South Atlantic Capital Management Group Inc. is an Independent Investment Advisor registered with the State of North Carolina and the Commonwealth of Virginia. The company acts only as a fee based investment advisor managing client accounts on a discretionary basis. The client may select Charles Schwab & Co. or another brokerage firm to effect transactions in the client's account. Our interests are aligned with our client's interests as the portfolio manager's assets are invested alongside the client's assets and our compensation structure is fee based rather than commission based.
Edward D. Nowell, President
Mr. Nowell is President and sole portfolio manager of South Atlantic Capital Management Group. Mr. Nowell has over thirty-nine years of experience in the finance industry. Prior to founding South Atlantic Capital in 1990, he worked in the structured finance department of Banker's Trust Company in New York as an Assistant Vice President. His primary responsibility was arranging bank financing for leveraged buyouts led by companies such as Kohlberg Kravis Roberts & Company. During Graduate School, he interned with Merrill Lynch's Capital Markets Group in New York, NY. Later, he served as an institutional fixed income sales representative for Carolina Securities/Prudential Bache Securities and worked for Fox, Graham and Mintz, Securities. Mr. Nowell received a BS in Economics from the University of North Carolina at Chapel Hill and his MBA from the Darden School of Business at The University of Virginia.
Phillip A. Titzer, Chief Operating Officer & Compliance Officer
Mr. Titzer joined South Atlantic Capital in March 2020, bringing twenty-four years of investing and business operations experience to the firm. As a CFA® charterholder on the advisor’s investment committee, he adds additional valuation and investment management experience to the organization. Previously, Mr. Titzer was a portfolio manager and head of investment operations for The Edgar Lomax Company, a large-cap value equity manager in Alexandria, Virginia. There, he directed all research, trading and portfolio administration activities and, along with the firm’s founder, managed the Edgar Lomax Value Fund (a mutual fund that earned Morningstar’s highest rating of 5 Stars overall as of December 31, 2019) as well as high-net-worth and institutional separate accounts totaling approximately $1.6 billion. Prior to that, he was a nuclear-trained submarine officer in the U.S. Navy, serving on the U.S.S. Kentucky (SSBN 737) and, later, as a combat control test & evaluation officer for Naval Sea Systems Command. Mr. Titzer holds a B.S. in Mechanical Engineering from Rose-Hulman Institute of Technology and an M.B.A. in Finance from George Mason University.
Professional Service Providers
ACA Performance Services
South Atlantic Capital retains ACA Performance Services as our current independent third-party verifier for performance results. ACA Performance Services examines and monitors South Atlantic Capital’s policies and procedures and that they are designed to calculate and present performance results supporting overall principles of full and fair disclosure. South Atlantic Capital claims compliance with the Global Investment Performance Standards (GIPS®). GIPS® is the industry’s best practice used by investment advisors to calculate and present investment results. Ashland Partners & Co., LLP, our previous independent verifier, has verified South Atlantic Capital’s compliance on a firm-wide level for the period of January 1, 1992 to September 30, 2016. ACA Performance Services has verified our firm-wide compliance for the period of September 30, 2016 to December 31, 2019. South Atlantic Capital Management Group, Inc. maintains a complete list and description of composites, as well as GIPS® Reports, which are available upon request by emailing Info@SouthAtlanticCap.com or by calling (910) 763-4113.
South Atlantic Capital retains Foreside to provide compliance advisory services, policy and procedure development and risk analysis. Foreside works with us in a hands-on way to assist in all aspects of compliance including development of proper disclosure language, rules interpretations and application, policy and procedures development, books and records maintenance and requirements, and interacting with Federal and State regulators.
Advent Software, Inc.
South Atlantic Capital retains Advent Software, Inc. for fully integrated data aggregation, data management, and performance reporting for client accounts. Advent Software, Inc. provides a robust software platform to confidentially monitor and track trading, tax reporting and performance for client accounts with multiple custodians on a daily basis. Clients have access to custodial accounts at all times.
Charles Schwab & Co., Inc.
Charles Schwab & Co., Inc. has been selected as South Atlantic Capital’s primary custodian. Clients may select another brokerage firm to affect transactions in the client’s accounts.
South Atlantic Capital retains PSN to provide in-depth analytics, performance reporting and industry performance rankings. PSN is a global Investment Manager database of approximately 2,000 investment managers, representing more than 20,000 domestic and international investment products, and is a division of Informa Investment Solutions, Inc. (IIS).