DFX Intelligence

RIA Intelligence

Registered investment advisers, the advisors registered through them, the capital they report, the private vehicles they run and the people who own them, as a graph with a filing date behind every number. RAUM is what the adviser filed, a move is two registration dates, and a class is a rule you can read.

Former SEC-registered adviser

Summit Advisor Solutions

Former SEC-registered adviserDallas, TexasCRD 118581SEC 801-60900IAPD
Legal name Sas Capital Management, LLC
Latest filing Nov 30, 2016
First filing on the tape Mar 28, 2012 · 33 filings
RAUM
$2.0B
reported, Item 5.F
Discretionary
100%
of RAUM
Private clients
0.0%
$0 individuals and HNW
Advisors
0
registered through the firm on IAPD
RAUM per advisor
n/a
derived; firm RAUM over IAPD count
Employees
3
0 advisory (5.B.1)
Offices
n/a
beyond the principal office
Private funds
0
reported on Schedule D
History
33 filings and snapshots on the tape
RAUM$2.0B as of Mar 31, 2016
Mar 28, 2012$690M then
HNW client RAUM: no history
State-registered IARs (5.B.3)7 as of Mar 31, 2016
Apr 1, 20131 then
Employees (5.A)36 as of Mar 31, 2016
Apr 1, 201322 then
Private funds: no history
RAUM +5.7% over the last fiscal year+30% a year over threeIARs 1 to 1
Practice profile
derived from the filing of Nov 30, 2016; every figure names its basis
RAUM per advisor
$2.0BderivedRAUM over IAPD advisors; not a book size
Clients per advisor
unknownderivedindividual and HNW clients (5.D) over advisors
Average HNW client
unknownderivedHNW RAUM over HNW clients
Average account
$191,936derivedRAUM over accounts (5.F.2.f)
Discretionary
100%derivedof RAUM
Institutional
0.0%derivedpensions, charities, corporations, government, insurance, banks, other advisers
Employees per advisor
3.0derivedItem 5.A over advisors
Advisors per office
0.3derived3 offices incl. principal (1.F.5)
RAUM growth, one year
+5.7%derivedbetween the last two annual amendments
Advisor growth, one year
+600%derivedItem 5.B.3 between annual amendments
Client growth, one year
unknownderived
Compensation
percentage of assetsreportedItem 5.E
Advisory activities
portfolio management for individuals, selection of other advisersreportedItem 5.G
Ownership
no PE, bank or public-company owner found on Schedule Aderived
Advisor book size
not public; not estimatedreported
Also answered yes on Form ADV
  • buys or sells securities as principal to or from clients (8.A.2)
  • has discretionary authority over which securities are bought or sold (8.C.1)
  • receives research or other products from a broker-dealer, soft dollars (8.E)
  • compensates persons for client referrals (8.G.1)
  • compensates non-employees for client referrals (8.G.2)
Where the RAUM sits
Form ADV Item 5.D, latest filing
This filing has no Item 5.D breakdown (filings before 2017 reported ranges, not amounts).
Individual clients
n/areported
HNW clients
n/areported
Pension plan clients
n/areported
Charitable clients
n/areported
Accounts
10,213reported
Financial planning clients
n/areported
Wrap fee programs
noreported
Custody of client assets
noreported
Compensation
% of AUMreported
Class basis
absent from the latest SEC rosterderived
Advisors registered through the firm
0 on IAPD today, longest tenure first
No representative is registered through this CRD on IAPD.
Advisor movement
Joined, latest
Every departureEvery arrival
Private funds
No private fund reported.
Owners and control persons
Schedule A and B, latest filing
  • Joseph Timothy Feehan · Chief Executive Officercontrol
    since 03/2015 · owns 10% to 25%
  • Edward Michael Lester · Presidentcontrol
    since 04/2015 · owns 10% to 25%
  • Burt Mark Richison · Cfocontrol
    since 03/2016 · owns less than 5%
  • Keith Larry Anders · Larry Anders Is A Member Of Summit Alliance Capital, LLCcontrol
    since 09/2000 · owns 50% to 75% of Summit Alliance Capital, LLC
  • Joseph Timothy Feehan · Timothy Feehan Is A Member Of Sca Holdings, LLC.control
    since 07/2014 · owns 25% to 50% of Sca Holdings, LLC
  • A Gina Lester · Gina Lester Is A Partner Of Timber Ridge Partners, LPcontrol
    since 06/2001 · owns 25% to 50% of Timber Ridge Partners, L.P.
  • Edward Michael Lester · Michael Lester Is A Partner Of Timber Ridge Partners, LPcontrol
    since 06/2001 · owns 25% to 50% of Timber Ridge Partners, L.P.
  • Jay Ronald Robertson · Ronald Robertson Is A Member Of Sca Holdings, LLC.control
    since 07/2014 · owns 25% to 50% of Sca Holdings, LLC
  • Joseph Nicholas Rossi · Chief Compliance Officer
    since 05/2016 · owns less than 5%
Entity owners
  • Sas Capital Partners, LLC · Owner
    direct · owns 75% or more
  • Aequitas Management, LLC. · Aequitas Management, LLC Is A Member Of Aequitas Holdings, LLC
    indirect · owns 75% or more of Aequitas Holdings, LLC
  • Argentus Holdings, LLC · Argentus Holdings, LLC Is A Member Of Sas Capital Partners, LLC
    indirect · owns 25% to 50% of Sas Capital Partners, LLC
  • North Timber Capital, Lc · North Timber Capital Is A General Partner Of Timber Ridge Partners
    indirect · owns F of Timber Ridge Partners, LP
  • Sca Holdings, LLC. · Sca Holdings, LLC Is A Member Of Sas Capital Partners, LLC
    indirect · owns 75% or more of Sas Capital Partners, LLC
  • Summit Alliance Capital, LLC · Summit Alliance Capital, LLC Is A Member Of Argentus Holdings, LLC
    indirect · owns 75% or more of Argentus Holdings, LLC
  • Timber Ridge Partners, L.P. · Timber Ridge Partners, LP Is A Member Of Summit Alliance Capital, LLC
    indirect · owns 25% to 50% of Summit Alliance Capital, LLC
Related persons
Schedule D 7.A
Advisers that list Summit Advisor Solutions as a related person
Offices
Schedule D 1.F, the 25 largest
  • Dallas, TX
  • Gig Harbor, FL
What changed
consecutive filings, newest first
  • Advisory employees · 8 to 0
    May 5, 2016 to Nov 30, 2016
  • BD registered reps · 10 to 0
    May 5, 2016 to Nov 30, 2016
  • Employees · 36 to 3
    May 5, 2016 to Nov 30, 2016
  • Insurance-licensed employees · 7 to 1
    May 5, 2016 to Nov 30, 2016
  • State-registered IARs · 7 to 1
    May 5, 2016 to Nov 30, 2016
  • Accounts · 7,594 to 10,213
    Feb 23, 2016 to Mar 31, 2016
  • Advisory employees · 5 to 8
    Feb 23, 2016 to Mar 31, 2016
  • Advisory activities · 3 to 2
    Feb 23, 2016 to Mar 31, 2016
  • BD registered reps · 5 to 10
    Feb 23, 2016 to Mar 31, 2016
  • Employees · 20 to 36
    Feb 23, 2016 to Mar 31, 2016
  • Insurance-licensed employees · 9 to 7
    Feb 23, 2016 to Mar 31, 2016
  • Financial planning clients · 0 to unset
    Feb 23, 2016 to Mar 31, 2016
  • State-registered IARs · 1 to 7
    Feb 23, 2016 to Mar 31, 2016
  • Discretionary RAUM · $1.9B to $2.0B
    Feb 23, 2016 to Mar 31, 2016
  • RAUM · $1.9B to $2.0B
    Feb 23, 2016 to Mar 31, 2016
  • Legal name · ARGENTUS CAPITAL MANAGEMENT, LLC to SAS CAPITAL MANAGEMENT, LLC
    Jun 17, 2015 to Aug 7, 2015
  • Business name · ARGENTUS CAPITAL MANAGEMENT, LLC to SUMMIT ADVISOR SOLUTIONS
    Mar 31, 2015 to Apr 1, 2015
  • Accounts · 3,058 to 7,594
    Oct 14, 2014 to Mar 31, 2015
  • Advisory employees · 12 to 5
    Oct 14, 2014 to Mar 31, 2015
  • Employees · 19 to 20
    Oct 14, 2014 to Mar 31, 2015
  • State-registered IARs · 9 to 1
    Oct 14, 2014 to Mar 31, 2015
  • Discretionary RAUM · $439M to $1.9B
    Oct 14, 2014 to Mar 31, 2015
  • RAUM · $439M to $1.9B
    Oct 14, 2014 to Mar 31, 2015
  • Related broker-dealer · false to true
    Oct 14, 2014 to Mar 31, 2015
  • Accounts · 3,874 to 3,058
    Aug 1, 2014 to Oct 7, 2014
  • Discretionary RAUM · $847M to $439M
    Aug 1, 2014 to Oct 7, 2014
  • RAUM · $847M to $439M
    Aug 1, 2014 to Oct 7, 2014
  • Accounts · 5,700 to 3,874
    May 5, 2014 to Jul 30, 2014
  • Advisory employees · 8 to 12
    May 5, 2014 to Jul 30, 2014
  • BD registered reps · 14 to 5
    May 5, 2014 to Jul 30, 2014
  • Employees · 21 to 19
    May 5, 2014 to Jul 30, 2014
  • Insurance-licensed employees · 12 to 9
    May 5, 2014 to Jul 30, 2014
  • State-registered IARs · 12 to 9
    May 5, 2014 to Jul 30, 2014
  • Discretionary RAUM · $911M to $847M
    May 5, 2014 to Jul 30, 2014
  • RAUM · $911M to $847M
    May 5, 2014 to Jul 30, 2014
  • Accounts · 6,700 to 5,700
    Feb 28, 2014 to Mar 31, 2014
  • Advisory employees · 22 to 8
    Feb 28, 2014 to Mar 31, 2014
  • BD registered reps · 13 to 14
    Feb 28, 2014 to Mar 31, 2014
  • Employees · 22 to 21
    Feb 28, 2014 to Mar 31, 2014
  • Insurance-licensed employees · 1 to 12
    Feb 28, 2014 to Mar 31, 2014
Signals
No event on the tape.
Across DFX
shared identifiers only, never a name match
No identifier-backed link to the venture, private equity, family office or sponsor graphs.
Provenance
Form ADV
SEC filing data 2011 to 2024 and the monthly roster 2025 onreportedadviserinfo.sec.gov
Advisors
IAPD individual compilation feed, dailyreportedadviserinfo.sec.gov
Class
Former SEC-registered adviserderiveda rule over Items 5.D and 7.A
RAUM per advisor
n/aderivedfirm RAUM over the IAPD count; not a book size
Loaded
Sep 14, 2026