Southeast Asset Advisors Inc (Thomasville)


Southeast Asset Advisors Inc is a large advisory firm based in Thomasville. It manages $2.04 billion of regulatory assets for 960 client accounts. It has been registered with the SEC as an adviser since 2001 and has operated in the jurisdictions of Alabama, Florida, Georgia, and 3 other states.

Southeast Asset Advisors provides financial planning services, portfolio management for individuals and small businesses, portfolio management for pooled investment vehicles, portfolio management for businesses and institutional clients, pension consulting services, 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.

Southeast Asset Advisors: assets under management

The assets under management (AUM) of Southeast Asset Advisors Inc is $2.04 billion. The firm's AUM has grown by 955% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $1.03 billion in discretionary accounts and $1.01 billion in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $1.25 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $7.21 million.
Southeast Asset Advisors has custody of $164.12 million in cash and securities for 30 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 40% of the total AUM. The second-largest asset type is investment and business development companies, which make up 28% of the firm’s portfolio. Investments in pooled investment vehicles form 14% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Southeast Asset Advisors Inc 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.

What kind of clients Frank John Mercer serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, pooled investment vehicles, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Frank John Mercer is high net worth individuals with 135 clients and $1.16 billion of assets under management. Among the 12 most similar advisory firms, Southeast Asset Advisors has the highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $1.99 billion for 246 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.

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

Careers at Southeast Asset Advisors Inc

The company employs 13 people that are either part- or full-time employees. 62 percent of the employees work as investment advisers or researchers. 8 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.

Frank John Mercer has been acting as President since 1 Dec 1991. Inc. Seaa Holdings joined the executive team most recently as the Managing Member.

Direct owners and executive officers


Name Entity Date acquired Ownership Employer ID
Bernard Lanigan Chairman & ceo 1 Jan 1972 50% - 75% 2942282
Bernard Nmn Lanigan Chairman & ceo 1 Jan 1972 50% - 75% 2942282
Robert Milberg Secretary 1 Sep 1976 Other 2925584
Robert Mark Milberg Secretary 1 Sep 1976 Other 2925584
Frank Mercer Director 1 Sep 1977 Other 2855225
Frank J. Mercer Director 1 Sep 1977 Other 2855225
Frank John Mercer Director 1 Sep 1977 Other 2855225
Charles Bradford Jackson President 1 Aug 1988 Other 2843067
Peter J. Wolek Shareholder 1 Jun 1989 Other 4361740
Bernard Nmn Lanigan Chairman & ceo 1 Dec 1991 50% - 75% 2942282
Charles Bradford Jackson President & chief compliance officer 1 Dec 1991 Other 2843067
Frank John Mercer Director 1 Dec 1991 Other 2855225
Mark Cooper Saussy Vice president 1 Dec 2001 Other 4520380
David Mark Fletcher Director 1 Dec 2002 Other 4645681
Dana Phelps Hutchinson Director 1 Dec 2002 Other 4645604
Dana Phelps Raybon Director 1 Dec 2002 Other 4645604
Mark Cooper Saussy Chief operating officer 1 Mar 2012 Other 4520380
Robert Mark Milberg Director 1 Jan 2015 Other 2925584
Thomas Mikell Leland Managing director 1 Oct 2015 Other 2305002
Inc. Seaa Holdings Managing member 1 Sep 2019 75% - 100% 84-2937985

Indirect Owners

The SEC currently registers 11 indirect owners.

Name Entity Date acquired Ownership Employer ID
Inc. Southeast Asset Advisors Member 1 May 2004 50% - 75% 58-1961109
Llc Wahyam Capital Member 1 May 2004 Other 58-2328653
Llc Williams & Parker Member 1 May 2004 Other 58-1349765
Llc Frederick Heljay Co. Member 1 May 2004 Other 58-2041031
Frederick E. Cooper Jr. Irrevocable Funded Trust Member 1 Jan 2013 Other 58-6280024
Johnson J. Cooper Irrevocable Funded Trust Member 1 Jan 2013 Other 58-6280023
Bernard Nmn Lanigan Shareholder 1 Sep 2019 25% - 50% 2942282
Frank John Mercer Shareholder 1 Sep 2019 Other 2855225
Mark Cooper Saussy Shareholder 1 Sep 2019 Other 4520380
David Mark Fletcher Shareholder 1 Sep 2019 Other 4645681
Charles Bradford Jackson Shareholder 1 Sep 2019 Other 2843067

Based in Thomasville

The principal office where Southeast Asset Advisors Inc performs its advisory services is located at 314 Gordon Avenue, Thomasville, GA 31792, which is also the mailing address of the firm. An additional office of the firm is in Tallahassee, FL. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 229-226-8839 or by fax 229-226-1445. The normal business hours are 8:30 am - 5:30 pm on Monday - Friday. You can find more information about the New York firm at assetadvisor.com.