Pope Asset Management, LLC (Memphis)

Name: Pope Asset Management, LLC
Address: 5100 Poplar Avenue, Memphis, TN, 38137
Telephone: 901-763-4001

Pope Asset Management, LLC is a large advisory firm based in Memphis. It manages $285.72 million of regulatory assets for 91 client accounts. It has been registered with the SEC as an adviser since 2001 and has operated in the jurisdictions of Georgia, Mississippi, and Tennessee.

Pope Asset Management provides portfolio management for individuals and small businesses and portfolio management for businesses and institutional clients. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Pope Asset Management: assets under management

The assets under management (AUM) of Pope Asset Management, LLC is $285.72 million. The firm's AUM has gone down by -5% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $166.05 million in discretionary accounts and $119.67 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $1.91 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $29.92 million.

Pope Asset Management has custody of $119.67 million in cash and securities for 139 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 53% of the total AUM. The second-largest asset type is pooled investment vehicles, which make up 32% of the firm’s portfolio. Investments in cash and cash equivalents form 9% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Pope Asset Management, LLC for their services and products based on a percentage of assets under management and performance-based fees. The adviser charges an additional fee when a set benchmark is outperformed. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Pope Asset Management serves?

The firm provides services to charitable organizations, high net worth individuals, and pooled investment vehicles. The largest group of clients of Pope Asset Management is high net worth individuals with 84 clients and $131.82 million of assets under management. Among the 9 most similar advisory firms, Pope Asset Management has the 4th highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $285.72 million for 91 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.

Pope Asset Management also advises several private funds. Namely, two hedge funds and two private equity funds. The minimum investment commitment required of non-related persons ranges from $10,000 to $250,000.

Careers at Pope Asset Management, LLC

The company employs 5 people that are either part- or full-time employees. 100 percent of the employees work as investment advisers or researchers. No 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.

Casey Scott Mccandless joined the executive team most recently as the Chief Compliance Officer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
William Paul Wells	Chief executive officer	1 Aug 2001	Other	1453408
Wells Investments Lp	Owner	1 Aug 2001	75% - 100%	62-1798218
Stephen Lloyd Parr	Chief operating officer	1 Aug 2001	Other	847272
Jennifer Lynn Statler	Compliance officer	1 Aug 2001	Other	3013270
Stephen Lloyd Parr	Vice president	1 Sep 2001	Other	847272
Debra A Mcadoo	Chief operating officer	1 Oct 2001	Other	1968501
Casey Scott Mccandless	Portfolio manager	1 Oct 2003	Other	4755932
Alison Guy Hill	Corporate secretary	1 Jan 2004	Other	4354977
R Trent Curry	Portfolio manager	1 Oct 2005	Other	5059670
Ashley Grace Austin	Chief compliance officer	1 Oct 2007	Other	5463724
Casey Scott Mccandless	Chief compliance officer	1 Jul 2008	Other	4755932

Based in Memphis

The principal office where Pope Asset Management, LLC performs its advisory services is located at 5100 Poplar Avenue, Memphis, TN 38137, 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 901-763-4001 or by fax 901-763-4229. The normal business hours are 8:00 am to 5:00 pm cst on Monday - Friday. You can find more information about the New York firm at popeasset.com.