Barnes Pettey Financial Advisors, LLC

CRD#142944
Investment Advisor Firm

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Learn more about Barnes Pettey Financial Advisors, LLC

  • Overview
  • By the Numbers
  • Products and Services
  • Fee Structure
  • Types of Clients
  • Disclosures
  • State Registrations
  • Office Locations
  • Firm Advisors

    • Overview

    Barnes Pettey Financial Advisors, LLC operates as a financial advisory firm that has its headquarters in Clarksdale, Mississippi. Barnes Pettey Financial Advisors, LLC manages $965.2 million in assets over 2,796 accounts, making it one of the bigger firms in the United States by assets under management (AUM). It has a small group, including 10 financial advisors. Barnes Pettey Financial Advisors, LLC does not act as a registered broker-dealer, signifying that the company is not able to buy and sell securities for its accounts and those of its clients and instead must go through a broker-dealer company to do so. Securities are defined as exchangable fiscal investments such as bonds, stocks and options.

    Barnes Pettey Financial Advisors, LLC manages 2,400 of the company's accounts in a discretionary manner. Discretionary management signifies that a portfolio manager makes buy and sell decisions without needing to seek client consent. Barnes Pettey Financial Advisors, LLC also oversees 396 non-discretionary accounts with a total of $75.0 million in assets. The investment advisory firm supervises about $345,207 for each customer account. An average financial advisor at Barnes Pettey Financial Advisors, LLC oversees around 280 client accounts.

    Barnes Pettey Financial Advisors, LLC's main office is at 252 Sunflower Avenue, Clarksdale, Mississippi 38614. The company is allowed to serve clients across 14 U.S. states and territories.

    Assets Under Management

    $965.2 million

    Number of Advisors

    10

    Disclosures

    No

    Office Location

    252 Sunflower Avenue
    Clarksdale, MS 38614

    Barnes Pettey Financial Advisors, LLC by the Numbers

    Total Assets Under Management

    $965.2 million

    National Average: $8.6 billion
    Total Number of Employees

    18

    National Average: 64
    Total Number of Accounts

    2,796

    National Average: 375,227
    Average Account Size

    $345.2 thousand

    National Average: $23.0 thousand
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    Products and Services

    Barnes Pettey Financial Advisors, LLC provides a variety of services, which can include financial planning services, portfolio management for individuals and small businesses, pension consulting services and selection of other advisers. In the last financial year, Barnes Pettey Financial Advisors, LLC provided 26-50 of its accounts with financial planning services. Barnes Pettey Financial Advisors, LLC is not engaged in selling products or offering services other than investment advice to its investment advisory accounts. It also has a number of financial industry affiliations, including with an accountant or accounting firm and insurance company or agency.

    Core Advisor Services

    • Offered by 31% of firms

      Financial Planning Services

      This is the process of planning for your financial future, including for events such as retirement, your child's college education or estate succession.

    • Offered by 46% of firms

      Portfolio Management

      This is the selection and management of an investment mix and portfolio strategy for individuals and small businesses.

    • Find a firm that offers this service

      Market Timing Services

      This is the practice of attempting to make short-term profits on investments by buying low and selling high.

    Other Services

    • Offered by 20% of firms

      Selection of Other Advisors

      This is the firm's assistance with choosing other advisors to work with who may have different specialties.

    • Find a firm that offers this service

      Publication of Periodicals

      This is the publication of various financial education materials.

    • Find a firm that offers this service

      Educational Seminars/Workshops

      This is the hosting of seminars or workshops to educate investors on financial concepts.

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    Fee Structure

    Financial management fees typically vary depending on which services the firm provides the client. However, fees billed by the company most likely consist of the following fee structures: asset-based, hourly, fixed or other. Barnes Pettey Financial Advisors, LLC participates in a wrap fee program, in which the company offers a service bundle for a single fee.

    Available

    • Offered by 69% of firms

      Percentage of Assets

      Show Explanation

      This fee, which is the most common fee type charged by advisors for portfolio management, is based on the amount of assets you have under management. Also referred to as an asset-based fee, this fee typically ranges from 0.50%-2.00% of AUM annually. You'll typically pay a lower rate the more assets you have under management.

    • Offered by 21% of firms

      Hourly

      Show Explanation

      Like a lawyer, a financial advisor may charge you by the hour. This can be helpful if you are only looking for short-term or one-time advice. Rates typically range from $100-$300 per hour, depending on the complexity and level of services needed.

    • Offered by 32% of firms

      Fixed

      Show Explanation

      Fixed fees are a one-time, lump sum charged for a specific service, like the creation of a financial plan without subsequent implementation. This can be useful if you only need advice for one specific purpose, rather than a long-term advisor. Fixed fees usually range from $1,000 to $3,000.

    • Offered by 10% of firms

      Other

      Show Explanation

      Firms can sometimes charge customers using non-traditional fee structures. See this firm's Form ADV for more details.

    Unavailable

    • Find one of the 1% of firms that offer this fee type

      Commissions

      Show Explanation

      Occasionally, advisors earn commissions from selling financial products, such as securities or insurance policies, or making certain referrals or transactions. Advisors who earn commissions may be incentivized to make certain recommendations to clients in order to make a commission. Fee-only advisors do not earn commissions, while fee-based advisors may.

    • Find one of the 26% of firms that offer this fee type

      Performance-based

      Show Explanation

      Advisors only earn performance-based fees if a portfolio outperforms a defined benchmark. This fee may be calculated in a number of ways but most commonly is charged as a percentage of investment profits. Performance-based fees may incentivize advisors to make riskier decisions in order to generate higher returns.

    • Find one of the 0% of firms that offer this fee type

      Subscription

      Show Explanation

      Firms generally charge this fee for educational materials provided, such as a monthly magazine. This can be useful if you want to learn about investing or financial management on your own.

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    Types of Clients

    The company works with a number of different customers. The company works with retail investors, high net worth investors, pension plans, charitable organizations, corporations and other. Out of its 2,796 clients, Barnes Pettey Financial Advisors, LLC's largest client type is retail investors, though it also caters to 675 high-net-worth individuals. A high-net-worth individual is defined by the SEC as someone who has at least $750,000 in AUM or a net worth of more than $1.50 million or who is deemed a "qualified purchaser" (a standard met by having at least $5 million in investments). None of the company's customers are represented by people from outside of the U.S.

    • High-Net-Worth Individuals* - 28.59%
    • Other Individuals - 64.38%
    • Corporations - 6.52%
    • Charitable Organizations - 0.51%

    * The U.S. Securities and Exchange Commission (SEC) defines a high-net-worth individual as someone who has at least $750,000 under management.

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    Disclosures

    Barnes Pettey Financial Advisors, LLC does not have any disclosures.

    Please visit its Form ADV for more details.

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    Financial Advisors at Barnes Pettey Financial Advisors, LLC

    Kathryn Hodges
    Clarksdale, MS
    Joseph Friend
    Memphis, TN
    Joseph Simpson
    Clarksdale, MS
    Andrew Yee
    Clarksdale, MS
    Julie Flowers
    Clarksdale, MS
    Ryan Barnes
    Jackson, MS
    Richard Devoe
    Clarksdale, MS
    Gerald Smith
    Grenada, MS
    Holmes Pettey
    Clarksdale, MS

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