Derek Smith
Derek Smith is a registered investment advisor at Principal Securities, INC., based in Mooresville, NC, with 32 years of industry experience. Derek operates on a fee-only basis, meaning they do not earn commissions from product sales. Their practice areas include Investment Management. Their firm serves 48,723 clients with $15B in assets under management.
Compensation
Firm Size
Number of Clients
Average Client Portfolio
Assets Under Management
Fee Structure
Principal Securities offers investment management through third-party money managers. The fees you pay depend on the specific program you choose and the amount you invest.
Under the Investment Adviser arrangement, Principal Securities charges a separate advisory fee, which is negotiable but will not exceed the following:
SEI Investment Management Corporation (Managed Account Solutions):
- Up to 1.75% annually on assets up to $500,000
- Up to 1.20% annually on assets between $500,001 and $999,999
- Up to 1.10% annually on assets of $1 million and up
SEI Investment Management Corporation (Mutual Fund Model Program):
- Up to 1.75% annually on assets up to $500,000
- Up to 1.20% annually on assets between $500,001 and $999,999
- Up to 1.10% annually on assets between $1,000,000 and $2,000,000
- Up to 0.90% annually on assets of $2,000,001 and up
Fees are collected quarterly.
Under the Promoter arrangement, you don't pay Principal Securities any fees directly. The TPMM calculates and collects all fees and then pays a portion to Principal Securities as a promoter's fee, ranging from 0.07% to 1.5% of assets or up to 50% of the advisory fee.
Location
107 Kilson Dr, Ste 102, Mooresville, NC, 28117
Get directionsHistory
Regulatory History (2)
Customer Dispute
June 2009Customer Dispute
June 2006Other Business ActivitiesSells Insurance
Derek sells outside insurance with various carriers since 2010 and owns rental real estate since 2011. He also serves as Vice President and President of South Cove Homeowners' Association, dedicating minimal time to each of these activities.
Employment History
Current Registrations
Principal Securities, INC.
Principal Securities, INC.Broker
State Registrations6 states
You can work with an advisor not registered in your state. Most advisors can legally serve a small number of clients across state lines without registering.