Traditional distribution level STATCOMs can regulate a feeder voltage profile through reactive power control. Advanced STATCOMs can additionally improve phase current and voltage balance by suppressing negative and zero sequence voltages. The phase current and voltage balancing process will frequently require the transfer of real power from heavily loaded to more lightly loaded phases. Current balancing improves voltage regulation for a three-phase system by eliminating the neutral conductor voltage drop. This paper demonstrates the current balancing and voltage regulation capabilities of advanced STATCOMS. Current balance improvement is demonstrated with shunt connected devices using only voltage measurements at the point of coupling.