Welch Hornsby, Inc. (Montgomery)

Name: Welch Hornsby, Inc.
Address: One Commerce Street, Suite 800, Montgomery, AL, 36104
Telephone: 334-272-1192

Welch Hornsby, Inc. is a large advisory firm based in Montgomery. It manages $1.82 billion of regulatory assets for 1,759 client accounts. It has been registered with the SEC as an adviser since 2013 and has operated in the jurisdictions of Alabama, Florida, Georgia, and 5 other states.

Welch Hornsby 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, selection of other advisers, and consulting services for individuals in transition. It prepares financial plans for more than 50 clients. On top of advisory services, the firm doesn't engage in other business activities.

Welch Hornsby: assets under management

The assets under management (AUM) of Welch Hornsby, Inc. is $1.82 billion, all of which is managed in discretionary accounts. The firm's AUM has grown by 23% since the beginning of its operation, and $610.87 thousand of the total AUM is attributable to clients outside of the United States.

The firm manages $1.82 billion in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $1.03 million each.

Welch Hornsby has custody of $412.62 million in cash and securities for 352 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 70% of the total AUM. The second-largest asset type is state and local bonds, which make up 9% of the firm’s portfolio. Investments in cash and cash equivalents form 6% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Welch Hornsby, Inc. 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 Welch Hornsby serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, pooled investment vehicles, corporations or other businesses, pension and profit sharing plans, and state or municipal government entities. The largest group of clients of Welch Hornsby is high net worth individuals with 252 clients and $896.64 million of assets under management. Among the 11 most similar advisory firms, Welch Hornsby has the 2nd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $1.82 billion for 465 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.

Welch Hornsby also advises several private funds. Namely, two venture capital funds. The minimum investment commitment required of non-related persons is $250,000 for each fund.

Careers at Welch Hornsby, Inc.

The company employs 27 people that are either part- or full-time employees. 52 percent of the employees work as investment advisers or researchers. 14 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 compensates employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Ginger Baker Glenn joined the executive team most recently as the Chief Compliance Officer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
James Wilkerson Underwood	Chief portfolio strategist	1 Jul 2006	Other	4554612
John Steven Hornsby	Chairman, director	1 Jan 2010	25% - 50%	1219490
Edward Virgil Jr. Welch	Chief executive officer/president, director	1 Jan 2012	25% - 50%	1290275
Ginger Baker Glenn	Chief compliance officer	1 Jan 2013	Other	6170398

Based in Montgomery

The principal office where Welch Hornsby, Inc. performs its advisory services is located at One Commerce Street, Suite 800, Montgomery, AL 36104 The mailing address of the firm is P.O. Box 4959, Montgomery, AL 36103. An additional office of the firm is in Birmingham, AL. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 334-272-1192 or by fax 334-244-9091. The normal business hours are 8:00 am - 5:00 pm on Monday - Friday. You can find more information about the New York firm at welchhornsby.com.