Wealth manager, independent · Roseville, MN
Summit Investment Advisory Services
Summit Investment Advisory Services, LLC · SEC-registered investment adviser · CRD 168594 · SEC 801-110650
At a glance
Summit Investment Advisory Services is an SEC-registered investment adviser based in Roseville, Minnesota, with $746 million in regulatory assets under management as of its Form ADV filed July 22, 2026. Its largest client group by assets is high-net-worth individuals, and it reports 1,075 individual clients. By Form ADV it is a wealth manager, ranked 2,038th of 8,915 wealth managers and 6,341st of 17,210 SEC-registered advisers by assets.
Main office 651-490-2939summitinvest.comLinkedInAs filed on Form ADV
- Regulatory AUM
- $746M
- Rank among wealth managers
- #2,038 of 8,915
- Rank among all SEC RIAs
- #6,341 of 17,210
- Rank in Minnesota
- #104 of 276
- Individual clients
- 1,075
- High-net-worth clients
- 320
- Accounts
- 2,466
- Discretionary
- 99% of AUM
- Employees
- 11
- Advisory staff
- 8
- Offices
- 3
Owners and executives on its Form ADV
- Sean P. McDermottCeo/president
- Russell D. RogersChief Compliance Officer
Custody and brokerage
Broker-dealer
Hybrid RIA
Summit Investment Advisory Services is a hybrid RIA: 8 of its employees are also registered representatives of a broker-dealer.
Its Form ADV brochure (filed February 2026) names LPL Financial as the broker-dealer its advisers are registered with.
an McDermott, Joel Budd, Brian Carlson, Scott Caskey, and Russell Rogers, in their roles as registered representatives with LPL Financial LLC and as licensed insurance agents, accept compensation for the sale of securities to SIAS clients.
Who it serves
| Client type | Clients | Regulatory AUM | Share |
|---|---|---|---|
| High-net-worth individuals | 320 | $445M | 60% |
| Individuals | 755 | $300M | 40% |
| Corporations or other businesses | – | $0M | <1% |
Disciplinary disclosures
Summit Investment Advisory Services 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
- Selecting other advisers
How it’s paid
- A percentage of assets under management
- Hourly charges
- Fixed fees
Form ADV and brochures on the SEC’s adviser search ↗summitinvest.com ↗
AtlasMembers
The full record on Summit Investment Advisory Services
Ten years of SEC filings, its owners and contacts, and how it stacks up against its peers. Atlas members see all of it.
- Assets, accounts, clients and staff, 8 years of filings
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- Growth over one, three and five years
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- Rank against 4,318 peers of its type and size
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- Owners and executives, with titles and stakes
- 2 namedLocked
- Main office, fax and compliance officer
- Locked
- Filing changes this year, with alerts
- 1Locked
Free while Atlas launches: create a free account and confirm your email. Every figure comes from SEC filings.
Background
Questions
How much does Summit Investment Advisory Services manage?
Summit Investment Advisory Services reports $746 million in regulatory assets under management across 2,466 accounts, 99% of it on a discretionary basis, on its Form ADV filed July 22, 2026.
What kind of firm is Summit Investment Advisory Services?
Summit Investment Advisory Services is a wealth manager by its Form ADV answers. At least half of its regulatory assets are managed for individuals and high-net-worth individuals.
Who are Summit Investment Advisory Services’s clients?
By assets, its largest client types are high-net-worth individuals ($445 million, 320 clients); individuals ($300 million, 755 clients); corporations or other businesses ($458,697).
Does Summit Investment Advisory Services have any disciplinary history?
Summit Investment Advisory Services reports no disciplinary disclosures in Item 11 of its Form ADV. Check the SEC’s adviser search for the latest record.
Where these numbers come from
Every figure is Summit Investment Advisory Services’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 (2026-07-22), 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). Ranks compare it by regulatory assets with every SEC-registered adviser and with firms of its type. 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 →