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RIA comparison · SEC Form ADV

Arax Advisory Partners vs Summit Trail Advisors, LLC

Two independent wealth managers side by side: assets, clients, staff, services and fees, from each firm’s own filing.

The short answer

Arax Advisory Partners is the larger of the two, with $27B in regulatory assets to $20B at Summit Trail Advisors, LLC, 33% more than its rival, by their latest Form ADV filings. Arax Advisory Partners reports more individual clients (15,155 vs 639), while Summit Trail Advisors, LLC’s clients hold more on average (about $26 million each against $1.6 million). Both are based in New York, New York.

FigureArax Advisory PartnersSummit Trail Advisors, LLC
Regulatory AUM$27B$20B
National rank#39#48
HeadquartersNew York, New YorkNew York, New York
Individual clients15,155639
High-net-worth clients4,949588
Average client assets$1.6 million$26 million
Accounts39,1389,778
Discretionary90% of AUM55% of AUM
Employees36194
Advisory staff16831
Clients per advisory employee9021
Offices3917
Form ADV filed2026-08-142026-09-04

Arax Advisory Partners

Full profile →

Services

  • Financial planning
  • Portfolio management for individuals and small businesses
  • Portfolio management for pooled investment vehicles
  • Portfolio management for businesses and institutions
  • Pension consulting
  • Selecting other advisers
  • Educational seminars and workshops
  • Other services

How it’s paid

  • A percentage of assets under management
  • Hourly charges
  • Fixed fees
  • Performance-based fees
  • Other

Summit Trail Advisors, LLC

Full profile →

Services

  • Financial planning
  • Portfolio management for individuals and small businesses
  • Portfolio management for businesses and institutions
  • Pension consulting
  • Selecting other advisers
  • Other services

How it’s paid

  • A percentage of assets under management
  • Hourly charges
  • Fixed fees
  • Performance-based fees

Questions

Which is bigger, Arax Advisory Partners or Summit Trail Advisors, LLC?

Arax Advisory Partners, with $27B in regulatory assets under management against $20B at Summit Trail Advisors, LLC. Nationally they rank #39 and #48 among 5,657 independent wealth management RIAs.

How many clients do Arax Advisory Partners and Summit Trail Advisors, LLC have?

Arax Advisory Partners reports 15,155 individual clients (4,949 high-net-worth) with 168 advisory employees; Summit Trail Advisors, LLC reports 639 (588 high-net-worth) with 31 advisory employees.

How do Arax Advisory Partners and Summit Trail Advisors, LLC charge clients?

Only Arax Advisory Partners lists other forms of compensation on Form ADV. Fee schedules and minimums are in each firm’s Form ADV Part 2A brochure.

What services do Arax Advisory Partners and Summit Trail Advisors, LLC offer?

Arax Advisory Partners lists portfolio management for pooled investment vehicles; educational seminars and workshops, which Summit Trail Advisors, LLC does not. Both offer financial planning; portfolio management for individuals and small businesses; portfolio management for businesses and institutions; pension consulting; selecting other advisers; other services.

More comparisons

Where these numbers come from

Every figure is the firm’s own answer on its latest Form ADV, from the SEC’s registered-adviser list as of October 1, 2026: regulatory assets and accounts (Item 5.F), clients by type (5.D), employees (5.A and 5.B), compensation (5.E) and services (5.G). Average client assets divide the assets held for individual and high-net-worth clients by their number. Ranks compare each firm with all US-based independent wealth management RIAs, the same field as The Largest RIAs. Figures can lag recent deals and market moves.

Not an endorsement or a recommendation of either firm. Before hiring an adviser, read its Form ADV Part 2A brochure and check its record on the SEC’s adviser search: Arax Advisory Partners ↗, Summit Trail Advisors, LLC ↗. How to check a financial advisor →