T. Rowe Price Summit Program Frequently Asked Questions

Access the Summit Program Terms and Conditions.

The T. Rowe Price Summit Program is our tiered benefits program designed to equip you with exclusive benefits to help you invest more confidently. As you save more for retirement, college, and other goals, you gain entry to more benefits that reward you for investing directly with T. Rowe Price. We look forward to supporting your efforts with world-class services and expertise.

Assignment to a benefit tier is based on the amount of assets in qualifying accounts and other accounts that you or members of your Summit household have with T. Rowe Price. The program is subject to change without prior notice.

You become eligible for the Summit Program when you open and/or maintain a qualifying account with T. Rowe Price. As your Summit Balance grows, you gain access to higher tiers with expanding benefits.

Your Summit Balance automatically includes assets in qualifying accounts held by you and all members of your Summit household. That makes it easier for you to reach higher tiers sooner.

Summit Program Tiers:

You can access Summit benefits with a variety of investments. Your Summit Balance automatically reflects all assets held in qualifying accounts. All members of your Summit household contribute to this shared balance unless you specify otherwise.

Access a list of qualifying accounts.

The value of these investments are totaled in your household’s Summit Balance, helping you earn access to lower-cost I Class shares, premium content, and more.

Accounts owned by an entity typically don't qualify for the Summit Program. Qualifying accounts must be owned by one or more individuals. The only exception is a trust account. Access a list of qualifying accounts.

If you have at least one qualifying account in the Summit Program and you are a participant in certain types of workplace retirement plans serviced by T. Rowe Price, such as 401(k) or 403(b) plans, you may be able to authorize the inclusion of your retirement plan account balance as part of your Summit Balance.

You can authorize us to consider the vested portion of your workplace plan account balance as part of your Summit Balance. To do so, log in to your T. Rowe Price profile and indicate your desire to link your retirement plan accounts to the Program.

You can withdraw this authorization at any time.

Our systems periodically check for additional household assets. Your Summit Balance will reflect authorized workplace plan account balances as part of that process. Therefore, after your authorization, your Summit Balance may not immediately reflect your workplace account.

Note: Although these retirement plan accounts can contribute to your Summit Balance for Program tier eligibility, they will not receive product-level benefits.

For many clients, the Summit Balance that determines tier status within the Program will correspond to the client’s total portfolio balance. For other clients, the Summit Balance will differ from the total portfolio balance. For example, the Program’s householding feature can cause the Summit Balance to be greater than the total portfolio balance.

Your total portfolio balance reflects all assets in your T. Rowe Price accounts. Unlike your Summit Balance, it does not include the balances of your Summit household members' accounts. 

Also, some account types aren't eligible for the Summit Program. Your total portfolio balance includes all your accounts, while your Summit Balance reflects only those that qualify.

Log in to view your Summit tier.

If your tier doesn't match your expectation based on your total portfolio balance, it may be because:

• Your Summit Balance is recalculated periodically. It may not reflect recent market fluctuation or transactions.
• You are in a Summit household with other investors who hold qualifying accounts at T. Rowe Price, so your Summit Balance and tier reflect their assets.
• You have a workplace retirement plan account serviced by T. Rowe Price and have not authorized us to count the vested portion of that account toward your Summit Balance. Log in to your T. Rowe Price profile to see if this situation applies to you and link your retirement plan accounts, if desired.
• Your accounts are not eligible for the Summit Program. Account types for entities, such as estate and corporate accounts, generally are excluded from the program.

A Summit household is comprised of one or more members, each with at least one qualifying account. Members are automatically placed in the same household based on the address of record for each account and certain other criteria. You can contact us to request changes to your household.

The assets of all members' qualifying accounts (and any authorized workplace retirement plan account balances) determine the household's Summit Balance and Summit tier. Each household member has the same Summit tier, regardless of their respective account balances.

The householding feature of the Summit Program is designed to automatically group owners of qualifying accounts into a Summit household if they:

• Share the same address; and
• Share the same last name or are co-owners of a jointly owned account

We periodically run automated processes to identify and maintain Summit households based on these criteria.

You can check your Summit household and contact us with questions or requests.

If you have a legacy household established under the Select Client Services program, it continues under the Summit Program unless you contact us to opt out. However, we will not make future, automated changes to these households. We can still make manual updates at your request.

In most cases, your Summit household will automatically form based on your shared address and account details. If this doesn’t apply to you, or you wish to household with a member that does not have the same information, you can create a Summit household with another T. Rowe Price client. To proceed, please contact us. We will require the consent of all potential household members.

If you request to have other clients manually added to your household, we may not automatically maintain your household. You'll need to contact us for any future changes.

Also, we calculate the household’s Summit Balance on a periodic basis. Therefore, your Summit tier may not update immediately even if a manually added member would qualify your household for a higher tier.

You may opt out of the Summit household feature at any time. If so, your balances won't be combined with other clients for Summit Program eligibility. Your tier will be based on the total assets in your own qualifying accounts, including authorized workplace retirement accounts and any qualifying accounts you own jointly.

For joint accounts, the assets will also help determine the program tier for the other owner(s). Thus, no owner will be adversely impacted by a decision by any other owner to opt out of the household feature.

If you would like to opt out or prefer not to be included with one or more members of your Summit household, please contact us by phone.

As you achieve higher tiers in the Summit Program, you have a greater opportunity to invest to lower-cost I Class shares. Fees for I Class shares are 20% lower,¹ on average, than our Investor Class shares. If you had $500,000 exclusively in I Class shares, you could save, on average, $750 in the first year alone, compared to the same amount in Investor Class shares.

The Personal Services tier ($500,000 Summit Balance) and the Enhanced Personal Services tier ($1 million Summit Balance) offer preferred access to I Class shares of T. Rowe Price mutual funds.

The investment minimum is generally $50,000 for each qualifying fund account. If you have questions about your I Class eligibility, please contact us.

Otherwise, the minimum investment amount for I Class is generally $500,000 per fund for each account registration.

If you don't maintain the investment minimum, the shares may be converted back to Investor Class shares.

If you're in the Personal Services or the Enhanced Personal Services tiers, each ActivePlus Portfolios^® account is eligible for I Class with a balance of at least $185,000, regardless of individual fund balances.

In most cases, your shares will automatically be converted to I Class when eligible - no further action is necessary and you will be notified in advance.

Certain circumstances could prevent the automated conversion process from occurring:

• Account restrictions, such as an undeliverable address or an account freeze, will prevent all your accounts from converting to I Class shares; and
• Accounts held by clients outside of the United States, who must call us to convert shares.

Certain accounts, including T. Rowe Price Brokerage sweep accounts and small business retirement plans with more than one participant, are ineligible for I Class, regardless of account balance. However, clients who hold qualifying assets in a money market fund in a Brokerage sweep account can establish a separate I Class money market fund.  Please contact us at 1-800-341-1211 to learn more.

You may also contact us to request conversion from Investor Class to I Class for eligible accounts at any time by calling 1-800-779-4393. Clients outside of the United States can call 410-625-6500.

When eligible, converting from Investor Class to corresponding I Class shares of the same mutual fund is generally not a taxable event and is free of charge.

We will make reasonable efforts to notify you when one or more of your mutual fund accounts is eligible for I Class. Most accounts will be converted automatically on a quarterly basis. Accounts held by clients outside of the United States are notified once per calendar year and clients must contact us to process a conversion.

You may also contact us to request conversion from Investor Class to I Class for eligible accounts at any time by calling 1-800-779-4393. Clients outside of the United States can call 410-625-6500.

I Class shares have the same portfolio management team, have the same investment objectives, and the same portfolio holdings as their corresponding Investor Class shares.

If you would like to opt out of I Class conversion, please call us at 1-800-779-4393. This decision applies to future I Class conversion opportunities across your qualifying accounts. We will not notify you of future I Class eligibility. You may update this direction at any time.

If you own I Class shares of a fund and your account balance drops below the investment minimum, you may be at risk of losing access to I Class. We will make reasonable efforts to notify you of this.

If your balance remains below the investment minimum, we may convert your investments back to Investor Class shares.

Learn more about investment minimums and how you can qualify for I Class shares.

I Class shares have the same portfolio management team, have the same investment objectives, and the same portfolio holdings as their corresponding Investor Class shares.

The main difference between Investor Class and I Class shares is the expense ratios. I Class shares of our mutual funds generally have lower costs than Investor Class shares.

Because their expense ratios are different, the share prices of Investor Class and I Class shares are different. Therefore, the number of shares in your account will likely change after conversion from one share class to the other. The I Classes also have different ticker symbols than the Investor Classes. Generally, you maintain the same account number.

Learn more about I Class shares.

Certain T. Rowe Price mutual funds are generally closed to new investors and new accounts. Once you achieve the Select Services tier ($250,000 Summit Balance) or higher of the Summit Program, you gain preferred access to closed funds in your qualifying accounts.

Investment minimums and other information about closed funds are specified in each fund’s prospectus.

If your Summit Balance drops below the minimum for your current tier, you may be reassigned to a lower tier. Your Summit Balance reflects all qualifying accounts in your Summit household.

We will make reasonable efforts to notify you that you're at risk of being moved to a lower tier. Be sure to meet the minimum household balance to keep your Summit Program benefits.

Learn more about your Summit Balance and Summit Program tier.

If you haven't yet achieved the Select Services tier ($250,000 Summit Balance), you can still access T. Rowe Price closed funds with a single- or multi-fund purchase of at least $250,000. This purchase must be made by working directly with a T. Rowe Price associate; it cannot be done online.

You may also access T. Rowe Price closed funds via direct IRA rollover.

Contact us with any questions or to proceed with a qualifying purchase.

If you have a valid email address on file with us, we will email you notifications about your program status. Otherwise, we will mail them to you.

In cases when another individual can act on your behalf, such as custodian, guardian, or agent under a power of attorney, they also will receive notifications about your status in the Summit Program.

Log in to view my Summit tier.

Starting at the Select Services tier ($250,000 Summit Balance), you receive a complimentary Morningstar^® Premium membership. If you already have a Morningstar subscription through T. Rowe Price, you'll keep access if you maintain your eligibility. Log in to your profile to access this subscription.

At the Enhanced Personal Services tier ($1 million Summit Balance), you also receive a complimentary subscription to Kiplinger’s Personal Finance magazine. Log in to your profile to access this subscription.

The ongoing security and confidentiality of your accounts are of the utmost importance to T. Rowe Price. While we strive to help all Summit members understand their tier and benefits, we also limit the information we share among them.

T. Rowe Price will not share any information with any other members of your Summit household except:

• The Program tier your Summit household has achieved
• The names of the members of your Summit household
• The Summit Balance associated with the household (except for Enhanced Personal Services clients)

If you wish to keep your Summit household member names and/or total Summit household balance private, you will need to opt out of your household by contacting a T. Rowe Price representative at 1-800-225-5132.

Regardless of whether you opt out or not, all other information about your program membership and accounts remains confidential. It will not be provided to others who do not otherwise have authority to receive or view your confidential information or perform transactions for you.

For additional details about access to accounts and sharing of information, please see the Summit Program Terms and Conditions.