Carolina Wealth Management, Inc. (Greenville)

Name: Carolina Wealth Management, Inc.
Address: 1706 A E Arlington Blvd, Greenville, NC, 27858
Telephone: 252-439-1344

Carolina Wealth Management, Inc. is a large advisory firm based in Greenville. It manages $248.47 million of regulatory assets for 955 client accounts. It has been registered with the SEC as an adviser since 2004 and has operated in the jurisdictions of Florida, North Carolina, South Carolina, and Virginia.

Carolina Wealth Management provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, pension consulting services, selection of other advisers, publication of newsletters, and educational seminars and workshops. It prepares financial plans for less than 10 clients. On top of advisory services, the firm doesn't engage in other business activities.

Carolina Wealth Management: assets under management

The assets under management (AUM) of Carolina Wealth Management, Inc. is $248.47 million. The firm's AUM has grown by 35% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $935.73 thousand in discretionary accounts and $247.54 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $233.93 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $260.29 thousand.

Investments

The firm invests in investment grade corporate bonds the most. They account for 50% of the total AUM. The second-largest asset type is state and local bonds, which make up 50% of the firm’s portfolio.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Carolina Wealth Management, Inc. for their services and products based on a percentage of assets under management, hourly charges, and fixed fees. Flat-fee based compensation is the most transparent and the one you can safely predict in advance. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Derek Sanderson Pszenny serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, and pension and profit sharing plans. The largest group of clients of Derek Sanderson Pszenny is individuals with 331 clients and $123.38 million of assets under management. Among the 9 most similar advisory firms, Carolina Wealth Management has the highest percentage of individuals out of all clients.

The amount of regulatory assets under management is $248.47 million for 389 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.

Carolina Wealth Management doesn't advise any private funds.

Careers at Carolina Wealth Management, Inc.

The company employs 5 people that are either part- or full-time employees. 80 percent of the employees work as investment advisers or researchers. 3 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.

Carolina Wealth Management, Inc. is owned by David W Silver. Derek Sanderson Pszenny has been acting as President since 1 Mar 2005. David Walter Silver joined the executive team most recently as the Owner, Chief Compliance Officer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
David Ronald Damm	Chief executive officer	1 Apr 2004	25% - 50%	3090486
Derek Sanderson Pszenny	President	1 Apr 2004	25% - 50%	2951968
David W Silver	Owner	1 Apr 2004	Other	4792621
Dennis R Berry	Owner	1 Apr 2004	Other	4792625
Kathryn Suzanne Kei	Chief compliance officer	1 Apr 2004	Other	4792628
David Walter Silver	Owner	1 Apr 2004	Other	4792621
Dennis Robert Berry	Owner	1 Apr 2004	Other	4792625
Kathryn Kei Burr	Chief compliance officer	1 Apr 2004	Other	4792628
Derek Sanderson Pszenny	President/chief compliance officer	1 Oct 2004	25% - 50%	2951968
Kathryn Kei Burr	Assitant compliance officer	1 Oct 2004	Other	4792628
Derek Sanderson Pszenny	President	1 Mar 2005	25% - 50%	2951968
David Walter Silver	Owner, chief compliance officer	1 Mar 2005	Other	4792621

Based in Greenville

The principal office where Carolina Wealth Management, Inc. performs its advisory services is located at 1706 A E Arlington Blvd, Greenville, NC 27858, which is also the mailing address of the firm. An additional office of the firm is in Pinehurst, NC. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 252-439-1344 or by fax 866-295-6986. The normal business hours are 9:00am - 5:00pm on Monday - Friday. You can find more information about the New York firm at mycarolinawealth.com.