Summit Brokerage Services, Inc.

Summit Brokerage Services, Inc.

A member of Cetera Financial Group

Share:

595 S. Federal Highway

Boca Raton, FL 33432

(800) 354-5528

joinsummit.com

Clearing firm: First Clearing LLC, Pershing LLC

No. advisers: 472

AUM: $15,336,487,503

Year founded: 1993

Year end: Dec. 31

You are currently viewing a limited portion of this firm's profile.

Subscribe or log in to the B-D Data Center for access to all available data.

Additional data available to subscribers:
  • No. of reps, male
  • No. of reps, female
  • No. of producing reps, male
  • No. of producing reps, female
  • No. of reps producing $500K+ /year
  • No. of CFPs
  • No. of full-time employees
  • No. of fee-based advisers served
  • Average payout per rep, per year
  • Avg. annual production of top 20% reps
  • Total payout, per year
  • Cost of E&O insurance per rep, per year
  • Affiliation fees charged per rep, per year
  • Affiliation fee coverage
  • Securities revenues
  • Securities revenues: Stocks
  • Securities revenues: Bonds
  • Securities revenues: ETFs
  • Securities revenues: Other
  • Mutual fund revenues
  • Annuities revenues
  • Annuities revenues: Fixed
  • Annuities revenues: Variable
  • Annuities revenues: Other
  • Insurance revenue
  • Insurance revenues: Life
  • Insurance revenues: Disabilities
  • Insurance revenues: LTC
  • Insurance revenues: Other
  • Alternative revenues
  • Alternative revenues: Hedge funds
  • Alternative revenues: Managed futures
  • Alternative revenues: Private placements
  • Alternative revenues: REITs
  • Alternative revenues: Other
  • Other commission revenues
  • Fee revenues: Rep-managed accounts
  • Fee revenues: Firm-managed accounts
  • Fee revenues: Outside-managed accounts
  • Fee revenues: Other
  • Fee-based assets: Clearing firm
  • Fee-based assets: Advisory firm platforms
  • Fee-based assets: Third-party money managers
  • Fee-based assets: Other
  • Is the firm, or an affiliate of the firm, registered as an investment adviser with the SEC?
  • Allows an adviser to have his/her own RIA
  • RIA platform AUM
  • Offers robo-advisory platform?
  • If not, when plans to offer a robo-platform
  • Robo-advice services offered
  • How robo-platform developed
  • Charge for robo-advisory services?

For More Information

CEOMarshall T. Leeds
Recruiting ContactRob Crowe
561-338-2698
E-mail
Compliance ContactFred Fram
(561) 338-2626
E-mail
Marketing ContactMichael Zuna
619-881-5277
E-mail
Technology Operations ContactMike Ragunas
310-257-7464
E-mail

Recruitment & Staffing

2018 2017 2016
No. of reps472541528
No. of producing reps421487551
No. of reps producing $100K-$499K /year000
2018 2017 2016
Total revenues$152,766,802$161,930,427$144,458,417
Commission revenues$80,436,685$87,533,668$90,732,932
Fee revenues$48,553,908$51,012,895$35,384,895
Total revenues: Other$23,776,209$23,383,864$18,340,590
2018 2017 2016
Total account assets$15,336,487,503$17,682,266,761$17,608,435,680
Fee-based assets$4,001,194,861$4,555,101,952$4,134,628,629
Total account assets: Other$11,335,292,642$13,127,164,809$13,473,807,051
Average assets per rep$32,492,558$32,684,412$33,349,310

Cetera Financial Group eliminating Summit as a separate broker-dealer

July 12, 2019 - One of Cetera Financial Group's six broker-dealers, Summit Brokerage Services Inc., is being absorbed into another of the firm's B-Ds. Summit has $17.5 billion in client assets. Its 450 advisers and its branch offices will continue to operate under the...

Finra slaps Summit Brokerage with fines, restitution over broker churning

July 2, 2019 - Summit Brokerage Services Inc. on Tuesday was hit with $880,000 in sanctions for a variety of supervisory failures, including not keeping tabs on a broker who for three years churned client accounts. In fact, compliance employees at Summit failed to take...

Top independent broker-dealers ranked by revenue

April 21, 2018 - Firm 2017 % revenue ($M) % change vs. 2016 2017 commission revenue ($M) % change vs. 2016 2017 fee revenue ($M) % change vs. 2016 2017 other revenue ($M) % change vs. 2016 1 LPL Financial $4,281.50 5.70% $1,670.80 -3.80% $1,409.20 9.30% $1,201.40 17.50%...

Cetera creates 'traditional' and 'specialty' channels for its six B-Ds

February 13, 2018 - Cetera Financial Group has reorganized its six broker-dealers into two "channels" — traditional and specialty. The traditional channel consists of Cetera Advisors, First Allied Securities and Summit Brokerage Services. Brett Harrison, now CEO of Cetera...

Finra bars former broker over unauthorized use of discretion

October 11, 2017 - The Financial Industry Regulatory Authority has barred former broker Kenneth Neuner after he failed to appear at a hearing looking into his unauthorized use of discretion. Mr. Neuner had been employed by Summit Brokerage Services until March, when the...

Cetera broker-dealers to pay back $3.3 million to clients overcharged for mutual funds

August 22, 2017 - Five Cetera Financial Group broker-dealers reached settlements with Finra totaling $3.3 million for failing to supervise the application of mutual fund sales charge waivers to eligible clients in retirement plans and at charitable organizations. As part...

Top independent broker-dealers by revenue and payout

April 23, 2017 - Top 50 IBDs ranked by 2016 revenue Bubble view By group Table view Firm 2016 revenue ($M) % change vs. 2015 2016 commission revenue ($M) % change vs. 2015 2016 fee revenue ($M) % change vs. 2015 2016 other revenue ($M) % change vs. 2015 1 LPL Financial...

    Notes
  • N/A = Not available
  • N/D = Not disclosed
  • — = Information not available or not disclosed

All 2011-2016 recruitment and staffing data is as of Dec. 31 in the calendar year displayed. Prior year recruitment and staffing data is as of Sept. 30. All financial figures are for firms' year end, unless noted.

Purchase the complete set of our independent broker-dealer data and profiles in an Excel spreadsheet.

For comments or suggestions about the Adviser Center, please contact us.

Disclaimer: All data and information is the property of InvestmentNews and is protected by copyright and other intellectual property laws. All rights are reserved by InvestmentNews. The data may only be used for internal business use such as to develop a mailing list but the data may not be resold, republished, redistributed, sublicensed or publicly displayed on a web site without the permission of InvestmentNews. All information contained within was obtained through InvestmentNews' annual independent B-D surveys.

X

Hi! Glad you're here and we hope you like all the great work we do here at InvestmentNews. But what we do is expensive and is funded in part by our sponsors. So won't you show our sponsors a little love by whitelisting investmentnews.com? It'll help us continue to serve you.

Yes, show me how to whitelist investmentnews.com

Ad blocker detected. Please whitelist us or give premium a try.