Mainsail Asset Management, LLC (Birmingham)

Name: Mainsail Asset Management, LLC
Address: 2229 1 St Ave. S., Suite 225, Birmingham, AL, 35233
Telephone: 205-536-7776

Mainsail Asset Management, LLC is a large advisory firm based in Birmingham. It manages $140.5 million of regulatory assets for 375 client accounts. It has been registered with the SEC as an adviser since 2007 and has operated in the jurisdictions of Alabama and Florida.

Mainsail Asset Management provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, pension consulting services, selection of other advisers, and consulting services. It prepares financial plans for more than 25 clients. On top of advisory services, the firm doesn't engage in other business activities.

Mainsail Asset Management: assets under management

The assets under management (AUM) of Mainsail Asset Management, LLC is $140.5 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 436% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $140.5 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $374.68 thousand each.

Mainsail Asset Management has custody of $38.15 million in cash and securities for 24 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in investment and business development companies the most. They account for 57% of the total AUM. The second-largest asset type is exchange traded securities, which make up 23% of the firm’s portfolio. Investments in cash and cash equivalents form 7% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Mainsail Asset Management, LLC for their services and products based on a percentage of assets under management and fixed fees. 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 Mainsail Asset Management serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of Mainsail Asset Management is high net worth individuals with 51 clients and $125.92 million of assets under management. Among the 11 most similar advisory firms, Mainsail Asset Management has the highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $137.46 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.

Mainsail Asset Management doesn't advise any private funds.

Careers at Mainsail Asset Management, LLC

The company employs 3 people that are either part- or full-time employees. 67 percent of the employees work as investment advisers or researchers. 2 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.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
William Harvey Parsons	Managing member	1 Aug 2003	75% - 100%	4708399

Based in Birmingham

The principal office where Mainsail Asset Management, LLC performs its advisory services is located at 2229 1 St Ave. S., Suite 225, Birmingham, AL 35233, 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 205-536-7776 or by fax 866-542-0388. The normal business hours are 8:00 a.m.-5:00 p.m. on Monday - Friday. You can find more information about the New York firm at investprudently.com.