Carolinas Wealth Consulting LLC (Charlotte)

Name: Carolinas Wealth Consulting LLC
Address: 5605 Carnegie Blvd. Suite 400, Charlotte, NC, 28209
Telephone: 704-643-2455

Carolinas Wealth Consulting LLC is a large advisory firm based in Charlotte. It manages $1.49 billion of regulatory assets for 693 client accounts. It has been registered with the SEC as an adviser since 2019 and has operated in the jurisdictions of California, Florida, Georgia, and 10 other states.

Carolinas Wealth Consulting provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, and selection of other advisers. It prepares financial plans for more than 250 clients. On top of advisory services, the firm doesn't engage in other business activities.

Carolinas Wealth Consulting: assets under management

The assets under management (AUM) of Carolinas Wealth Consulting LLC is $1.49 billion. The firm's AUM has grown by 0% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $381.89 million in discretionary accounts and $1.11 billion in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $2.09 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $2.17 million.

Carolinas Wealth Consulting has custody of $152.88 million in cash and securities for 214 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 46% of the total AUM. The second-largest asset type is exchange traded securities, which make up 33% of the firm’s portfolio. Investments in state and local bonds form 14% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Carolinas Wealth Consulting 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 Carolinas Wealth Consulting serves?

The firm provides services to individuals, high net worth individuals, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Carolinas Wealth Consulting is high net worth individuals with 278 clients and $1.22 billion of assets under management. Among the 10 most similar advisory firms, Carolinas Wealth Consulting has the highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $1.45 billion for 730 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.

Carolinas Wealth Consulting doesn't advise any private funds.

Careers at Carolinas Wealth Consulting LLC

The company employs 25 people that are either part- or full-time employees. 72 percent of the employees work as investment advisers or researchers. 18 employees are registered as investment adviser representatives with the state securities authorities.

There are 2 people 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.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
George Harrell Edmiston	Ceo, president, managing member	1 May 2019	75% - 100%	1031212
Jeanne Kelsey Fritchley	Member, chief compliance officer, chief operating officer	1 May 2019	Other	2831489
Christopher Kevin Grogan	Member, secretary	1 May 2019	Other	3201211
Ncf Charitable Trust ("Nct")	Owner	1 May 2019	Other	20-4326440

Indirect Owners

The SEC currently registers 1 indirect owner.

Name	Entity	Date acquired	Ownership	Employer ID
Ncf Corporation	Sole trustee of nct	1 Jan 2019	Other	58-1493949

Based in Charlotte

The principal office where Carolinas Wealth Consulting LLC performs its advisory services is located at 5605 Carnegie Blvd. Suite 400, Charlotte, NC 28209, 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 704-643-2455 or by fax 704-643-2470. The normal business hours are 8:30am to 5:00pm on Monday - Friday. You can find more information about the New York firm at carolinasinvest.com.