TrueAdvisor
TrueAdvisor
RB
ChFC
RB
ChFC

Richard Babjak

Summit Financial, LLC
36 Years of Experience
Libertyville, IL
1 DisclosureBrokerSells Insurance
View SEC Summary
View SEC Summary

Richard Babjak is a ChFC-designated registered investment advisor at Summit Financial, LLC, based in Libertyville, IL, with 36 years of industry experience. Richard is also registered as a broker, so some compensation may come from commissions on products sold. Their practice areas include Education Planning, Estate Planning, Financial Planning & Coaching, High Net Worth, and 3 more. Their firm serves 18,393 clients with $26B in assets under management.

Summit Financial, LLC
Compensation
Fee-Only (% of Portfolio)Fixed/Hourly
Firm Size
232 advisors
Number of Clients
18,393 clients
Average Client Portfolio
$1.4M average
Assets Under Management
$26.3B

Fee Structure

Minimum Investment:$100K

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.

View Full SEC Brochure

Location

1580 South Milwaukee Avenue, Suite 605, Libertyville, IL, 60048

Get directions

History

Regulatory History (1)
What are disclosures? Advisors must report customer complaints, regulatory actions, and certain legal or financial events to the SEC. Not all disclosures are serious—many are settled disputes or minor violations. Learn how to evaluate them.
Regulatory
December 2011
Final
View Full SEC ReportHow to Read Disclosures
Other 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
October 2024 - Present · 2 yrs
World Equity Group, INC.Broker
September 1997 - Present · 29 yrs 1 mo
Previous Registrations
Midway Wealth Partners, LLC
January 2023 - April 2025 · 2 yrs 3 mos
Benefit Funding Services, LLCBroker
December 2020 - February 2022 · 1 yr 2 mos
World Equity Group, INC.
November 1997 - October 2024 · 26 yrs 11 mos
Ffp Securities, INC.Broker
May 1993 - September 1997 · 4 yrs 4 mos
Sunamerica Securities, INC.Broker
October 1991 - May 1993 · 1 yr 7 mos
Cigna Securities, INC.Broker
July 1990 - October 1991 · 1 yr 3 mos
State Registrations27 states
ARAZCACOFLGAILINKSKYLAMAMIMNMTNCNENHNVORPASCTNTXVAWAWI
AdvisorBrokerBoth

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.

Exams
No exam information available for this advisor.
More Advisors
More financial advisors in Libertyville, IL →All financial advisors in Illinois →
Richard Babjak - Financial Advisor | TrueAdvisor