State market data

Wealth management firms in Alabama

As of October 2, 2026, 159 wealth management firms, including broker-dealer firms, based in Alabama reported $106.6 billion in regulatory assets under management; the largest by assets was Waverly Advisors, LLC, with $29.9 billion.

Showing all wealth firms, including wirehouses and broker-dealer firms. Independent RIAs only

Wealth management firms: 159
SEC-registered: 64
State-registered: 95
Regulatory assets under management: $106.6 billion
Client accounts: 200,947
Median firm size: $58.4 million
Of which broker-dealer affiliated: 8, with $12.3 billion

Alabama has not adopted IAR continuing education. Status from NASAA's IAR CE map, checked October 5, 2026. IAR CE in Alabama.

Top firms in Alabama

Largest wealth firms by assets under management, including broker-dealer firms

Largest wealth firms by assets under management, including broker-dealer firms in Alabama, top 10
Rank	Firm	City	RAUM
1	Waverly Advisors, LLC	Birmingham	$29.9 billion
2	Aptus Capital Advisors, LLC	Fairhope	$14.1 billion
3	RFG Advisory, LLC	Vestavia Hills	$8.0 billion
4	Eversource Wealth Advisors, LLC	Birmingham	$5.1 billion
5	Stonex Advisors Inc. Broker-dealer affiliated: A wealth firm that is, or is part of, a broker-dealer or a bank: a wirehouse, a broker-dealer or its advisory arm, or a bank's. It appears in the all wealth firms view, not in the main lists of independent RIAs.	Birmingham	$5.1 billion
6	Keel Point, LLC Broker-dealer affiliated: A wealth firm that is, or is part of, a broker-dealer or a bank: a wirehouse, a broker-dealer or its advisory arm, or a bank's. It appears in the all wealth firms view, not in the main lists of independent RIAs.	Huntsville	$4.1 billion
7	The Welch Group, LLC	Birmingham	$3.7 billion
8	Oneascent Financial Services LLC	Birmingham	$3.5 billion
9	Leavell Investment Management, Inc.	Mobile	$3.4 billion
10	Mitchell, McLeod, Pugh & Williams, Inc.	Mobile	$2.7 billion

Top 100 in Alabama

Fastest-growing wealth firms over one year, including broker-dealer firms

Fastest-growing wealth firms over one year, including broker-dealer firms in Alabama, top 10
Rank	Firm	City	Growth	Starting value
1	Waverly Advisors, LLC	Birmingham	85.2%	$16.1 billion
2	RFG Advisory, LLC	Vestavia Hills	61.4%	$4.9 billion
3	Mainsail Asset Management, LLC	Birmingham	46.0%	$410.1 million
4	Aptus Capital Advisors, LLC	Fairhope	43.5%	$9.9 billion
5	Blalock Williams, LLC	Alexander City	37.7%	$176.2 million
6	Brown Financial Advisory	Fairhope	36.1%	$344.0 million
7	Oneascent Financial Services LLC	Birmingham	35.5%	$2.6 billion
8	Cloud Investments, LLC	Huntsville	34.8%	$299.8 million
9	BCR Wealth Strategies	Vestavia	30.6%	$404.5 million
10	Eversource Wealth Advisors, LLC	Birmingham	28.9%	$4.0 billion

Top 100 in Alabama

Fastest-growing wealth firms over three years, including broker-dealer firms

Fastest-growing wealth firms over three years, including broker-dealer firms in Alabama, top 10
Rank	Firm	City	Growth	Starting value
1	Oneascent Financial Services LLC	Birmingham	97.9%	$456.4 million
2	Waverly Advisors, LLC	Birmingham	72.9%	$5.8 billion
3	Aptus Capital Advisors, LLC	Fairhope	49.3%	$4.2 billion
4	Mayfair Advisory Group, LLC	Birmingham	42.2%	$280.5 million
5	Eversource Wealth Advisors, LLC	Birmingham	41.3%	$1.8 billion
6	RFG Advisory, LLC	Vestavia Hills	38.5%	$3.0 billion
7	Mainsail Asset Management, LLC	Birmingham	28.8%	$280.2 million
8	Stonex Advisors Inc. Broker-dealer affiliated: A wealth firm that is, or is part of, a broker-dealer or a bank: a wirehouse, a broker-dealer or its advisory arm, or a bank's. It appears in the all wealth firms view, not in the main lists of independent RIAs.	Birmingham	26.3%	$2.5 billion
9	Navigate Wealth Management, LLC	Birmingham	23.8%	$226.6 million
10	Brown Financial Advisory	Fairhope	23.1%	$251.1 million

Top 100 in Alabama

Fastest-growing wealth firms over five years, including broker-dealer firms

Fastest-growing wealth firms over five years, including broker-dealer firms in Alabama, top 10
Rank	Firm	City	Growth	Starting value
1	Oneascent Financial Services LLC	Birmingham	74.8%	$216.7 million
2	Eversource Wealth Advisors, LLC	Birmingham	70.4%	$355.1 million
3	Waverly Advisors, LLC	Birmingham	55.4%	$3.3 billion
4	Aptus Capital Advisors, LLC	Fairhope	41.5%	$2.5 billion
5	RFG Advisory, LLC	Vestavia Hills	35.2%	$1.8 billion
6	BMSS Wesson Wealth Solutions	Birmingham	30.1%	$188.9 million
7	Truewealth Advisors, LLC	Hoover	29.9%	$148.2 million
8	Mayfair Advisory Group, LLC	Birmingham	28.0%	$234.8 million
9	Mainsail Asset Management, LLC	Birmingham	21.4%	$227.2 million
10	Stonex Advisors Inc. Broker-dealer affiliated: A wealth firm that is, or is part of, a broker-dealer or a bank: a wirehouse, a broker-dealer or its advisory arm, or a bank's. It appears in the all wealth firms view, not in the main lists of independent RIAs.	Birmingham	19.6%	$2.1 billion

Top 100 in Alabama

Wealth firms with the biggest asset gains over one year, including broker-dealer firms

Wealth firms with the biggest asset gains over one year, including broker-dealer firms in Alabama, top 10
Rank	Firm	City	Increase
1	Waverly Advisors, LLC	Birmingham	$13.7 billion
2	Aptus Capital Advisors, LLC	Fairhope	$4.3 billion
3	RFG Advisory, LLC	Vestavia Hills	$3.0 billion
4	Eversource Wealth Advisors, LLC	Birmingham	$1.1 billion
5	Marble Wealth, LLC	Montgomery	$1.0 billion
6	Oneascent Financial Services LLC	Birmingham	$927.0 million
7	Oakworth Asset Management, LLC	Birmingham	$846.3 million
8	Keel Point, LLC Broker-dealer affiliated: A wealth firm that is, or is part of, a broker-dealer or a bank: a wirehouse, a broker-dealer or its advisory arm, or a bank's. It appears in the all wealth firms view, not in the main lists of independent RIAs.	Huntsville	$609.3 million
9	Stonex Advisors Inc. Broker-dealer affiliated: A wealth firm that is, or is part of, a broker-dealer or a bank: a wirehouse, a broker-dealer or its advisory arm, or a bank's. It appears in the all wealth firms view, not in the main lists of independent RIAs.	Birmingham	$577.6 million
10	The Welch Group, LLC	Birmingham	$470.4 million

Top 100 in Alabama

Wealth firms with the most clients, including broker-dealer firms

Wealth firms with the most clients, including broker-dealer firms in Alabama, top 10
Rank	Firm	City	Most clients
1	RFG Advisory, LLC	Vestavia Hills	17,422
2	Waverly Advisors, LLC	Birmingham	13,758
3	Aptus Capital Advisors, LLC	Fairhope	12,740
4	Stonex Advisors Inc. Broker-dealer affiliated: A wealth firm that is, or is part of, a broker-dealer or a bank: a wirehouse, a broker-dealer or its advisory arm, or a bank's. It appears in the all wealth firms view, not in the main lists of independent RIAs.	Birmingham	9,895
5	Oneascent Financial Services LLC	Birmingham	5,294
6	Eversource Wealth Advisors, LLC	Birmingham	4,389
7	Lanark Financial, Inc. Broker-dealer affiliated: A wealth firm that is, or is part of, a broker-dealer or a bank: a wirehouse, a broker-dealer or its advisory arm, or a bank's. It appears in the all wealth firms view, not in the main lists of independent RIAs.	Birmingham	3,626
8	Leavell Investment Management, Inc.	Mobile	3,034
9	Tucker Financial Group	Montgomery	2,436
10	Keel Point, LLC Broker-dealer affiliated: A wealth firm that is, or is part of, a broker-dealer or a bank: a wirehouse, a broker-dealer or its advisory arm, or a bank's. It appears in the all wealth firms view, not in the main lists of independent RIAs.	Huntsville	1,613

Top 100 in Alabama

Wealth firms with the fastest client growth over one year, including broker-dealer firms

Wealth firms with the fastest client growth over one year, including broker-dealer firms in Alabama, top 10
Rank	Firm	City	Growth	Starting value
1	Cloud Investments, LLC	Huntsville	122.6%	447
2	Park Place Capital Corporation Broker-dealer affiliated: A wealth firm that is, or is part of, a broker-dealer or a bank: a wirehouse, a broker-dealer or its advisory arm, or a bank's. It appears in the all wealth firms view, not in the main lists of independent RIAs.	Homewood	46.6%	416
3	Blalock Williams, LLC	Alexander City	40.5%	195
4	RFG Advisory, LLC	Vestavia Hills	36.5%	12,760
5	Aptus Capital Advisors, LLC	Fairhope	35.7%	9,387
6	Waverly Advisors, LLC	Birmingham	35.5%	10,154
7	Williams Financial Group	Mobile	26.3%	521
8	Oneascent Financial Services LLC	Birmingham	26.0%	4,203
9	Tucker Financial Group	Montgomery	22.9%	1,982
10	Mainsail Asset Management, LLC	Birmingham	22.9%	153

Top 100 in Alabama

Wealth firms with the most accounts, including broker-dealer firms

Wealth firms with the most accounts, including broker-dealer firms in Alabama, top 10
Rank	Firm	City	Most accounts
1	Waverly Advisors, LLC	Birmingham	35,709
2	RFG Advisory, LLC	Vestavia Hills	29,833
3	Oneascent Financial Services LLC	Birmingham	16,009
4	Stonex Advisors Inc. Broker-dealer affiliated: A wealth firm that is, or is part of, a broker-dealer or a bank: a wirehouse, a broker-dealer or its advisory arm, or a bank's. It appears in the all wealth firms view, not in the main lists of independent RIAs.	Birmingham	15,487
5	Eversource Wealth Advisors, LLC	Birmingham	13,689
6	Aptus Capital Advisors, LLC	Fairhope	12,707
7	Keel Point, LLC Broker-dealer affiliated: A wealth firm that is, or is part of, a broker-dealer or a bank: a wirehouse, a broker-dealer or its advisory arm, or a bank's. It appears in the all wealth firms view, not in the main lists of independent RIAs.	Huntsville	6,236
8	Lanark Financial, Inc. Broker-dealer affiliated: A wealth firm that is, or is part of, a broker-dealer or a bank: a wirehouse, a broker-dealer or its advisory arm, or a bank's. It appears in the all wealth firms view, not in the main lists of independent RIAs.	Birmingham	4,966
9	The Welch Group, LLC	Birmingham	4,528
10	Tucker Financial Group	Montgomery	3,950

Top 100 in Alabama

Wealth firms with the most advisory staff, including broker-dealer firms

Wealth firms with the most advisory staff, including broker-dealer firms in Alabama, top 10
Rank	Firm	City	Most advisory staff
1	Stonex Advisors Inc. Broker-dealer affiliated: A wealth firm that is, or is part of, a broker-dealer or a bank: a wirehouse, a broker-dealer or its advisory arm, or a bank's. It appears in the all wealth firms view, not in the main lists of independent RIAs.	Birmingham	220
2	Waverly Advisors, LLC	Birmingham	197
3	RFG Advisory, LLC	Vestavia Hills	178
4	Eversource Wealth Advisors, LLC	Birmingham	76
5	Oneascent Financial Services LLC	Birmingham	74
6	Lanark Financial, Inc. Broker-dealer affiliated: A wealth firm that is, or is part of, a broker-dealer or a bank: a wirehouse, a broker-dealer or its advisory arm, or a bank's. It appears in the all wealth firms view, not in the main lists of independent RIAs.	Birmingham	63
7	Keel Point, LLC Broker-dealer affiliated: A wealth firm that is, or is part of, a broker-dealer or a bank: a wirehouse, a broker-dealer or its advisory arm, or a bank's. It appears in the all wealth firms view, not in the main lists of independent RIAs.	Huntsville	54
8	The Welch Group, LLC	Birmingham	26
8	Aptus Capital Advisors, LLC	Fairhope	26
10	Leavell Investment Management, Inc.	Mobile	24

Top 100 in Alabama

Wealth firms with the most high net worth clients, including broker-dealer firms

Wealth firms with the most high net worth clients, including broker-dealer firms in Alabama, top 10
Rank	Firm	City	Most high net worth clients
1	Waverly Advisors, LLC	Birmingham	4,302
2	Aptus Capital Advisors, LLC	Fairhope	2,358
3	Eversource Wealth Advisors, LLC	Birmingham	1,540
4	RFG Advisory, LLC	Vestavia Hills	1,256
5	Stonex Advisors Inc. Broker-dealer affiliated: A wealth firm that is, or is part of, a broker-dealer or a bank: a wirehouse, a broker-dealer or its advisory arm, or a bank's. It appears in the all wealth firms view, not in the main lists of independent RIAs.	Birmingham	1,020
6	Keel Point, LLC Broker-dealer affiliated: A wealth firm that is, or is part of, a broker-dealer or a bank: a wirehouse, a broker-dealer or its advisory arm, or a bank's. It appears in the all wealth firms view, not in the main lists of independent RIAs.	Huntsville	846
7	Oneascent Financial Services LLC	Birmingham	804
8	The Welch Group, LLC	Birmingham	690
9	Leavell Investment Management, Inc.	Mobile	536
10	Mitchell, McLeod, Pugh & Williams, Inc.	Mobile	397

Top 100 in Alabama

Wealth firms with the most CFP professionals, including broker-dealer firms

Wealth firms with the most CFP professionals, including broker-dealer firms in Alabama, top 10
Rank	Firm	City	Most CFP professionals
1	Waverly Advisors, LLC	Birmingham	81
2	RFG Advisory, LLC	Vestavia Hills	60
3	Stonex Advisors Inc. Broker-dealer affiliated: A wealth firm that is, or is part of, a broker-dealer or a bank: a wirehouse, a broker-dealer or its advisory arm, or a bank's. It appears in the all wealth firms view, not in the main lists of independent RIAs.	Birmingham	30
4	Oneascent Financial Services LLC	Birmingham	27
5	The Welch Group, LLC	Birmingham	25
5	Eversource Wealth Advisors, LLC	Birmingham	25
7	Keel Point, LLC Broker-dealer affiliated: A wealth firm that is, or is part of, a broker-dealer or a bank: a wirehouse, a broker-dealer or its advisory arm, or a bank's. It appears in the all wealth firms view, not in the main lists of independent RIAs.	Huntsville	9
8	Oakworth Asset Management, LLC	Birmingham	8
9	Lanark Financial, Inc. Broker-dealer affiliated: A wealth firm that is, or is part of, a broker-dealer or a bank: a wirehouse, a broker-dealer or its advisory arm, or a bank's. It appears in the all wealth firms view, not in the main lists of independent RIAs.	Birmingham	6
9	Leavell Investment Management, Inc.	Mobile	6

Top 100 in Alabama

Newest wealth firms, including broker-dealer firms

Newest wealth firms, including broker-dealer firms in Alabama, top 10
Rank	Firm	City	Amount
1	Axient Investment Advisors LLC	Huntsville	$454.0 million
2	Naviant Partners, LLC	Fairhope	$177.3 million
3	Infinity Tax & Financial Planning	Huntsville	$100.0 million
4	Clark Planning & Investment Advisory	Birmingham	$10.7 million
5	Capstone Global Advisors, LLC	Wedowee	$9.7 million
6	Still Waters Investment Strategies LLC	Birmingham	$2.3 million
7	Retirement Plans, LLC	Auburn	$1.7 million
8	Legacy Capital Partners LLC	Birmingham	$920,000
9	Aston Sandel	Auburn	$579,985
10	Cork Tree Wealth Partners, LLC	Auburn	$0

Top 100 in Alabama

Over time

From the SEC's yearly files: SEC-registered wealth firms based in Alabama, from October 2018, each snapshot classed from its own Form ADV answers.

FirmsSEC-registered wealth firms, including broker-dealer firms. 9 snapshots, October 1, 2018 to October 2, 2026.

Data table

Firms
As of	Firms
October 1, 2018	46
October 1, 2019	47
October 1, 2020	49
October 4, 2021	54
October 3, 2022	54
October 5, 2023	55
October 1, 2024	57
September 2, 2025	57
October 2, 2026	64

Regulatory assets under managementSEC-registered wealth firms, including broker-dealer firms. 9 snapshots, October 1, 2018 to October 2, 2026.

Data table

Regulatory assets under management
As of	Regulatory assets under management
October 1, 2018	$28.1 billion
October 1, 2019	$28.5 billion
October 1, 2020	$27.2 billion
October 4, 2021	$41.1 billion
October 3, 2022	$56.8 billion
October 5, 2023	$54.8 billion
October 1, 2024	$62.5 billion
September 2, 2025	$75.7 billion
October 2, 2026	$104.2 billion

Client accountsSEC-registered wealth firms, including broker-dealer firms. 9 snapshots, October 1, 2018 to October 2, 2026.

Data table

Client accounts
As of	Client accounts
October 1, 2018	89,659
October 1, 2019	77,205
October 1, 2020	86,801
October 4, 2021	99,548
October 3, 2022	118,719
October 5, 2023	136,793
October 1, 2024	149,575
September 2, 2025	157,017
October 2, 2026	192,360

Median firm size (RAUM)SEC-registered wealth firms, including broker-dealer firms. 9 snapshots, October 1, 2018 to October 2, 2026.

Data table

Median firm size (RAUM)
As of	Median firm size (RAUM)
October 1, 2018	$279.7 million
October 1, 2019	$279.5 million
October 1, 2020	$261.2 million
October 4, 2021	$268.0 million
October 3, 2022	$330.4 million
October 5, 2023	$323.9 million
October 1, 2024	$354.0 million
September 2, 2025	$394.1 million
October 2, 2026	$443.1 million

The market in Alabama now

Headline figures

Headline figures, as of October 2, 2026
Measure	All wealth firms	SEC-registered	State-registered
Firms	159	64	95
Regulatory assets under management	$106.6 billion	$104.2 billion	$2.4 billion
Accounts	200,947	192,360	8,587
Clients	102,433	96,838	5,595
Employees	2,088	1,936	152
Advisory employees	1,340	1,217	123
Investment adviser representatives	1,440	1,306	134
Median RAUM	$58.4 million	$443.1 million	$20.7 million
Average RAUM	$735.0 million	$1.7 billion	$29.2 million

Firms by size

Advisers grouped by regulatory assets under management.

Firms by size, as of October 2, 2026
Measure	All wealth firms	SEC-registered	State-registered
Firms under $100 million	82	1	81
RAUM of firms under $100 million	$2.2 billion	$28,974	$2.2 billion
Firms $100 million to $250 million	17	15	2
RAUM of firms $100 million to $250 million	$2.8 billion	$2.6 billion	$208.7 million
Firms $250 million to $500 million	20	20	0
RAUM of firms $250 million to $500 million	$7.5 billion	$7.5 billion	$0
Firms $500 million to $1 billion	12	12	0
RAUM of firms $500 million to $1 billion	$8.6 billion	$8.6 billion	$0
Firms $1 billion to $5 billion	9	9	0
RAUM of firms $1 billion to $5 billion	$23.2 billion	$23.2 billion	$0
Firms $5 billion to $10 billion	3	3	0
RAUM of firms $5 billion to $10 billion	$18.2 billion	$18.2 billion	$0
Firms $10 billion and up	2	2	0
RAUM of firms $10 billion and up	$44.0 billion	$44.0 billion	$0

Concentration

How much of the market the largest advisers hold.

Concentration: all wealth firmsAs of October 2, 2026.
Measure	Bar	Value
Top 10 share of RAUM		74.6%
Top 100 share of RAUM		99.6%

Concentration, as of October 2, 2026
Measure	All wealth firms	SEC-registered	State-registered
Top 10 share of RAUM	74.6%	76.4%	34.6%
Top 100 share of RAUM	99.6%	No data	No data

How advisers are paid

Share of advisers reporting each form of compensation on Form ADV Item 5.E. A firm can report several.

How advisers are paid: all wealth firmsAs of October 2, 2026.
Measure	Bar	Value
Charge a percentage of assets		96.9%
Charge hourly fees		56.0%
Charge subscription fees		1.3%
Charge fixed fees		61.6%
Receive commissions		1.3%
Charge performance-based fees		4.4%
Other compensation		5.0%

How advisers are paid, as of October 2, 2026
Measure	All wealth firms	SEC-registered	State-registered
Charge a percentage of assets	96.9%	98.4%	95.8%
Charge hourly fees	56.0%	59.4%	53.7%
Charge subscription fees	1.3%	0.0%	2.1%
Charge fixed fees	61.6%	75.0%	52.6%
Receive commissions	1.3%	1.6%	1.1%
Charge performance-based fees	4.4%	4.7%	4.2%
Other compensation	5.0%	1.6%	7.4%

Custody

Advisers reporting custody of client cash or securities on Form ADV Item 9.

Custody, as of October 2, 2026
Measure	All wealth firms	SEC-registered	State-registered
Have custody	30.8%	60.9%	10.5%

Broker-dealer and other affiliations

From Form ADV Items 6 and 7.

Broker-dealer and other affiliations, as of October 2, 2026
Measure	All wealth firms	SEC-registered	State-registered
Broker-dealer affiliated	4.4%	9.4%	1.1%

New firms and successions

New registrations and firms reporting that they succeeded to another adviser's business (Form ADV Item 4).

New firms and successions, as of October 2, 2026
Measure	All wealth firms	SEC-registered	State-registered
New registrations	17	5	12
Successions	No data	0	No data

Other measures

Other measures, as of October 2, 2026
Measure	All wealth firms	SEC-registered	State-registered
Firms reporting RAUM	145	62	83
Discretionary RAUM	$94.7 billion	$92.6 billion	$2.1 billion
CFP professionals	405	371	34
25th percentile RAUM	$15.8 million	$246.1 million	$9.5 million
75th percentile RAUM	$404.0 million	$836.8 million	$44.0 million
90th percentile RAUM	$866.1 million	$3.7 billion	$67.9 million
Average account size	$530,385	$541,442	$282,677
Offer financial planning	75.5%	79.7%	72.6%
RAUM growth, one year	No data	37.6%	No data

As of October 2, 2026. Definitions of every measure are on the methodology page.

Cities

Birmingham 45 independent RIAs, $53.0 billion
Fairhope 11 independent RIAs, $15.4 billion
Vestavia Hills 5 independent RIAs, $8.9 billion
Mobile 12 independent RIAs, $7.3 billion
Montgomery 7 independent RIAs, $3.9 billion
Huntsville 18 independent RIAs, $1.5 billion
Hoover 6 independent RIAs, $960.5 million

Cities with at least five independent RIAs.

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.