Wealth manager, independent · Lafayette, LA
Summit Financial Wealth Advisors
Summit Financial Wealth Advisors, LLC · SEC-registered investment adviser · CRD 171278 · SEC 801-79686
At a glance
Summit Financial Wealth Advisors is an SEC-registered investment adviser based in Lafayette, Louisiana, with $1.8B in regulatory assets under management as of its Form ADV filed July 29, 2026. It reports 1,208 individual clients, 268 of them high-net-worth, holding an average of about $1.3 million each, and 22 employees. That ranks it 614th among the nation’s 5,657 independent wealth management RIAs and 3rd of 46 in Louisiana. It reports Charles Schwab as the custodian for its clients’ separately managed accounts.
Main office 337-232-1141summit-financial.comLinkedInAs filed on Form ADV
- Regulatory AUM
- $1.8B
- Rank among independent wealth managers
- #614 of 5,657
- Rank among all SEC RIAs
- #3,859 of 17,210
- Rank in Louisiana
- #3 of 46
- Individual clients
- 1,208
- High-net-worth clients
- 268
- Accounts
- 3,011
- Discretionary
- 96% of AUM
- Employees
- 22
- Advisory staff
- 17
- Offices
- 6
Owners and executives on its Form ADV
- David R. DanielManaging Partner
- Suzette BroussardChief Compliance Officer/partner
- Todd F. LambertPartner
- Michael E. PharrPartner
- Wesley A. GautreauxPartner/business Development
- Charles L. RayPartner
- Douglas W. DanielController/partner
- Lena S. OrmondIar/partner
Custody and brokerage
Broker-dealer
Hybrid RIA
Summit Financial Wealth Advisors is a hybrid RIA: 3 of its employees are also registered representatives of a broker-dealer. It reports a broker-dealer among its affiliates on Form ADV.
Its Form ADV brochure (filed March 2026) names Purshe Kaplan Sterling Investments, an unaffiliated broker-dealer, as the broker-dealer its advisers are registered with.
ecurities or Other Investment Products Certain of our Company's advisory personnel are also registered representatives of Purshe Kaplan Sterling Investments, ("PKS"), a securities broker-dealer that is not affiliated with Summit Financial.
Who it serves
| Client type | Clients | Regulatory AUM | Share |
|---|---|---|---|
| High-net-worth individuals | 268 | $1.2B | 65% |
| Individuals | 940 | $418M | 23% |
| Corporations or other businesses | 30 | $99M | 5% |
| Pension and profit sharing plans | 21 | $91M | 5% |
| Charitable organizations | 5 | $13M | <1% |
| State or municipal government entities | 1 | $7M | <1% |
Disciplinary disclosures
Summit Financial Wealth Advisors reports no disciplinary disclosures in Item 11 of Form ADV. Read the details on the SEC’s adviser search ↗
Services
- Financial planning
- Portfolio management for individuals and small businesses
- Pension consulting
- Selecting other advisers
- Other services
How it’s paid
- A percentage of assets under management
- Hourly charges
- Fixed fees
Form ADV and brochures on the SEC’s adviser search ↗summit-financial.com ↗
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- Assets, accounts, clients and staff, ten years of filings
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- 8 namedLocked
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Free while Atlas launches: create a free account and confirm your email. Every figure comes from SEC filings.
Similar-size RIAs in Louisiana
All of Louisiana →| Firm | Regulatory AUM | Clients |
|---|---|---|
| Stokes Family Office LLCNew Orleans | $3.4B | 724 |
| Waters, Parkerson & Co., LLCNew Orleans | $2.9B | 741 |
| Argent Advisors, Inc.Ruston | $1.7B | 1,410 |
| Beam Wealth Advisors, Inc.Covington | $1.6B | 2,207 |
| FPL Capital Management, LLCMetairie | $1.1B | 268 |
Background
Questions
How much does Summit Financial Wealth Advisors manage?
Summit Financial Wealth Advisors reports $1.8B in regulatory assets under management across 3,011 accounts, 96% of it on a discretionary basis, on its Form ADV filed July 29, 2026.
How many clients does Summit Financial Wealth Advisors have?
It reports 1,208 individual clients: 268 high-net-worth individuals and 940 other individuals. Individuals account for about 88% of its regulatory assets.
Where is Summit Financial Wealth Advisors headquartered?
Its main office is in Lafayette, Louisiana. It reports 6 offices in total and 22 employees, 17 of whom perform investment advisory functions.
How does Summit Financial Wealth Advisors charge clients?
On Form ADV it lists these forms of compensation: a percentage of assets under management; hourly charges; fixed fees. Fees and minimums are set out in its Form ADV Part 2A brochure, available on the SEC’s adviser search.
What custodian does Summit Financial Wealth Advisors use?
It reports Charles Schwab as the custodian for its clients’ separately managed accounts. On Schedule D of its Form ADV filed July 29, 2026, it reports these amounts held: Charles Schwab ($1.6B). Form ADV lists only custodians holding 10% or more of separately managed account assets.
Is Summit Financial Wealth Advisors a hybrid RIA with a broker-dealer?
Summit Financial Wealth Advisors is a hybrid RIA: 3 of its employees are also registered representatives of a broker-dealer. It reports a broker-dealer among its affiliates on Form ADV. Those representatives can also earn commissions on brokerage business through the broker-dealer, where different rules apply than for advisory accounts.
Is Summit Financial Wealth Advisors a fiduciary?
As an SEC-registered investment adviser, Summit Financial Wealth Advisors owes its advisory clients a fiduciary duty under the Investment Advisers Act of 1940, which includes duties of care and loyalty. 3 of its employees are also registered representatives of a broker-dealer, where different rules apply to brokerage recommendations.
Where these numbers come from
Every figure is Summit Financial Wealth Advisors’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). Custodians come from Schedule D 5.K(3) of its latest filing (2026-07-29), which lists those holding 10% or more of separately managed account assets and the amount at each. “Hybrid” means some employees are also registered representatives of a broker-dealer (Item 5.B(2)); affiliated broker-dealers are the related persons it lists in Item 7.A and Schedule D. Firm type comes from its own answers: broker-dealer firms are registered broker-dealers themselves (Item 6.A); private fund advisers manage mostly private funds (Item 7.B, 5.D); wealth managers manage at least half their assets for individuals (5.D). Its national rank compares it with every US-based independent wealth management RIA, the same field as The Largest RIAs. Figures are as of the firm’s last annual update, so they can lag recent deals and market moves. Regulatory AUM counts assets the firm continuously supervises and can differ from what a firm markets.
Not an endorsement or a recommendation. Before hiring any adviser, read its Form ADV Part 2A brochure and check its record on the SEC’s adviser search. How to check a financial advisor →