Mercantile Advisors I provides portfolio management for individuals and small businesses, portfolio management for institutions, and publishing newsletters.
Mercantile Advisors I reports 71 clients. They include 42 individual clients, 28 high-net-worth individuals and 1 charitable organization. Of its assets, 100.0% ($146M across 71 accounts) are managed with discretion.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 59% | 23% |
| High-net-worth individuals | 39% | 75% |
| Charitable organizations | 1% | 3% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 42 | $32.9M | 22.5% | $783K |
| High-net-worth individuals | 28 | $109M | 74.8% | $3.9M |
| Charitable organizations | 1 | $3.87M | 2.6% | $3.87M |
| Total | 71 | $146M | 100% | $2.06M |
- Clients
- 42
- Regulatory AUM
- $32.9M
- AUM share
- 22.5%
- Avg. per client
- $783K
- Clients
- 28
- Regulatory AUM
- $109M
- AUM share
- 74.8%
- Avg. per client
- $3.9M
- Clients
- 1
- Regulatory AUM
- $3.87M
- AUM share
- 2.6%
- Avg. per client
- $3.87M
Total
- Clients
- 71
- Regulatory AUM
- $146M
- AUM share
- 100%
- Avg. per client
- $2.06M
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 0
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 0
Mercantile Advisors I charges 0.50%–1.00% a year for its Annual expense ratio. The fee is billed in advance and requires an account of at least $500,000.
Fee details and sources
Gloria Bohannon owns 75% or more of Mercantile Advisors I. It has 3 employees, 2 of them in advisory roles.
Staff
- 3 employees
- 2 in advisory functions
- 2 state-registered reps
- Owns 75% or more of Mercantile Advisors I, LLC
Gloria Bohannon
Control person · since October 2018
Mercantile Advisors I’s regulatory assets grew from $110M (March 2021) to $146M (April 2026); clients fell from 143 to 71 and employees were 3 in both filings.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | StaffEmployees | Offices |
|---|---|---|---|---|
| Apr 2026April 2026 | $146M | 71 | 3 | 1 |
| Apr 2025April 2025 | $130M | 73 | 3 | 1 |
| Mar 2024March 2024 | $114M | 76 | 3 | 1 |
| Feb 2023February 2023 | $106M | 68 | 3 | 1 |
| Mar 2022March 2022 | $122M | 88 | 3 | 1 |
| Mar 2021March 2021 | $110M | 143 | 3 | 1 |
Besides its headquarters, Mercantile Advisors I has 0 offices, with 1 listed address in 1 state.
Texas · 1 listed address
- 901 Indiana Ave, Suite 450, Wichita FallsHQ
Other business names
Mercantile Advisors I has reported 1 other business name to the SEC.
- Herbert R Smith & Company
Contact and registration details
- Legal name
- Mercantile Advisors I, LLC
- Headquarters
- 901 Indiana Ave, Suite 450, Wichita Falls, TX 76301
- Website
- Not reported
- Phone
- 940-723-5565
- SEC file
- 801-77019
- Structure
- Texas LLC
- Fiscal year end
- December
Mercantile Advisors I’s named custodian for separately managed accounts is Charles Schwab ($0). Mercantile Advisors I does not have custody of client assets.
The filed values do not form a complete breakdown. Values are shown as filed.
- Charles Schwab · Charles Schwab & Co Inc · Westlake, TX · $0
- 0%
At year end, Mercantile Advisors I’s separately managed accounts were largely in stocks (39%) and funds (36%).
What the accounts hold
- Stocks39%
- Funds36%
- Bonds9%
- State and local bonds4%
- Investment grade corporate bonds4%
- U.S. government and agency bonds1%
- Cash16%
How many clients does Mercantile Advisors I have?
Mercantile Advisors I has 71 clients and manages $146 million for them, as of April 2026. They include 42 individual clients, 28 high-net-worth individuals and 1 charitable organization.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 30 April 2026
What services does Mercantile Advisors I offer?
Mercantile Advisors I provides portfolio management for individuals and small businesses, portfolio management for institutions, and publishing newsletters.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
How much does Mercantile Advisors I charge?
Mercantile Advisors I charges 0.50%–1.00% a year for its Annual expense ratio. The fee is billed in advance and requires an account of at least $500,000.
Which custodians does Mercantile Advisors I use?
The filing also lists Charles Schwab & Co Inc with no separately managed account assets.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 30 April 2026
How many financial advisors does Mercantile Advisors I have?
Mercantile Advisors I has 2 investment adviser representatives registered with state securities authorities, out of 3 employees, and 2 perform investment advisory functions. None are registered representatives of a broker-dealer or licensed insurance agents.
Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file
What does Mercantile Advisors I invest in?
At the end of its last fiscal year, Mercantile Advisors I’s separately managed accounts held 39% exchange-traded equities, 36% registered funds (mutual funds, ETFs, BDCs), 16% cash and equivalents, 4% state and local bonds, 4% investment grade corporate bonds and 1% U.S. government and agency bonds.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Does Mercantile Advisors I have a minimum investment?
Yes, Mercantile Advisors I’s minimum account size for its Annual expense ratio is $500K.
Who owns Mercantile Advisors I?
Mercantile Advisors I’s direct owner is Gloria Bohannon (75% or more).
Source: Form ADV Part 1A, Schedules A and B, filed 30 April 2026
How does Mercantile Advisors I get paid?
Mercantile Advisors I is paid through a percentage of assets under management. Its Form ADV lists no commissions or performance-based fees among how it is paid.
Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file
How do I contact Mercantile Advisors I?
Mercantile Advisors I’s main office is at 901 Indiana Ave, Suite 450, Wichita Falls, TX 76301. Its phone number is 940-723-5565.