DFX Intelligence
RIA Intelligence
Registered investment advisers, the advisors registered through them, the capital they report, the private vehicles they run and the people who own them, as a graph with a filing date behind every number. RAUM is what the adviser filed, a move is two registration dates, and a class is a rule you can read.
SEC-registered adviser
Brown Financial Advisory
Legal name Brown Mcleod, Inc
Latest filing Mar 12, 2026
First filing on the tape Jan 27, 2014 · 32 filings
SEC status approved since Feb 4, 2014
RAUM
$468M
reported, Item 5.F
Discretionary
99%
of RAUM
Private clients
96%
$448M individuals and HNW
Advisors
6
registered through the firm on IAPD
RAUM per advisor
$78.0M
derived; firm RAUM over IAPD count
Employees
8
6 advisory (5.B.1)
Offices
1
beyond the principal office
Private funds
0
reported on Schedule D
History
32 filings and snapshots on the tape
RAUM$468M as of Mar 12, 2026
Mar 5, 2015$121M then
HNW client RAUM$389M as of Mar 12, 2026
Jan 29, 2018$104M then
State-registered IARs (5.B.3)6 as of Mar 12, 2026
Mar 5, 20153 then
Employees (5.A)8 as of Mar 12, 2026
Mar 5, 20155 then
Private funds: no history
RAUM +36% over the last fiscal year+23% a year over threeIARs 6 to 6
Practice profile
derived from the filing of Mar 12, 2026; every figure names its basis
Archetypes, each a printed rule
- HNW wealth manager · private-client share of RAUM at least 50 percent and HNW share of private-client RAUM 50 to 90 percent
- Independent boutique · a wealth manager with no broker-dealer, bank or insurance affiliate, 2 to 25 advisors, one to three offices, no public reporting company control
- RAUM per advisor
- $78.0MderivedRAUM over IAPD advisors; not a book size
- Clients per advisor
- 46derivedindividual and HNW clients (5.D) over advisors
- Average HNW client
- $2.5MderivedHNW RAUM over HNW clients
- Average account
- $545,079derivedRAUM over accounts (5.F.2.f)
- Discretionary
- 99%derivedof RAUM
- Institutional
- 2.8%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- 1.3derivedItem 5.A over advisors
- Advisors per office
- 3.0derived2 offices incl. principal (1.F.5)
- RAUM growth, one year
- +36%derivedbetween the last two annual amendments
- Advisor growth, one year
- +0.0%derivedItem 5.B.3 between annual amendments
- Client growth, one year
- +19%derived
- Compensation
- percentage of assets, hourly, fixed feesreportedItem 5.E
- Advisory activities
- financial planning, portfolio management for individuals, portfolio management for businesses and institutions, pension consultingreportedItem 5.G
- Custody
- $219M, 180 clientsreportedItem 9.A
- Ownership
- no PE, bank or public-company owner found on Schedule Aderived
- Advisor book size
- not public; not estimatedreported
Also answered yes on Form ADV
- buys or sells securities as principal to or from clients (8.A.2)
- has discretionary authority over which securities are bought or sold (8.C.1)
- receives research or other products from a broker-dealer, soft dollars (8.E)
- has custody of client cash or bank accounts (9.A.1.a)
- has custody of client securities (9.A.1.b)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- High-net-worth individuals$389M83%
- Individuals$59.3M13%
- Pension and profit-sharing plans$13.1M2.8%
- Corporations and businesses$6.7M1.4%
- Individual clients
- 121reported
- HNW clients
- 154reported
- Pension plan clients
- 7reported
- Charitable clients
- n/areported
- Accounts
- 859reported
- Financial planning clients
- 251-500reported
- Wrap fee programs
- noreported
- Custody of client assets
- $219M for 180 clientsreported
- Compensation
- % of AUM, fixed, hourlyreported
- Class basis
- private_client_share=0.96 fund_share=0.0 institutional_share=0.03 related_bd=false related_bank=false bd_reps=0.0derived
Advisors registered through the firm
6 on IAPD today, longest tenure first
| Name | Branch | Here since | In industry | Prior firms |
|---|---|---|---|---|
| Daniel Scott McleodCertified Financial Planner, Chartered Financial Consultant | Fairhope, Al | Jan 25, 2011 | 30 y | 1 |
| Joshua Wyatt LancasterChartered Financial Analyst | Fairhope, Al | Sep 12, 2018 | 23 y | 2 |
| Mu-Tin WultschCertified Financial Planner | Fairhope, Al | Feb 4, 2022 | 16 y | 4 |
| Harvey Atwood HutchinsonCertified Financial Planner | Fairhope, Al | Oct 31, 2022 | 18 y | 3 |
| Amy Tyler SmithCertified Financial Planner | Fairhope, Al | Nov 16, 2023 | 13 y | 0 |
| Evan Michael HippCertified Financial Planner | Fairhope, Al | Dec 18, 2024 | 12 y | 2 |
Advisor movement
0 left, 0 joined in 12 months
net 0 in 12 months0 left in 90 days0 joined in 90 daysdeparture rate 0.0% of current headcount0 left over 36 months
Left, latest
- Christopher Steven Alman to Equip Financial PartnersOct 19, 2022 · RIA to a state-registered adviser
Joined, latest
- Evan Michael Hipp from Cetera Investment Advisers LLCDec 18, 2024 · Affiliated broker-dealer or bank to independent RIA
- Harvey Atwood Hutchinson from Arvest Wealth ManagementOct 31, 2022 · RIA to RIA
- Mu-Tin Wultsch from Schwab Wealth Advisory, Inc.Feb 4, 2022 · Other
- Joshua Wyatt Lancaster from Waverly Advisors, LLCSep 12, 2018 · RIA to RIA
- Christopher Steven Alman from Charles D. Jones Capital Management, Inc.Feb 22, 2014 · Other
- Daniel Scott Mcleod from Kinsight, LLCJan 25, 2011 · Other
Private funds
No private fund reported.
Owners and control persons
Schedule A and B, latest filing
- Scott Daniel Mcleod · Ceo & Presidentcontrolsince 11/2010 · owns 75% or more
- Wyatt Joshua Lancaster · Vice-President & Chief Compliance Officer & Chief Investment Officersince 03/2019 · owns 10% to 25%
Related persons
Schedule D 7.A
No related person reported.
Office movement
IAPD branch city; joins and departures in 12 months
| Office | Advisors | Joined | Left | Teams out | Forming |
|---|---|---|---|---|---|
| Fairhope, Al · principal | 6 | 0 | 0 |
Offices
Schedule D 1.F, the 25 largest
No branch office listed.
ADV anomalies
1 against comparable advisers; where to look, not conclusions
- RAUM up 25 %Change between filings · filing Mar 12, 2026RAUM (Item 5.F) moved from $344,026,037 to $468,223,225 (+36.0%) between the annual amendments of 2025-04-24 and 2026-03-12; the peer median change was +15.0% (4551 comparable advisers, 91.0th percentile of changes)peers: independent wealth managers, $100M to $500M (4,551) · 91% percentile
What changed
consecutive filings, newest first
- Accounts · 745 to 859Apr 24, 2025 to Mar 12, 2026
- Charity clients · 1.0 to unsetApr 24, 2025 to Mar 12, 2026
- Corporate clients · 3 to 6Apr 24, 2025 to Mar 12, 2026
- HNW clients · 118 to 154Apr 24, 2025 to Mar 12, 2026
- Individual clients · 113 to 121Apr 24, 2025 to Mar 12, 2026
- Pension plan clients · 6 to 7Apr 24, 2025 to Mar 12, 2026
- Assets in custody · $135M to $219MApr 24, 2025 to Mar 12, 2026
- Employees · 7 to 8Apr 24, 2025 to Mar 12, 2026
- Financial planning clients · 101-250 to 251-500Apr 24, 2025 to Mar 12, 2026
- Discretionary RAUM · $341M to $464MApr 24, 2025 to Mar 12, 2026
- HNW RAUM · $275M to $389MApr 24, 2025 to Mar 12, 2026
- Individual RAUM · $54.5M to $59.3MApr 24, 2025 to Mar 12, 2026
- Non-discretionary RAUM · $3.3M to $4.0MApr 24, 2025 to Mar 12, 2026
- Pension RAUM · $12.6M to $13.1MApr 24, 2025 to Mar 12, 2026
- RAUM · $344M to $468MApr 24, 2025 to Mar 12, 2026
- Accounts · 715 to 745Oct 25, 2024 to Apr 24, 2025
- Advisory employees · 5 to 6Oct 25, 2024 to Apr 24, 2025
- Charity clients · unset to 1.0Oct 25, 2024 to Apr 24, 2025
- HNW clients · 107 to 118Oct 25, 2024 to Apr 24, 2025
- Individual clients · 115 to 113Oct 25, 2024 to Apr 24, 2025
- Pension plan clients · 5 to 6Oct 25, 2024 to Apr 24, 2025
- Assets in custody · $127M to $135MOct 25, 2024 to Apr 24, 2025
- Financial planning clients · 101-250 to 101-250Oct 25, 2024 to Apr 24, 2025
- State-registered IARs · 5 to 6Oct 25, 2024 to Apr 24, 2025
- Other offices · 0 to 1Oct 25, 2024 to Apr 24, 2025
- Discretionary RAUM · $298M to $341MOct 25, 2024 to Apr 24, 2025
- HNW RAUM · $230M to $275MOct 25, 2024 to Apr 24, 2025
- Individual RAUM · $57.6M to $54.5MOct 25, 2024 to Apr 24, 2025
- Non-discretionary RAUM · $3.1M to $3.3MOct 25, 2024 to Apr 24, 2025
- Pension RAUM · $10.9M to $12.6MOct 25, 2024 to Apr 24, 2025
- RAUM · $301M to $344MOct 25, 2024 to Apr 24, 2025
- Accounts · 681 to 715Sep 12, 2023 to Mar 27, 2024
- Advisory employees · 4 to 5Sep 12, 2023 to Mar 27, 2024
- Charity clients · 1.0 to unsetSep 12, 2023 to Mar 27, 2024
- Corporate clients · 1 to 3Sep 12, 2023 to Mar 27, 2024
- HNW clients · 94 to 107Sep 12, 2023 to Mar 27, 2024
- Individual clients · 124 to 115Sep 12, 2023 to Mar 27, 2024
- Assets in custody · $109M to $127MSep 12, 2023 to Mar 27, 2024
- Employees · 6 to 7Sep 12, 2023 to Mar 27, 2024
- State-registered IARs · 4 to 5Sep 12, 2023 to Mar 27, 2024
Signals
3 dated events
- Brown Financial Advisory reported RAUM $468.2M, up 36% from $344.0M (2025-04-24 to 2026-03-12)Mar 12, 2026 · RAUM change · derived
- Christopher Steven Alman left Brown Financial Advisory for Equip Financial Partners (registered 2022-11-15)Oct 19, 2022 · Advisor changed firm · fact
- Brown Financial Advisory filed its initial SEC registration (Form ADV)Jan 27, 2014 · First SEC registration · fact
Across DFX
shared identifiers only, never a name match
No identifier-backed link to the venture, private equity, family office or sponsor graphs.
How to reach
public business contact points only, each with its source
- Business phone
- 251-928-9498reportedpublished by the firm, firm site, Sep 15, 2026
- Firm profile
- linkedin.com/company/4003588/adminreportedpublic record, Form ADV, Sep 17, 2026
- Website
- BROWNFINANCIALADVISORY.COMreportedpublic record, Form ADV, Sep 17, 2026
- Principal office phone
- 251-928-9498reportedpublic record, Form ADV, Mar 12, 2026
- Contact form
- brownfinancialadvisory.com/contactreportedpublished by the firm, firm site, Sep 15, 2026
- Team page
- brownfinancialadvisory.com/teamreportedpublished by the firm, firm site, Sep 15, 2026
Provenance
- Form ADV
- SEC filing data 2011 to 2024 and the monthly roster 2025 onreportedadviserinfo.sec.gov
- Advisors
- IAPD individual compilation feed, dailyreportedadviserinfo.sec.gov
- Class
- Independent wealth managerderiveda rule over Items 5.D and 7.A
- RAUM per advisor
- $78.0Mderivedfirm RAUM over the IAPD count; not a book size
- Loaded
- Sep 14, 2026