Colton Groome Financial Advisors, LLC (Asheville)

Name: Colton Groome Financial Advisors, LLC
Address: 1127 B Hendersonville Road, Asheville, NC, 28803
Telephone: 828-252-1816

Colton Groome Financial Advisors, LLC is a large advisory firm based in Asheville. It manages $126.43 million of regulatory assets for 325 client accounts. It has been registered with the SEC as an adviser since 2018 and has operated in the jurisdictions of Florida and North Carolina.

Colton Groome Financial Advisors provides financial planning services, portfolio management for individuals and small businesses, selection of other advisers, and qualified retirement plan and/or non-qualified deferred compensation plan consulting and insurance consulting.. It prepares financial plans for more than 50 clients. On top of advisory services, the firm doesn't engage in other business activities.

Colton Groome Financial Advisors: assets under management

The assets under management (AUM) of Colton Groome Financial Advisors, LLC is $126.43 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 6% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $126.43 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $389.01 thousand each.

Investments

The firm invests in investment and business development companies the most. They account for 92% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 8% of the firm’s portfolio.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Colton Groome Financial Advisors, LLC for their services and products based on a percentage of assets under management, hourly charges, 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 Colton Groome Financial Advisors serves?

The firm provides services to individuals, charitable organizations, and high net worth individuals. The largest group of clients of Colton Groome Financial Advisors is high net worth individuals with 83 clients and $106.78 million of assets under management. Among the 10 most similar advisory firms, Colton Groome Financial Advisors has the highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $126.43 million for 142 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.

Colton Groome Financial Advisors doesn't advise any private funds.

Careers at Colton Groome Financial Advisors, LLC

The company employs 12 people that are either part- or full-time employees. 83 percent of the employees work as investment advisers or researchers. 7 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
Colin Svend Larsen	Cco/director personal financial strategies	1 Oct 2004	Other	4212324
Llc. Groome Holdings	Owner	1 Jan 2016	75% - 100%	47-2230637
George Morrow Groome	Board chair	1 Jan 2017	Other	808531
George Tatum Groome	Co-ceo	1 Jan 2017	Other	4747797
Matthew Lindsay Groome	Co-ceo	1 Jan 2017	Other	5693511

Indirect Owners

The SEC currently registers 3 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
George Morrow Groome	Owner	1 Sep 2003	25% - 50%	808531
Matthew Lindsay Groome	Owner	1 Jan 2016	25% - 50%	5693511
George Tatum Groome	Owner	1 Jan 2016	25% - 50%	4747797

Based in Asheville

The principal office where Colton Groome Financial Advisors, LLC performs its advisory services is located at 1127 B Hendersonville Road, Asheville, NC 28803, 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 828-252-1816 or by fax 844-442-4329. The normal business hours are 8:00 am - 5:00 pm on Monday - Friday. You can find more information about the New York firm at coltongroome.com.