Summit Wealth Managment, Inc. (Schaumburg)

Summit Wealth Managment, Inc. is a large advisory firm based in Schaumburg. It manages $53.26 million of regulatory assets for 130 client accounts. It has been registered with the SEC as an adviser since 2003 and has operated in the jurisdictions of Arizona, Georgia, and Illinois.

Summit Wealth Managment provides financial planning services and portfolio management for individuals and small businesses. It prepares financial plans for more than 25 clients. On top of advisory services, the firm doesn't engage in other business activities.

Summit Wealth Managment: assets under management

The assets under management (AUM) of Summit Wealth Managment, Inc. is $53.26 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 0% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $53.26 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $409.68 thousand each.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Summit Wealth Managment, Inc. for their services and products based on a percentage of assets under management, hourly charges, fixed fees, and performance-based 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.

Careers at Summit Wealth Managment, Inc.

Farokh Bill Billimoria has served as the Chief Investment Officer since 1 Nov 2003. Inc. Summit Capital Holdings joined the executive team most recently as the Direct Owner.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Farokh Bill Billimoria	Chief investment officer	1 Nov 2003	Other	1103365
Inc. Summit Capital Holdings	Direct owner	1 Nov 2003	75% - 100%	34-1858904
Angelo Anthony Alleca	Principal	1 Nov 2003	Other	2326763
Mark Darren Morrow	Principal	1 Nov 2003	Other	1708880
Summit Capital Equity Group	Direct owner	1 Nov 2003	75% - 100%	16-1575034

Indirect Owners

The SEC currently registers 2 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Mark Darren Morrow	Principal	1 Oct 1997	50% - 75%	1708880
Angelo Anthony Alleca	Principal	1 Oct 1997	50% - 75%	2326763

Based in Schaumburg

The principal office where Summit Wealth Managment, Inc. performs its advisory services is located at 1933 N Meacham Rd, Ste 200, Schaumburg, IL 60173, which is also the mailing address of the firm. An additional office of the firm is in Alpharetta, GA. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 847-925-1800 or by fax 847-925-1802. The normal business hours are 8:30 am - 5:00 pm on Monday - Friday.