Charleston Financial Advisors, LLC (Charleston)


Charleston Financial Advisors, LLC is a large advisory firm based in Charleston. It manages $147.73 million of regulatory assets for 560 client accounts. It has been registered with the SEC as an adviser since 2006 and has operated in the jurisdictions of South Carolina and Texas.

Charleston Financial Advisors provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, and pension consulting services. It prepares financial plans for more than 100 clients. On top of advisory services, the firm doesn't engage in other business activities.

Charleston Financial Advisors: assets under management

The assets under management (AUM) of Charleston Financial Advisors, LLC is $147.73 million. The firm's AUM has grown by 397% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $144.2 million in discretionary accounts and $3.52 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $260.29 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $587.37 thousand.

Investments

The firm invests in investment and business development companies the most. They account for 93% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 5% 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 Charleston Financial Advisors, LLC 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 Charleston Financial Advisors 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 Charleston Financial Advisors is high net worth individuals with 42 clients and $90.74 million of assets under management. Among the 10 most similar advisory firms, Charleston Financial Advisors has the 5th highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $147.73 million for 199 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.

Charleston Financial Advisors doesn't advise any private funds.

Careers at Charleston Financial Advisors, LLC

The company employs 4 people that are either part- or full-time employees. 75 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 doesn’t compensate employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Direct owners and executive officers


Name Entity Date acquired Ownership Employer ID
Llc Charleston Financial Advisors Owner 1 Jan 2005 75% - 100% 137536
William Chandler Prewitt Chief compliance officer 1 Jan 2006 Other 1080362
Myles Burdell Brandt Principal 1 Jan 2018 50% - 75% 5637391
Diane Hall Blackwelder Principal 1 Jan 2018 50% - 75% 2246611

Based in Charleston

The principal office where Charleston Financial Advisors, LLC performs its advisory services is located at 4 North Atlantic Wharf, Suite 200, Charleston, SC 29401 2168, which is also the mailing address of the firm. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 843-722-3331 or by fax 843-408-4622. The normal business hours are 9:30 am to 5:30 pm on Monday - Friday. You can find more information about the New York firm at charlestonfinancial.net.