James River Asset Management, LLC (Midlothian)

Name: James River Asset Management, LLC
Address: 15521 Midlothian Tnpk., Midlothian, VA, 23113
Telephone: 804-323-0517

James River Asset Management, LLC is a large advisory firm based in Midlothian. It manages $145.62 million of regulatory assets for 374 client accounts. It has been registered with the SEC as an adviser since 2004 and has operated in the jurisdiction of Virginia.

James River Asset Management provides financial planning services, portfolio management for individuals and small businesses, 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.

James River Asset Management: assets under management

The assets under management (AUM) of James River Asset Management, LLC is $145.62 million. The firm's AUM has grown by 385% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $122.75 million in discretionary accounts and $22.88 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $338.15 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $2.08 million.

James River Asset Management has custody of $53.92 million in cash and securities for 206 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 58% of the total AUM. The second-largest asset type is investment and business development companies, which make up 28% 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 James River Asset Management, LLC 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 Robert Lloyd Fitch serves?

The firm provides services to individuals, high net worth individuals, and pension and profit sharing plans. The largest group of clients of Robert Lloyd Fitch is individuals with 292 clients and $67.79 million of assets under management. Among the 9 most similar advisory firms, James River Asset Management has the 5th highest percentage of individuals out of all clients.

The amount of regulatory assets under management is $144.97 million for 334 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.

James River Asset Management doesn't advise any private funds.

Careers at James River Asset Management, LLC

The company employs 6 people that are either part- or full-time employees. 67 percent of the employees work as investment advisers or researchers. 4 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.

Robert Lloyd Fitch has been acting as President since 1 Feb 2012. Charles Edward Clement joined the executive team most recently as the President And Chief Operating Officer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Alvin Hudson Miller	Vice president/treasurer/chief compliance officer	1 Oct 1995	50% - 75%	1074249
Robert Lloyd Fitch	President	1 Oct 1995	50% - 75%	208913
Robert Lloyd Fitch	Chairman	1 Feb 2012	Other	208913
Brian Thomas Hennaman	President	1 Feb 2012	50% - 75%	3084766
Charles Edward Clement	President and chief operating officer	1 Jul 2019	25% - 50%	6165425

Based in Midlothian

The principal office where James River Asset Management, LLC performs its advisory services is located at 15521 Midlothian Tnpk., Midlothian, VA 23113, 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 804-323-0517 or by fax 888-307-5162. The normal business hours are 8:30 am to 5:00 pm on Monday - Friday. You can find more information about the New York firm at jamesriverwealth.com.