Bankplus Wealth Management, LLC (Jackson)

Name: Bankplus Wealth Management, LLC
Address: 1200 Eastover Drive, Jackson, MS, 39211
Telephone: 601-607-4290

Bankplus Wealth Management, LLC is a large advisory firm based in Jackson. It manages $130.26 million of regulatory assets for 177 client accounts. It has been registered with the SEC as an adviser since 2014 and has operated in the jurisdictions of Florida, Louisiana, Mississippi, and Texas.

Bankplus Wealth Management provides portfolio management for individuals and small businesses and portfolio management for businesses and institutional clients. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Bankplus Wealth Management: assets under management

The assets under management (AUM) of Bankplus Wealth Management, LLC is $130.26 million, all of which is managed in discretionary accounts. The firm's AUM has gone down by -13% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $130.26 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $735.92 thousand each.

Investments

The firm invests in exchange traded securities the most. They account for 86% of the total AUM. The second-largest asset type is state and local bonds, which make up 7% of the firm’s portfolio. Investments in cash and cash equivalents form 4% of the total invested assets.

Fees & Commissions

The advisory firm has a single stream of revenue. Clients pay Bankplus Wealth Management, LLC for their services and products based on a percentage of assets under management. 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 Bankplus Wealth Management serves?

The firm provides services to individuals, high net worth individuals, and corporations or other businesses. The largest group of clients of Bankplus Wealth Management is high net worth individuals with 38 clients and $116.75 million of assets under management. Among the 12 most similar advisory firms, Bankplus Wealth Management has the highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $130.26 million for 113 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.

Bankplus Wealth Management doesn't advise any private funds.

Careers at Bankplus Wealth Management, LLC

The company employs 5 people that are either part- or full-time employees. 80 percent of the employees work as investment advisers or researchers. 5 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.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Forbes Lewis Watson	Senior vice president	1 Jan 2010	Other	1050748
Julia M Ott	Vice president	1 Jan 2013	Other	1763486
Bankplus	Member	1 Jun 2014	75% - 100%	640134513
Mary Patricia Martin	Chief compliance officer	1 May 2017	Other	2840275

Indirect Owners

The SEC currently registers 1 indirect owner.

Name	Entity	Date acquired	Ownership	Employer ID
Bancplus Corporation	Holding company of bankplus	1 Jun 2014	75% - 100%	640655312

Based in Jackson

The principal office where Bankplus Wealth Management, LLC performs its advisory services is located at 1200 Eastover Drive, Jackson, MS 39211, 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 601-607-4290 or by fax 601-607-4320. The normal business hours are 8:00 am - 4:00 pm on Monday - Friday. You can find more information about the New York firm at bankplus.net.