SEC-registered wealth management firm Broker-dealer affiliated
Richard Brothers, Financial Advisors
As of its Form ADV filed March 26, 2026, Richard Brothers, Financial Advisors, an SEC-registered, broker-dealer affiliated wealth management firm in South Portland, Maine, reported $180.6 million in regulatory assets under management across 433 accounts, ranking #20 among all wealth firms in Maine by assets.
Registration
- Main office
- South Portland, ME
- Registration
- SEC-registered, Approved
- CRD number
- 113826
- SEC file number
- 801-122718
- Registered since
- November 18, 2021
- Latest Form ADV filing
- March 26, 2026
- Legal name
- ALLEGIANCE FINANCIAL GROUP, INC.
- Organized as
- Corporation
- Fiscal year ends
- December
- Other offices
- 0
Key figures
- Regulatory assets under management
- $180.6 million
- Discretionary
- $174.5 million (96.6%)
- Non-discretionary
- $6.1 million
- Accounts
- 433 (407 discretionary)
- Clients
- 177, approximate as reported
- Employees
- 10
- Advisory staff
- 6 performing investment advisory functions
- Average account
- $417,176
- Asset growth, 1 year
- 23.8% (from $145.9 million a year earlier)
- Asset growth, 3-year annual rate
- 20.1% (from $104.3 million three years earlier)
- Asset growth, 5-year annual rate
- Not reported
- Client growth, 1 year
- -0.6% (from 178)
Broker-dealer affiliated. The firm is affiliated with a broker-dealer (Item 7.A(1)), at least half of its advisory staff are registered representatives of a broker-dealer (Item 5.B(2) against 5.B(1)), and its advisers manage less than $100 million each on average (5.F(2)(c) over 5.B(1)), the pattern of a broker-dealer's advisory arm rather than an adviser that owns a small broker-dealer. It is ranked among all wealth firms, the directory's view that includes wirehouses and broker-dealer firms, not in the main lists of independent RIAs. How firms are classed.
Growth rates come from the SEC's yearly snapshots and are left blank when the years are not comparable.
Rankings
Among all wealth firms, including wirehouses and broker-dealer firms.
Assets over time
Data table
| As of | RAUM |
|---|---|
| October 1, 2010 | $42.4 million |
| October 3, 2011 | $109.0 million |
| October 1, 2012 | $105.6 million |
| October 1, 2013 | $116.6 million |
| October 1, 2014 | $104.4 million |
| October 1, 2015 | $96.0 million |
| October 3, 2016 | $59.1 million |
| October 3, 2022 | $145.3 million |
| October 5, 2023 | $104.3 million |
| October 1, 2024 | $130.2 million |
| September 2, 2025 | $145.9 million |
| October 2, 2026 | $180.6 million |
Clients and services
Client mix
| Measure | Bar | RAUM |
|---|---|---|
| High net worth individuals 54 clients | $140.1 million | |
| Individuals (other than high net worth) 119 clients | $39.3 million | |
| Charitable organizations fewer than 5 clients | $1.2 million | |
| Corporations or other businesses fewer than 5 clients | $2,431 |
How the firm is paid
- A percentage of assets under management
- Hourly charges
- Fixed fees
Advisory services
- Financial planning
- Portfolio management for individuals or small businesses
- Portfolio management for businesses or institutional clients
- Pension consulting
- Selection of other advisers
- Other
Financial planning clients (Item 5.H): 101-250.
Wrap fee program sponsor or portfolio manager: no.
Other business, affiliations and custody
Other business activities (Item 6.A)
None reported.
Financial industry affiliations (Item 7.A)
- Broker-dealer
- Insurance company or agency
Custody (Item 9)
The firm reported no custody of client cash or securities.
Investment adviser representatives
- IARs registered with the firm
- 6
- Also registered through a broker-dealer
- 4
- Employees who are IARs (Form ADV 5.B(3))
- 6
Designations held by the firm's IARs: CFP 2.
0 of the firm's 6 IARs are registered in jurisdictions that require IAR CE. IAR CE requirements by state.
Counts only. AdvisorIQ does not list individual people.
Disclosures
On Form ADV Item 11 the firm answered yes to 0 disclosure questions. See the detail on IAPD.
Succession and acquired firms
On Form ADV Item 4 the firm did not report succeeding to another adviser's business.
Similar-sized firms in Maine
| Firm | City | RAUM |
|---|---|---|
| Abbington Investment Group, LLC | South Portland | $202.1 million |
| Clark & Stuart Inc | Portland | $195.6 million |
| J.M. Arbour, LLC | Gardiner | $183.2 million |
| Gilbert Capital Group | North Yarmouth | $158.1 million |
| Outfitter Financial | Brunswick | $157.7 million |
The five wealth firms, broker-dealer affiliated firms included, nearest in regulatory assets with a main office in the same state.
Elsewhere
- Richard Brothers, Financial Advisors on IAPD: Form ADV, brochures and disclosure detail.
- Firm website: www.richardbrothersfinancial.com
- Wealth management firms in Maine
Firm data as of October 2, 2026, from ia100226.zip. Figures are as the firm reported them; corrections are made on Form ADV and appear after the next monthly reload.
Data as of October 2, 2026, from Form ADV. Sources: SEC registered adviser data (ia100226.zip) and IAPD compilation reports. How the directory is built.