Bb&T Securities, LLC (Richmond)

Name: Bb&T Securities, LLC
Address: 901 East Byrd Street, Richmond, VA, 23219
Telephone: 804-643-1811

Bb&T Securities, LLC is a large advisory firm based in Richmond. It manages $20.26 billion of regulatory assets for 56,514 client accounts. It has been registered with the SEC as an adviser since 2013 and has operated in the jurisdictions of Alabama, Alaska, Arizona, and 49 other states.

Bb&T Securities provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, pension consulting services, and selection of other advisers. It prepares financial plans for approximately 3,200 clients. On top of advisory services, the firm doesn't engage in other business activities.

Bb&T Securities: assets under management

The assets under management (AUM) of Bb&T Securities, LLC is $20.26 billion. The firm's AUM has grown by 358% since the beginning of its operation, and $15.91 million of the total AUM is attributable to clients outside of the United States.

The firm manages $16.58 billion in discretionary accounts and $3.68 billion in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $346.1 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $427.1 thousand.

Bb&T Securities has custody of $19.4 billion in cash and securities for 56,211 clients in total and acts as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 60% of the total AUM. The second-largest asset type is investment and business development companies, 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 Bb&T Securities, LLC for their services and products based on a percentage of assets under management, fixed fees, and commissions. 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 Bb&T Securities serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, banking or thrift institutions, corporations or other businesses, pension and profit sharing plans, and state or municipal government entities. The largest group of clients of Bb&T Securities is individuals with 51,256 clients and $10.4 billion of assets under management. Among the 11 most similar advisory firms, Bb&T Securities has the highest percentage of individuals out of all clients.

The amount of regulatory assets under management is $20.26 billion for 56,514 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.

Bb&T Securities doesn't advise any private funds.

Careers at Bb&T Securities, LLC

The company employs 1,840 people that are either part- or full-time employees. 32 percent of the employees work as investment advisers or researchers. 1,219 employees are registered as investment adviser representatives with the state securities authorities.

There are 6 people 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.

Bryan Scott Cram joined the executive team most recently as the Chief Executive Officer/Board Of Managers.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Bb&T Corporation	Sole member	1 Aug 2006	75% - 100%	56-0939887
George William Iv Robbins	Board of managers/senior managing director/president bb&t securities service	1 Jan 2013	Other	2440106
Bryan Scott Cram	President private client group/ board of managers	1 Jan 2013	Other	2723431
Randall Barrett Saufley	Chief financial officer/finop/managing director	1 Jan 2013	Other	1664935
Alexander Wilson Cecil	Chief compliance officer/board of managers	1 Jan 2013	Other	2319938
Merlin T Grim	Financial operations & risk officer/sr. managing director / board of managers	1 Jan 2013	Other	1386380
William Rufus Iii Yates	Chief executive officer/ board of managers	1 Jan 2013	Other	4515188
Justin Shane Thompson	Rop	1 Jan 2013	Other	3200997
John Bernard Jr Jung	Sr managing director/head of capital markets /board of managers	1 Jan 2013	Other	1296163
Sidney Buford Scott	Chairman board of managers	1 Jan 2013	Other	417234
Hal Swords Johnson	Board of managers	1 Jan 2013	Other	2932544
Patrick Arthur O'shea	Senior managing director/head of equity capital markets/board of managers	1 Jan 2013	Other	1580879
William Edward Hardy	Senior managing director/head of fixed income capital markets/board of managers	1 Jan 2013	Other	1459645
Michael Cole Owen	Senior managing director/regional manager	1 Jan 2013	Other	1146778
Michael Douglas Ball	Senior managing director/regional manager	1 Jan 2013	Other	1134463
Kenneth Lue Daniels	Board of managers	1 Jan 2013	Other	5562440
Thomas Michael Clark	Board of managers	1 Feb 2015	Other	5721245
Wayne Clark Griffin	Rop	1 Apr 2017	Other	1518164
Lloyd Daniel Francis	Board of managers	1 Mar 2018	Other	1292331
Olga Rip	Principal financial officer	1 Oct 2018	Other	5440553
Tonya Belfield Tyson	Principal operations officer	1 Oct 2018	Other	1987448
Bryan Scott Cram	Chief executive officer/board of managers	1 Jan 2019	Other	2723431
William Rufus Iii Yates	Chairman board of managers	1 Jan 2019	Other	4515188
Sidney Buford Scott	Chairman emeritus	1 Jan 2019	Other	417234

Based in Richmond

The principal office where Bb&T Securities, LLC performs its advisory services is located at 901 East Byrd Street, Richmond, VA 23219, which is also the mailing address of the firm. An additional office of the firm is in Virginia Beach, VA. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 804-643-1811 or by fax 804-783-6032. The normal business hours are 8:30 a.m. to 5:00 p.m. on Monday - Friday. You can find more information about the New York firm at bbtsecurities.com.