Description of Firm
Blue Summit Financial Group, Inc. doing business as Blue Summit Wealth Management ("Blue Summit
Wealth Management") is a registered investment adviser primarily based in La Mesa, CA. Blue
Summit Wealth Management has been incorporated in the State of California since January 2006, and
previously did business as Seid Financial (2000), and Judith L. Seid, Financial Consultant (1994).
The following paragraphs describe our services and fees. Refer to the description of each investment
advisory service listed below for information on how we tailor our advisory services to your individual
needs. As used in this brochure, the words "we," "our," and "us" refer to Blue Summit Wealth
Management and the words "you," "your," and "client" refer to you as either a client or prospective
client of our firm.
A. Financial Planning - Scope of Services
We offer financial planning services which typically involve providing a variety of advisory services to
clients regarding the management of their financial resources based upon an analysis of their
individual needs. These services can range from broad-based financial planning to consultative or
single subject planning. If you retain our firm for financial planning services, we will meet with you to
gather information about your financial circumstances and objectives. We may also use financial
planning software to determine your current financial position and to define and quantify your long-term
goals and objectives. Once we specify those long-term objectives (both financial and non-financial), we
will develop shorter-term, targeted objectives. Once we review and analyze the information you provide
to our firm and the data derived from our financial planning software, we will deliver a written plan to
you, designed to help you achieve your stated financial goals and objectives.
Financial plans are based on your financial situation at the time we present the plan to you, and on the
financial information you provide to us. You must promptly notify our firm if your financial situation,
goals, objectives, or needs change.
Pursuant to California Code of Regulations, 10 CCR Section 260.235.2, Blue Summit Wealth
Management hereby makes the following statement: in the context of providing financial planning
services, a conflict exists between the interest of Blue Summit Wealth Management and the interests
of the client. This conflict exists because as part of its financial plan, a client can be advised to engage
us for portfolio management services which will provide additional income to our firm. Further, the
client is under no obligation to act upon Blue Summit Wealth Management recommendations, and if
the client elects to act on any of the recommendations, the client is under no obligation to affect the
transactions through Blue Summit Wealth Management and always has the right to implement any
investment advice at any financial institution of their choosing.
All material conflicts of interest under CCR Section 260.238 (k) are disclosed regarding the investment
adviser, its representatives or any of its employees, which could be reasonably expected to impair the
rendering of unbiased and objective advice.
While the firm endeavor at all times to offer clients its specialized services at reasonable costs, the
fees charged by other advisers for comparable services may be lower than the fees charged by Blue
Summit Wealth Management.
B. The Blue Summit Experience
Blue Summit Wealth Management has developed "The Blue Summit Experience" in order to lead our
clients through the process of goal identification, analysis of client's current financial situation and
development of recommendations that will assist client in meeting their long term personal and
financial goals. This may include lifetime cash flow projections taking into consideration all expected
sources of income and assets, life goals, planned expenses, cash flow needs, inflation, and taxes.
Clients are then provided with a total portfolio recommendation to include investments, insurance, tax
planning, & estate planning recommendations. Updates of client's financial plan are provided on an
annual basis. Coordination with client's tax & estate planning professionals is provided, if needed.
“Our heart-felt commitment to putting our clients' needs first drives our
high-level, professional approach to financial services.”
The following areas are analyzed during the “Blue Summit Experience”
• Lifestyle & Life Goals
• Retirement Planning
Objectives
• Real Estate Analysis
• Cash Flow Needs
• Transition Planning
• Retirement Account
Analysis
• College Funding
• Inheritance Planning
• Risk Tolerance Analysis
• Investment Planning &
Recommendations
• Life Insurance Needs Analysis
• Long Term Care Insurance Needs
• Risk Management Review
• Tax Planning
• Estate Planning
Clients who request a comprehensive financial plan are provided a written plan that may include a
personal balance sheet and lifetime cash flow and other projections. Because financial plans are by
their nature forward looking, some assumptions and projections of these assumptions such as inflation
or the estimated life of a client must be made. Blue Summit Wealth Management, does not forecast,
project or guarantee performance of investments. All reports, financial statement projections and
analyses are intended exclusively for the clients use in developing and implementing their financial
plan. In view of this limited purpose, the statements should not be considered complete financial
statements. It is likely that there will be differences between projected and actual results because
events vary, and circumstances frequently do not occur as expected and such differences may be
material.
The financial plan assumptions and reports are primarily a tool to alert clients to certain possibilities.
The reports are not intended to nor do they provide any guaranty about future
events including an
individual’s investment returns. The implementation of the plan is solely the client's responsibility and
at the clients’ discretion. Similar services may be available from other providers for more or less than
the fees charged by Blue Summit Wealth Management. Clients always have the right to implement any
investment advice at any financial institution of their choosing.
A financial planning engagement letter is signed by both client and advisor at the start of the agreed
upon work. Blue Summit Wealth Management does not provide any ongoing oversight or
management of financial plans, strategies, assets or investments. The financial planning engagement
may provide for an annual (or otherwise agreed upon and indicated time period) periodic review and
update of the plan.
In addition, Blue Summit Wealth Management provides pension consulting services. Depending on
the needs of the client and size of the business, this may include advising business owners on the
selection of pension plan options such as 401k, SEP, Simple, or other plan types. As well, Blue
Summit Wealth Management may provide educational meetings for employees and plan participants to
assist in understanding their retirement plan choices. This is normally provided on an annual or semi-
annual basis, or as agreed upon by advisor and client. This may include education on asset allocation,
risk vs. return, plan overview, vesting, matching contributions, Roth vs. Traditional contributions, loan
provisions, and online account access among others topics.
Blue Summit Portfolio Management Services
Clients choosing Blue Summit Wealth Management to provide ongoing portfolio management services
enter into a written Investment Advisory Agreement, where Blue Summit Wealth Management and our
investment adviser representatives provide portfolio management services on a continuous and
ongoing basis guided by the individual needs of the client. Using the information provided by you, the
investment advice and recommendations are tailored to your individual situation. We regularly inquire
about, and you are responsible for providing updated information about your investment goals, time
horizon, and risk tolerance.
We use a third-party platform to facilitate management of held away assets such as defined
contribution plan participant accounts, with discretion. The platform allows us to avoid being
considered to have custody of Client funds since we do not have direct access to Client log-in
credentials to affect trades. We are not affiliated with the platform in any way and receive no
compensation from them for using their platform. A link will be provided to the Client allowing them to
connect an account(s) to the platform. Once Client account(s) is connected to the platform, Adviser will
review the current account allocations. When deemed necessary, Adviser will rebalance the account
considering client investment goals and risk tolerance, and any change in allocations will consider
current economic and market trends. The goal is to improve account performance over time, minimize
loss during difficult markets, and manage internal fees that harm account performance. Client
account(s) will be reviewed at least quarterly and allocation changes will be made as deemed
necessary.
Pension Consulting Services
We offer pension consulting services to employee benefit plans and their fiduciaries based upon the
needs of the plan and the services requested by the plan sponsor or named fiduciary. In general, these
services may include an existing plan review and analysis, plan-level advice regarding fund selection
and investment options, education services to plan participants, investment performance monitoring,
and/or ongoing consulting. These pension consulting services will generally be non-discretionary and
advisory in nature. The ultimate decision to act on behalf of the plan shall remain with the plan sponsor
or other named fiduciary.
We may also assist with participant enrollment meetings and provide investment-related educational
seminars to plan participants on such topics as:
• Diversification
• Asset allocation
• Risk tolerance
• Time horizon
Our educational seminars may include other investment-related topics specific to the particular plan.
We may also provide additional types of pension consulting services to plans on an individually
negotiated basis. All services, whether discussed above or customized for the plan based upon
requirements from the plan fiduciaries (which may include additional plan-level or participant-level
services) shall be detailed in a written agreement and be consistent with the parameters set forth in the
plan documents.
Written Acknowledgement of Fiduciary Status
When we provide investment advice to you regarding your retirement plan account or individual
retirement account, we are fiduciaries within the meaning of Title I of the Employee Retirement Income
Security Act and/or the Internal Revenue Code, as applicable, which are laws governing retirement
accounts. The way we make money creates some conflicts with your interests, so we operate under a
special rule that requires us to act in your best interest and not put our interest ahead of yours. Under
this special rule’s provisions, we must:
• Meet a professional standard of care when making investment recommendations (give prudent
advice);
• Never put our financial interests ahead of yours when making recommendations (give loyal
advice);
• Avoid misleading statements about conflicts of interest, fees, and investments;
• Follow policies and procedures designed to ensure that we give advice that is in your best
interest;
• Charge no more than is reasonable for our services; and
• Give you basic information about conflicts of interest.
Wrap Fee Programs
We do not participate in any wrap fee program.
Assets Under Management
As of December 2022, we provide continuous management services for $ 152,113,004.00 in client
assets on a discretionary basis.