West Virginia Owned, Serving Across the USA

We are happy to announce that our name has changed from Summit Brokerage Services to Summit Financial Networks. We are now a region of Cetera Advisor Networks LLC.

Do you have questions or concerns about retirement planning, or your IRA/401K? Would you like to talk to an advisor on how to invest your money, or what investment options are available? Summit Financial Networks is here to assist you and we offer no-cost, no obligation, consultations. Our advisors will work with you to create a plan for retirement, provide advice in an early retirement "buy-out" offer, and assist you with your IRA/401K from past employers.

We are a full-service brokerage firm with advisors that can help you invest your money, plan for retirement, assist in Estate planning, set-up 529 college savings plans, life insurance, long-term care insurance, and Medicare Supplement/Prescription Drug insurance. Please look at our products and services page for more information on what we offer. 

2020 Is Here and There are Some Changes You Should Be Aware Of

 We have made a summary of some of the most important tax changes that may effect your RMD and IRA below:

  • Required minimum distribution (RMD) age has increased to age 72.
  • The age 70 1/2 trigger for taking a RMD has been raised to 72, therefore individuals who attain age 70 1/2 after 2019 will not be required to take RMD until 72 thereafter.
  • There has also been changes to stretch IRA restrictions.
  • Upon the death of an IRA owner, the beneficiary is required to draw down the entire inherited interest within 10 years.
  • This 10 year rule does not apply to payments going to a surviving spouse, who can stretch the distributions over life or a period not exceeding their life expectancy.

Investors should consider the investment objectives, risks and charges and expenses of the funds carefully before investing. The prospectus contains this and other information about the funds. Contact Phillip Burton at 304-363-0073 to obtain a prospectus, which should be read carefully before investing or sending money.

Check out the background of this investment professional on FINRA's BrokerCheck.

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