Waters, Parkerson & Co., LLC (New Orleans)

Name: Waters, Parkerson & Co., LLC
Address: 601 Poydras Street, New Orleans, LA, 70130 6013
Telephone: 504-581-2022

Waters, Parkerson & Co., LLC is a large advisory firm based in New Orleans. It manages $1.53 billion of regulatory assets for 1,675 client accounts. It has been registered with the SEC as an adviser since 2008 and has operated in the jurisdictions of Alabama, California, Colorado, and 9 other states.

Waters, Parkerson & Co. provides financial planning services and portfolio management for individuals and small businesses. It prepares financial plans for more than 250 clients. On top of advisory services, the firm doesn't engage in other business activities.

Waters, Parkerson & Co.: assets under management

The assets under management (AUM) of Waters, Parkerson & Co., LLC is $1.53 billion. The firm's AUM has grown by 53% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $1.43 billion in discretionary accounts and $100.82 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $902.5 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $1.13 million.

Investments

The firm invests in exchange traded securities the most. They account for 75% of the total AUM. The second-largest asset type is investment grade corporate bonds, which make up 12% of the firm’s portfolio. Investments in cash and cash equivalents form 7% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Waters, Parkerson & Co., LLC for their services and products based on a percentage of assets under management 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 George Griswold serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of George Griswold is high net worth individuals with 340 clients and $1.12 billion of assets under management. Among the 12 most similar advisory firms, Waters, Parkerson & Co. has the highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $1.53 billion for 785 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.

Waters, Parkerson & Co. doesn't advise any private funds.

Careers at Waters, Parkerson & Co., LLC

The company employs 11 people that are either part- or full-time employees. 45 percent of the employees work as investment advisers or researchers. 5 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.

George Griswold has been acting as President since 1 Jan 2000. Devin John Wakeman joined the executive team most recently as the Partner.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
David Taylor Pointer	Managing partner	1 Jan 2000	25% - 50%	1044827
Michael Burton Whealdon	Partner	1 Jan 2000	25% - 50%	1277324
William Edward Cruikshank	Comptroller	1 Jan 2000	Other	1778322
George Griswold	Chairman	1 Jan 2000	Other	230473
Julia Waters Burlingame	Operations manager	1 Jan 2000	Other	1819993
Stephen Joseph Casamento	Vice president and chief compliance officer	1 Jun 2000	Other	42472
Jonathan Baldwin Montgomery	Partner	1 Sep 2007	Other	4356767
Devin John Wakeman	Investment counselor	1 Sep 2007	Other	5435505
Julia Waters Burlingame	Chief compliance officer	1 Jan 2009	Other	1819993
Devin John Wakeman	Asst. vice president	1 Mar 2010	Other	5435505
Devin John Wakeman	Partner	1 Jan 2016	Other	5435505

Based in New Orleans

The principal office where Waters, Parkerson & Co., LLC performs its advisory services is located at 601 Poydras Street, New Orleans, LA 70130 6013, 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 504-581-2022 or by fax 504-525-9320. The normal business hours are 8:00 am - 4:30 pm on Monday - Friday. You can find more information about the New York firm at watersparkerson.com.