# Independent RIAs in Arkansas

As of October 2, 2026, 115 independent wealth management RIAs based in Arkansas reported $27.7 billion in regulatory assets under management; the largest by assets was Sowell Management, with $4.8 billion.

As of: 2026-10-02
Address: https://advisoriq.com/ria/states/arkansas/

## Facts

- state: Arkansas
- code: AR
- population: Independent wealth management RIAs: firms whose individual and high net worth clients hold at least half of their regulatory assets and that offer financial planning or portfolio management for individuals, leaving out broker-dealers, banks and their advisory arms. Asset managers, private fund managers and pension consultants are not in the directory.
- latest: independent: accounts: 61980, firms: 115, median_raum: 66014001.5, raum: 27722522812, advisory_employees: 407, avg_account: 447281.749144885, band_100m_250m: 17, band_100m_250m_raum: 2645978860, band_10b_plus: 0, band_10b_plus_raum: 0, band_1b_5b: 8, band_1b_5b_raum: 15044021061, band_250m_500m: 9, band_250m_500m_raum: 3376880020, band_500m_1b: 6, band_500m_1b_raum: 4552277727, band_5b_10b: 0, band_5b_10b_raum: 0, band_lt100m: 66, band_lt100m_raum: 2103365144, bd_affiliated_share: 0.0173913043478261, cfp_professionals: 96, clients: 27986, custody_share: 0.260869565217391, employees: 585, fee_aum_pct_share: 0.947826086956522, fee_commissions_share: 0.0173913043478261, fee_fixed_share: 0.495652173913044, fee_hourly_share: 0.478260869565217, fee_other_share: 0.0608695652173913, fee_performance_share: 0.0347826086956522, fee_subscription_share: 0.00869565217391304, financial_planning_share: 0.747826086956522, firms_with_raum: 106, iars: 442, mean_raum: 261533234.075472, new_firms: 10, p25_raum: 10445425, p75_raum: 204393324.25, p90_raum: 750368944, raum_discretionary: 26617194181, top100_share: 0.999952128743513, top10_share: 0.61250275861077, independent_sec: accounts: 50847, firms: 40, median_raum: 354541615, raum: 25416469764, advisory_employees: 288, avg_account: 499861.737447637, band_100m_250m: 15, band_100m_250m_raum: 2436109426, band_10b_plus: 0, band_10b_plus_raum: 0, band_1b_5b: 8, band_1b_5b_raum: 15044021061, band_250m_500m: 9, band_250m_500m_raum: 3376880020, band_500m_1b: 6, band_500m_1b_raum: 4552277727, band_5b_10b: 0, band_5b_10b_raum: 0, band_lt100m: 1, band_lt100m_raum: 7181530, bd_affiliated_share: 0.025, cfp_professionals: 73, clients: 21275, custody_share: 0.575, employees: 439, fee_aum_pct_share: 0.95, fee_commissions_share: 0.025, fee_fixed_share: 0.525, fee_hourly_share: 0.45, fee_other_share: 0.075, fee_performance_share: 0.075, fee_subscription_share: 0, financial_planning_share: 0.85, firms_with_raum: 39, iars: 319, mean_raum: 651704352.923077, new_firms: 2, p25_raum: 157525284.5, p75_raum: 916403301.5, p90_raum: 1553334298.8, raum_discretionary: 24484257953, raum_growth_1y: 0.225343406329533, successions: 0, top10_share: 0.668075537463142, state: accounts: 11133, firms: 75, median_raum: 21625034, raum: 2306053048, advisory_employees: 119, avg_account: 207136.714991467, band_100m_250m: 2, band_100m_250m_raum: 209869434, band_10b_plus: 0, band_10b_plus_raum: 0, band_1b_5b: 0, band_1b_5b_raum: 0, band_250m_500m: 0, band_250m_500m_raum: 0, band_500m_1b: 0, band_500m_1b_raum: 0, band_5b_10b: 0, band_5b_10b_raum: 0, band_lt100m: 65, band_lt100m_raum: 2096183614, bd_affiliated_share: 0.0133333333333333, cfp_professionals: 23, clients: 6711, custody_share: 0.0933333333333333, employees: 146, fee_aum_pct_share: 0.946666666666667, fee_commissions_share: 0.0133333333333333, fee_fixed_share: 0.48, fee_hourly_share: 0.493333333333333, fee_other_share: 0.0533333333333333, fee_performance_share: 0.0133333333333333, fee_subscription_share: 0.0133333333333333, financial_planning_share: 0.693333333333333, firms_with_raum: 67, iars: 123, mean_raum: 34418702.2089552, new_firms: 8, p25_raum: 4619731, p75_raum: 57435561, p90_raum: 83342424.4, raum_discretionary: 2132936228, top10_share: 0.396016404649508
- broker_dealer_affiliated_not_included: firms: 8, raum: 21993968458
- series: firms: segment: independent_sec, unit: count, points: as_of: 2018-10-01, value: 18; as_of: 2019-10-01, value: 19; as_of: 2020-10-01, value: 25; as_of: 2021-10-04, value: 24; as_of: 2022-10-03, value: 26; as_of: 2023-10-05, value: 32; as_of: 2024-10-01, value: 36; as_of: 2025-09-02, value: 37; as_of: 2026-10-02, value: 40, raum: segment: independent_sec, unit: usd, points: as_of: 2018-10-01, value: 6611860660; as_of: 2019-10-01, value: 8062024294; as_of: 2020-10-01, value: 10785984311; as_of: 2021-10-04, value: 11934237885; as_of: 2022-10-03, value: 13586475207; as_of: 2023-10-05, value: 14548995764; as_of: 2024-10-01, value: 17685039753; as_of: 2025-09-02, value: 20742323852; as_of: 2026-10-02, value: 25416469764, accounts: segment: independent_sec, unit: count, points: as_of: 2018-10-01, value: 21087; as_of: 2019-10-01, value: 30801; as_of: 2020-10-01, value: 38724; as_of: 2021-10-04, value: 32529; as_of: 2022-10-03, value: 31018; as_of: 2023-10-05, value: 37238; as_of: 2024-10-01, value: 41546; as_of: 2025-09-02, value: 43099; as_of: 2026-10-02, value: 50847, median_raum: segment: independent_sec, unit: usd, points: as_of: 2018-10-01, value: 293006440; as_of: 2019-10-01, value: 308993999; as_of: 2020-10-01, value: 324074291.5; as_of: 2021-10-04, value: 339138219; as_of: 2022-10-03, value: 380794018; as_of: 2023-10-05, value: 271279808; as_of: 2024-10-01, value: 286602838; as_of: 2025-09-02, value: 286879420.5; as_of: 2026-10-02, value: 354541615
- top_10: largest: rank: 1, crd: 127145, firm: Sowell Management, city: North Little Rock, value: 4808161332; rank: 2, crd: 110379, firm: Greenwood Gearhart, LLC, city: Fayetteville, value: 1972258363; rank: 3, crd: 311508, firm: Naviter Wealth, LLC, city: Little Rock, value: 1872199000; rank: 4, crd: 288981, firm: Stephens Group Asset Management, LLC, city: Little Rock, value: 1703054534; rank: 5, crd: 291960, firm: Legacy Capital Wealth Partners, LLC, city: Little Rock, value: 1515904240; rank: 6, crd: 116359, firm: Foundation Resource Management, Inc., city: Little Rock, value: 1137777991; rank: 7, crd: 300557, firm: Bass and Bell, Inc., city: Little Rock, value: 1024897615; rank: 8, crd: 334458, firm: Lathrop Investment Management Company, city: Little Rock, value: 1009767986; rank: 9, crd: 104808, firm: The Arkansas Financial Group, Inc., city: Little Rock, value: 971140637; rank: 10, crd: 305850, firm: Hexagon Capital Partners, LLC, city: Rogers, value: 964960000, fastest-growing: rank: 1, crd: 129667, firm: Forest Hill Capital, LLC, city: Little Rock, value: 0.696358648671535; rank: 2, crd: 174101, firm: Brown Capital Management, LLC, city: Little Rock, value: 0.340134629386943; rank: 3, crd: 298195, firm: MACH-1 Financial Group, LLC, city: Rogers, value: 0.310531181446683; rank: 4, crd: 311508, firm: Naviter Wealth, LLC, city: Little Rock, value: 0.287467462710108; rank: 5, crd: 294277, firm: Family Legacy Planning, city: Bentonville, value: 0.247120038375992; rank: 6, crd: 116359, firm: Foundation Resource Management, Inc., city: Little Rock, value: 0.238904230186282; rank: 7, crd: 323414, firm: New Wave Wealth Advisors, city: Springdale, value: 0.227770904218664; rank: 8, crd: 166175, firm: Applied Capital LLC, city: Little Rock, value: 0.218513035382195; rank: 9, crd: 288981, firm: Stephens Group Asset Management, LLC, city: Little Rock, value: 0.208544346396805; rank: 10, crd: 110379, firm: Greenwood Gearhart, LLC, city: Fayetteville, value: 0.204690645702469, fastest-growing-3-year: rank: 1, crd: 311508, firm: Naviter Wealth, LLC, city: Little Rock, value: 0.335547197317772; rank: 2, crd: 110379, firm: Greenwood Gearhart, LLC, city: Fayetteville, value: 0.309752688553026; rank: 3, crd: 323414, firm: New Wave Wealth Advisors, city: Springdale, value: 0.299208292415904; rank: 4, crd: 298195, firm: MACH-1 Financial Group, LLC, city: Rogers, value: 0.263841642860514; rank: 5, crd: 319481, firm: Gutierrez Wealth Advisory, LLC, city: Little Rock, value: 0.253707697742697; rank: 6, crd: 127145, firm: Sowell Management, city: North Little Rock, value: 0.196197650668876; rank: 7, crd: 300557, firm: Bass and Bell, Inc., city: Little Rock, value: 0.195279738133125; rank: 8, crd: 288981, firm: Stephens Group Asset Management, LLC, city: Little Rock, value: 0.190856668699544; rank: 9, crd: 311919, firm: Mendel Capital Management, LLC, city: Little Rock, value: 0.160061428838156; rank: 10, crd: 166175, firm: Applied Capital LLC, city: Little Rock, value: 0.152097193279055, fastest-growing-5-year: rank: 1, crd: 311508, firm: Naviter Wealth, LLC, city: Little Rock, value: 0.291172902494374; rank: 2, crd: 110379, firm: Greenwood Gearhart, LLC, city: Fayetteville, value: 0.267187425876989; rank: 3, crd: 291960, firm: Legacy Capital Wealth Partners, LLC, city: Little Rock, value: 0.241277903201842; rank: 4, crd: 298195, firm: MACH-1 Financial Group, LLC, city: Rogers, value: 0.2362145859235; rank: 5, crd: 300557, firm: Bass and Bell, Inc., city: Little Rock, value: 0.160570078009522; rank: 6, crd: 116359, firm: Foundation Resource Management, Inc., city: Little Rock, value: 0.125007742125248; rank: 7, crd: 288981, firm: Stephens Group Asset Management, LLC, city: Little Rock, value: 0.119936664620776; rank: 8, crd: 305850, firm: Hexagon Capital Partners, LLC, city: Rogers, value: 0.100723358688181; rank: 9, crd: 108641, firm: Millennium Capital Advisors, LLC, city: Little Rock, value: 0.0982449975430648; rank: 10, crd: 117737, firm: Mustard Seed Wealth Management, city: Magnolia, value: 0.0953465032447147, biggest-asset-gains: rank: 1, crd: 335750, firm: TMB Capital Partners, LLC, city: Little Rock, value: 867846603; rank: 2, crd: 127145, firm: Sowell Management, city: North Little Rock, value: 577170395; rank: 3, crd: 311508, firm: Naviter Wealth, LLC, city: Little Rock, value: 418027105; rank: 4, crd: 110379, firm: Greenwood Gearhart, LLC, city: Fayetteville, value: 335109133; rank: 5, crd: 288981, firm: Stephens Group Asset Management, LLC, city: Little Rock, value: 293876179; rank: 6, crd: 116359, firm: Foundation Resource Management, Inc., city: Little Rock, value: 219403541; rank: 7, crd: 291960, firm: Legacy Capital Wealth Partners, LLC, city: Little Rock, value: 198091461; rank: 8, crd: 300557, firm: Bass and Bell, Inc., city: Little Rock, value: 150272479; rank: 9, crd: 298195, firm: MACH-1 Financial Group, LLC, city: Rogers, value: 129456898; rank: 10, crd: 104808, firm: The Arkansas Financial Group, Inc., city: Little Rock, value: 109752932, most-clients: rank: 1, crd: 127145, firm: Sowell Management, city: North Little Rock, value: 6624; rank: 2, crd: 298195, firm: MACH-1 Financial Group, LLC, city: Rogers, value: 1566; rank: 3, crd: 110379, firm: Greenwood Gearhart, LLC, city: Fayetteville, value: 1101; rank: 4, crd: 117737, firm: Mustard Seed Wealth Management, city: Magnolia, value: 758; rank: 5, crd: 342236, firm: Whiterock Wealth Design, LLC, city: Fayetteville, value: 739; rank: 6, crd: 166175, firm: Applied Capital LLC, city: Little Rock, value: 687; rank: 7, crd: 291960, firm: Legacy Capital Wealth Partners, LLC, city: Little Rock, value: 680; rank: 8, crd: 280033, firm: Aptus Financial, LLC, city: Little Rock, value: 634; rank: 9, crd: 136925, firm: Ifrah Financial Services, Inc., city: Little Rock, value: 598; rank: 10, crd: 324109, firm: Retirepath Wealth, LLC, city: Little Rock, value: 518, client-growth: rank: 1, crd: 136348, firm: Financial Legacy Management, NC., city: Little Rock, value: 0.506666666666667; rank: 2, crd: 305850, firm: Hexagon Capital Partners, LLC, city: Rogers, value: 0.39937106918239; rank: 3, crd: 292882, firm: Strongtower Wealth Management, PLC, city: Hot Springs, value: 0.217948717948718; rank: 4, crd: 298195, firm: MACH-1 Financial Group, LLC, city: Rogers, value: 0.211136890951276; rank: 5, crd: 300557, firm: Bass and Bell, Inc., city: Little Rock, value: 0.147692307692308; rank: 6, crd: 323414, firm: New Wave Wealth Advisors, city: Springdale, value: 0.124183006535948; rank: 7, crd: 280033, firm: Aptus Financial, LLC, city: Little Rock, value: 0.12212389380531; rank: 8, crd: 104730, firm: Corkern & Co., Inc., city: Little Rock, value: 0.118421052631579; rank: 9, crd: 291960, firm: Legacy Capital Wealth Partners, LLC, city: Little Rock, value: 0.116584564860427; rank: 10, crd: 325785, firm: Willow, city: Rogers, value: 0.111111111111111, most-accounts: rank: 1, crd: 127145, firm: Sowell Management, city: North Little Rock, value: 16763; rank: 2, crd: 298195, firm: MACH-1 Financial Group, LLC, city: Rogers, value: 3255; rank: 3, crd: 110379, firm: Greenwood Gearhart, LLC, city: Fayetteville, value: 3101; rank: 4, crd: 291960, firm: Legacy Capital Wealth Partners, LLC, city: Little Rock, value: 2626; rank: 5, crd: 166175, firm: Applied Capital LLC, city: Little Rock, value: 2200; rank: 6, crd: 342236, firm: Whiterock Wealth Design, LLC, city: Fayetteville, value: 1892; rank: 7, crd: 104808, firm: The Arkansas Financial Group, Inc., city: Little Rock, value: 1661; rank: 8, crd: 297785, firm: White McGowan, city: Little Rock, value: 1625; rank: 9, crd: 117737, firm: Mustard Seed Wealth Management, city: Magnolia, value: 1621; rank: 10, crd: 136925, firm: Ifrah Financial Services, Inc., city: Little Rock, value: 1432, most-advisory-staff: rank: 1, crd: 127145, firm: Sowell Management, city: North Little Rock, value: 94; rank: 2, crd: 291960, firm: Legacy Capital Wealth Partners, LLC, city: Little Rock, value: 17; rank: 3, crd: 110379, firm: Greenwood Gearhart, LLC, city: Fayetteville, value: 14; rank: 4, crd: 311508, firm: Naviter Wealth, LLC, city: Little Rock, value: 13; rank: 5, crd: 280033, firm: Aptus Financial, LLC, city: Little Rock, value: 11; rank: 6, crd: 117737, firm: Mustard Seed Wealth Management, city: Magnolia, value: 9; rank: 6, crd: 136925, firm: Ifrah Financial Services, Inc., city: Little Rock, value: 9; rank: 8, crd: 166175, firm: Applied Capital LLC, city: Little Rock, value: 8; rank: 8, crd: 298195, firm: MACH-1 Financial Group, LLC, city: Rogers, value: 8; rank: 10, crd: 342236, firm: Whiterock Wealth Design, LLC, city: Fayetteville, value: 7, most-hnw-clients: rank: 1, crd: 110379, firm: Greenwood Gearhart, LLC, city: Fayetteville, value: 483; rank: 2, crd: 127145, firm: Sowell Management, city: North Little Rock, value: 400; rank: 3, crd: 291960, firm: Legacy Capital Wealth Partners, LLC, city: Little Rock, value: 304; rank: 4, crd: 311508, firm: Naviter Wealth, LLC, city: Little Rock, value: 253; rank: 5, crd: 104808, firm: The Arkansas Financial Group, Inc., city: Little Rock, value: 248; rank: 6, crd: 300557, firm: Bass and Bell, Inc., city: Little Rock, value: 220; rank: 7, crd: 305850, firm: Hexagon Capital Partners, LLC, city: Rogers, value: 203; rank: 8, crd: 342236, firm: Whiterock Wealth Design, LLC, city: Fayetteville, value: 173; rank: 9, crd: 298195, firm: MACH-1 Financial Group, LLC, city: Rogers, value: 161; rank: 10, crd: 108576, firm: Lexington Research and Capital Group, LLC, city: Fayetteville, value: 160, most-cfp-professionals: rank: 1, crd: 127145, firm: Sowell Management, city: North Little Rock, value: 21; rank: 2, crd: 136925, firm: Ifrah Financial Services, Inc., city: Little Rock, value: 7; rank: 3, crd: 280033, firm: Aptus Financial, LLC, city: Little Rock, value: 6; rank: 4, crd: 104808, firm: The Arkansas Financial Group, Inc., city: Little Rock, value: 5; rank: 4, crd: 311508, firm: Naviter Wealth, LLC, city: Little Rock, value: 5; rank: 6, crd: 291960, firm: Legacy Capital Wealth Partners, LLC, city: Little Rock, value: 4; rank: 6, crd: 329595, firm: Rivertree Wealth, city: Little Rock, value: 4; rank: 8, crd: 110379, firm: Greenwood Gearhart, LLC, city: Fayetteville, value: 3; rank: 8, crd: 117737, firm: Mustard Seed Wealth Management, city: Magnolia, value: 3; rank: 8, crd: 298195, firm: MACH-1 Financial Group, LLC, city: Rogers, value: 3, newest: rank: 1, crd: 342236, firm: Whiterock Wealth Design, LLC, city: Fayetteville, value: 632891285; rank: 2, crd: 116183, firm: Hulsey Capital Management, Inc., city: Heber Springs, value: 113247895; rank: 3, crd: 339090, firm: Fountain Financial & Tax, city: Harrison, value: 12235803; rank: 4, crd: 339260, firm: FIVE8 Financial LLC, city: Rogers, value: 4689462; rank: 5, crd: 339554, firm: Crystal Oak Wealth Management, LLC, city: Rogers, value: 118916; rank: 6, crd: 333039, firm: Tekton Wealth Advisors, city: Lowell, value: 0; rank: 6, crd: 341056, firm: Ironclad Income Strategies LLC, city: Gravette, value: 0; rank: 6, crd: 341512, firm: Rainbrook Capital LLC, city: Little Rock, value: 0; rank: 6, crd: 341914, firm: Asheri Grove Financial Planning, city: Conway, value: 0; rank: 6, crd: 342078, firm: Reframe Wealth Strategies, city: Harrison, value: 0
- cities: name: Little Rock, independent_rias: 40, raum: 15020895656, url: https://advisoriq.com/ria/states/arkansas/little-rock/; name: North Little Rock, independent_rias: 6, raum: 5282332734, url: https://advisoriq.com/ria/states/arkansas/north-little-rock/; name: Fayetteville, independent_rias: 8, raum: 3016726271, url: https://advisoriq.com/ria/states/arkansas/fayetteville/; name: Rogers, independent_rias: 9, raum: 1715143673, url: https://advisoriq.com/ria/states/arkansas/rogers/; name: Bentonville, independent_rias: 8, raum: 334545620, url: https://advisoriq.com/ria/states/arkansas/bentonville/; name: Hot Springs, independent_rias: 5, raum: 277097447, url: https://advisoriq.com/ria/states/arkansas/hot-springs/
- iar_ce_status: in effect

## Notes

- Firms are placed in the state of their main office.
- History covers SEC-registered firms only, from October 2018.

## Sources

- SEC, Information About Registered Investment Advisers (ia100226.zip), checked 2026-10-07: https://www.sec.gov/files/investment/data/other/information-about-registered-investment-advisers-exempt-reporting-advisers/ia100226.zip
- IAPD compilation reports (IA_FIRM_STATE_Feed_10_07_2026.xml.gz), checked 2026-10-07: https://adviserinfo.sec.gov/compilation
- NASAA IAR CE map, checked 2026-10-05: https://www.nasaa.org/industry-resources/investment-advisers/investment-adviser-representative-continuing-education/iar-ce-map/

## Related

- [RIA market data by state](https://advisoriq.com/ria/states/)
- [Largest independent RIAs by assets under management in Arkansas](https://advisoriq.com/ria/rankings/largest/arkansas/)
- [Fastest-growing independent RIAs over one year in Arkansas](https://advisoriq.com/ria/rankings/fastest-growing/arkansas/)
- [Fastest-growing independent RIAs over three years in Arkansas](https://advisoriq.com/ria/rankings/fastest-growing-3-year/arkansas/)
- [Fastest-growing independent RIAs over five years in Arkansas](https://advisoriq.com/ria/rankings/fastest-growing-5-year/arkansas/)
- [IAR CE in Arkansas](https://advisoriq.com/ce/iar/arkansas/)

## Cite as

AdvisorIQ, as of 2026-10-02. https://advisoriq.com/ria/states/arkansas/

License: https://advisoriq.com/license/