Summit Brokerage Services, Inc.

Summit Brokerage Services, Inc.

A member of Cetera Financial Group

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595 S. Federal Highway

Boca Raton, FL 33432

(800) 354-5528

joinsummit.com

Clearing firm: First Clearing LLC, Pershing LLC

No. advisers: 428

Year founded: 1993

Year end: Dec. 31

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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 ContactVincent Chiera
800-354-5528
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 reps428541528
No. of producing reps487551
No. of reps producing $100K-$499K /year00
2017 2016 2015
Total revenues$161,930,427$144,458,417$111,000,000
Commission revenues$87,533,668$90,732,932$72,600,000
Fee revenues$51,012,895$35,384,895$27,600,000
Total revenues: Other$23,383,864$18,340,590$10,800,000
2017 2016 2015
Total account assets$17,682,266,761$17,608,435,680$12,200,000,000
Fee-based assets$4,555,101,952$4,134,628,629$2,700,000,000
Total account assets: Other$13,127,164,809$13,473,807,051$9,500,000,000
Average assets per rep$32,684,412$33,349,310$23,106,061

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...

Independent broker-dealers hit a wall

April 22, 2017 - As commission revenue continued its decline in 2016 and headwinds from regulators stiffened, the independent broker-dealer industry hit a wall, with the top 25 firms — those with roughly $250 million and more in total revenue — collectively reporting...

Top independent broker-dealers reveal their payout tables

January 22, 2017 - The 2017 InvestmentNews independent-broker-dealer directory is based on information provided by 90 eligible firms. To be considered for future listings, contact INResearch@investmentnews.com. Visit InvestmentNews.com/bddata for more-complete profiles....

Texas regulator bans adviser from selling alts, including nontraded REITs

October 6, 2016 - The Texas State Securities Board has banned a broker from recommending alternative investments, including nontraded real estate investment trusts, after the broker loaded up a client with too many of those investments. The broker, Mickey Long, was hit...

Cetera's parent company appoints three new board members, including former head of eMoney Advisor

June 16, 2016 - Aretec, the parent company of Cetera Financial Group, this morning rounded out its board of directors and announced the appointment of three veteran executives to its seven-person board. The three new directors are Mary Cranston, a noted attorney; Robert...

    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.

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