Flippin Bruce & Porter Inc (Lynchburg)

Name: Flippin Bruce & Porter Inc
Address: 800 Main Street, Lynchburg, VA, 24504 1508
Telephone: 434-845-4900

Flippin Bruce & Porter Inc is a large advisory firm based in Lynchburg. It manages $595.57 million of regulatory assets for 484 client accounts. It has been registered with the SEC as an adviser since 2001 and has operated in the jurisdictions of Alabama, California, Florida, and 17 other states.

Flippin Bruce & Porter provides portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for businesses and institutional clients, and provide portfolio-modeling research; provide retirement account consulting services. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Flippin Bruce & Porter: assets under management

The assets under management (AUM) of Flippin Bruce & Porter Inc is $595.57 million, all of which is managed in discretionary accounts. The firm's AUM has gone down by -78% since the beginning of its operation, and $1.84 million of the total AUM is attributable to clients outside of the United States.

The firm manages $595.57 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $1.23 million each.

Flippin Bruce & Porter has custody of $65.63 million in cash and securities for 46 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 85% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 6% of the firm’s portfolio. Investments in investment grade corporate bonds form 5% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Flippin Bruce & Porter Inc for their services and products based on a percentage of assets under management and hourly charges. 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 Robert Gregory Porter serves?

The firm provides services to investment companies, charitable organizations, high net worth individuals, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Robert Gregory Porter is high net worth individuals with 433 clients and $445.98 million of assets under management. Among the 10 most similar advisory firms, Flippin Bruce & Porter has the 2nd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $595.57 million for 484 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.

Flippin Bruce & Porter doesn't advise any private funds.

Careers at Flippin Bruce & Porter Inc

The company employs 13 people that are either part- or full-time employees. 38 percent of the employees work as investment advisers or researchers. 7 employees are registered as investment adviser representatives with the state securities authorities.

There’s a single person 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.

Robert Gregory Porter has been acting as President since 1 Apr 1985. John Thomas Bruce joined the executive team most recently as the Director/President/Executive Committee.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Robert Gregory Porter	Director	1 Apr 1985	Other	1735232
John Morton Flippin	Director/president/executive committee	1 Apr 1985	Other	1735159
John Thomas Bruce	Director/treasurer/executive committee	1 Apr 1985	25% - 50%	846177
Michael Eugene Watson	Controller	1 Jun 1997	Other	4936414
David Jarrell Marshall	Executive committee	1 Jan 2002	Other	863290
John Henry Hanna	Executive committee	1 Jan 2002	Other	1030242
Teresa Layne Sanderson	Chief compliance officer	1 Jan 2004	Other	4777407
John Thomas Bruce	Director/president/executive committee	1 Mar 2008	50% - 75%	846177
David Jarrell Marshall	Director/secretary/executive committee	1 Mar 2008	Other	863290
John Henry Hanna	Director/vice president/executive committee	1 Mar 2008	Other	1030242
Michael Eugene Watson	Treasurer/controller	1 Mar 2008	Other	4936414
Norman Delmas Darden	Executive committee	1 Mar 2008	Other	4555989
Stephen Wilson Simmons	Executive committee	1 Mar 2008	Other	3101969

Based in Lynchburg

The principal office where Flippin Bruce & Porter Inc performs its advisory services is located at 800 Main Street, Lynchburg, VA 24504 1508 The mailing address of the firm is P.O. Box 6138, Lynchburg, VA 24505 6138. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 434-845-4900 or by fax 434-846-3846. The normal business hours are 8:00am-5:00pm et on Monday - Friday. You can find more information about the New York firm at fbpinc.com.