Verity Asset Management

CRD#158667
Investment Advisor Firm

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Overview

Verity Asset Management operates as a financial advisory firm located in Durham, North Carolina. It handles $783.2 million in assets over 7,489 customer accounts, placing it among the bigger investment advisory firms in the United States by assets under management (AUM). Verity Asset Management has an average-sized group, including 51 financial advisors. Verity Asset Management does not act as a registered broker-dealer, signifying that it is not able to buy and sell securities for its accounts and those of its customers and instead must go through a broker-dealer company to do so. Securities are tradable fiscal assets such as bonds, options and stocks.

Verity Asset Management administers all of the company's accounts on a discretionary basis. Discretionary management is a structure in which buy and sell decisions for the client's account are made by an investment advisor without needing to seek the client's authorization. The advisory firm's typical account size is $104,574. An average advisor at Verity Asset Management manages around 147 client accounts.

The company's headquarters is at 280 S Mangum St, Durham, North Carolina 27701-3676. The company is registered to provide services to clients throughout 31 U.S. states and territories.

Assets Under Management

$783.2 million

Number of Advisors

51

Disclosures

No

Office Location

280 S Mangum St
Durham, NC 27701-3676

Verity Asset Management by the Numbers

Total Assets Under Management

$783.2 million

National Average: $8.6 billion
Total Number of Employees

69

National Average: 64
Total Number of Accounts

7,489

National Average: 375,227
Average Account Size

$104.6 thousand

National Average: $23.0 thousand
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Products and Services

Verity Asset Management provides multiple services, which can consist of financial planning services, portfolio management for individuals and small businesses, portfolio management for institutional clients, pension consulting services, selection of other advisers, educational seminars and other services. However, the firm did not provide financial planning services to any of its accounts in the previous fiscal year. The company is not involved in selling products or offering services aside from investment advice to its investment advisory clients. The company is also affiliated with one or more other companies in the financial services industry, including with a broker-dealer or securities dealer, accountant or accounting firm, lawyer or law 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.

  • Offered by 6% of firms

    Educational Seminars/Workshops

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

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Fee Structure

Financial advisory fees typically are based on which service is provided. However, fees charged by Verity Asset Management can consist of the following fee structures: asset-based, hourly or fixed. Wrap fee programs, or the practice of bundling services for a single fee, are not provided by the company.

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.

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.

  • Find one of the 10% of firms that offer this fee type

    Other

    Show Explanation

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

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Types of Clients

The firm does business with a number of different customers. The company provides services to retail investors, high net worth investors, pension plans, other investment advisers and corporations. Out of its 7,489 clients, Verity Asset Management's biggest client group is retail investors, though it also caters to 136 high-net-worth individuals. The SEC defines a high-net-worth individual as an individual who has at least $750,000 under management or a net worth of at least $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 accounts reside abroad.

  • High-Net-Worth Individuals* - 3.26%
  • Other Individuals - 96.24%
  • Corporations - 0.5%
  • Charitable Organizations - 0%

* 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

Verity Asset Management does not have any disclosures.

Please visit its Form ADV for more details.

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Financial Advisors at Verity Asset Management

William Barnes
Rockingham, NC
Gary D'Alessio
Durham, NC
Vickie Mach
Durham, NC
Ronald Gibbs
Durham, NC
Conrad Walker
Danville, CA
David Cox
Austin, TX
Nickolas Moes
Keller, TX
Brad Corbett
Durham, NC

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The content in this profile was updated by SmartAsset on 4/16/2023. All advisor details come from publicly available data, and we cannot guarantee the accuracy of the content. We are unable to make individual profile updates. If you want your profile removed temporarily or permanently, please contact profile-compliance@smartasset.com.

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