Verus Financial Partners, Inc. (Richmond)

Name: Verus Financial Partners, Inc.
Address: 9030 Stony Point Parkway, Richmond, VA, 23235
Telephone: 804-592-3465

Verus Financial Partners, Inc. is a large advisory firm based in Richmond. It manages $656.05 million of regulatory assets for 2,018 client accounts. It has been registered with the SEC as an adviser since 2012 and has operated in the jurisdictions of Florida, Maryland, Nebraska, and 5 other states.

Verus Financial Partners provides financial planning services and portfolio management for individuals and small businesses. It prepares financial plans for more than 499 clients. On top of advisory services, the firm doesn't engage in other business activities.

Verus Financial Partners: assets under management

The assets under management (AUM) of Verus Financial Partners, Inc. is $656.05 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 89% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $656.05 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $325.1 thousand each.

Verus Financial Partners has custody of $76.05 million in cash and securities for 297 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 57% of the total AUM. The second-largest asset type is exchange traded securities, which make up 36% of the firm’s portfolio. Investments in non-exchange traded securities form 4% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Verus Financial Partners, 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 David Alexander Kozlowski serves?

The firm provides services to individuals, charitable organizations, and high net worth individuals. The largest group of clients of David Alexander Kozlowski is high net worth individuals with 278 clients and $525.58 million of assets under management. Among the 6 most similar advisory firms, Verus Financial Partners has the 3rd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $656.05 million for 708 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.

Verus Financial Partners doesn't advise any private funds.

Careers at Verus Financial Partners, Inc.

The company employs 17 people that are either part- or full-time employees. 59 percent of the employees work as investment advisers or researchers. 10 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.

David Alexander Kozlowski has been acting as President since 1 Jan 2010. James Manny Shepherd joined the executive team most recently as the Sr. Vice President, Chairman.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Phyliss Louise Reynolds	Vice president	1 Jan 2006	Other	5485092
Edward L Hoppe	Sr. vice president	1 Jul 2006	Other	4865237
James Manny Shepherd	Vice president, chairman	1 Jan 2010	75% - 100%	1247510
David Alexander Kozlowski	President	1 Jan 2010	Other	2177800
Julie Anne Waitman	Sr. vice president, chief compliance officer	1 Jan 2010	Other	2408592
William James Lagos	Vice president	1 Jan 2011	Other	5107089
James Manny Shepherd	Sr. vice president, chairman	1 Jun 2015	75% - 100%	1247510
William James Lagos	Sr. vice president	1 Jun 2015	Other	5107089

Based in Richmond

The principal office where Verus Financial Partners, Inc. performs its advisory services is located at 9030 Stony Point Parkway, Richmond, VA 23235, which is also the mailing address of the firm. An additional office of the firm is in Marion, VA. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 804-592-3465 or by fax 804-592-3484. 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 verusfp.com.