River Capital Advisors, Lc (Jacksonville)

Name: River Capital Advisors, Lc
Address: 5011 Gate Parkway, Jacksonville, FL, 32256
Telephone: 904-398-2075

River Capital Advisors, Lc is a large advisory firm based in Jacksonville. It manages $188.9 million of regulatory assets for 446 client accounts. It has been registered with the SEC as an adviser since 2005 and has operated in the jurisdictions of Florida and Texas.

River Capital Advisors, Lc provides portfolio management for individuals and small businesses 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.

River Capital Advisors, Lc: assets under management

The assets under management (AUM) of River Capital Advisors, Lc is $188.9 million. The firm's AUM has grown by 254% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $144.56 million in discretionary accounts and $44.35 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $344.18 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $1.71 million.

River Capital Advisors, Lc has custody of $34.81 million in cash and securities for 35 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 83% of the total AUM. The second-largest asset type is exchange traded securities, which make up 12% of the firm’s portfolio. Investments in cash and cash equivalents form 4% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay River Capital Advisors, Lc 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 River Capital Advisors, Lc serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, and corporations or other businesses. The largest group of clients of River Capital Advisors, Lc is high net worth individuals with 59 clients and $114.05 million of assets under management. Among the 9 most similar advisory firms, River Capital Advisors, Lc has the 5th highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $188.9 million for 174 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.

River Capital Advisors, Lc doesn't advise any private funds.

Careers at River Capital Advisors, Lc

The company employs 5 people that are either part- or full-time employees. 60 percent of the employees work as investment advisers or researchers. 3 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 compensates 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
Edward Paul Schmitzer	President, chief compliance officer	1 Feb 1998	Other	3009737
Llc Cpa/Investment Alliance	Owner	1 Feb 1998	25% - 50%	58-2374128
Llp Smoak Davis & Nixon	Owner	1 Feb 1998	50% - 75%	59-0602635
R. Lavon Burnam	Manager/member	1 Feb 1998	Other	4939850
Edward P Schmitzer	Member/manager	1 Feb 1998	Other	3009737
Jim L. Bowen	Member	1 Feb 1998	Other	4939875
Charles Bradford Jackson	Member/manager	1 Feb 1998	Other	2843067
Bernard Lanigan	Member/manager	1 Feb 1998	Other	2942282
Frank J. Mercer	Member	1 Feb 1998	Other	2855225
Robert Mark Milberg	Member	1 Feb 1998	Other	2925584
William Eugene Adamson	Member	1 Feb 1998	Other	1370
Mark Cooper Saussy	Member	1 Dec 2002	Other	4520380
David Mark Fletcher	Member	1 Dec 2002	Other	4645681
Dana Phelps Hutchinson	Member	1 Dec 2002	Other	4645604
Dana Phelps Raybon	Member	1 Dec 2002	Other	4645604

Indirect Owners

The SEC currently registers 8 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Bernard Nmn Lanigan	Chairman & cco	1 Jan 1972	50% - 75%	2942282
Bernard Lanigan	Chairman & cco	1 Jan 1972	50% - 75%	2942282
Calvin King Stephens	Partner	1 Feb 1998	Other	4939876
Robert Thomas Loverich	Partner	1 Feb 1998	Other	4939886
Jeffrey Lawrence Shelton	Partner	1 Feb 1998	Other	5651834
Inc. Southeast Asset Advisors	Sole member	1 Feb 1998	75% - 100%	58-1961109
Patricia Ann Neuendorf	Partner	1 Jan 2011	Other	6258206
John W. Giehrl	Partner	1 Nov 2013	Other	5239188

Based in Jacksonville

The principal office where River Capital Advisors, Lc performs its advisory services is located at 5011 Gate Parkway, Jacksonville, FL 32256, 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 904-398-2075 or by fax 904-399-8985. The normal business hours are 8:30 - 5:00 on Monday - Friday. You can find more information about the New York firm at rcawealth.com.