South State Advisory, Inc. (Columbia)

Name: South State Advisory, Inc.
Address: 520 Gervais St, Columbia, SC, 29201
Telephone: 803-231-3492

South State Advisory, Inc. is a large advisory firm based in Columbia. It manages $418.64 million of regulatory assets for 150 client accounts. It has been registered with the SEC as an adviser since 2017 and has operated in the jurisdictions of Alabama, Florida, Georgia, and 7 other states.

South State Advisory provides portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, and pension consulting services. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

South State Advisory: assets under management

The assets under management (AUM) of South State Advisory, Inc. is $418.64 million. The firm's AUM has gone down by -40% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $31.91 million in discretionary accounts and $386.73 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $403.97 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $5.45 million.

Investments

The firm invests in investment and business development companies the most. They account for 94% of the total AUM. The second-largest asset type is pooled investment vehicles, which make up 2% of the firm’s portfolio. Investments in other assets form 2% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay South State Advisory, Inc. 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 Edward John Jacques serves?

The firm provides services to individuals, high net worth individuals, and pension and profit sharing plans. The largest group of clients of Edward John Jacques is pension and profit sharing plans with 70 clients and $391.88 million of assets under management. Among the 10 most similar advisory firms, South State Advisory has the highest percentage of pension and profit sharing plans out of all clients.

The amount of regulatory assets under management is $416.04 million for 147 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.

South State Advisory doesn't advise any private funds.

Careers at South State Advisory, Inc.

The company employs 22 people that are either part- or full-time employees. 45 percent of the employees work as investment advisers or researchers. 11 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.

Edward John Jacques has been acting as President since 1 Dec 2014. Brian Alan Barker joined the executive team most recently as the Director.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
South State Bank	Direct owner	1 Jul 2013	75% - 100%	57-0219408
John Noble Golding	Director	1 Oct 2013	Other	6319024
Raymond Marcus Hrin	Chief compliance officer	1 Dec 2013	Other	2784349
Edward John Jacques	Director	1 Dec 2014	Other	6423988
Gregory Allen Lapointe	Director	1 Dec 2014	Other	6435187
Brian Alan Barker	Director	1 Dec 2017	Other	4263994
Lora Lee Jex	Director	1 Dec 2017	Other	6008335
Kelly Gardner	Director	1 Dec 2017	Other	6932539
Keith Shepherd Rainwater	Director	1 Dec 2017	Other	6228884

Indirect Owners

The SEC currently registers 1 indirect owner.

Name	Entity	Date acquired	Ownership	Employer ID
South State Corporation	Shareholder	1 Feb 1985	75% - 100%	57-0799315

Based in Columbia

The principal office where South State Advisory, Inc. performs its advisory services is located at 520 Gervais St, Columbia, SC 29201, which is also the mailing address of the firm. An additional office of the firm is in Savannah, GA. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 803-231-3492 or by fax 803-540-3944. The normal business hours are 9:00 am to 5:00 pm on Monday - Friday. You can find more information about the New York firm at southstatebank.com/wealth-management/asset-management-group/.