Richard Babjak
Richard Babjak is a ChFC-designated registered investment advisor at Summit Financial, LLC, based in Arlington Heights, IL, with 35 years of industry experience. Richard operates on a fee-only basis, meaning they do not earn commissions from product sales. Their practice areas include Education Planning, Estate Planning, Financial Planning & Coaching, High Net Worth, and 3 more. Their firm serves 9,865 clients with $15B in assets under management.
Compensation
Firm Size
Number of Clients
Average Client Portfolio
Assets Under Management
Fee Structure
Summit Financial offers various investment management programs. Financial advisors set their own advisory fees, but the maximum advisory fee for all programs is 1.50%. Clients in certain programs may also pay a program fee. Clients invested in the Tax-Deferred Strategies Portfolios are charged a monthly platform fee of $20/month by Nationwide, plus a "Low Cost Fund Platform Fee" up to 0.35% annually. Fees are negotiable.
Location
1650 N. Arlington Heights Road, Suite 204, Arlington Heights, IL, 60004
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Regulatory History (1)
Regulatory
December 2011Other Business ActivitiesSells Insurance
Richard owns rental property and is co-founder of a hedge fund, spending about 10-20% of his time on each. He also offers insurance as a broker or agent and works as an investment advisor for Summit Financial, taking about half of his time.
Employment History
Current Registrations
Summit Financial, LLC
World Equity Group, INC.Broker
Previous Registrations
Midway Wealth Partners, LLC
Benefit Funding Services, LLCBroker
World Equity Group, INC.
Ffp Securities, INC.Broker
Sunamerica Securities, INC.Broker
Cigna Securities, INC.Broker
State Registrations27 states
You can work with an advisor not registered in your state. Most advisors can legally serve a small number of clients across state lines without registering.