Wealth manager, independent · New York, NY
Summit Trail Advisors, LLC
SEC-registered investment adviser · CRD 220519 · SEC 801-99352
At a glance
Summit Trail Advisors, LLC is an SEC-registered investment adviser based in New York, New York, with $20B in regulatory assets under management as of its Form ADV filed September 4, 2026. It reports 639 individual clients, 588 of them high-net-worth, holding an average of about $26 million each, and 94 employees. That ranks it 48th among the nation’s 5,657 independent wealth management RIAs and 9th of 408 in New York. It reports 3 custodians for its clients’ separately managed accounts: BNY Pershing, Charles Schwab and Fidelity.
Main office 212-812-7010summittrail.comLinkedInAs filed on Form ADV
- Regulatory AUM
- $20B
- Rank among independent wealth managers
- #48 of 5,657
- Rank among all SEC RIAs
- #874 of 17,210
- Rank in New York
- #9 of 408
- Individual clients
- 639
- High-net-worth clients
- 588
- Accounts
- 9,778
- Discretionary
- 55% of AUM
- Employees
- 94
- Advisory staff
- 31
- Offices
- 17
Owners and executives on its Form ADV
- Jack B. PetersenManager/member
- David W. RomhiltChief Investment Officer
- Joseph ErigoChief Compliance Officer
- Alan RaboyChief Financial Officer
Custody and brokerage
Broker-dealer
Hybrid RIA
Summit Trail Advisors, LLC is a hybrid RIA: 25 of its employees are also registered representatives of a broker-dealer. It names an affiliated broker-dealer: Summit Trail Securities, LLC.
- Summit Trail Securities, LLC ↗CRD 285784
It doesn’t hold client accounts or customer funds itself. Its annual audited report filed with the SEC, March 2026
Its Form ADV brochure (filed March 2026) names The Leaders Group and Summit Trail Securities as the broker-dealer its advisers are registered with.
Certain Advisory Persons are also registered representatives of The Leaders Group, Inc.
Who it serves
| Client type | Clients | Regulatory AUM | Share |
|---|---|---|---|
| High-net-worth individuals | 588 | $16B | 82% |
| Corporations or other businesses | 56 | $2.5B | 12% |
| Charitable organizations | 9 | $925M | 5% |
| Individuals | 51 | $194M | <1% |
| Pension and profit sharing plans | 38 | $16M | <1% |
Private funds
Summit Trail Advisors, LLC reports 16 private funds with $2.0B in gross assets: hedge funds, private equity funds, real estate funds (Form ADV Item 7.B).
Disciplinary disclosures
Summit Trail Advisors, LLC 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
- 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
Form ADV and brochures on the SEC’s adviser search ↗summittrail.com ↗
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- Assets, accounts, clients and staff, ten years of filings
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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 New York
All of New York →| Firm | Regulatory AUM | Clients |
|---|---|---|
| Tiedemann Advisors, LLCNew York | $31B | 407 |
| Silvercrest Asset Management Group LLCNew York | $28B | 1,081 |
| Arax Advisory PartnersNew York | $27B | 15,155 |
| Citizens Private WealthTarrytown | $17B | 2,465 |
| Evercore Wealth Management, LLCNew York | $16B | 731 |
| Williams Jones Wealth Management, LLCNew York | $12B | 1,517 |
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- Summit Trail Advisors, LLC vs Arax Advisory Partners $27B · New York, NY
Background
Questions
How much does Summit Trail Advisors, LLC manage?
Summit Trail Advisors, LLC reports $20B in regulatory assets under management across 9,778 accounts, 55% of it on a discretionary basis, on its Form ADV filed September 4, 2026.
How many clients does Summit Trail Advisors, LLC have?
It reports 639 individual clients: 588 high-net-worth individuals and 51 other individuals. Individuals account for about 83% of its regulatory assets.
Where is Summit Trail Advisors, LLC headquartered?
Its main office is in New York, New York. It reports 17 offices in total and 94 employees, 31 of whom perform investment advisory functions.
How does Summit Trail Advisors, LLC charge clients?
On Form ADV it lists these forms of compensation: a percentage of assets under management; hourly charges; fixed fees; performance-based 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 Trail Advisors, LLC use?
It reports 3 custodians for its clients’ separately managed accounts: BNY Pershing, Charles Schwab and Fidelity. On Schedule D of its Form ADV filed September 4, 2026, it reports these amounts held: BNY Pershing ($6.2B); Charles Schwab ($2.9B); Fidelity ($2.3B). Form ADV lists only custodians holding 10% or more of separately managed account assets.
Is Summit Trail Advisors, LLC a hybrid RIA with a broker-dealer?
Summit Trail Advisors, LLC is a hybrid RIA: 25 of its employees are also registered representatives of a broker-dealer. It names an affiliated broker-dealer: Summit Trail Securities, LLC. Those representatives can also earn commissions on brokerage business through the broker-dealer, where different rules apply than for advisory accounts.
Is Summit Trail Advisors, LLC a fiduciary?
As an SEC-registered investment adviser, Summit Trail Advisors, LLC owes its advisory clients a fiduciary duty under the Investment Advisers Act of 1940, which includes duties of care and loyalty. 25 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 Trail Advisors, LLC’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 (2026-09-04), 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 →