Wills Financial Group, Inc. (Richmond)

Name: Wills Financial Group, Inc.
Address: 704 Libbie Avenue, Richmond, VA, 23226 2622
Telephone: 804-330-3100

Wills Financial Group, Inc. is a large advisory firm based in Richmond. It manages $206.4 million of regulatory assets for 584 client accounts. It has been registered with the SEC as an adviser since 2001 and has operated in the jurisdictions of New York, North Carolina, Pennsylvania, Texas, and Virginia.

Wills Financial Group provides financial planning services and portfolio management for individuals and small businesses. It prepares financial plans for more than 50 clients. On top of advisory services, the firm doesn't engage in other business activities.

Wills Financial Group: assets under management

The assets under management (AUM) of Wills Financial Group, Inc. is $206.4 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 372% since the beginning of its operation, and $231.97 thousand of the total AUM is attributable to clients outside of the United States.

The firm manages $206.4 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $353.43 thousand each.

Wills Financial Group has custody of $5.57 million in cash and securities for 14 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 66% 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 11% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Wills Financial Group, Inc. for their services and products based on a percentage of assets under management and hourly charges. 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 Janet Howard Wills serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of Janet Howard Wills is high net worth individuals with 60 clients and $149.44 million of assets under management. Among the 8 most similar advisory firms, Wills Financial Group has the 3rd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $204.15 million for 227 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 1% of the firm’s clients are foreign persons or businesses.

Wills Financial Group doesn't advise any private funds.

Careers at Wills Financial Group, Inc.

The company employs 7 people that are either part- or full-time employees. 71 percent of the employees work as investment advisers or researchers. 6 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 compensates employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Janet Howard Wills has been acting as President since 1 Jan 1999. Grace Rachel Choi joined the executive team most recently as the Chief Compliance Officer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Janet Howard Wills	President	1 Jan 1999	75% - 100%	1205716
Denise Smith Dance	Secretary-treasurer	1 Jan 2001	Other	4370739
Richard Blackwell Wills	Vice president & chief compliance officer	1 Mar 2001	Other	4370567
Mary Beth Nolan	Chief compliance officer	1 Jan 2016	Other	5469300
Grace Rachel Choi	Chief compliance officer	1 Feb 2018	Other	6635982

Based in Richmond

The principal office where Wills Financial Group, Inc. performs its advisory services is located at 704 Libbie Avenue, Richmond, VA 23226 2622 The mailing address of the firm is Po Box 18338, Richmond, VA 23226 8338. An additional office of the firm is in Newton Square, PA. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 804-330-3100 or by fax 804-330-3107. The normal business hours are 9am to 5pm on Monday - Friday. You can find more information about the New York firm at willsfg.com/.