JW Cole Advisors (JWCA) is a registered investment advisor firm located in Tampa, Florida, that conducts its advisory business through a network of hundreds of investment advisor representatives (IARs). Through these independent advisors, the fee-based firm works with both individual and institutional clients around the country.
JW Cole Advisors Background
JWCA was founded in 2000 by John Carlson. Carlson also serves as the firm’s president, chief executive officer (CEO) and chief financial officer (CFO). JWCA chiefly offers investment advisory services, while its affiliated, independent broker-dealer, JW Cole Financial, Inc., provides securities, investment products and insurance services to independent advisors. National Financial Services, LLC (NFS) serves as JWCA’s clearing firm for its brokerage business.
JW Cole Advisors Client Types and Minimum Account Sizes
JWCA serves individuals and high-net-worth individuals, partnerships, trusts, estates, pension and profit-sharing plans, charities, corporations and other entities. The firm does not require a minimum account balance to work with them.
Services Offered by JW Cole Advisors
JWCA specializes in the following advisory services:
- Portfolio management: JW Cole Advisors offers four types of managed programs:
- Traditional and Signature Advisory Account Programs: IARs directly manage client accounts according to their financial profile and investment objectives.
- Asset-based Advisory Account Program: Wrap fee program with one, an all-inclusive fee that covers advisory services, custodial and transactional fees. IARs tailor their investment advice to a client's financial profile and investment objectives.
- Managed Account Solutions Program: This allows an IAR to manage a client's investment advisory portfolio by using a third-party advisory service.
- JWCA AMP Program: Automated online program that uses a simple question-based process to access risk tolerance and build a client's portfolio.
- Financial planning
- Selection of other advisors, including private fund managers
- Variable Annuity sub-account management
JW Cole Advisors Investment Philosophy
Among the firm’s top securities evaluation methods are fundamental analysis and technical analysis. JWCA may invest a variety of public and private securities, including equities, corporate debt, government obligations, municipal securities, exchange-traded funds (ETFs), unit investment trusts, mutual funds, annuities and insurance products and other investment instruments.
After determining a client’s circumstances, investment objectives and needs, JWCA employ one or more of the following strategies: long- and short-term purchases, trading, margin transactions and option transactions.
Fees Under JW Cole Advisors
JWCA charges a Gross Advisory Fee of 1.35% of your account's average daily asset balance for its AMP program. This fee does not include the underlying mutual fund and ETF expenses.
Asset-based wrap program fees follow this schedule:
|Amount of assets||Management fee||Program fee||Total management fee|
|$500,001 - $1MM||1.75%||0.25%||2.00%|
|$1,000,001 - $2MM||1.50%||0.24%||1.74%|
The firm may also charge a flat rate or by the hour for financial planning and consulting services. Hourly rates may range up to $350 per hour. Clients who work with third-party investment advisors will incur management fees that cover the advisor, JWCA, platform provider and transaction costs. For variable annuity sub-accounts, advisors charge up to 2.00% of AUM.
What to Watch Out For
JWCA’s Form ADV reports one regulatory action, which involved one or more of its advisory affiliates. The action was given for unaffiliated companies receiving three types of fees between January 2014 and March 2021. The resolution provided the firm with a censure, cease and desist and to pay a fine as well as disgorgement that together totaled $1,957,053.11.
The majority of the firm's IARs are dually registered as representatives of JW Cole Financial and may also be licensed insurance agents. When recommending or selling insurance or investment products, advisors can earn commission-based compensation in addition to the firm’s asset-based management fees. This creates potential conflicts of interest. That said, the firm has a fiduciary duty to put clients' interests first, and it says it requires its representatives to disclose all conflicts of interest.
Opening an Account With JW Cole Advisors
To contact the firm, call the firm’s principal office at (813) 935-6776 to set up an appointment.
All information was accurate as of the writing of this article.
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