Powell Financial, Inc. (Cornelius)

Name: Powell Financial, Inc.
Address: 17818 Statesville Rd, Cornelius, NC, 28031
Telephone: (704) 439-0027

Powell Financial, Inc. is a large advisory firm based in Cornelius. It manages $103.07 million of regulatory assets for 227 client accounts. It has been registered with the SEC as an adviser since 2008 and has operated in the jurisdictions of North Carolina and South Carolina.

Powell Financial 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.

Powell Financial: assets under management

The assets under management (AUM) of Powell Financial, Inc. is $103.07 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 212% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $103.07 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $454.05 thousand each.

Powell Financial has custody of $1.88 million in cash and securities for 3 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 79% of the total AUM. The second-largest asset type is exchange traded securities, which make up 19% of the firm’s portfolio. Investments in cash and cash equivalents form 3% of the total invested assets.

Fees & Commissions

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

The firm provides services to individuals, high net worth individuals, and corporations or other businesses. The largest group of clients of Powell Financial is high net worth individuals with 35 clients and $75.86 million of assets under management. Among the 7 most similar advisory firms, Powell Financial has the 3rd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $103.07 million for 72 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.

Powell Financial doesn't advise any private funds.

Careers at Powell Financial, Inc.

The company employs 3 people that are either part- or full-time employees. 67 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.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
David Lemal Powell	President / chief compliance officer	1 Oct 2007	75% - 100%	2510305

Based in Cornelius

The principal office where Powell Financial, Inc. performs its advisory services is located at 17818 Statesville Rd, Cornelius, NC 28031, 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) 439-0027. The normal business hours are 8am-5pm on Monday - Friday. You can find more information about the New York firm at powellwealth.com and its LinkedIn profile.