Parsec Financial Management Inc (Asheville)

Parsec Financial Management provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, and pension consulting services. It prepares financial plans for approximately 1,200 clients. On top of advisory services, the firm doesn't engage in other business activities.

Parsec Financial Management: assets under management

The assets under management (AUM) of Parsec Financial Management Inc is $2.44 billion. The firm's AUM has grown by 419% since the beginning of its operation, and $172.12 thousand of the total AUM is attributable to clients outside of the United States.

The firm manages $2.29 billion in discretionary accounts and $148.31 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $426.4 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $776.48 thousand.

Parsec Financial Management has custody of $246.67 million in cash and securities for 395 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 62% of the total AUM. The second-largest asset type is non-exchange traded securities, which make up 13% of the firm’s portfolio. Investments in investment grade corporate bonds form 9% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Parsec Financial Management 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 William Barton Boyer serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of William Barton Boyer is high net worth individuals with 691 clients and $1.8 billion of assets under management. Among the 11 most similar advisory firms, Parsec Financial Management has the highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $2.44 billion for 1,664 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 1% of the firm’s clients are foreign persons or businesses.

Parsec Financial Management doesn't advise any private funds.

Careers at Parsec Financial Management Inc

The company employs 60 people that are either part- or full-time employees. 48 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 3 people 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.

William Barton Boyer has been acting as President since 1 Aug 2004. Jennifer Vogel Boyer joined the executive team most recently as the Spouse Of Travis L. Boyer.

Direct owners and executive officers

Based in Asheville

The principal office where Parsec Financial Management Inc performs its advisory services is located at 6 Wall St, Asheville, NC 28801 The mailing address of the firm is P.O. Box 2324, Asheville, NC 28802. An additional office of the firm is in Tryon, NC. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 828-255-0271 or by fax 828-255-8951. The normal business hours are 8:30 a.m. to 5:00 p.m. on Monday - Friday. You can find more information about the New York firm at parsecfinancial.com.

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