Warren Averett Asset Management, LLC (Birmingham)

Name: Warren Averett Asset Management, LLC
Address: 2500 Acton Road, Birmingham, AL, 35243
Telephone: 205-979-4100

Warren Averett Asset Management, LLC is a large advisory firm based in Birmingham. It manages $2.55 billion of regulatory assets for 2,982 client accounts. It has been registered with the SEC as an adviser since 2012 and has operated in the jurisdictions of Alabama, California, Florida, and 6 other states.

Warren Averett Asset Management provides financial planning services, portfolio management for individuals and small businesses, portfolio management for pooled investment vehicles, portfolio management for businesses and institutional clients, pension consulting services, and selection of other advisers. It prepares financial plans for approximately 1,000 clients. On top of advisory services, the firm doesn't engage in other business activities.

Warren Averett Asset Management: assets under management

The assets under management (AUM) of Warren Averett Asset Management, LLC is $2.55 billion. The firm's AUM has grown by 195% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $2.5 billion in discretionary accounts and $53.15 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $842.32 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $2.8 million.

Warren Averett Asset Management has custody of $932.35 million in cash and securities for 259 clients in total and its related person acts as a qualified custodian.

Investments

The firm invests in investment and business development companies the most. They account for 86% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 8% of the firm’s portfolio. Investments in exchange traded securities form 2% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Warren Averett Asset Management, LLC for their services and products based on a percentage of assets under management, hourly charges, and fixed fees. Compensation based on assets under management promotes a long-term relationship between a client and the adviser and helps align mutual interests. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Joshua Layne Reidinger serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, pooled investment vehicles, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Joshua Layne Reidinger is high net worth individuals with 827 clients and $1.45 billion of assets under management. Among the 8 most similar advisory firms, Warren Averett Asset Management has the 4th highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $2.55 billion for 1,194 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. None of the firm’s clients are foreign persons or businesses.

Warren Averett Asset Management also advises several private funds. Namely, two hedge funds and one real estate fund. The minimum investment commitment required of non-related persons ranges from $100,000 to $200,000.

Careers at Warren Averett Asset Management, LLC

The company employs 50 people that are either part- or full-time employees. 46 percent of the employees work as investment advisers or researchers. 25 employees are registered as investment adviser representatives with the state securities authorities.

There isn’t anyone with the role of looking for and bringing in new clients on behalf of the firm. The firm compensates employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Joshua Layne Reidinger has been acting as President since 1 Sep 2012. Joshua Wyatt Lancaster joined the executive team most recently as the Member.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
James Aiken Warren	President	1 Jul 1999	Other	3265775
Steven Clay Causey	Vice president	1 Jul 1999	Other	4003351
Justin Thomas Russell	Chief compliance officer	1 Feb 2007	Other	4720377
Joshua Layne Reidinger	Chief operating officer	1 Nov 2007	Other	4228311
James Samuel Fitch	Vice president	1 Jul 2008	Other	2108001
Llc Warren Averett Companies	Managing member	1 Jan 2012	75% - 100%	45-4084397
Melanie Luther Nichols	Vice president	1 Jan 2012	Other	2276771
Irby Jones Thompson	Vice president	1 Jan 2012	Other	1214847
Larry Kelly Hicks	Vice president	1 Jan 2012	Other	3152135
James Williams Cunningham	Secretary / treasurer	1 Jan 2012	Other	4005501
Joshua Layne Reidinger	President	1 Sep 2012	Other	4228311
Keith Michael Rogers	Vice president	1 Mar 2013	Other	4987615
Steven Clay Causey	Secretary / treasurer	1 Nov 2014	Other	4003351
Joshua Wyatt Lancaster	Member	1 Apr 2017	Other	2424549
Heath Ryan Echols	Member	1 Apr 2017	Other	5082794
John Brown Cox	Member / chief investment officer	1 Apr 2017	Other	4597091

Based in Birmingham

The principal office where Warren Averett Asset Management, LLC performs its advisory services is located at 2500 Acton Road, Birmingham, AL 35243, which is also the mailing address of the firm. An additional office of the firm is in Atlanta, GA. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 205-979-4100 or by fax 205-979-6313. The normal business hours are 8:00 am to 5:00 pm on Monday - Friday. You can find more information about the New York firm at wakmwealth.com.