Morris Financial Concepts, Inc. (Mount Pleasant)

Name: Morris Financial Concepts, Inc.
Address: 409 Coleman Blvd, Ste 100, Mount Pleasant, SC, 29464 5318
Telephone: 843-884-6192

Morris Financial Concepts, Inc. is a large advisory firm based in Mount Pleasant. It manages $217.72 million of regulatory assets for 773 client accounts. It has been registered with the SEC as an adviser since 2002 and has operated in the jurisdictions of Florida, Louisiana, North Carolina, and 3 other states.

Morris Financial Concepts provides financial planning services, portfolio management for individuals and small businesses, and portfolio management for businesses and institutional clients. It prepares financial plans for more than 100 clients. On top of advisory services, the firm doesn't engage in other business activities.

Morris Financial Concepts: assets under management

The assets under management (AUM) of Morris Financial Concepts, Inc. is $217.72 million. The firm's AUM has grown by 409% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $214.99 million in discretionary accounts and $2.73 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $281.04 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $341.21 thousand.

Morris Financial Concepts has custody of $66.59 million in cash and securities for 127 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 64% of the total AUM. The second-largest asset type is exchange traded securities, which make up 29% of the firm’s portfolio. Investments in cash and cash equivalents form 6% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Morris Financial Concepts, Inc. for their services and products based on a percentage of assets under management, hourly charges, and fixed fees. Hourly charges are usually charged for consulting work and special projects. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Kyra Hollowell Morris serves?

The firm provides services to individuals, high net worth individuals, and pension and profit sharing plans. The largest group of clients of Kyra Hollowell Morris is high net worth individuals with 109 clients and $169.17 million of assets under management. Among the 8 most similar advisory firms, Morris Financial Concepts has the 2nd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $217.72 million for 276 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.

Morris Financial Concepts doesn't advise any private funds.

Careers at Morris Financial Concepts, Inc.

The company employs 8 people that are either part- or full-time employees. 63 percent of the employees work as investment advisers or researchers. 5 employees are registered as investment adviser representatives with the state securities authorities.

There isn’t anyone 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.

Kyra Hollowell Morris has been acting as President since 1 Jan 2001. Mario Anthony Nardone has served as the Chief Investment Officer since 1 Feb 2010. Robert Stanley Morris joined the executive team most recently as the Vice President.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Kyra Hollowell Morris	President	1 Jan 2001	75% - 100%	1174952
Joseph Gerney Hollowell	Chief of operations	1 Jan 2002	Other	4490140
Joseph Gurney Hollowell	Chief operations officer	1 Jan 2002	Other	4490140
Sharon Wheeler Cook	Office manager	1 Dec 2002	Other	4650491
Sharon Wheeler Cook	Partial owner	1 Jan 2003	Other	4650491
Robert Stanley Morris	Shareholder	1 Dec 2004	Other	5120468
Mary Elizabeth Ivy	Chief operations officer	1 Oct 2006	Other	5652790
Dennis Michael Patrick	Chief compliance officer	1 Oct 2008	Other	2967792
Mario Anthony Nardone	Chief investment officer	1 Feb 2010	Other	3223250
Robert Stanley Morris	Chief compliance officer	1 Apr 2011	Other	5120468
Robert Stanley Morris	Chief technology officer	1 Aug 2011	Other	5120468
Mario Anthony Nardone	Chief compliance officer and chief investment officer	1 Aug 2011	Other	3223250
Robert Stanley Morris	Chief compliance officer	1 Aug 2013	Other	5120468
James Tucker Morris	Chief compliance officer	1 Mar 2014	Other	6314769
Robert Stanley Morris	Vice president	1 Mar 2015	Other	5120468

Based in Mount Pleasant

The principal office where Morris Financial Concepts, Inc. performs its advisory services is located at 409 Coleman Blvd, Ste 100, Mount Pleasant, SC 29464 5318, 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 843-884-6192 or by fax 888-957-0896. The normal business hours are m-f 9am-5pm; f 9am-1pm on Monday - Friday. You can find more information about the New York firm at mfcplanners.com.