Sheets Smith Wealth Management (Winston Salem)

Name: Sheets Smith Wealth Management
Address: 120 Club Oaks Court, Winston Salem, NC, 27104 4680
Telephone: 336-765-2020

Sheets Smith Wealth Management is a large advisory firm based in Winston Salem. It manages $724.55 million of regulatory assets for 814 client accounts. It has been registered with the SEC as an adviser since 2008 and has operated in the jurisdictions of California, Florida, Georgia, and 6 other states.

Sheets Smith Wealth Management provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, and selection of other advisers. It prepares financial plans for more than 25 clients. On top of advisory services, the firm doesn't engage in other business activities.

Sheets Smith Wealth Management: assets under management

The assets under management (AUM) of Sheets Smith Wealth Management is $724.55 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 30% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $724.55 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $890.11 thousand each.

Sheets Smith Wealth Management has custody of $50.58 million in cash and securities for 58 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 61% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 16% of the firm’s portfolio. Investments in pooled investment vehicles form 8% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Sheets Smith Wealth Management for their services and products based on a percentage of assets under management and fixed fees. Flat-fee based compensation is the most transparent and the one you can safely predict in advance. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients John Richard Sheets serves?

The firm provides services to individuals, charitable organizations, other investment advisers, high net worth individuals, and pension and profit sharing plans. The largest group of clients of John Richard Sheets is high net worth individuals with 83 clients and $614.35 million of assets under management. Among the 5 most similar advisory firms, Sheets Smith Wealth Management has the highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $724.55 million for 379 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.

Sheets Smith Wealth Management doesn't advise any private funds.

Careers at Sheets Smith Wealth Management

The company employs 15 people that are either part- or full-time employees. 67 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.

John Richard Sheets has been acting as President since 1 Oct 1982. Paul Thomas Anthony joined the executive team most recently as the President.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
John Richard Sheets	President	1 Oct 1982	75% - 100%	4345695
David Beeler Gilbert	Executive vice president	1 Jun 1995	Other	1744210
Paul Thomas Anthony	Chief compliance officer	1 Mar 2005	Other	2672261
Trent Ryan Sheets	Wealth manager	1 May 2013	Other	5357026
Stephen Todd Sheets	Minority owner	1 Dec 2015	Other	4857849
Paul Thomas Anthony	President	1 Jan 2018	Other	2672261
Allison Hughes Hewett	Chief compliance officer	1 Jan 2018	Other	6921271

Indirect Owners

The SEC currently registers 2 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Sheets Smith Wealth Management	Affiliate of sheets smith wealth management, inc.	1 Dec 2015	25% - 50%	105710
Zolly Cornell Bowden	Affiliate of sheets smith wealth management, inc.	1 Dec 2015	50% - 75%	2027452

Based in Winston Salem

The principal office where Sheets Smith Wealth Management performs its advisory services is located at 120 Club Oaks Court, Winston Salem, NC 27104 4680, which is also the mailing address of the firm. An additional office of the firm is in Atlanta, GA. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 336-765-2020 or by fax 336-765-6756. The normal business hours are 8:30 - 5:00 on Monday - Friday. You can find more information about the New York firm at sheetssmith.com.