Signature Financial Management Inc (Norfolk)

Signature Financial Management provides financial planning services, portfolio management for individuals and small businesses, portfolio management for pooled investment vehicles, portfolio management for businesses and institutional clients, and selection of other advisers. It prepares financial plans for more than 100 clients. On top of advisory services, the firm doesn't engage in other business activities.

Signature Financial Management: assets under management

The assets under management (AUM) of Signature Financial Management Inc is $4.35 billion. The firm's AUM has grown by 445% since the beginning of its operation, and $859 thousand of the total AUM is attributable to clients outside of the United States.

The firm manages $4.18 billion in discretionary accounts and $162.96 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $3.69 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $3.33 million.

Signature Financial Management has custody of $2.73 billion in cash and securities for 165 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 48% of the total AUM. The second-largest asset type is pooled investment vehicles, which make up 18% of the firm’s portfolio. Investments in state and local bonds form 16% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Signature Financial Management Inc for their services and products based on a percentage of assets under management, fixed fees, 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 Anne Ballard Shumadine serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, pooled investment vehicles, and pension and profit sharing plans. The largest group of clients of Anne Ballard Shumadine is high net worth individuals with 144 clients and $2.65 billion of assets under management. Among the 10 most similar advisory firms, Signature Financial Management has the 3rd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $4.35 billion for 180 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.

Signature Financial Management also advises several private funds. Namely, two hedge funds, one other private fund, and twelve private equity funds. The minimum investment commitment required of non-related persons ranges from $0 to $1,000,000.

Careers at Signature Financial Management Inc

The company employs 48 people that are either part- or full-time employees. 42 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 compensates employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Anne Ballard Shumadine has been acting as President since 1 Jun 1994. David Joseph Jallits has served as the Chief Investment Officer since 1 Aug 2015. Brown Advisory Incorporated joined the executive team most recently as the Holding Company.

Direct owners and executive officers

Indirect Owners

The SEC currently registers 1 indirect owner.

Based in Norfolk

The principal office where Signature Financial Management Inc performs its advisory services is located at World Trade Center, Norfolk, VA 23510 1676, which is also the mailing address of the firm. An additional office of the firm is in Charlottesville, VA. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 757-625-7670 or by fax 888-295-7101. The normal business hours are 8:30 am - 5:00 pm on Monday - Friday. You can find more information about the New York firm at signatureus.com.

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