Riggs Capital Management, LLC (Provo)

Name: Riggs Capital Management, LLC
Address: 5132 N. 300 W. #260, Provo, UT, 84604
Telephone: 801-221-7923

Riggs Capital Management, LLC is a large advisory firm based in Provo. It manages $208.48 million of regulatory assets for 357 client accounts. It has been registered with the SEC as an adviser since 2005 and has operated in the jurisdictions of California, Kentucky, Michigan, and 5 other states.

Riggs Capital Management provides financial planning services and 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.

Riggs Capital Management: assets under management

The assets under management (AUM) of Riggs Capital Management, LLC is $208.48 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 619% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $208.48 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $583.99 thousand each.

Investments

The firm invests in investment and business development companies the most. They account for 46% of the total AUM. The second-largest asset type is pooled investment vehicles, which make up 28% of the firm’s portfolio. Investments in cash and cash equivalents form 13% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Riggs Capital Management, LLC for their services and products based on a percentage of assets under management, hourly charges, fixed fees, and commissions. Commissions are paid and earned by the adviser when a trade or a sales of an investment is made. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Riggs Capital Management serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of Riggs Capital Management is high net worth individuals with 55 clients and $111.22 million of assets under management. Among the 9 most similar advisory firms, Riggs Capital Management has the 4th highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $201.96 million for 354 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.

Riggs Capital Management doesn't advise any private funds.

Careers at Riggs Capital Management, LLC

The company employs 8 people that are either part- or full-time employees. 88 percent of the employees work as investment advisers or researchers. 8 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 receive compensation from other entities for client referrals.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Jay Anthony Riggs	Managing member	1 Mar 2002	Other	2394147
Craig Lewis Riggs	Managing member	1 Jan 2003	Other	4033340
Joseph Wayne Riggs	Managing member	1 Jan 2003	Other	2491535
Cameron Wesley Foster	Managing member	1 Mar 2005	Other	2973525
Alma Edwards Faerber	Managing member	1 Mar 2005	Other	3125557
Inc. Alpha Capital Advisors	Owner	1 May 2005	50% - 75%	43-2072511
Inc. Vertex Capital	Owner	1 May 2005	Other	84-3805170
Inc. Nwq Advisors	Owner	1 May 2005	Other	57-1220875
Inc. Fosteca	Owner	1 May 2005	Other	34-2038392
Inc. Focus Investment Management	Owner	1 May 2005	Other	75-3180783
Krey Ronald Thompson	Chief compliance officer	1 Aug 2013	Other	3156984

Indirect Owners

The SEC currently registers 5 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Jay Anthony Riggs	Owner	1 May 2005	75% - 100%	2394147
Craig Lewis Riggs	Owner	1 May 2005	75% - 100%	4033340
Alma Edwards Faerber	Owner	1 May 2005	75% - 100%	3125557
Cameron Wesley Foster	Owner	1 May 2005	75% - 100%	2973525
Joseph Wayne Riggs	Owner	1 May 2005	75% - 100%	2491535

Based in Provo

The principal office where Riggs Capital Management, LLC performs its advisory services is located at 5132 N. 300 W. #260, Provo, UT 84604, 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 801-221-7923 or by fax 801-221-7944. The normal business hours are 8:00 am-5:00 pm on Monday - Friday. You can find more information about the New York firm at rcminvestments.com.