Top RIAs in Arkansas
Every SEC-registered RIA with a main office in Arkansas, by regulatory AUM, from Form ADV
57 RIAs registered with the SEC are headquartered in Arkansas, the 37th most of any state, managing $62.7B in regulatory assets as of Oct 2, 2026. The largest by regulatory AUM is Stephens in Little Rock at $18.0B. 12 firms report $1 billion or more.
Data as of Oct 2, 2026, file ia100226.zip. Retrieved Oct 14, 2026.
01 · The firms
Every SEC-registered RIA in Arkansas, by regulatory AUM
The default sort is regulatory assets under management as each firm filed it, which puts asset managers and wealth managers on one list. The toggle for firms where individuals and high-net-worth individuals hold the majority of assets is what separates them, using the firm's own Form ADV Item 5.D figures.
All 57 firms in the state, by regulatory AUM as filed. Fifty at a time; the rest expand below.
| # | Firm | City | Regulatory AUM | Advisory staff | Accounts | Individual + HNW clients | Retail share | Filed |
|---|---|---|---|---|---|---|---|---|
| 1 | StephensCRD 3496 | Little Rock | $18.0B | 247 | 21,991 | 21,168 | 79% | Sep 2026 |
| 2 | Stephens Investment Management Group, LLCCRD 136369 | Little Rock | $9.5B | 7 | 277 | 212 | 1% | Jul 2026 |
| 3 | Sowell ManagementCRD 127145 | North Little Rock | $4.8B | 94 | 16,763 | 6,280 | 89% | Sep 2026 |
| 4 | Arvest Wealth ManagementCRD 42057 | Lowell | $3.4B | 173 | 8,453 | 6,689 | 85% | Mar 2026 |
| 5 | 36 North Capital Management, LLCCRD 317557 | Bentonville | $2.7B | 3 | 5 | n.d. | 0% | Feb 2026 |
| 6 | Greenwood Gearhart, LLCCRD 110379 | Fayetteville | $2.0B | 14 | 3,101 | 1,051 | 94% | Jul 2026 |
| 7 | Naviter Wealth, LLCCRD 311508 | Little Rock | $1.9B | 13 | 957 | 332 | 92% | Sep 2026 |
| 8 | Stephens Group Asset Management, LLCCRD 288981 | Little Rock | $1.7B | 4 | 446 | 200 | 77% | Mar 2026 |
| 9 | Legacy Capital Wealth Partners, LLCCRD 291960 | Little Rock | $1.5B | 17 | 2,626 | 660 | 93% | Sep 2026 |
| 10 | Foundation Resource Management, Inc.CRD 116359 | Little Rock | $1.1B | 6 | 597 | 211 | 69% | Mar 2026 |
| 11 | Bass and Bell, Inc.CRD 300557 | Little Rock | $1.0B | 6 | 1,322 | 329 | 87% | Mar 2026 |
| 12 | Lathrop Investment Management CompanyCRD 334458 | Little Rock | $1.0B | 3 | 836 | 229 | 63% | Mar 2026 |
| 13 | The Arkansas Financial Group, Inc.CRD 104808 | Little Rock | $971.1M | 5 | 1,661 | 367 | 99% | Sep 2026 |
| 14 | Hexagon Capital Partners, LLCCRD 305850 | Rogers | $965.0M | 5 | 1,292 | 392 | 64% | Mar 2026 |
| 15 | TMB Capital Partners, LLCCRD 335750 | Little Rock | $867.8M | 4 | 456 | 409 | 65% | Sep 2026 |
| 16 | Meridian Investment AdvisorsCRD 110216 | Little Rock | $861.6M | 4 | 458 | 191 | 44% | Mar 2026 |
| 17 | Whiterock Wealth Design, LLCCRD 342236 | Fayetteville | $632.9M | 7 | 1,892 | 731 | 100% | Aug 2026 |
| 18 | Newroad Capital Partners, LLCCRD 281487 | Bentonville | $584.4M | 15 | 5 | n.d. | 0% | Aug 2026 |
| 19 | Gilliland Jeter Wealth Management, LLCCRD 324403 | Little Rock | $569.1M | 3 | 836 | 291 | 91% | Jul 2026 |
| 20 | Mach-1 Financial Group, LLCCRD 298195 | Rogers | $546.3M | 8 | 3,255 | 1,566 | 99% | Jul 2026 |
| 21 | Ifrah Financial Services, Inc.CRD 136925 | Little Rock | $489.1M | 9 | 1,432 | 555 | 90% | Sep 2026 |
| 22 | Cabana Asset ManagementCRD 151418 | Fayetteville | $471.8M | 5 | 3 | n.d. | 0% | Sep 2026 |
| 23 | Mustard Seed Wealth ManagementCRD 117737 | Magnolia | $449.4M | 9 | 1,621 | 679 | 94% | Mar 2026 |
| 24 | Horrell Capital Management, Inc.CRD 115711 | Little Rock | $435.1M | 1 | 144 | 77 | 52% | Mar 2026 |
| 25 | New Wave Wealth AdvisorsCRD 323414 | Springdale | $386.8M | 4 | 1,256 | 496 | 99% | Feb 2026 |
| 26 | Applied Capital LLCCRD 166175 | Little Rock | $357.5M | 8 | 2,200 | 687 | 100% | Mar 2026 |
| 27 | Lexington Research and Capital Group, LLCCRD 108576 | Fayetteville | $354.5M | 1 | 205 | 205 | 100% | Mar 2026 |
| 28 | Gutierrez Wealth Advisory, LLCCRD 319481 | Little Rock | $329.3M | 4 | 510 | 132 | 96% | Sep 2026 |
| 29 | Clientfirst Wealth Management, LLCCRD 120286 | Little Rock | $302.8M | 2 | 105 | 54 | 100% | May 2026 |
| 30 | Mendel Capital Management, LLCCRD 311919 | Little Rock | $272.3M | 2 | 412 | 153 | 81% | Mar 2026 |
| 31 | Forest Hill Capital, LLCCRD 129667 | Little Rock | $248.8M | 4 | 5 | 4 | 73% | Apr 2026 |
| 32 | The Circumference Group LLCCRD 159012 | Little Rock | $239.6M | 12 | 10 | 0 | 0% | Mar 2026 |
| 33 | Ipsen Advisor GroupCRD 318010 | Little Rock | $236.1M | 2 | 1,003 | 337 | 96% | Mar 2026 |
| 34 | Millennium Capital Advisors, LLCCRD 108641 | Little Rock | $232.2M | 1 | 335 | 200 | 92% | Apr 2026 |
| 35 | Natural CapitalCRD 306002 | Fayetteville | $225.7M | 11 | 10 | n.d. | 0% | Aug 2026 |
| 36 | Financial Management, Inc.CRD 108350 | Little Rock | $224.5M | 5 | 392 | 140 | 43% | Apr 2026 |
| 37 | Brown Capital Management, LLCCRD 174101 | Little Rock | $216.1M | 4 | 327 | 314 | 94% | Aug 2026 |
| 38 | Lieblong & Associates, Inc.CRD 42578 | Little Rock | $197.9M | 1 | 132 | 125 | 40% | Dec 2025 |
| 39 | Crews & Associates, Inc.CRD 8052 | Little Rock | $181.1M | 18 | 336 | 326 | 90% | Aug 2026 |
| 40 | Family Legacy PlanningCRD 294277 | Bentonville | $169.1M | 3 | 836 | 327 | 96% | Aug 2026 |
| 41 | Westrock Asset Management, LLCCRD 174408 | Little Rock | $162.7M | 4 | 4 | n.d. | 0% | May 2026 |
| 42 | Corkern & Co., Inc.CRD 104730 | Little Rock | $161.9M | 2 | 85 | 81 | 89% | Jan 2026 |
| 43 | Financial Legacy Management, NC.CRD 136348 | Little Rock | $153.1M | 2 | 771 | 447 | 96% | Sep 2026 |
| 44 | Thrasher & Chambers Wealth Management, LLCCRD 293532 | Bentonville | $151.0M | 3 | 400 | 398 | 98% | Jul 2026 |
| 45 | Rivertree WealthCRD 329595 | Little Rock | $143.1M | 4 | 671 | 167 | 100% | Sep 2026 |
| 46 | October Wealth Advisors, IncCRD 153993 | Fort Smith | $141.6M | 2 | 349 | 160 | 91% | Sep 2026 |
| 47 | St. Bernard Financial Services, Inc.CRD 36956 | Russellville | $136.2M | 30 | 798 | 798 | 100% | May 2026 |
| 48 | Veach Family FinancialCRD 115798 | North Little Rock | $134.5M | 2 | 461 | 191 | 96% | Feb 2026 |
| 49 | The Sherry Group, Inc.CRD 146271 | Mountain Home | $130.3M | 3 | 469 | 203 | 100% | Jan 2026 |
| 50 | WillowCRD 325785 | Rogers | $127.6M | 4 | 358 | 108 | 100% | Jun 2026 |
02 · By city
Where in Arkansas the firms sit
Main-office city as filed. Up to the twenty-five cities with the most firms.
Counting the firms in a state is the easy part. Which of them fits a given practice depends on custody, the platform's all-in cost and what an advisor wants to own, which is the subject of how to choose an independent RIA platform and what an independent RIA platform actually costs. Advisors who looked at this channel and chose a broker-dealer instead are covered in the destination profiles.
- Little Rock32 · $43.9B
- Fayetteville6 · $3.7B
- Bentonville4 · $3.6B
- Rogers3 · $1.6B
- Russellville3 · $164.0M
- North Little Rock2 · $4.9B
- Fort Smith1 · $141.6M
- Heber Springs1 · $113.2M
- Hot Springs1 · $125.0M
- Lowell1 · $3.4B
- Magnolia1 · $449.4M
- Mountain Home1 · $130.3M
- Springdale1 · $386.8M
03 · Questions
Questions people ask about RIAs in Arkansas
- How many RIAs are in Arkansas?
- 57 RIAs registered with the SEC list a main office in Arkansas in the SEC's Form ADV data as of Oct 2, 2026. That count excludes state-registered RIAs, which generally manage under $100 million and register with their state, and firms whose address is suppressed on Form ADV.
- What is the largest RIA in Arkansas?
- By regulatory assets under management as filed on Form ADV, the largest SEC-registered RIA headquartered in Arkansas is Stephens in Little Rock, at $18.0B. Regulatory AUM counts all assets a firm manages, so the largest filer in a state is often an institutional asset manager.
- How many Arkansas RIAs manage more than $1 billion?
- 12 of the 57 SEC-registered RIAs headquartered in Arkansas report regulatory assets under management of $1 billion or more. The median firm in the state reports $302.8M.
- Where does this data come from?
- From the SEC's monthly Form ADV data file for SEC-registered investment advisers (ia100226.zip, data as of Oct 2, 2026). Each figure is as the firm itself reported it on Form ADV Item 5; the SEC does not verify it. Every row links to the firm's record on the SEC's Investment Adviser Public Disclosure site.
Definitions and source
What each column means, in the SEC's words
- Regulatory assets under management Form ADV Item 5.F(2)(c)
- If yes, what is the amount of your regulatory assets under management and total number of accounts? Total, discretionary plus non-discretionary.
- Total accounts Form ADV Item 5.F(2)(f)
- Total number of accounts, discretionary plus non-discretionary.
- Employees Form ADV Item 5.A
- Approximately how many employees do you have? Include full- and part-time employees but do not include any clerical workers.
- Advisory employees Form ADV Item 5.B(1)
- Approximately how many of the employees reported in 5.A. perform investment advisory functions (including research)?
- Broker-dealer registered representatives Form ADV Item 5.B(2)
- Approximately how many of the employees reported in 5.A. are registered representatives of a broker-dealer?
- Individual and high-net-worth clients Form ADV Item 5.D(a), 5.D(b)
- Number of clients and amount of regulatory assets under management for individuals (other than high net worth individuals) and for high net worth individuals.
- Commissions Form ADV Item 5.E(5)
- You are compensated for your investment advisory services by (check all that apply): (5) Commissions.
- Private funds Form ADV Item 7.B
- Are you an adviser to any private fund?
Source: SEC and FINRA public filings (Form ADV, BrokerCheck, IAPD). Figures are as self-reported by each firm on Form ADV Item 5; the SEC does not verify them. Neither the SEC nor the state securities authorities have approved the information filed on Form ADV, and we can not guarantee its accuracy.
The firm pays Winthrop & Co., and the advisor never pays. Firms on this page are ordered by the figures in their own SEC filings.