SEC-registered wealth management firm Broker-dealer affiliated
Stephens
As of its Form ADV filed September 30, 2026, Stephens, an SEC-registered, broker-dealer affiliated wealth management firm in Little Rock, Arkansas, reported $18.0 billion in regulatory assets under management across 21,991 accounts, ranking #1 among all wealth firms in Arkansas by assets.
Registration
- Main office
- Little Rock, AR
- Registration
- SEC-registered, Approved
- CRD number
- 3496
- SEC file number
- 801-15510
- Registered since
- September 19, 1980
- Latest Form ADV filing
- September 30, 2026
- Legal name
- STEPHENS INC.
- Organized as
- Corporation
- Fiscal year ends
- December
- Other offices
- 20
Key figures
- Regulatory assets under management
- $18.0 billion
- Discretionary
- $13.8 billion (76.6%)
- Non-discretionary
- $4.2 billion
- Accounts
- 21,991 (12,927 discretionary)
- Clients
- 22,161, approximate as reported
- Employees
- 611
- Advisory staff
- 247 performing investment advisory functions
- Average account
- $820,556
- Asset growth, 1 year
- 15.6% (from $15.6 billion a year earlier)
- Asset growth, 3-year annual rate
- 10.7% (from $13.3 billion three years earlier)
- Asset growth, 5-year annual rate
- 5.1% (from $14.1 billion five years earlier)
- Client growth, 1 year
- 1.4% (from 21,852)
Broker-dealer affiliated. The firm is itself a broker-dealer as well as an investment adviser (Form ADV Item 6.A(1)). 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 | $3.1 billion |
| October 3, 2011 | $3.4 billion |
| October 1, 2012 | $4.2 billion |
| October 1, 2013 | $5.2 billion |
| October 1, 2014 | $5.6 billion |
| October 1, 2015 | $7.0 billion |
| October 3, 2016 | $7.0 billion |
| October 2, 2017 | $10.1 billion |
| October 1, 2018 | $10.4 billion |
| October 1, 2019 | $10.9 billion |
| October 1, 2020 | $10.9 billion |
| October 4, 2021 | $14.1 billion |
| October 3, 2022 | $12.4 billion |
| October 5, 2023 | $13.3 billion |
| October 1, 2024 | $13.6 billion |
| September 2, 2025 | $15.6 billion |
| October 2, 2026 | $18.0 billion |
Clients and services
Client mix
| Measure | Bar | RAUM |
|---|---|---|
| High net worth individuals 3,088 clients | $10.1 billion | |
| Individuals (other than high net worth) 18,080 clients | $4.1 billion | |
| Other 338 clients | $2.4 billion | |
| Corporations or other businesses 188 clients | $620.7 million | |
| State or municipal government entities 11 clients | $361.9 million | |
| Pension and profit sharing plans 249 clients | $226.5 million | |
| Insurance companies 15 clients | $123.1 million | |
| Banking or thrift institutions fewer than 5 clients | $29.1 million | |
| Charitable organizations 21 clients | $17.6 million |
How the firm is paid
- A percentage of assets under management
- Hourly charges
- Fixed fees
- Commissions
- Performance-based 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
- Publication of periodicals or newsletters
- Educational seminars or workshops
Financial planning clients (Item 5.H): 1000.
Wrap fee program sponsor or portfolio manager: yes.
Other business, affiliations and custody
Other business activities (Item 6.A)
- Broker-dealer
- Registered municipal advisor
Financial industry affiliations (Item 7.A)
- Broker-dealer
- Other investment adviser
- Municipal advisor
- 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
- 243
- Also registered through a broker-dealer
- 243
- Employees who are IARs (Form ADV 5.B(3))
- 247
Designations held by the firm's IARs: CFA 18, CFP 9, ChFC 1.
Between 143 and 193 of the firm's 243 IARs are registered in jurisdictions that require IAR CE. The source counts registrations by jurisdiction, and many IARs are registered in more than one, so the exact number is not knowable from it. IAR CE requirements by state.
Counts only. AdvisorIQ does not list individual people.
Disclosures
On Form ADV Item 11 the firm answered yes to 5 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 Arkansas
| Firm | City | RAUM |
|---|---|---|
| Sowell Management | North Little Rock | $4.8 billion |
| Arvest Wealth Management | Lowell | $3.4 billion |
| Greenwood Gearhart, LLC | Fayetteville | $2.0 billion |
| Naviter Wealth, LLC | Little Rock | $1.9 billion |
| Stephens Group Asset Management, LLC | Little Rock | $1.7 billion |
The five wealth firms, broker-dealer affiliated firms included, nearest in regulatory assets with a main office in the same state.
Elsewhere
- Stephens on IAPD: Form ADV, brochures and disclosure detail.
- Firm website: stephens.com
- Wealth management firms in Arkansas
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.