Financial Planning Consultants
Summit Financial Partners
About
Important information
- Pending Government Action:Government Action: BBB reports on known government actions involving business’ marketplace conduct:Massachusetts Securities Division vs. Ryan Skinner
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."
About This Business
Years in Business: 20
Photos and Videos
Business Details
- BBB File Opened:
- 10/1/2015
- Business Started:
- 1/5/2005
- Business Incorporated:
- 1/1/2014
- Type of Entity:
- Corporation
- Business Management:
- Mr. Ryan Skinner, Owner
- Ms. Susan Koerber, Case Manager
- Number of Employees:
- 5
Additional Contact Information
- Principal Contacts
- Mr. Ryan Skinner, Owner
- Customer Contacts
- Ms. Susan Koerber, Case Manager
- Fax numbers
- Primary Fax: (781) 281-7276
Additional Information
- Business Categories
- Financial Planning Consultants
More Resources
Featured Content
BBB Business Profiles may not be reproduced for sales or promotional purposes.
BBB Business Profiles are provided solely to assist you in exercising your own best judgment. BBB asks third parties who publish complaints, reviews and/or responses on this website to affirm that the information provided is accurate. However, BBB does not verify the accuracy of information provided by third parties, and does not guarantee the accuracy of any information in Business Profiles.
When considering complaint information, please take into account the company's size and volume of transactions, and understand that the nature of complaints and a firm's responses to them are often more important than the number of complaints.
BBB Business Profiles generally cover a three-year reporting period, except for customer reviews. Customer reviews posted prior to July 5, 2024, will no longer be published when they reach three years from their submission date. Customer reviews posted on/after July 5, 2024, will be published indefinitely unless otherwise voluntarily retracted by the user who submitted the content, or BBB no longer believes the review is authentic. BBB Business Profiles are subject to change at any time. If you choose to do business with this company, please let them know that you checked their record with BBB.
As a matter of policy, BBB does not endorse any product, service or business. Businesses are under no obligation to seek BBB accreditation, and some businesses are not accredited because they have not sought BBB accreditation. BBB charges a fee for BBB Accreditation. This fee supports BBB's efforts to fulfill its mission of advancing marketplace trust.