Ct, Suite 210, Danville, CA 94526, which is also the mailing address of the firm. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 925-927-1900 or by fax 925-927-1907. The normal business hours are 8 am - 4 pm on Monday - Friday. You can find more information about the New York firm at summitwealthandretirement.com and its LinkedIn profile.