DFX Intelligence
RIA Intelligence
Registered investment advisers, the advisors registered through them, the capital they report, the private vehicles they run and the people who own them, as a graph with a filing date behind every number. RAUM is what the adviser filed, a move is two registration dates, and a class is a rule you can read.
SEC-registered adviser
Salem Investment Counselors Inc
Latest filing Mar 25, 2026
First filing on the tape Mar 28, 2012 · 19 filings
SEC status approved since Apr 2, 1979
RAUM
$4.2B
reported, Item 5.F
Discretionary
99%
of RAUM
Private clients
90%
$3.8B individuals and HNW
Advisors
13
registered through the firm on IAPD
RAUM per advisor
$322M
derived; firm RAUM over IAPD count
Employees
18
12 advisory (5.B.1)
Offices
1
beyond the principal office
Private funds
0
reported on Schedule D
History
19 filings and snapshots on the tape
RAUM$4.2B as of Mar 25, 2026
Mar 28, 2012$1.1B then
HNW client RAUM$3.6B as of Mar 25, 2026
Mar 29, 2018$1.4B then
State-registered IARs (5.B.3)11 as of Mar 25, 2026
Mar 28, 20120 then
Employees (5.A)18 as of Mar 25, 2026
Mar 18, 201312 then
Private funds: no history
RAUM +8.9% over the last fiscal year+12% a year over threeIARs 10 to 11
Practice profile
derived from the filing of Mar 25, 2026; every figure names its basis
Archetypes, each a printed rule
- Independent boutique · a wealth manager with no broker-dealer, bank or insurance affiliate, 2 to 25 advisors, one to three offices, no public reporting company control
- RAUM per advisor
- $322MderivedRAUM over IAPD advisors; not a book size
- Clients per advisor
- 100derivedindividual and HNW clients (5.D) over advisors
- Average HNW client
- $5.9MderivedHNW RAUM over HNW clients
- Average account
- $1.3MderivedRAUM over accounts (5.F.2.f)
- Discretionary
- 99%derivedof RAUM
- Institutional
- 7.2%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- 1.4derivedItem 5.A over advisors
- Advisors per office
- 6.5derived2 offices incl. principal (1.F.5)
- RAUM growth, one year
- +8.9%derivedbetween the last two annual amendments
- Advisor growth, one year
- +10%derivedItem 5.B.3 between annual amendments
- Client growth, one year
- +2.1%derived
- Compensation
- percentage of assets, hourly, fixed feesreportedItem 5.E
- Advisory activities
- financial planning, portfolio management for individuals, portfolio management for businesses and institutionsreportedItem 5.G
- Ownership
- no PE, bank or public-company owner found on Schedule Aderived
- Advisor book size
- not public; not estimatedreported
Also answered yes on Form ADV
- buys or sells securities as principal to or from clients (8.A.2)
- has discretionary authority over which securities are bought or sold (8.C.1)
- receives research or other products from a broker-dealer, soft dollars (8.E)
- compensates persons for client referrals (8.G.1)
- compensates non-employees for client referrals (8.G.2)
- has custody of client securities (9.A.1.b)
- a related person has custody of client securities (9.B.1.b)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- High-net-worth individuals$3.6B85%
- Charitable organizations$282M6.7%
- Individuals$216M5.2%
- Corporations and businesses$100M2.4%
- Pension and profit-sharing plans$20.2M0.5%
- Individual clients
- 693reported
- HNW clients
- 601reported
- Pension plan clients
- 3reported
- Charitable clients
- 41reported
- Accounts
- 3,120reported
- Financial planning clients
- 251-500reported
- Wrap fee programs
- noreported
- Custody of client assets
- noreported
- Compensation
- % of AUM, fixed, hourlyreported
- Class basis
- private_client_share=0.9 fund_share=0.0 institutional_share=0.07 related_bd=false related_bank=false bd_reps=0.0derived
Advisors registered through the firm
13 on IAPD today, longest tenure first
| Name | Branch | Here since | In industry | Prior firms |
|---|---|---|---|---|
| William Robert Watson | Winston-Salem, Nc | May 17, 1994 | 44 y | 0 |
| Jeffrey Claude Howard | Winston-Salem, Nc | Sep 5, 1997 | 30 y | 0 |
| Dale Martin Brown | Winston-Salem, Nc | Dec 31, 2000 | 38 y | 0 |
| Robert Thompson Beach | Winston-Salem, Nc | Dec 31, 2000 | 41 y | 0 |
| Kenneth Scott Jones | Winston-Salem, Nc | Dec 31, 2000 | 28 y | 0 |
| David Brian Rea | Winston-Salem, Nc | Dec 31, 2000 | 44 y | 0 |
| Jesse Franklin Goins | Winston Salem, Nc | Aug 15, 2007 | 37 y | 2 |
| Kristopher Shea Abernethy | Winston Salem, Nc | Oct 19, 2022 | 21 y | 5 |
| James Joyner EdmundsonChartered Financial Analyst | Winston Salem, Nc | Nov 14, 2022 | 27 y | 1 |
| Joseph Kyle MccaffreyChartered Financial Analyst | Winston Salem, Nc | Nov 18, 2022 | 11 y | 0 |
| Matthew Stephen SimmonsChartered Financial Analyst | Winston Salem, Nc | Nov 18, 2022 | 27 y | 4 |
| George Garfield Keener | Winston Salem, Nc | Jan 20, 2025 | 24 y | 0 |
| Andrew Douglas KalmanChartered Financial Analyst | Winston Salem, Nc | Jan 20, 2026 | 17 y | 1 |
Advisor movement
1 left, 1 joined in 12 months
net 0 in 12 months1 left in 90 days0 joined in 90 daysdeparture rate 7.7% of current headcount1 left over 36 months
Left, latest
- Cooper A Taylor to Sounding Line Wealth Management, LLCJul 22, 2026 · RIA to a state-registered adviser
Joined, latest
- Andrew Douglas Kalman from Vigilant Wealth ManagementJan 20, 2026 · Other
- Matthew Stephen Simmons from Truist Advisory Services, Inc.Nov 18, 2022 · Affiliated broker-dealer or bank to independent RIA
- James Joyner Edmundson from Banc Of America Investment Services, Inc.Nov 14, 2022 · Other
- Kristopher Shea Abernethy from Avid Wealth Management, LLCOct 19, 2022 · Other
- Jesse Franklin Goins from Thompson Davis Asset ManagementAug 15, 2007 · Other
Private funds
No private fund reported.
Owners and control persons
Schedule A and B, latest filing
- Martin Dale Brown · Board Chairmancontrolsince 01/2020 · owns 10% to 25%
- Scott Kenneth Jones · Vice Presidentcontrolsince 07/2010 · owns 10% to 25%
- Garfield George Keener · Vice Presidentcontrolsince 06/2007 · owns 10% to 25%
- Kyle Joseph Mccaffrey · Vice Presidentcontrolsince 01/2021 · owns 10% to 25%
- Brian David Rea · Presidentcontrolsince 01/2018 · owns 10% to 25%
- E. Lynwood III Williams · Vice Presidentcontrolsince 01/2026 · owns 10% to 25%
- Shea Kristopher Abernethy · Chief Compliance Officersince 10/2022 · owns less than 5%
Related persons
Schedule D 7.A
No related person reported.
Office movement
IAPD branch city; joins and departures in 12 months
| Office | Advisors | Joined | Left | Teams out | Forming |
|---|---|---|---|---|---|
| Winston Salem, Nc · principal | 7 | 1 | 1 | ||
| Winstonsalem, Nc | 6 | 0 | 0 |
Offices
Schedule D 1.F, the 25 largest
- Durham, NC2 employees
ADV anomalies
2 against comparable advisers; where to look, not conclusions
- control person changedChange between filings · filing Mar 25, 2026WILLIAMS, III, LYNWOOD, E. (VICE PRESIDENT) appeared on Schedule A between the filings of 2023-03-31 and 2026-03-25peers: independent wealth managers, $1B to $5B (1,362)
- compensation changedChange between filings · filing Mar 25, 2026hourly charges (Item 5.E.2): no on the filing of 2025-03-25, yes on the filing of 2026-03-25peers: independent wealth managers, $1B to $5B (1,362)
What changed
consecutive filings, newest first
- Accounts · 3,064 to 3,120Mar 25, 2025 to Mar 25, 2026
- Advisory employees · 11 to 12Mar 25, 2025 to Mar 25, 2026
- Charity clients · 17 to 41Mar 25, 2025 to Mar 25, 2026
- Corporate clients · 27 to 23Mar 25, 2025 to Mar 25, 2026
- HNW clients · 597 to 601Mar 25, 2025 to Mar 25, 2026
- Individual clients · 671 to 693Mar 25, 2025 to Mar 25, 2026
- Pension plan clients · 13 to 3Mar 25, 2025 to Mar 25, 2026
- Assets in custody · $2.5B to $3.7BMar 25, 2025 to Mar 25, 2026
- State-registered IARs · 10 to 11Mar 25, 2025 to Mar 25, 2026
- Discretionary RAUM · $3.8B to $4.1BMar 25, 2025 to Mar 25, 2026
- HNW RAUM · $3.2B to $3.6BMar 25, 2025 to Mar 25, 2026
- Individual RAUM · $245M to $216MMar 25, 2025 to Mar 25, 2026
- Non-discretionary RAUM · $43.7M to $43.6MMar 25, 2025 to Mar 25, 2026
- Pension RAUM · $38.4M to $20.2MMar 25, 2025 to Mar 25, 2026
- RAUM · $3.8B to $4.2BMar 25, 2025 to Mar 25, 2026
- Accounts · 2,879 to 3,064Mar 27, 2024 to Mar 25, 2025
- Advisory employees · 12 to 11Mar 27, 2024 to Mar 25, 2025
- Charity clients · 41 to 17Mar 27, 2024 to Mar 25, 2025
- Corporate clients · 28 to 27Mar 27, 2024 to Mar 25, 2025
- HNW clients · 449 to 597Mar 27, 2024 to Mar 25, 2025
- Individual clients · 495 to 671Mar 27, 2024 to Mar 25, 2025
- Pension plan clients · 2 to 13Mar 27, 2024 to Mar 25, 2025
- Assets in custody · $1.9B to $2.5BMar 27, 2024 to Mar 25, 2025
- Employees · 20 to 18Mar 27, 2024 to Mar 25, 2025
- Financial planning clients · More than 500 to 251-500Mar 27, 2024 to Mar 25, 2025
- State-registered IARs · 8 to 10Mar 27, 2024 to Mar 25, 2025
- Discretionary RAUM · $3.6B to $3.8BMar 27, 2024 to Mar 25, 2025
- HNW RAUM · $3.1B to $3.2BMar 27, 2024 to Mar 25, 2025
- Individual RAUM · $257M to $245MMar 27, 2024 to Mar 25, 2025
- Non-discretionary RAUM · $44.9M to $43.7MMar 27, 2024 to Mar 25, 2025
- Pension RAUM · $8.2M to $38.4MMar 27, 2024 to Mar 25, 2025
- RAUM · $3.6B to $3.8BMar 27, 2024 to Mar 25, 2025
- Accounts · 2,704 to 2,879Mar 31, 2023 to Mar 27, 2024
- Charity clients · 7 to 41Mar 31, 2023 to Mar 27, 2024
- Corporate clients · unset to 28.0Mar 31, 2023 to Mar 27, 2024
- HNW clients · 402 to 449Mar 31, 2023 to Mar 27, 2024
- Individual clients · 431 to 495Mar 31, 2023 to Mar 27, 2024
- Pension plan clients · unset to 2.0Mar 31, 2023 to Mar 27, 2024
- Assets in custody · $2.1B to $1.9BMar 31, 2023 to Mar 27, 2024
- Discretionary RAUM · $2.9B to $3.6BMar 31, 2023 to Mar 27, 2024
Signals
6 dated events
- Cooper A Taylor left Salem Investment Counselors Inc for Sounding Line Wealth Management, Llc (registered 2026-07-23)Jul 22, 2026 · Advisor changed firm · fact
- Irvin Mark Thompson (Vice President) no longer on Schedule A of Salem Investment Counselors Inc (listed 2023-03-31, absent 2024-03-27)Mar 27, 2024 · Control person left · inference
- Salem Investment Counselors Inc reported RAUM $3.5B, up 75% from $2.0B (2021-03-26 to 2022-03-30)Mar 30, 2022 · RAUM change · derived
- Claude Jeffrey Howard (Secretary/Treasurer) no longer on Schedule A of Salem Investment Counselors Inc (listed 2021-03-26, absent 2022-03-30)Mar 30, 2022 · Control person left · inference
- K Joseph Mccaffrey (Vice President) appeared on Schedule A of Salem Investment Counselors IncMar 26, 2021 · Control person joined · fact
- Robert William Watson (Vice President) no longer on Schedule A of Salem Investment Counselors Inc (listed 2018-03-29, absent 2019-03-27)Mar 27, 2019 · Control person left · inference
Across DFX
shared identifiers only, never a name match
No identifier-backed link to the venture, private equity, family office or sponsor graphs.
How to reach
public business contact points only, each with its source
- Business phone
- 984-219-2242reportedpublished by the firm, firm site, Sep 15, 2026
- Business phone
- 336-768-7230reportedpublished by the firm, firm site, Sep 15, 2026
- Firm profile
- linkedin.com/company/salem-investment-counselorsreportedpublic record, Form ADV, Sep 18, 2026
- Website
- SALEMINVESTMENT.COMreportedpublic record, Form ADV, Sep 18, 2026
- Principal office phone
- 336-768-7230reportedpublic record, Form ADV, Mar 25, 2026
- Contact form
- saleminvestment.com/contactreportedpublished by the firm, firm site, Sep 15, 2026
- Team page
- saleminvestment.com/our-teamreportedpublished by the firm, firm site, Sep 15, 2026
Provenance
- Form ADV
- SEC filing data 2011 to 2024 and the monthly roster 2025 onreportedadviserinfo.sec.gov
- Advisors
- IAPD individual compilation feed, dailyreportedadviserinfo.sec.gov
- Class
- Independent wealth managerderiveda rule over Items 5.D and 7.A
- RAUM per advisor
- $322Mderivedfirm RAUM over the IAPD count; not a book size
- Loaded
- Sep 14, 2026