# Willis Investment Counsel Inc

> Willis Investment Counsel Inc is an SEC-registered investment advisory firm in Gainesville, GA, registered since 1983, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated April 30, 2026.

- CRD: 111042
- Filed as: WILLIS INVESTMENT COUNSEL INC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Gainesville, GA
- Filing period: October 2026
- Form ADV filing dated: April 30, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/111042
- AdvisorCensus page: https://advisorcensus.com/firm/willis-investment-counsel-inc-gainesville-ga-111042

## Quick answers

**How is Willis Investment Counsel Inc compensated?**
On its Form ADV (Item 5.E, October 2026), Willis Investment Counsel Inc reports these compensation arrangements: a percentage of assets under its management; fixed fees (other than subscription fees); other. The amounts are in Item 5 of its Form ADV Part 2A brochure.

**Where is Willis Investment Counsel Inc located?**
Willis Investment Counsel Inc's principal office is in Gainesville, GA, according to its Form ADV.

**Is Willis Investment Counsel Inc registered with the SEC or a state?**
Willis Investment Counsel Inc is an SEC-registered investment advisory firm, registered since 1983. Status as filed: Approved. CRD 111042.

**How much does Willis Investment Counsel Inc manage?**
Willis Investment Counsel Inc reports $4,225,943,233 in regulatory assets under management in its Form ADV filing dated April 30, 2026 (100% discretionary).

**How have Willis Investment Counsel Inc's assets and staff changed since 2021?**
In the Form ADV data for Willis Investment Counsel Inc: Regulatory assets under management: $2,940,207,230 in the October 2021 data and $4,225,943,233 in the October 2026 data, up 44%. Total employees: 11 in October 2021 and 13 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Willis Investment Counsel Inc serve?**
By number of clients on Form ADV Item 5.D: high net worth individuals (129); individuals (other than high net worth individuals) (49); corporations or other businesses not listed above (23).

**Which custodians does Willis Investment Counsel Inc use?**
Willis Investment Counsel Inc's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Ascensus Broker Dealer Services, LLC and Pershing LLC as custodians holding 10% or more of its separately managed account assets.

**Does Willis Investment Counsel Inc report any disciplinary disclosures?**
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/111042

**What changed in Willis Investment Counsel Inc's recent Form ADV filings?**
In the May 2026 filing data: Updated its list of owners and control persons (Schedule A).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Fixed fees (other than subscription fees)
- Other

### Custodians (Schedule D, Section 5.K(3))
- Ascensus Broker Dealer Services, LLC
- Pershing LLC

Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.

### Regulatory assets under management (Item 5.F)
- Total: $4,225,943,233
- Discretionary: $4,225,943,233
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 49 | $17,174,043 |
| High net worth individuals | 129 | $497,616,166 |
| Banking or thrift institutions | 0 | $0 |
| Investment companies | 0 | $0 |
| Business development companies | 0 | $0 |
| Pooled investment vehicles (other than investment companies and business development companies) | 3 | $202,734,053 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 19 | $1,464,796,632 |
| Charitable organizations | 16 | $107,749,046 |
| State or municipal government entities (including government pension plans) | 0 | $0 |
| Other investment advisers | 0 | $0 |
| Insurance companies | 2 | $123,574,804 |
| Sovereign wealth funds and foreign official institutions | 0 | $0 |
| Corporations or other businesses not listed above | 23 | $1,812,298,489 |
| Other | 0 | $0 |

### Advisory services (Item 5.G)
- Financial planning services
- Portfolio management for individuals and/or small businesses
- Portfolio management for pooled investment vehicles (other than investment companies)
- Portfolio management for businesses (other than small businesses) or institutional clients
- Pension consulting services
- Selection of other advisers (including private fund managers)
- Publication of periodicals or newsletters
- Educational seminars/workshops

### Firm details
- Registered since: 1983 (43 years)
- Employees: 13 total, 8 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: FL, GA, LA, NC, NE, TN, TX
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- [wicinvest.com](https://wicinvest.com)

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $2,940,207,230 | 11 | April 28, 2021 |
| October 2022 | $3,610,051,787 | 11 | March 30, 2022 |
| October 2023 | $3,381,042,293 | 12 | September 12, 2023 |
| October 2024 | $3,451,539,792 | 11 | April 10, 2024 |
| October 2025 | $3,954,398,131 | 13 | April 28, 2025 |
| October 2026 | $4,225,943,233 | 13 | April 30, 2026 |

Regulatory assets under management: $2,940,207,230 in the October 2021 data and $4,225,943,233 in the October 2026 data, up 44%.
Total employees: 11 in October 2021 and 13 in October 2026.

## Changes in the filing (last 12 months)

### May 2026
- Updated its list of owners and control persons (Schedule A).

### April 2026
- Registered or notice-filed in FL, NE.
- Updated its list of owners and control persons (Schedule A).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Willis Investment Counsel Inc (CRD 111042): Form ADV filing data as of October 2026.