Smith Shellnut Wilson provides financial planning, portfolio management for individuals and small businesses, portfolio management for institutions, selecting other managers, and security ratings or pricing. Financial planning was provided to 1–10 clients last fiscal year.
Smith Shellnut Wilson reports 380 clients. They include 175 individual clients, 66 high-net-worth individuals and 51 banking or thrift institutions. Of its assets, 20.9% ($1.45B across 829 accounts) are managed with discretion; $5.48B across 51 accounts are not. It advised 13 clients without assets under management last fiscal year.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 46% | 1% |
| High-net-worth individuals | 17% | 6% |
| Banking or thrift institutions | 13% | 79% |
| Pension and profit-sharing plans | 2% | <1% |
| Charitable organizations | 7% | 4% |
| Other client typesState or municipal government entities; Insurance companies; Corporations and other businesses | 14% | 10% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 175 | $86.4M | 1.2% | $494K |
| High-net-worth individuals | 66 | $386M | 5.6% | $5.86M |
| Banking or thrift institutions | 51 | $5.48B | 79.1% | $107M |
| Pension and profit-sharing plans | 9 | $27M | 0.4% | $3.01M |
| Charitable organizations | 25 | $269M | 3.9% | $10.8M |
| State or municipal government entities | 24 | $402M | 5.8% | $16.7M |
| Insurance companies | Fewer than 5 | $191M | 2.8% | $47.8M |
| Corporations and other businesses | 26 | $86.6M | 1.3% | $3.33M |
| Total | 380 | $6.92B | 100% | — |
- Clients
- 175
- Regulatory AUM
- $86.4M
- AUM share
- 1.2%
- Avg. per client
- $494K
- Clients
- 66
- Regulatory AUM
- $386M
- AUM share
- 5.6%
- Avg. per client
- $5.86M
- Clients
- 51
- Regulatory AUM
- $5.48B
- AUM share
- 79.1%
- Avg. per client
- $107M
- Clients
- 9
- Regulatory AUM
- $27M
- AUM share
- 0.4%
- Avg. per client
- $3.01M
- Clients
- 25
- Regulatory AUM
- $269M
- AUM share
- 3.9%
- Avg. per client
- $10.8M
- Clients
- 24
- Regulatory AUM
- $402M
- AUM share
- 5.8%
- Avg. per client
- $16.7M
- Clients
- Fewer than 5
- Regulatory AUM
- $191M
- AUM share
- 2.8%
- Avg. per client
- $47.8M
- Clients
- 26
- Regulatory AUM
- $86.6M
- AUM share
- 1.3%
- Avg. per client
- $3.33M
Total
- Clients
- 380
- Regulatory AUM
- $6.92B
- AUM share
- 100%
- Avg. per client
- —
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 13
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 1–10
Smith Shellnut Wilson is paid through a percentage of assets under management and fixed fees (other than subscription fees); its fees and minimums are set out in its brochures on the SEC website.
B1bank owns 75% or more of Smith Shellnut Wilson and is in turn owned by Business First Bancshares, Inc. (75% or more). The leadership team of Smith Shellnut Wilson includes Chief Compliance Officer Roseann Higgins. It has 16 employees, 14 of them in advisory roles.
Staff
- 16 employees
- 14 in advisory functions
- 12 state-registered reps
- 5 broker-dealer reps
- 1 soliciting firm
- Owns 75% or more of Smith Shellnut Wilson LLC
B1bank
Control person · since March 2021
- Owns 75% or more of B1bank
Business First Bancshares, Inc.
Control person · since March 2021
Smith Shellnut Wilson’s regulatory assets grew 1.8× from $3.91B (April 2021) to $6.92B (September 2026); clients fell from 419 to 380 and employees rose from 12 to 16.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | StaffEmployees | Offices |
|---|---|---|---|---|
| Sep 2026September 2026 | $6.92B | 380 | 16 | 6 |
| Jun 2025June 2025 | $8.02B | 384 | 17 | 8 |
| Jul 2024July 2024 | $7.23B | 395 | 16 | 2 |
| Apr 2023April 2023 | $7.76B | 390 | 15 | 1 |
| Jul 2022July 2022 | $6.15B | 341 | 13 | 2 |
| Apr 2021April 2021 | $3.91B | 419 | 12 | 2 |
Besides its headquarters, Smith Shellnut Wilson has 5 offices (5 private residences, listed without an address), with 1 listed address in 1 state.
Mississippi · 1 listed address
- 661 Sunnybrook Road, Suite 130, RidgelandHQ
Contact and registration details
- Legal name
- Smith Shellnut Wilson LLC
- Headquarters
- 661 Sunnybrook Road, Suite 130, Ridgeland, MS 39157
- Website
- Not reported
- Phone
- 601-605-1776
- @smith-shellnut-wilson-llc
- SEC file
- 801-49071
- Structure
- Mississippi LLC
- Fiscal year end
- December
Smith Shellnut Wilson’s named custodians for separately managed accounts are FNBB Capital Markets ($2.35B, 45%), Fidelity ($1.6B, 31%) and First Horizon Bank ($1.28B, 24%). Smith Shellnut Wilson has custody of $517M for 129 clients.
- FidelityFidelity Brokerage Services LLC · Cincinnatti, OH · $1.6B31%
- FNBB Capital MarketsFNBB Capital Markets · Baton Rouge, LA · $2.35B45%
- First Horizon BankFirst Horizon Bank · Memphis, TN · $1.28B24%
At year end, Smith Shellnut Wilson’s separately managed accounts were mostly in bonds (92%). Its reported 13F holdings for the quarter ended 30 June 2026 total $268M across 161 positions; the largest are iShares TR (8.6%), iShares TR (5.9%) and Invesco Qqq TR (5.9%).
What the accounts hold
- Stocks2%
- Funds6%
- Bonds92%
- U.S. government and agency bonds51%
- State and local bonds37%
- Investment grade corporate bonds4%
- Cash2%
How many clients does Smith Shellnut Wilson have?
Smith Shellnut Wilson has 380 clients and manages $6.92 billion for them, as of September 2026. They include 175 individual clients, 66 high-net-worth individuals and 51 banking or thrift institutions.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 9 September 2026
What services does Smith Shellnut Wilson offer?
Smith Shellnut Wilson provides financial planning, portfolio management for individuals and small businesses, portfolio management for institutions, selecting other managers, and security ratings or pricing.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
Which custodians does Smith Shellnut Wilson use?
Smith Shellnut Wilson’s separately managed account assets are held at FNBB Capital Markets (Baton Rouge, LA), with $2.35B, Fidelity Brokerage Services LLC (Cincinnatti, OH), with $1.6B and First Horizon Bank (Memphis, TN), with $1.28B. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 9 September 2026
How many financial advisors does Smith Shellnut Wilson have?
Smith Shellnut Wilson has 12 investment adviser representatives registered with state securities authorities, out of 16 employees, and 14 perform investment advisory functions. 5 employees are registered representatives of a broker-dealer and 0 employees are 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 Smith Shellnut Wilson invest in?
At the end of its last fiscal year, Smith Shellnut Wilson’s separately managed accounts held 51% U.S. government and agency bonds, 37% state and local bonds, 6% registered funds (mutual funds, ETFs, BDCs), 4% investment grade corporate bonds, 2% exchange-traded equities and 2% cash and equivalents.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Smith Shellnut Wilson?
Smith Shellnut Wilson is owned through a holding company by Business First Bancshares, Inc. Its direct owner is B1bank (75% or more).
Source: Form ADV Part 1A, Schedules A and B, filed 9 September 2026
How does Smith Shellnut Wilson get paid?
Smith Shellnut Wilson is paid through a percentage of assets under management 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 Smith Shellnut Wilson?
Smith Shellnut Wilson’s main office is at 661 Sunnybrook Road, Suite 130, Ridgeland, MS 39157. Its phone number is 601-605-1776.
