Summit Asset Management Llc
- Regulatory AUM
- $1.1B
- Discretionary
- $966M
- Clients
- 532
- Avg AUM / client
- $2.0M
- Accounts
- 1,522
- Employees
- 8
AUM over time
Annual snapshots from Form ADV filings · as of Mar 16, 2026
Who they serve
| Client type | Clients | AUM | % of AUM |
|---|---|---|---|
| Individuals (non-high net worth) | 315 | $108M | 10.0% |
| High net worth individuals | 200 | $877M | 81.2% |
| Pension and profit sharing plans | 12 | $17.3M | 1.6% |
| Charitable organizations | 5 | $76.1M | 7.05% |
| Corporations and other businesses | Fewer than 5 clients | $675K | 0.06% |
Retirement plan clients
Plans that reported this firm as an investment service provider on Form 5500 Schedule C.
| Plan | Location | Plan year |
|---|---|---|
| Baker Donelson Bearman Caldwell & Berkowitz Retirement Savings Plan Baker Donelson Bearman Caldwell & Berkowitz P.C. | 2024 |
People (7)
roster as of Jul 20, 2026| Name | Role / title | Credentials | With firm since | Ownership |
|---|---|---|---|---|
| John Norfleet Laughlin | Chief Executive Officer, President And Chief Compliance Officer | CFP | Apr 2004 (22y) | 25% – 50% |
| Lance Wayne Hollingsworth | Chief Investment Officer, Treasurer | CFP | Apr 2004 (22y) | 25% – 50% |
| Samuel Alexander Thompson | Chairman | Chartered Financial Consultant | Apr 2004 (22y) | Less than 5% |
| Adler, Peggy, Kriger | Chief Administrative Officer | Jan 2012 (15y) | Less than 5% | |
| Leslie Hill Drummond | Registered representative | CFP | Jan 2013 (14y) | |
| Soleil Katherine Lum | Registered representative | CFP | Sep 2018 (8y) | |
| Sarah Russell Haizlip | Registered representative | Jan 2025 (2y) |
Undisclosed: 0% – 50% of the firm is not attributable from the filed Schedule A bands.
Roster from the IAPD representatives feed; ownership and acquisition dates from Form ADV Schedule A/B. "Since" is the earliest filed registration or acquisition date.
Retirement plans served (1)
| Plan | Sponsor | Participants | Plan assets | As of |
|---|---|---|---|---|
| Baker Donelson Bearman Caldwell & Berkowitz Retirement Savings Plan | Baker Donelson Bearman Caldwell & Berkowitz P.C. | 1,160 | $628M | 01/01/2024 |
From Form 5500 service-provider disclosures.
Documents (1 archived)
| Form | Period | Size | |
|---|---|---|---|
| Form ADV (full filing) | 03/16/2026 | 949 KB | View · PDF · Source ↗ |
Archived copies of the firm's regulatory filings, versioned by content hash.
Disciplinary disclosures
No disciplinary events reported on the firm's latest Form ADV filing.
How they charge
- • Percentage of assets under management
- • Hourly charges
Services
- • Financial planning services
- • Portfolio management for individuals/small businesses
- • Portfolio management for businesses/institutional clients
- • Pension consulting services
- • Selection of other advisers
- • Other services
Custody
Reported custodians
- Charles Schwab & Co. $1.0B (95% of AUM) Mar 2026
Amounts as reported in ADV Item 5.K.(3) (custodians holding 10%+ of SMA assets).
Firm reports having custody of client funds or securities (Item 9.A).
Source
All data on this page comes from this firm's Form ADV filings, reproduced without modification. Latest filing: Mar 16, 2026.
View current Form ADV (SEC/IAPD) ↗