Money Management Services, Inc. (Birmingham)

Name: Money Management Services, Inc.
Address: 2100 A Southbridge Parkway, Birmingham, AL, 35209
Telephone: 205-871-7526

Money Management Services, Inc. is a large advisory firm based in Birmingham. It manages $234.32 million of regulatory assets for 993 client accounts. It has been registered with the SEC as an adviser since 2008 and has operated in the jurisdictions of Alabama, Florida, Georgia, Tennessee, and Texas.

Money Management Services provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, selection of other advisers, educational seminars and workshops, and investment consulting. It prepares financial plans for more than 250 clients. On top of advisory services, the firm doesn't engage in other business activities.

Money Management Services: assets under management

The assets under management (AUM) of Money Management Services, Inc. is $234.32 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 55% since the beginning of its operation, and $16.45 thousand of the total AUM is attributable to clients outside of the United States.

The firm manages $234.32 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $235.97 thousand each.

Money Management Services has custody of $21.9 million in cash and securities for 44 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 94% of the total AUM. The second-largest asset type is non-exchange traded securities, which make up 3% of the firm’s portfolio. Investments in other assets form 3% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Money Management Services, Inc. for their services and products based on a percentage of assets under management, hourly charges, 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 Gwendolyn Richards Rice serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of Gwendolyn Richards Rice is high net worth individuals with 92 clients and $129.83 million of assets under management. Among the 10 most similar advisory firms, Money Management Services has the 5th lowest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $234.32 million for 414 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.

Money Management Services doesn't advise any private funds.

Careers at Money Management Services, Inc.

The company employs 8 people that are either part- or full-time employees. 38 percent of the employees work as investment advisers or researchers. 3 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.

Gwendolyn Richards Rice has been acting as President since 1 Sep 1992. Andrew Donald Rice joined the executive team most recently as the Vice President, Chief Financial Officer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Donald Ray Rice	Director, president, chief compliance officer	1 Sep 1992	75% - 100%	810067
Gwendolyn Richards Rice	Director	1 Sep 1992	Other	4362085
Audrea Rice Trawick	Vice president, director of marketing	1 May 1998	Other	4070123
Andrew Donald Rice	Vice president, chief financial officer	1 Jan 2002	Other	4858372

Based in Birmingham

The principal office where Money Management Services, Inc. performs its advisory services is located at 2100 A Southbridge Parkway, Birmingham, AL 35209, 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 205-871-7526 or by fax 205-870-4878. The normal business hours are monday to thursday 9am to 5pm, friday 9am to 3pm on Monday - Friday. You can find more information about the New York firm at moneymanagementservice.com.