Delegate Advisors, LLC (Chapel Hill)


Delegate Advisors, LLC is a large advisory firm based in Chapel Hill. It manages $794.59 million of regulatory assets for 594 client accounts. It has been registered with the SEC as an adviser since 2012 and has operated in the jurisdictions of California and North Carolina.

Delegate Advisors provides financial planning services, portfolio management for individuals and small businesses, portfolio management for pooled investment vehicles, and selection of other advisers. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Delegate Advisors: assets under management

The assets under management (AUM) of Delegate Advisors, LLC is $794.59 million. The firm's AUM has gone down by -36% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $147.4 million in discretionary accounts and $647.19 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $1.17 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $1.38 million.
Delegate Advisors has custody of $66.39 million in cash and securities for 14 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 44% of the total AUM. The second-largest asset type is pooled investment vehicles, which make up 25% of the firm’s portfolio. Investments in exchange traded securities form 13% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Delegate Advisors, LLC 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 Delegate Advisors serves?

The firm provides services to high net worth individuals, pooled investment vehicles, and corporations or other businesses. The largest group of clients of Delegate Advisors is high net worth individuals with 26 clients and $644.29 million of assets under management. Among the 11 most similar advisory firms, Delegate Advisors has the 2nd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $794.59 million for 28 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.

Delegate Advisors also advises several private funds. Namely, one hedge fund. The minimum investment commitment required of non-related persons is $1,000,000 for each fund.

Careers at Delegate Advisors, LLC

The company employs 10 people that are either part- or full-time employees. 60 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 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.

Direct owners and executive officers


Name Entity Date acquired Ownership Employer ID
Llc K Wealth Management Member, series d units 1 May 2011 Other 45-2104162
Dennis Michael Miner Member - marketing (series a, series b and common units) 1 May 2011 Other 1868629
Norman Francis Leblanc Member, chief operating officer and chief compliance officer (series b and common units) 1 May 2011 Other 1035907
Llc Mid Oaks Investments Member, series a units 1 May 2011 Other 36-3995640
Andrew Dimmitt Hart Member - advisory (series c units) 1 Dec 2011 Other 1585970
Robert Lee Borden Member, chief investment officer (series c units) 1 Dec 2011 Other 4733443
Max Carroll Chapman Member - investments (series a and common units) 1 Dec 2011 Other 4355544
Max Carrol Chapman Member - investments (series a and common units) 1 Dec 2011 Other 44747
Jo Ann Williams Chief financial officer and chief compliance officer 1 Jul 2012 Other 2556999
Raptor Holdco Llc Member, series d units 1 Mar 2013 Other 27-5237785
Pensco Trust Company Cust. Fbo Charles Bernard Mcatee Ira Member, series d units 1 Mar 2013 Other xxx-xx-xxxx
Pensco Trust Company Cust. Fbo Joseph M Fernandez Ira Member, series d units 1 Mar 2013 Other xxx-xx-xxxx
Paul Richard Perez Chief compliance officer 1 Dec 2013 Other 2424851
James Rollin Powers Chief compliance officer 1 May 2017 Other 6822195

Indirect Owners

The SEC currently registers 5 indirect owners.

Name Entity Date acquired Ownership Employer ID
David William Schoenberg Trustee, patricia's trust under the kocourek family trust dated december 31, 1994 (common units) 1 Dec 1994 75% - 100% xxx-xx-xxxx
Wayne Claude Kocourek Manager (common units) 1 Sep 1997 Other xxx-xx-xxxx
James Pallotta Owner 1 Mar 2013 75% - 100% 2059360
Joseph M Fernandez Owner 1 Mar 2013 75% - 100% 6440650
Charles Bernard Mcatee Owner 1 Apr 2013 75% - 100% 6440651

Based in Chapel Hill

The principal office where Delegate Advisors, LLC performs its advisory services is located at 1335 Environ Way, Chapel Hill, NC 27517 8834, which is also the mailing address of the firm. An additional office of the firm is in San Francisco, CA. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 919-932-8400 or by fax 919-932-8401. The normal business hours are 9 am - 5 pm on Monday - Friday. You can find more information about the New York firm at delegateadvisors.com/.