Wilbanks, Smith & Thomas Asset Management, Llc
- Regulatory AUM
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- Discretionary
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- Clients
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- Avg AUM / client
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- Accounts
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- Employees
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AUM over time
Annual snapshots from Form ADV filings · as of Mar 12, 2026
Private funds (3)
Reported in Form ADV Section 7.B.(1), filing of May 2024 · $22.0M combined gross assets
| Fund | Type | Domicile | Gross assets | Owners |
|---|---|---|---|---|
| Legacy Ssn Spv, Llc | Other Private Fund | Delaware | $15.2M | 56 |
| Wst Income Fund Ii, Llc | Other Private Fund | Delaware | $6.2M | 74 |
| Wst Income Fund I, Llc | Other Private Fund | Delaware | $671K | 64 |
Retirement plan clients
Plans that reported this firm as an investment service provider on Form 5500 Schedule C.
| Plan | Location | Plan year |
|---|---|---|
| Parker Oil Company, Inc. 401(k) Plan Parker Oil Company, Inc. | 2024 | |
| Emergency Physicians Of Tidewater, Plc 401(k) & Profit Sharing Plan Emergency Physicians Of Tidewater, P.L.C. | 2024 | |
| Berglund Management Group, Inc. 401(k) Plan Berglund Management Group, Inc. | 2024 | |
| Total Action Against Poverty In Roanoke Valley, Inc. Retirement And 401(k) Savings Plan Total Action Against Poverty In Roanoke Valley, Inc. | 2024 |
People (8)
| Name | Role / title | Credentials | With firm since | Ownership |
|---|---|---|---|---|
| Lawrence Albert Bernert | V.President/Principal/Portfolio Manager | CFA | Jan 1998 (29y) | Less than 5% |
| Wilbanks, Ashlin, Thomas | Member | Jan 2003 (24y) | ≈ 5% – 18.75% via Thomas Investment Properties, Llc | |
| David James Kyle Elliott | Principal/Portfolio Mgr. | CFP | Jan 2004 (23y) | Less than 5% |
| Mark Randall Warden | Principal/Portfolio Mgr. | Jan 2004 (23y) | Less than 5% | |
| Wayne Freeman Wilbanks | President/Managing Principal/Cio/Treasurer | CFA | Jan 2009 (18y) | ≈ 18.75% – 50% via Wilbanks Family, Llc |
| Roger Herman Scheffel | Principal/Portfolio Manager | Jan 2014 (13y) | Less than 5% | |
| Garber, Theresa, Ann | Chief Compliance Officer | Apr 2016 (10y) | Less than 5% | |
| Stephen James Bowery | Principal/Portfolio Manager | CFP CFA | Jan 2020 (7y) | Less than 5% |
Entity owners (Schedule A/B)
| Entity | Title / status | Since | Sch. | Ownership |
|---|---|---|---|---|
| Wilbanks Family, Llc | Member | Jan 2010 | A | 25% – 50% |
| Thomas Investment Properties, Llc | Member | Jan 2004 | A | 10% – 25% |
| Wilbanks, Smith & Thomas Asset Management, Inc. | Member | Sep 2000 | A | 10% – 25% |
Undisclosed: 0% – 55% of the firm is not attributable from the filed Schedule A bands.
Estimated effective ownership (look-through of filed bands):
- Wilbanks, Ashlin, Thomas: 50% – 75% of Thomas Investment Properties, Llc × 10% – 25% direct ≈ 5% – 18.75% of the firm
- Wayne Freeman Wilbanks: 75% – 100% of Wilbanks Family, Llc × 25% – 50% direct ≈ 18.75% – 50% of the firm
Roster from the IAPD representatives feed; ownership and acquisition dates from Form ADV Schedule A/B. "Since" is the earliest filed registration or acquisition date.
Private funds (3, $22.0M gross assets)
| Fund | Type | Gross assets | Min. investment | Owners |
|---|---|---|---|---|
| Legacy Ssn Spv, Llc | Other Private Fund | $15.2M | $7.6K | 56 |
| Wst Income Fund Ii, Llc | Other Private Fund | $6.2M | $50.0K | 74 |
| Wst Income Fund I, Llc | Other Private Fund | $671K | $50.0K | 64 |
From Form ADV Section 7.B private fund reporting.
Retirement plans served (4)
| Plan | Sponsor | Participants | Plan assets | As of |
|---|---|---|---|---|
| Parker Oil Company, Inc. 401(k) Plan | Parker Oil Company, Inc. | 230 | $13.2M | 01/01/2024 |
| Emergency Physicians Of Tidewater, Plc 401(k) & Profit Sharing Plan | Emergency Physicians Of Tidewater, P.L.C. | 228 | $141M | 01/01/2024 |
| Berglund Management Group, Inc. 401(k) Plan | Berglund Management Group, Inc. | 405 | $16.8M | 01/01/2024 |
| Total Action Against Poverty In Roanoke Valley, Inc. Retirement And 401(k) Savings Plan | Total Action Against Poverty In Roanoke Valley, Inc. | 242 | $6.1M | 01/01/2024 |
From Form 5500 service-provider disclosures.
Documents (1 archived)
| Form | Period | Size | |
|---|---|---|---|
| Form ADV (full filing) | 03/12/2026 | 537 KB | View · PDF · Source ↗ |
Archived copies of the firm's regulatory filings, versioned by content hash.
Disciplinary disclosures
No disciplinary events reported on the firm's latest Form ADV filing.
How they charge
Not reported.
Custody
Reported custodians
- Charles Schwab & Co. $3.3B (60% of AUM) Mar 2024
- Truist Investment Services, Inc. $760M (14% of AUM) Mar 2024
- Suntrust Investment Services, Inc. $527M (15% of AUM) Nov 2020
Amounts as reported in ADV Item 5.K.(3) (custodians holding 10%+ of SMA assets).
Firm reports it does not have custody of client funds or securities (Item 9.A).
Source
All data on this page comes from this firm's Form ADV filings, reproduced without modification. Latest filing: Mar 12, 2026.
View current Form ADV (SEC/IAPD) ↗