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Business ProfileforSummit Financial Partners
Additional business information
The following describes a pending government action that has been formally brought by a government agency but has not yet been resolved. We are providing a summary of the governments allegations, which have not yet been proven.
On 12/17/2019 the Massachusetts Securities Division announced that it had filed an Administrative Complaint against Ryan Skinner, president of Summit Financial. The Complaint alleges that Skinner acted as an unregistered investment adviser along with Summit Financial Partners. The MA Securities Division alleges that the business transacts as investment advisers while encouraging MA residents to liquidate their retirement accounts to purchase high-commission insurance products. The MA Securities Division alleges that, although Skinner/Summit Financial Partners purport to offer personalized financial advice and planning services to their clients, they merely sell the same fixed indexed annuity products to virtually of their clients.
The business provided the following response:
“Summit Financial Partners, Inc. has an unblemished record in the Commonwealth of Massachusetts in its business of providing annuities, insurance policies and related products to its clientele.
Ryan Skinner, a principal of Summit, also has a similarly unblemished record.
Summit does not sell securities nor does it provide security advice. The Massachusetts Securities Division is incorrect in stating that Summit may have provided such advice. Summit is working with the Division to correct its confusion on the issue. Summit Financial Partners, Inc. has an unblemished record in the Commonwealth of Massachusetts in its business of providing annuities, insurance policies and related products to its clientele."
At-a-glance
Related Categories
Overview
Business Details
- Location of This Business
- 91 Montvale Ave Ste 104, Stoneham, MA 02180-3649
- BBB File Opened:
- 10/1/2015
- Years in Business:
- 19
- Business Started:
- 1/5/2005
- Business Incorporated:
- 1/1/2014
- Type of Entity:
- Corporation
- Number of Employees:
- 5
- Business Management
- Mr. Ryan Skinner, Owner
- Ms. Susan Koerber, Case Manager
- Contact Information
Principal
- Mr. Ryan Skinner, Owner
Customer Contact
- Ms. Susan Koerber, Case Manager
- Additional Contact Information
Fax Numbers
- (781) 281-7276Primary Fax
Email Addresses
- Primary
- Sales
- (781) 281-7276
Customer Complaints
0 Customer Complaints
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