Summit Wealth Management

What Summit Wealth Management does

Summit Wealth Management, Inc. is a privately held independent wealth management practice founded in 1996, headquartered in Jamestown, New York, with a secondary office in Fredonia. The firm serves professionals, business owners, and pre-retirees across the United States, delivering comprehensive wealth management that bundles investment management, financial planning, insurance, tax planning, and estate services. Its go-to-market is relationship-led: advisors source clients through community involvement and an extensive content-driven Resource Center (articles, videos, calculators, glossary, tax resources) built on FMG Suite infrastructure, and prospects can self-educate before initiating contact.

Operationally, Summit sits inside the Osaic Wealth, Inc. broker-dealer network (FINRA/SIPC) for securities and the NWF Advisory Services, Inc. RIA for investment advisory, with New World Financial and Insurance Services handling insurance products. Clients access accounts through three custodial platforms: Vision2020 (OneView), AssetMark/eWealthManager, and Pershing/Osaic. The firm's signature client-facing tool is the Riskalyze Risk Number, a licensed risk-tolerance assessment that produces a quantifiable risk score used to align portfolios to client goals. Internally, the practice is small (11-50 employees), led by President and Wealth Manager Douglas L. Schutte, with partner-level advisors Noah Weinstein and Luke J. Buehler supporting service delivery alongside a team of registered and non-registered assistants.

Revenue is generated through two streams: AUM-based recurring advisory fees routed through NWF Advisory Services and transaction-based brokerage commissions earned via Osaic Wealth. Pricing is not publicly disclosed, which is typical for an RIA of this size and relationship model. Two recent operating signals — the 2022 relocation to a new Jamestown headquarters and the April 2023 Jamestown expansion grant — indicate the firm is investing in capacity, though neither implies a categorical strategic pivot.

Name

Summit Wealth Management

Legal name

Summit Wealth Management, Inc.

Website

https://summitwmi.com

Company type

Private

Founded year

1996

Operating status

Operating

Headcount range

11–50 employees

Short description

Summit Wealth Management is a privately held, relationship-based independent RIA founded in 1996 in Western New York, serving professionals, business owners, and pre-retirees with bundled investment, financial planning, tax, estate, and insurance services via the Osaic/NWF Advisory network.

Ownership category

akta.pro rank

Product category

Wealth Management

NAICS

Portfolio Management and Investment Advice (523940), Portfolio Management and Investment Advice (52394)

SIC

Investment Advice (6282)

akta.pro primary industry

Broker-Dealer Affiliated Wealth Advisory (FSAEABAB)

akta.pro secondary industries

Financial Planning & Goals-Based Advice (Mass Affluent) (FSAAAAAF), Full-Service Retail Brokerage & Wealth Platforms (FSAAAAAA), Retirement & Pension Wealth (401(k)/IRA/SIPP/Superannuation Retail) (FSAAAAAJ), Registered Investment Advisor (RIA) Wealth Management (FSAEABAA)

Keywords

• Wealth management services
• Retirement planning
• Investment advisory
• Financial planning services
• Insurance product brokerage

Headquarters

HQ city

Jamestown

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Investment Advisory Services: Fee-based investment advisory services offered through NWF Advisory Services, Inc., charging based on assets under management.
2. Brokerage Services: Securities offered through Osaic Wealth, Inc. member FINRA/SIPC, providing transaction-based compensation (commissions) for registered representatives.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels6 records

Core offering

Summit Wealth Management delivers fee-based investment advisory and brokerage wealth management services through Osaic Wealth, Inc. and NWF Advisory Services, Inc. Core offerings span investment management (stocks, bonds, IRAs, brokerage accounts, Treasury securities, variable annuities), holistic financial planning (retirement, tax, estate, college savings, 401(k)/403(b)), and insurance solutions (disability, life, long-term care). The firm also offers risk tolerance quantification via the Riskalyze Risk Number tool and supports clients with a Resource Center of educational content and calculators.

Product overview

Summit Wealth Management is a wealth management firm offering a unified platform combining investment management, financial planning, and insurance services. The core offering includes investment products (bonds, stocks, IRAs, brokerage accounts, annuities), financial planning (retirement, tax, estate, college plans), and insurance (disability, life, long-term-care). The platform is enhanced by the Riskalyze risk assessment tool for quantifying risk tolerance, a Resource Center with educational content, financial calculators, and client portal access through Vision2020, AssetMark, and Pershing custodians.

Differentiator

Problem solved

Functional benefit

Products and services

• Investment Management Comprehensive investment management services for individuals including bonds, common stock, IRAs (Traditional, Roth, SEP, Simple, Educational), brokerage accounts, Treasury securities, and variable annuities, delivered through Osaic Wealth, Inc. (brokerage) and NWF Advisory Services, Inc. (advisory).
• Financial Planning Holistic financial planning covering retirement plans, tax planning, 401(k) and 403(b) planning, college savings plans, estate planning, money purchase plans, and profit sharing plans for professionals, business owners, and pre-retirees.
• Insurance Services Insurance product access including disability income insurance, life insurance, and long-term-care insurance to protect families from the financial consequences of unexpected events; offered through New World Financial and Insurance Services, Inc.

Quantifiable outcome

• 4 out of 5 people have more risk in their portfolios than they previously realized - Riskalyze helps identify this misalignment

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature1 record

Partnerships

Three partnerships are on record, tiered core.

• Osaic Wealth, Inc.coreChannel Partner/ Reseller/ DistributorSecurities offered through Osaic Wealth, Inc., member FINRA/SIPC. Osaic is a separately owned company that provides brokerage infrastructure and regulatory oversight for Summit's securities business.
• NWF Advisory Services, Inc.coreChannel Partner/ Reseller/ DistributorInvestment advisory services offered through NWF Advisory Services, Inc. NWF provides the advisory infrastructure and regulatory framework for Summit's fee-based advisory services. Insurance products are offered through New World Financial and Insurance Services, Inc.
• RiskalyzecoreTechnology or IntegrationRiskalyze provides proprietary Risk Number technology that objectively calculates investor risk tolerance using a Nobel Prize-winning framework. Summit uses this technology as their primary risk assessment tool.

Scale indicators1 record

Recent moves7 records

Expansion highlights5 records

Direct peers

• Northwestern Mutual: Wealth management and insurance company combining financial planning, investment, and life insurance products through a network of financial advisors. Highly comparable because Summit's combined investment + financial planning + insurance stack mirrors Northwestern Mutual's holistic offering for mass-affluent and HNW households.
• LPL Financial: Largest independent broker-dealer in the U.S., supporting thousands of independent advisor practices that deliver investment advisory, retirement, and financial planning services. Highly comparable because Osaic, Summit's parent broker-dealer, competes for the same independent-advisor host segment.
• Edward Jones: Large retail wealth management franchise built on a national branch network of local advisors serving mass-affluent and pre-retiree households. Direct comparable because Summit's offices-in-Western-NY, relationship-led model targeting professionals and pre-retirees closely mirrors Edward Jones' community-based advisor strategy.
• Cetera Financial Group: Independent broker-dealer and RIA platform that hosts independent advisor firms offering wealth management, retirement planning, and insurance solutions. Direct peer because Summit operates as an independent practice on top of an Osaic/NWF platform, structurally analogous to Cetera's independent advisor model.
• Ameriprise Financial: Large diversified wealth management and advisory platform with a national network of independent franchise advisors serving mass-affluent and HNW clients. Direct comparable because Summit mirrors the Ameripreneur-style model of providing investment, financial planning, and insurance services through affiliated advisor practices.
• Cambridge Investment Research: Independent broker-dealer and RIA custodian that supports independent financial advisors in serving retail and mass-affluent clients with planning-led advice. Comparable as a sibling-sized independent advisor platform with a similar relationship-driven, planning-centric value proposition.

Others

• Riskalyze: Risk tolerance assessment and portfolio alignment technology provider (creator of the Risk Number tool) used by thousands of advisors, including Summit. Included as an OTHERS peer because it is a core technology supplier embedded in Summit's advisory workflow rather than a competitor.

Broad incumbents

• Raymond James Financial Services: Diversified financial services firm with an extensive independent advisor channel offering wealth management, retirement planning, and investment products. Comparable as a larger incumbent offering the same full-service retail wealth management suite that Summit provides through its broker-dealer affiliation.
• Fidelity Wealth Services: Wealth management division offering financial planning, investment advisory, and brokerage services through Fidelity advisors and the Investor Center network. Comparable as a broad incumbent retail wealth platform with a mass-affluent focus that competes with independent advisors like Summit.
• Charles Schwab Wealth Advisory: Wealth advisory arm of Charles Schwab providing goals-based planning and investment management for retail and mass-affluent investors. Comparable as a large incumbent in retail brokerage and advisory that competes for the same mass-affluent financial planning segment as Summit.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/SummitWealthMgt

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Summit Wealth Management