As you save for retirement, college, and other goals, you gain entry to more and more benefits to help you achieve better outcomes.
To be eligible, each person in a Summit household must directly own a qualifying investment. Qualifying account types include:
|Summit Program Benefits||General Services
$250,000 balance or more
$500,000 balance or more
|Enhanced Personal Services
$1 million balance or more
|$0 commission for online stock and exchange-traded fund (ETF) trading
|Waived mutual fund account service fees for clients who elect for paperless delivery of statements and confirmations
|Access to knowledgeable Financial Consultants and customer service representatives
|Digital access to T. Rowe Price Insights on retirement and financial planning
|Access to dedicated support from the life events team||✓||✓||✓||✓|
|Reduced Brokerage commissions and fees (see details on Brokerage fees)
|Preferred access to closed funds*
|Complimentary Morningstar Premium membership
|Preferred access to I Class shares (minimum $50K+ per fund)*
|Complimentary Kiplinger's Personal Finance magazine subscription
|Access to investing, retirement, college savings, and personal finance events featuring T. Rowe Price experts
We made it simple for you to move up to the next tier and maximize your benefits. Invest more, benefit more.
Eligibility for the Summit Program begins when you open and/or maintain a qualifying account with T. Rowe Price. The Program offers tiers with expanding benefits. You can qualify for more benefits individually or in combination with others in your Summit household. Your Summit balance automatically includes assets held by you and all members of your Summit household in qualifying accounts. That makes it easier for you to maximize balances for Program eligibility.
Summit Program Tiers
|Tier||Minimum Summit Balance Select Services|
|Enhanced Personal Services||$1,000,000|
The Summit Program is a feature of qualifying accounts. Your Summit balance automatically includes all types of investments held in qualifying accounts by you and members of your Summit household.
Qualifying account types include:
Roth and Traditional individual retirement accounts (IRAs)
Single-participant small business retirement plans (SARSEP, SEP-IRA, SIMPLE IRA)
Owner-only Individual 401(k)
T. Rowe Price College Savings Plan
Maryland College Investment Plan
The Summit Program enables clients to aggregate eligible account balances for the purpose of qualifying for Program tiers and benefits. This is accomplished through the creation of households. The Summit Program includes an automated household feature designed to combine Summit members who meet certain criteria and maintain households over time to the best of our ability. Clients can also contact us to request changes to their household. Once a Summit household is created, the assets within the qualifying accounts (and any authorized workplace retirement plan account balances) of all Summit household members count toward a combined Summit balance, which is used to assign each member of the Summit household to the same Program tier and determine eligibility of benefits for each.
The I Class is a lower-cost share class than our Investor Class shares. Fees for I Class shares are 20% lower,1 on average, than our Investor Class shares. Clients with $500,000 exclusively in I Class shares would save, on average, $650 in the first year alone compared with the same amount in Investor Class shares.
Clients assigned to the Personal Services tier ($500,000 Summit balance) or the Enhanced Personal Services tier ($1 million Summit balance) of the Summit Program have preferred access to I Class shares of T. Rowe Price mutual funds with a lower investment minimum of $50,000 per fund. The investment minimum must be satisfied per qualifying fund account.
What if I’m a T. Rowe Price ActivePlus Portfolios® client?
Clients assigned to the Personal Services tier ($500,000 Summit balance) or the Enhanced Personal Services tier ($1 million Summit balance) of the Summit Program are eligible for I Class shares for each ActivePlus Portfolios® account with a balance of $185,000 or more at the ActivePlus Portfolios® account level, regardless of individual fund balances.
Outside the Summit Program, the minimum investment amount for I Class is generally $500,000 per fund for each account registration.
If you do not maintain the investment minimum requirements for I Class shares, the shares may be converted back to Investor Class shares.
If you have at least one qualifying account that meets the rules for the Summit Program and you are a participant in certain types of participant-directed workplace retirement plans serviced by T. Rowe Price, such as 401(k) or 403(b) plans, you may also be eligible to authorize us to consider the vested portion of your workplace plan account balance as part of your Summit balance. To authorize us to consider these accounts in your Summit balance, log in and indicate your desire to link your retirement plan accounts. To complete the process, you will need to review and agree to the terms and conditions. You also have the option to withdraw this authorization at any time using the same link. Our systems are designed to periodically assess for additional household assets, and your Summit balance will be updated to reflect authorized workplace plan account balances as part of that process. Therefore, upon providing authorization, your workplace plan account balance may not be immediately reflected in your Summit balance and tier status.
Although these retirement plan accounts can contribute to your Summit balance for Program tier eligibility, they will not receive product-level benefits.