Canal Capital Management, LLC is a large advisory firm based in Richmond. It manages $389.37 million of regulatory assets for 1,203 client accounts. It has been registered with the SEC as an adviser since 2012 and has operated in the jurisdictions of Maryland, Texas, and Virginia.
Canal Capital Management provides financial planning services, portfolio management for individuals and small businesses, portfolio management for pooled investment vehicles, selection of other advisers, and general business consulting & tax services. It prepares financial plans for more than 100 clients. On top of advisory services, the firm doesn't engage in other business activities.
The assets under management (AUM) of Canal Capital Management, LLC is $389.37 million. The firm's AUM has grown by 236% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.
The advisory firm has several streams of revenue. Clients pay Canal Capital Management, LLC for their services and products based on a percentage of assets under management, hourly charges, 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.
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 Canal Capital Management is high net worth individuals with 137 clients and $297.48 million of assets under management. Among the 8 most similar advisory firms, Canal Capital Management has the 2nd highest percentage of high net worth individuals out of all clients.
The amount of regulatory assets under management is $389.37 million for 320 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.
Canal Capital Management also advises several private funds. Namely, three real estate funds. The minimum investment commitment required of non-related persons is $250,000 for each fund.
The company employs 8 people that are either part- or full-time employees. 63 percent of the employees work as investment advisers or researchers. 6 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.
The principal office where Canal Capital Management, LLC performs its advisory services is located at 9 South 5 Th Street, Richmond, VA 23219, 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 804-325-1450 or by fax 866-381-5362. The normal business hours are 8:00 a.m. - 5:00 p.m. on Monday - Friday. You can find more information about the New York firm at canalcapitalmanagement.com.