Westbourne Investment Advisors Inc. (Annapolis)

Name: Westbourne Investment Advisors Inc.
Address: 410 Severn Avenue, Annapolis, MD, 21403
Telephone: 301-656-9035

Westbourne Investment Advisors Inc. is a large advisory firm based in Annapolis. It manages $172.25 million of regulatory assets for 306 client accounts. It has been registered with the SEC as an adviser since 2007 and has operated in the jurisdictions of District of Columbia, Florida, Maryland, and 5 other states.

Westbourne Investment Advisors provides portfolio management for individuals and small businesses. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Westbourne Investment Advisors: assets under management

The assets under management (AUM) of Westbourne Investment Advisors Inc. is $172.25 million. The firm's AUM has grown by 153% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $159.26 million in discretionary accounts and $13 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $556.84 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $649.75 thousand.

Westbourne Investment Advisors has custody of $3.4 million in cash and securities for 2 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 82% of the total AUM. The second-largest asset type is investment grade corporate bonds, which make up 9% of the firm’s portfolio. Investments in cash and cash equivalents form 6% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Westbourne Investment Advisors Inc. for their services and products based on a percentage of assets under management 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 Scot Edward Labin serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of Scot Edward Labin is high net worth individuals with 33 clients and $101.62 million of assets under management. Among the 8 most similar advisory firms, Westbourne Investment Advisors has the 3rd lowest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $121.29 million for 94 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.

Westbourne Investment Advisors doesn't advise any private funds.

Careers at Westbourne Investment Advisors Inc.

The company employs 3 people that are either part- or full-time employees. 100 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.

Scot Edward Labin has been acting as President since 1 Dec 2018. Bruce Steven Kromminga joined the executive team most recently as the Chief Compliance Officer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Inc. Westbourne Investments	Majority owner	1 May 2007	50% - 75%	37499
Wilfred Lacy Goodwyn	Chief compliance officer	1 May 2007	Other	225538
David Hammond Cunningham	President, director, coo, and chief compliance officer	1 Jul 2007	75% - 100%	839378
Harold Lee Reem	Vice-president	1 Jul 2007	Other	5377366
Robert Eugene Long	Director	1 Jul 2007	Other	312307
William H. Speakman	Sec./treas.	1 Jul 2007	Other	5651232
Barbara Holloway Goodwyn	Director	1 Oct 2011	Other	6009400
Robert Eugene Long	Director	1 Nov 2011	Other	312307
Harold Lee Reem	Senior vice-president and secretary	1 Jul 2012	Other	5377366
David Hammond Cunningham	President, director, coo, and chief compliance officer	1 Jul 2012	Other	839378
David Blake Bath	Vice president	1 Jan 2015	Other	2315776
Scot Edward Labin	Vice president	1 Jan 2015	Other	2726188
Harold Lee Reem	Senior vice-president and secretary	1 Jan 2015	Other	5377366
Bruce Steven Kromminga	Vice president	1 Jan 2017	Other	2575804
Joseph Christopher Wilkinson	Vice president	1 Feb 2018	25% - 50%	5730945
Scot Edward Labin	President	1 Dec 2018	50% - 75%	2726188
Bruce Steven Kromminga	Chief compliance officer	1 Dec 2018	Other	2575804

Indirect Owners

The SEC currently registers 3 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Wilfred Lacy Goodwyn	Chairman and owner	1 Nov 2000	25% - 50%	225538
Westbourne Associates Inc.	Majority owner	1 May 2007	50% - 75%	54-1876296
Rolf Walter Rossner	President and owner	1 May 2007	25% - 50%	1027829

Based in Annapolis

The principal office where Westbourne Investment Advisors Inc. performs its advisory services is located at 410 Severn Avenue, Annapolis, MD 21403, 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 301-656-9035 or by fax 301-656-9037. The normal business hours are 9:00 am - 5:00 pm on Monday - Friday. You can find more information about the New York firm at westbourneinvadvisors.com/.