Matrix Wealth Advisors, Inc (Charlotte)

Name: Matrix Wealth Advisors, Inc
Address: 831 East Morehead Street, Charlotte, NC, 28202 2731
Telephone: 704-358-3322

Matrix Wealth Advisors, Inc is a large advisory firm based in Charlotte. It manages $278.64 million of regulatory assets for 136 client accounts. It has been registered with the SEC as an adviser since 2001 and has operated in the jurisdictions of North Carolina and South Carolina.

Matrix Wealth Advisors provides financial planning services, portfolio management for individuals and small businesses, portfolio management for pooled investment vehicles, portfolio management for businesses and institutional clients, pension consulting services, and selection of other advisers. It prepares financial plans for more than 50 clients. On top of advisory services, the firm doesn't engage in other business activities.

Matrix Wealth Advisors: assets under management

The assets under management (AUM) of Matrix Wealth Advisors, Inc is $278.64 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 519% since the beginning of its operation, and $1.36 million of the total AUM is attributable to clients outside of the United States.

The firm manages $278.64 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $2.05 million each.

Matrix Wealth Advisors has custody of $4.75 million in cash and securities for 55 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in non-exchange traded securities the most. They account for 60% of the total AUM. The second-largest asset type is state and local bonds, which make up 20% of the firm’s portfolio. Investments in pooled investment vehicles form 15% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Matrix Wealth Advisors, 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 Matrix Wealth Advisors serves?

The firm provides services to individuals, high net worth individuals, pooled investment vehicles, and corporations or other businesses. The largest group of clients of Matrix Wealth Advisors is high net worth individuals with 83 clients and $198.55 million of assets under management. Among the 11 most similar advisory firms, Matrix Wealth Advisors has the 5th highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $274.18 million for 142 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.

Matrix Wealth Advisors also advises several private funds. Namely, one other private fund. The minimum investment commitment required of non-related persons is $100,000 for each fund.

Careers at Matrix Wealth Advisors, Inc

The company employs 7 people that are either part- or full-time employees. 57 percent of the employees work as investment advisers or researchers. No 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 receive compensation from other entities for client referrals.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Giles K. Almond	President, chief compliance officer	1 Oct 1990	50% - 75%	4370290
Norman Fuller Manley	Shareholder	1 Jan 2001	Other	4010795
Lois Denise Altman	Shareholder	1 Jan 2001	Other	4372979
James Brantley Willis	Shareholder	1 Jan 2001	Other	4007046
Giles K. Almond	President, chief compliance officer	1 Sep 2005	75% - 100%	4370290
Anita L. Almond Revocable Trust	Owner	1 Aug 2013	25% - 50%	xxx-xx-xxxx
Ncf Charitable Trust	Owner	1 Dec 2017	Other	20-4326440

Indirect Owners

The SEC currently registers 2 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Anita L. Almond	Trustee	1 Aug 2013	25% - 50%	6980735
Ncf Corporation	Trustee	1 Dec 2017	25% - 50%	20-4281656

Based in Charlotte

The principal office where Matrix Wealth Advisors, Inc performs its advisory services is located at 831 East Morehead Street, Charlotte, NC 28202 2731, 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 704-358-3322 or by fax 704-358-3522. The normal business hours are 8:30 am - 5:30 pm on Monday - Friday. You can find more information about the New York firm at novantphysician.com.