Novare Capital Management (Charlotte)

Name: Novare Capital Management
Address: 521 E. Morehead, Charlotte, NC, 28202
Telephone: 704-334-3698

Novare Capital Management is a large advisory firm based in Charlotte. It manages $979.01 million of regulatory assets for 1,293 client accounts. It has been registered with the SEC as an adviser since 2003 and has operated in the jurisdictions of California, Florida, Georgia, and 8 other states.

Novare Capital Management provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, pension consulting services, 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.

Novare Capital Management: assets under management

The assets under management (AUM) of Novare Capital Management is $979.01 million. The firm's AUM has grown by 3404% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $977.01 million in discretionary accounts and $2 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $758.55 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $400 thousand.

Novare Capital Management has custody of $440.86 million in cash and securities for 350 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 60% of the total AUM. The second-largest asset type is investment grade corporate bonds, which make up 21% of the firm’s portfolio. Investments in state and local bonds form 7% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Novare Capital Management 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 John Whitfield Wilks 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 John Whitfield Wilks is high net worth individuals with 244 clients and $840.14 million of assets under management. Among the 7 most similar advisory firms, Novare Capital Management has the highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $979.01 million for 502 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.

Novare Capital Management doesn't advise any private funds.

Careers at Novare Capital Management

The company employs 15 people that are either part- or full-time employees. 87 percent of the employees work as investment advisers or researchers. 13 employees are registered as investment adviser representatives with the state securities authorities.

There’s a single person 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.

John Whitfield Wilks has been acting as President since 1 Jan 2012. Christopher Todd Patton joined the executive team most recently as the Senior Vice President.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
William Girroir Baynard	Managing member/managing director	1 Dec 1999	Other	1922269
Don Ellsworth Olmstead	Managing member/managing director	1 Dec 1999	25% - 50%	1503195
The Baymen Group	Member/direct owner	1 Dec 1999	25% - 50%	56-1926154
Llc The Baymen Group	Member/direct owner	1 Dec 1999	25% - 50%	56-1926154
Mark Fitzgerald Bass	Managing director	1 Feb 2003	Other	1610314
John Whitfield Wilks	Member/director	1 Jan 2012	Other	5198708
Anne Jones Mcphail	Member/director	1 Jan 2012	Other	4332831
Linda Lathan Walden	Srvp/chief compliance officer	1 Mar 2015	Other	5788832
William Gurley Staton	Member/senior director	1 Sep 2017	Other	434097
Christopher Todd Patton	Senior vice president	1 Jan 2019	Other	1881523

Indirect Owners

The SEC currently registers 2 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
William Girroir Baynard (Jr)	Member	1 May 1995	50% - 75%	xxx-xx-xxxx
Jane Elizabeth Roper	Member	1 Feb 1999	25% - 50%	2539918

Based in Charlotte

The principal office where Novare Capital Management performs its advisory services is located at 521 E. Morehead, Charlotte, NC 28202, 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 704-334-3698 or by fax 704-334-3339. The normal business hours are 8:00 am - 5:00pm on Monday - Friday. You can find more information about the New York firm at novarecapital.com/ and its LinkedIn profile.