Salem Investment Counselors provides financial planning, portfolio management for individuals and small businesses, and portfolio management for institutions. Financial planning was provided to 251–500 clients last fiscal year.
Salem Investment Counselors reports 1,361 clients. They include 693 individual clients, 601 high-net-worth individuals and 41 charitable organizations. Of its assets, 99.0% ($4.14B across 3,066 accounts) are managed with discretion; $43.6M across 54 accounts are not.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 51% | 5% |
| High-net-worth individuals | 44% | 85% |
| Pension and profit-sharing plans | <1% | <1% |
| Charitable organizations | 3% | 7% |
| Corporations and other businesses | 2% | 2% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 693 | $216M | 5.2% | $312K |
| High-net-worth individuals | 601 | $3.57B | 85.2% | $5.94M |
| Pension and profit-sharing plans | Fewer than 5 | $20.2M | 0.5% | $6.72M |
| Charitable organizations | 41 | $282M | 6.7% | $6.87M |
| Corporations and other businesses | 23 | $100M | 2.4% | $4.35M |
| Total | 1,361 | $4.19B | 100% | — |
- Clients
- 693
- Regulatory AUM
- $216M
- AUM share
- 5.2%
- Avg. per client
- $312K
- Clients
- 601
- Regulatory AUM
- $3.57B
- AUM share
- 85.2%
- Avg. per client
- $5.94M
- Clients
- Fewer than 5
- Regulatory AUM
- $20.2M
- AUM share
- 0.5%
- Avg. per client
- $6.72M
- Clients
- 41
- Regulatory AUM
- $282M
- AUM share
- 6.7%
- Avg. per client
- $6.87M
- Clients
- 23
- Regulatory AUM
- $100M
- AUM share
- 2.4%
- Avg. per client
- $4.35M
Total
- Clients
- 1,361
- Regulatory AUM
- $4.19B
- AUM share
- 100%
- Avg. per client
- —
- 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
- 251–500
Salem Investment Counselors charges 1.00% a year for its Normal fee for services. The whole portfolio is charged at the rate of its band. The fee is billed in arrears and is negotiable.
Fee details and sources
The leadership team of Salem Investment Counselors includes President Kenneth Jones and Chief Compliance Officer Kristopher Abernethy. It has 18 employees, 12 of them in advisory roles.
Leadership
- Kenneth JonesVice President
- George KeenerVice President
- Joseph McCaffreyVice President
- David ReaPresident
- Lynwood WilliamsVice President
- Kristopher AbernethyChief Compliance Officer
- Dale BrownBoard Chairman
Investment adviser representatives
13 representatives listed in the SEC register as of 9 October 2026.
- Kristopher Shea Abernethy
- Robert Thompson Beach
- Dale Martin Brown
- James Joyner Edmundson JR
- Jesse Franklin Goins III
- Jeffrey Claude Howard
- Kenneth Scott Jones
- Andrew Douglas Kalman
- George Garfield Keener IV
- Joseph Kyle McCaffrey
- David Brian Rea
- Matthew Stephen Simmons
- William Robert Watson
Staff
- 18 employees
- 12 in advisory functions
- 11 state-registered reps
- Owns 10% to 25% of Salem Investment Counselors Inc
David Rea
Control person · since January 2018
- Owns 10% to 25% of Salem Investment Counselors Inc
Dale Brown
Control person · since January 2020
- Owns 10% to 25% of Salem Investment Counselors Inc
George Keener
Control person · since June 2007
- Owns 10% to 25% of Salem Investment Counselors Inc
Kenneth Jones
Control person · since July 2010
- Owns 10% to 25% of Salem Investment Counselors Inc
Joseph McCaffrey
Control person · since January 2021
- Owns 10% to 25% of Salem Investment Counselors Inc
Lynwood Williams
Control person · since January 2026
Salem Investment Counselors’ regulatory assets grew 2.1× from $2B (March 2021) to $4.19B (March 2026); clients rose from 649 to 1,361 and employees from 16 to 18.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | StaffEmployees | Offices |
|---|---|---|---|---|
| Mar 2026March 2026 | $4.19B | 1,361 | 18 | 2 |
| Mar 2025March 2025 | $3.84B | 1,325 | 18 | 2 |
| Mar 2024March 2024 | $3.61B | 1,015 | 20 | 2 |
| Mar 2023March 2023 | $3B | 840 | 20 | 2 |
| Mar 2022March 2022 | $3.5B | 741 | 18 | 2 |
| Mar 2021March 2021 | $2B | 649 | 16 | 2 |
Besides its headquarters, Salem Investment Counselors has 1 office, with 2 listed addresses in 1 state.
North Carolina · 2 listed addresses
- 480 Shepherd Street, Winston SalemHQ
- 3333 Durham-Chapel Hill BLVD, Durham
Contact and registration details
- Legal name
- Salem Investment Counselors Inc
- Headquarters
- 480 Shepherd Street, Winston Salem, NC 27103
- Website
- saleminvestment.com
- Phone
- 336-768-7230
- @salem-investment-counselors
- SEC file
- 801-14487
- Founded
- 1979
- Structure
- North Carolina corporation
- Fiscal year end
- December
Salem Investment Counselors’ named custodian for separately managed accounts is Charles Schwab ($3.88B). Salem Investment Counselors has custody of $3.66B for 1,293 clients.
- Charles SchwabCharles Schwab & Co., Inc. · Orlando, FL · $3.88B100%
At year end, Salem Investment Counselors’ separately managed accounts were mostly in stocks (75%) and funds (13%). Its reported 13F holdings for the quarter ended 30 June 2026 total $4.03B across 1,244 positions; the largest are Lowes Cos Inc. (7.6%), Nvidia Corporation (6.8%) and Apple Inc. (6.7%).
What the accounts hold
- Stocks75%
- Funds13%
- Bonds10%
- State and local bonds7%
- U.S. government and agency bonds2%
- Investment grade corporate bonds1%
- Cash1%
- Other1%
- Other investments include venture capital/private equity funds that some of salem's clients participate in as limited partners.1%
Reported 13F holdings
- $4.03B
- Reported 13F value
- 1,244
- Positions
- 45.6%
- In the 10 largest
- +18.4%
- Value vs. prior quarter
- Lowes Cos Inc.7.6%
- Nvidia Corporation6.8%
- Apple Inc.6.7%
- Micron Technology Inc.5.1%
- Alphabet Inc. · Cap Stk CL C4.3%
- Advanced Micro Devices Inc.3.8%
- Microsoft Corp.3.7%
- Amazon Com Inc.2.9%
- Alphabet Inc. · Cap Stk CL A2.4%
- Eli Lilly & CO2.3%
Together, the ten largest are 45.6% of reported value.
How many clients does Salem Investment Counselors have?
Salem Investment Counselors has 1,361 clients and manages $4.19 billion for them, as of March 2026. They include 693 individual clients, 601 high-net-worth individuals and 41 charitable organizations.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 25 March 2026
What services does Salem Investment Counselors offer?
Salem Investment Counselors provides financial planning, portfolio management for individuals and small businesses, and portfolio management for institutions.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
How much does Salem Investment Counselors charge?
Salem Investment Counselors charges 1.00% a year for its Normal fee for services. The whole portfolio is charged at the rate of its band. The fee is billed in arrears and is negotiable.
Source: SALEM INVESTMENT COUNSELORS, INC., filed 25 March 2026
Which custodians does Salem Investment Counselors use?
Salem Investment Counselors’ separately managed account assets are held at Charles Schwab & Co., Inc. (Orlando, FL), with $3.88B. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 25 March 2026
How many financial advisors does Salem Investment Counselors have?
Salem Investment Counselors has 11 investment adviser representatives registered with state securities authorities, out of 18 employees, and 12 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 Salem Investment Counselors invest in?
At the end of its last fiscal year, Salem Investment Counselors’ separately managed accounts held 75% exchange-traded equities, 13% registered funds (mutual funds, ETFs, BDCs), 7% state and local bonds, 2% U.S. government and agency bonds, 1% investment grade corporate bonds, 1% cash and equivalents and 1% other. The 1% other category is described as: Other Investments Include Venture Capital/Private Equity Funds That Some of Salem'S Clients Participate in As Limited Partners.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Salem Investment Counselors?
Salem Investment Counselors’ direct owners are David Rea, Dale Brown, George Keener, Kenneth Jones, Joseph McCaffrey and Lynwood Williams, each holding 25% or less.
Source: Form ADV Part 1A, Schedules A and B, filed 25 March 2026
How does Salem Investment Counselors get paid?
Salem Investment Counselors is paid through a percentage of assets under management, hourly charges and fixed fees. 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 Salem Investment Counselors?
Salem Investment Counselors’ main office is at 480 Shepherd Street, Winston Salem, NC 27103. Its phone number is 336-768-7230. Its website is saleminvestment.com.