Summit Wealth Management Group Inc

Item 5: Fees & Compensation

    How We Are Compensated for Our Advisory Services

    The maximum annual fee for asset management services will be up to a maximum of 2.0% of the
    assets held in the managed account.

    Prior to engaging Summit Wealth Management Group (SWMG) to provide investment management
    services, you are required to enter into a formal investment advisory agreement with us setting
    forth the terms and conditions, including the amount of investment advisory fees, under which we
    manage your assets and also a separate custodial/clearing agreement with LPL Financial.

    LPL Financial is responsible for calculating and debiting all fees from client accounts. Clients must
    provide LPL Financial written authorization to debit advisory fees from their accounts and pay such
    fees directly to our firm. You should review your account statements received from LPL Financial
    and verify that appropriate investment advisory fees are being deducted. LPL Financial will not
    verify the accuracy of the investment advisory fees deducted.

    Fees charged for our asset management services are charged based on a percentage of assets under
    management, billed in advance (at the start of the billing period) on a quarterly calendar basis and
    calculated based on the fair market value of your account as of the last business day of the current
    billing period. Fees are prorated (based on the number of days service is provided during the initial
    billing period) for your account opened at any time other than the beginning of the billing period. If
    asset management services are commenced in the middle of a billing period, the prorated fee for
    the initial billing period is billed in arrears at the same time as the next full billing period’s fee is
    billed.

    The asset management services continue in effect until terminated by either party (i.e., Summit
    Wealth Management or you) by providing written notice of termination to the other party. Any
    prepaid, unearned fees will be promptly refunded by LPL Financial to you. Fee refunds will be
    determined on a pro rata basis using the number of days services are actually provided during
    the final period.

ADV Part 2A – Firm Brochure                         Page 8                         Summit Wealth Management Group, Inc.

    Fees charged for our asset management services are negotiable based on the type of client, the
    complexity of the client's situation, the composition of the client's account (i.e., equities versus
    mutual funds), the potential for additional account deposits, the relationship of the client with the
    investment adviser representative, and the total amount of assets under management for the client.
    Summit Wealth Management believes that its annual fee is reasonable in relation to: (1) services
    provided and (2) the fees charged by other investment advisers offering similar services/programs.
    However, our annual investment advisory fee may be higher than that charged by other investment
    advisers offering similar services/programs. In addition to our compensation, you may also incur
    charges imposed at the mutual fund level (e.g., advisory fees and other fund expenses).
    You can open a Strategic Wealth Management (SWM) non-wrap fee or SWM wrap-fee account.
    With a non-wrap fee account, in addition to our investment advisory fee, you also pay certain
    transaction charges to defray the costs associated with trade execution. These costs are set out in
    the LPL Financial Strategic Wealth Management platform brokerage account and application
    agreement. With a wrap-fee you do not pay transaction charges associated with trade execution.

    You may incur certain charges imposed by third parties other than Summit Wealth Management in
    connection with investments made through the account including, but not limited to, 12b-1 fees and
    surrender charges, and IRA and qualified retirement plan fees. Our management fees (which
    include transaction and execution fees charged by LPL Financial for wrap-fee accounts) are
    separate and distinct from the fees and expenses charged by investment company securities that
    may be recommended to you. A description of these fees and expenses are available in each
    investment company security’s prospectus.

    The Strategic Wealth Management accounts may cost you more or less than if the assets were held
    in a traditional brokerage account. In a brokerage account, you are charged commissions for each
    transaction, and the registered representative assigned to the account, if any, has no duty to
    provide ongoing advice with respect to the account. If you plan to follow a buy and hold investment
    strategy for the account or do not wish to purchase ongoing investment advice or management
    services, you should consider opening a brokerage account rather than a Strategic Wealth
    Management account.

    The cost for a SWM non-wrap fee account is typically higher than a SWM wrap fee account. This is
    because transaction costs are passed along to you in SWM non-wrap fee accounts while the
    transaction costs are covered under the overall fee charged for SWM wrap fee accounts.

    Certain investment adviser representatives of Summit Wealth Management are also associated with
    LPL Financial as broker-dealer registered representatives (“Dually Registered Persons”). They do
    not earn commissions on the sale of securities or investment products recommended or purchased
    in advisory accounts through Summit Wealth Management. See Item 10 – Other Financial Industry
    Activities and Affiliations for further information regarding our investment advisor representatives’
    affiliation as registered representatives of LPL Financial.

  Retirement Plan Services and Third-Party Fees
...

Item 7: Types of Clients & Account Requirements

    We have the following types of clients:
       • Individuals and High Net Worth Individuals;
       • Trusts, Estates or Charitable Organizations;
       • Corporations, Limited Liability Companies and/or Other Business Types.

    Our requirements for opening and maintaining accounts or otherwise engaging us:
       • We generally require a minimum household account size of $500,000 for our Asset
           Management service.
       • We generally charge a minimum fee of $3,000 for written financial plans.

    These requirements may be waived depending on the scope of the engagement. The investment
    adviser representative ultimately holds the discretion to waive account requirements.

ADV Part 2A – Firm Brochure                        Page 15                      Summit Wealth Management Group, Inc.