Brokerage owner has funds in the sun.

• Position: People - Rodney Bowman

"I am a poster child for the Wilmington Chamber of Commerce," says the CEO of Coastal Capital Markets LLC. Five years ago, Rodney Bowman ditched his "corporate prison" and fled the cold winters of Detroit for sunnier shores.

Former chief operating officer of Olde Discount Stockbrokers Inc., Bowman, 42, formed Coastal in 1998 as a full-service discount brokerage. It now has $100 million under management and offices in Wilmington, Winston-Salem, Charlotte, Myrtle Beach, S.C., and Fort Myers, Fla. Coastal has 32 employees and had revenue of $3.25 million in 2002.

in addition to commission-based brokerage services for retail and institutional investors, Coastal has an investment advisory arm, which offers fee-based financial planning for individuals and businesses. It also trades futures and commodities.

What about that "discount"? "This business is not as labor-intensive as it used to be, thanks to technology. Those savings weren't being passed on to the customer. We do everything the big wire houses do, but for a lot less money," Bowman says. Coastal's minimum commission is $39 for a broker-assisted stock trade. Charles Schwab, known for its competitive commission rates, charges a minimum of $54.95.

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