First Endowment Development Corp (Houston)

Name: First Endowment Development Corp
Address: 6363 Woodway, Houston, TX, 77057
Telephone: 713-977-2694

First Endowment Development Corp is a large advisory firm based in Houston. It manages $2.18 billion of regulatory assets for 132 client accounts. It has been registered with the SEC as an adviser since 2001 and has operated in the jurisdictions of California, Massachusetts, and Texas.

First Endowment Development Corp provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, and selection of other advisers. It prepares financial plans for more than 100 clients. On top of advisory services, the firm doesn't engage in other business activities.

First Endowment Development Corp: assets under management

The assets under management (AUM) of First Endowment Development Corp is $2.18 billion. The firm's AUM has grown by 143% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $5.98 million in discretionary accounts and $2.18 billion in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $2.99 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $16.76 million.

First Endowment Development Corp has custody of $132.11 million in cash and securities for 93 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 37% of the total AUM. The second-largest asset type is exchange traded securities, which make up 29% of the firm’s portfolio. Investments in pooled investment vehicles form 14% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay First Endowment Development Corp for their services and products based on a percentage of assets under management and fixed fees. Flat-fee based compensation is the most transparent and the one you can safely predict in advance. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Nancy Beth Savoie serves?

The firm provides services to charitable organizations and high net worth individuals. The largest group of clients of Nancy Beth Savoie is high net worth individuals with 119 clients and $1.66 billion of assets under management. Among the 12 most similar advisory firms, First Endowment Development Corp has the highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $2.18 billion for 122 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.

First Endowment Development Corp doesn't advise any private funds.

Careers at First Endowment Development Corp

The company employs 8 people that are either part- or full-time employees. 100 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.

Nancy Beth Savoie has been acting as President since 1 Jun 2008. Paul Leon Comstock joined the executive team most recently as the Director, Relationship Manager.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Paul Leon Comstock	Chairman of the board	1 Jun 1995	75% - 100%	51804
Stephen Carpenter Browne	Senior vp - cio - chief compliance officer	1 Jan 2000	Other	4522357
William J. Murray	Chief executive officer	1 Aug 2000	25% - 50%	4346708
Joan Mason Sutphen	Sr. vice president	1 Aug 2000	Other	862951
Shana Louise Maggard	President - coo, cfo, ceo	1 Jun 2003	Other	2598117
Karen Margaret Mcneil	Sec/treas - compliance administrator	1 Jan 2005	Other	5029551
Nancy Beth Savoie	Senior vp - director of client services	1 Jul 2006	Other	2861998
Nancy Beth Savoie	President	1 Jun 2008	Other	2861998
Alison Comstock Moss	Vice president	1 Oct 2010	Other	5524696
James Paul Engelbrecht	Vice president of research	1 Jul 2014	Other	4626363
Stephen Carpenter Browne	Director,cio,cco	1 Jan 2015	Other	4522357
William Robert Berger	Managing director	1 May 2015	Other	2097711
Paul Leon Comstock	Director, relationship manager	1 Mar 2018	25% - 50%	51804
Nancy Beth Savoie	Director, relationship manager	1 Mar 2018	Other	2861998
Alison Comstock Moss	Chairman/ceo	1 Mar 2018	Other	5524696
Alison Comstock Moss Separate Property Trust	Owner	1 Mar 2018	50% - 75%	456970857

Indirect Owners

The SEC currently registers 1 indirect owner.

Name	Entity	Date acquired	Ownership	Employer ID
Alison Comstock Moss	Trustee	1 Jan 2018	Other	5524696

Based in Houston

The principal office where First Endowment Development Corp performs its advisory services is located at 6363 Woodway, Houston, TX 77057, 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 713-977-2694 or by fax 713-877-1363. The normal business hours are 8:30 am to 5:30 pm on Monday - Friday. You can find more information about the New York firm at paulcomstockpartners.com.