Commerce Advisors, LLC (Memphis)

Name: Commerce Advisors, LLC
Address: 5050 Poplar Avenue, Memphis, TN, 38157
Telephone: 901-260-6050

Commerce Advisors, LLC is a large advisory firm based in Memphis. It manages $146.3 million of regulatory assets for 101 client accounts. It has been registered with the SEC as an adviser since 2009 and has operated in the jurisdictions of Mississippi, Tennessee, and Texas.

Commerce Advisors provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, pension consulting services, and selection of other advisers. It prepares financial plans for more than 25 clients. On top of advisory services, the firm doesn't engage in other business activities.

Commerce Advisors: assets under management

The assets under management (AUM) of Commerce Advisors, LLC is $146.3 million. The firm's AUM has gone down by -27% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $142.74 million in discretionary accounts and $3.56 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $1.47 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $888.88 thousand.

Commerce Advisors has custody of $14.33 million in cash and securities for 31 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in investment and business development companies the most. They account for 30% of the total AUM. The second-largest asset type is non-exchange traded securities, which make up 25% of the firm’s portfolio. Investments in exchange traded securities form 25% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Commerce Advisors, 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 Joseph Vincent Robinson serves?

The firm provides services to individuals, high net worth individuals, and pension and profit sharing plans. The largest group of clients of Joseph Vincent Robinson is high net worth individuals with 39 clients and $128.4 million of assets under management. Among the 12 most similar advisory firms, Commerce Advisors has the highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $145.07 million for 107 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.

Commerce Advisors doesn't advise any private funds.

Careers at Commerce Advisors, LLC

The company employs 4 people that are either part- or full-time employees. 50 percent of the employees work as investment advisers or researchers. 2 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.

Joseph Vincent Robinson has been acting as President since 1 Aug 2009. Kurt Austin Voldeng joined the executive team most recently as the Commerce Asset Management/Coo , Member Executive Managment Committee.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Commerce Holdings Llc	Member	1 Aug 2009	75% - 100%	27-0792853
Joseph Vincent Robinson	President	1 Aug 2009	Other	1973345
Edward Rudolph Balsmann	Chief compliance officer	1 Aug 2009	Other	2601042
Miles Slocum Fortas	Cfo	1 Aug 2009	Other	4348768
Miles Slocum Fortas	Chief compliance officer	1 Jul 2010	Other	4348768
Joseph Vincent Robinson	Ceo commerce holdings, llc	1 Sep 2010	Other	1973345
William David Woodmansee	President, member executive management committee	1 Nov 2010	Other	1857491
Joseph Vincent Robinson	President	1 Nov 2010	Other	1973345
Joseph Vincent Robinson	Ceo commerce holdings, llc /cco of ria's, member executive management committee	1 Jul 2012	Other	1973345
Kurt Austin Voldeng	Commerce asset management/coo , member executive managment committee	1 Jul 2012	Other	2099561
Sean Herron Mccoy	Intersec research llc/ president member executive management committee	1 Jul 2012	Other	6107353
Ramon Marus	Independent member of commerce holdings llc executive management committee	1 Jul 2012	Other	6107346

Indirect Owners

The SEC currently registers 12 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Christopher W Canale	Owner	1 Feb 2000	25% - 50%	2498212
Lp Jdc Investments	Owner	1 Dec 2008	25% - 50%	26-2482568
John D Canale Iii	Owner	1 Dec 2008	75% - 100%	2228083
Inc. Canale Brothers	General partner	1 Dec 2008	Other	62-1808246
Christopher W Canale	Owner	1 Dec 2008	50% - 75%	2498212
Llc Csg Holdings	Member-common	1 Aug 2009	75% - 100%	26-3965980
D. Canale & Co.	Preferred and common	1 Aug 2009	75% - 100%	62-0148650
Christopher W Canale	Limited partner	1 Dec 2010	75% - 100%	2498212
Lp Cwc Family	Owner	1 Dec 2010	25% - 50%	27-4335738
Inc. Canale Brothers	General partner	1 Dec 2010	Other	62-1808246
Bf Leasing Llc	Member of commerce holdings llc	1 Jul 2012	25% - 50%	02-0658038
Thomas J Byrce	Managing member of bf leasing	1 Jul 2012	50% - 75%	6107379

Based in Memphis

The principal office where Commerce Advisors, LLC performs its advisory services is located at 5050 Poplar Avenue, Memphis, TN 38157, 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 901-260-6050 or by fax 901-260-6051. The normal business hours are 8:00 a.m.-5:00 p.m. on Monday - Friday. You can find more information about the New York firm at camhedge.com.