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

Lanark Financial, Inc.

Broker-dealer affiliated wealth managerBirmingham, AlabamaCRD 17870SEC 801-58257websiteIAPD
Latest filing Jul 17, 2026
First filing on the tape Mar 27, 2012 · 25 filings
SEC status approved since Jan 3, 2001
RAUM
$1.8B
reported, Item 5.F
Discretionary
45%
of RAUM
Private clients
88%
$1.6B individuals and HNW
Advisors
69
registered through the firm on IAPD
RAUM per advisor
$25.9M
derived; firm RAUM over IAPD count
Employees
68
63 advisory (5.B.1)
Offices
28
beyond the principal office
Private funds
0
reported on Schedule D
History
25 filings and snapshots on the tape
RAUM$1.8B as of Jul 17, 2026
Mar 27, 2012$479M then
HNW client RAUM$696M as of Jul 17, 2026
Jan 30, 2018$300M then
State-registered IARs (5.B.3)68 as of Jul 17, 2026
Apr 1, 201330 then
Employees (5.A)68 as of Jul 17, 2026
Apr 1, 201350 then
Private funds: no history
RAUM +4.0% over the last fiscal year+8.9% a year over threeIARs 39 to 68
Practice profile
derived from the filing of Jul 17, 2026; every figure names its basis
Archetypes, each a printed rule
  • Broker-dealer affiliated · Item 7.A.1 (broker-dealer affiliate) and at least 50 registered representatives (Item 5.B.2), or the adviser is itself a broker-dealer (6.A.1)
RAUM per advisor
$25.9MderivedRAUM over IAPD advisors; not a book size
Clients per advisor
51derivedindividual and HNW clients (5.D) over advisors
Average HNW client
$2.5MderivedHNW RAUM over HNW clients
Average account
$359,407derivedRAUM over accounts (5.F.2.f)
Discretionary
45%derivedof RAUM
Institutional
6.2%derivedpensions, charities, corporations, government, insurance, banks, other advisers
Employees per advisor
1.0derivedItem 5.A over advisors
Advisors per office
2.4derived29 offices incl. principal (1.F.5)
RAUM growth, one year
+4.0%derivedbetween the last two annual amendments
Advisor growth, one year
+74%derivedItem 5.B.3 between annual amendments
Client growth, one year
-12%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 consulting, selection of other advisers, educational seminarsreportedItem 5.G
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
  • is a broker-dealer (6.A.1)
  • is an insurance broker or agent (6.A.6)
  • 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)
Where the RAUM sits
Form ADV Item 5.D, latest filing
  • Individuals$882M49%
  • High-net-worth individuals$696M39%
  • Corporations and businesses$96.5M5.4%
  • Charitable organizations$89.1M5.0%
  • Pension and profit-sharing plans$21.2M1.2%
Individual clients
3,228reported
HNW clients
280reported
Pension plan clients
12reported
Charitable clients
21reported
Accounts
4,966reported
Financial planning clients
51-100reported
Wrap fee programs
noreported
Custody of client assets
noreported
Compensation
% of AUM, fixed, hourlyreported
Class basis
private_client_share=0.88 fund_share=0.0 institutional_share=0.06 related_bd=true related_bank=false bd_reps=67.0derived
Advisors registered through the firm
69 on IAPD today, longest tenure first
NameBranchHere sinceIn industryPrior firms
Frank Benner FalkenburgBirmingham, AlNov 2, 199532 y0
Dale Barton ElliottFairhope, AlApr 23, 199732 y0
Stephen Burnett AgricolaBirmingham, AlJun 16, 199741 y0
Michael Glen LeaTallahassee, FlMay 16, 200140 y0
Bruce Alan HaganCertified Financial PlannerTallahassee, FlMay 16, 200142 y0
Howard Paul EisenmanTallahassee, FlMay 16, 200147 y0
Lynn Michelle HanfmanTallahassee, FlJul 25, 200131 y0
Gregory Scott MussoHuntsville, AlMay 22, 200225 y0
Todd Randall KurzhalPriceville, AlMay 23, 200235 y0
Kerry Grindle MaldonadoBirmingham, AlJan 10, 200625 y0
Anthony Brian WolfeBirmingham, AlApr 23, 200826 y0
Adam Payne NewtonBirmingham, Al May 9, 200819 y0
David Edwin HopeBirmingham, AlJan 5, 201140 y1
Sapna Garg GoelHuntsville, AlFeb 11, 201119 y0
Pierre Gaston Marc AllardWinter Park, FlApr 27, 201116 y0
William Lincoln BraudeSummit, Nj Jul 6, 201241 y3
Steven Greg AbramsBirmingham, Al Feb 1, 201329 y3
David Bevier TaylorHunt Valley, Md Feb 5, 201338 y2
Bruce Paul BetzBirmingham, Al Feb 5, 201343 y2
Monte Paul MarshallBirmingham, AlMar 31, 201420 y0
John Fontaine KeithBirmingham, AlMay 1, 201431 y1
Lawrence Clay MillerBirmingham, Al Jun 20, 201446 y3
Carolyn Lee BennettDubuque, IaJul 23, 201543 y2
Lee Scott SteortsBountiful, Ut Jul 23, 201534 y4
Anthony Jerome KepplerDubuque, IaJul 23, 201544 y2
John Roy HackettDubuque, IaJul 23, 201546 y2
Joseph OberschewenSummit, Nj Jul 31, 201534 y2
Matthew Louis SenicolaMassapequa, NyAug 3, 201527 y1
Armand Anthony AtkinsonCertified Financial Planner, Chartered Financial ConsultantSt Petersburg, Fl Aug 3, 201519 y2
Joseph Edward DisanzaMassapequa, NyAug 3, 201537 y2
Edward John WellsMassapequa, NyAug 3, 201529 y2
Michael Bernard OtoolePalm Beach Gardens, FlAug 11, 201542 y3
Robert Glenn AlvarezCertified Financial PlannerTampa, FlAug 11, 201533 y2
Mark Donald HenningsMinnetonka, MnAug 12, 201527 y2
Stephen Miske MillerSummit, Nj Aug 17, 201527 y1
David Scott GlennBirmingham, AlNov 1, 201630 y0
Maria Benito AtkinsonSt Petersburg, Fl Mar 29, 201711 y3
Peyton Davis FalkenburgBirmingham, AlJun 8, 201711 y0
Gayle Anne DillaHunt Valley, MdDec 4, 201739 y4
Lisa Ann SumpterCertified Financial PlannerFarmington, MoJun 6, 201925 y3
All 69 advisors at Lanark Financial, Inc.
Advisor movement
2 left, 3 joined in 12 months
net +1 in 12 months0 left in 90 days0 joined in 90 daysdeparture rate 2.9% of current headcount9 left over 36 months
Left, latest
Joined, latest
Teams: two or more advisors moving together within fourteen days, from one state
Private funds
No private fund reported.
Owners and control persons
Schedule A and B, latest filing
  • Pamela Kohser Conway · Vice Presidentcontrol
    since 08/1995 · owns less than 5%
  • John Robert Jr Doody · Ceocontrol
    since 04/2021 · owns less than 5%
  • Doug James Elder · Svp - Sales Managercontrol
    since 07/2010 · owns less than 5%
  • Frank Benner Falkenburg · Managing Directorcontrol
    since 06/2010 · owns less than 5%
  • Peyton Davis Falkenburg · Presidentcontrol
    since 05/2026 · owns less than 5%
  • Harold Blaine Miller · Vp, Chief Compliance Officer Officercontrol
    since 10/2025 · owns less than 5%
  • Bradford Lee Phelan · President And Ceocontrol
    since 08/1995 · owns less than 5%
  • Jeffery Scott Wilkins · Vice President, Chief Compliance Officercontrol
    since 06/2004 · owns less than 5%
  • Frank Benner Falkenburg · Limited Partnercontrol
    since 06/2010 · owns 25% to 50% of Nbcs Holdings, L.P.
  • Bradford Lee Phelan · General/Limited Partnercontrol
    since 06/2010 · owns 25% to 50% of Nbcs Holding, L.P.
Entity owners
  • Lanark Financial Group, LLC · Shareholder
    direct · owns 75% or more
  • Nbcs Holdings, L.P. · Shareholder
    direct · owns 75% or more
Related persons
Schedule D 7.A
No related person reported.
Office movement
IAPD branch city; joins and departures in 12 months
OfficeAdvisorsJoinedLeftTeams outForming
Birmingham, Al · principal2212
Farmington, Mo910
Tampa, Fl500
Summit, Nj500
Louisville, Ky400
Dubuque, Ia410
Hunt Valley, Md400
Tallahassee, Fl400
Massapequa, Ny300
Priceville, Al200
Sikeston, Mo200
St Petersburg, Fl200
Imperial, Mo200
Granville, Oh210
Huntsville, Al200
Lebanon, Mo200
Columbia, Tn000
Offices
Schedule D 1.F, the 25 largest
  • Tampa, FL6 employees
  • Hunt Valley, MD5 employees
  • Columbia, TN5 employees
  • Tallahassee, FL5 employees
  • Summit, NJ5 employees
  • Massapequa, NY4 employees
  • Dubuque, IA4 employees
  • Winter Park, FL3 employees
  • Brentwood, TN3 employees
  • Plymouth, MN3 employees
  • Farmington, MO3 employees
  • Santa Rosa, CA2 employees
  • Huntsville, AL2 employees
  • Winter Haven, FL2 employees
  • Birmingham, AL2 employees
  • Granville, OH2 employees
  • Lake Mary, FL2 employees
  • Palm Beach Gardens, FL1 employees
  • Stuart, FL1 employees
  • Leawood, KS1 employees
  • Sarasota, FL1 employees
  • Sebring, FL1 employees
  • Zephyrhills, FL1 employees
  • Fairhope, AL1 employees
  • Priceville, AL1 employees
ADV anomalies
11 against comparable advisers; where to look, not conclusions
  • control person changedChange between filings · filing Jul 17, 2026
    ELDER, DOUG JAMES (SVP - SALES MANAGER) left Schedule A between the filings of 2012-03-27 and 2026-07-17
    peers: affiliated wealth managers, $1B to $5B (56)
  • control person changedChange between filings · filing Jul 17, 2026
    WILKINS, JEFFERY SCOTT (VICE PRESIDENT, CHIEF COMPLIANCE OFFICER) left Schedule A between the filings of 2012-03-27 and 2026-07-17
    peers: affiliated wealth managers, $1B to $5B (56)
  • control person changedChange between filings · filing Jul 17, 2026
    CONWAY, PAMELA KOHSER (VICE PRESIDENT) left Schedule A between the filings of 2012-03-27 and 2026-07-17
    peers: affiliated wealth managers, $1B to $5B (56)
  • control person changedChange between filings · filing Jul 17, 2026
    DOODY, JOHN ROBERT JR (CEO) appeared on Schedule A between the filings of 2012-03-27 and 2026-07-17
    peers: affiliated wealth managers, $1B to $5B (56)
  • control person changedChange between filings · filing Jul 17, 2026
    MILLER, HAROLD BLAINE (VP, CHIEF COMPLIANCE OFFICER OFFICER) appeared on Schedule A between the filings of 2012-03-27 and 2026-07-17
    peers: affiliated wealth managers, $1B to $5B (56)
  • control person changedChange between filings · filing Jul 17, 2026
    FALKENBURG, PEYTON DAVIS (PRESIDENT) appeared on Schedule A between the filings of 2012-03-27 and 2026-07-17
    peers: affiliated wealth managers, $1B to $5B (56)
  • control person changedChange between filings · filing Jul 17, 2026
    PHELAN, BRADFORD LEE (PRESIDENT AND CEO) left Schedule A between the filings of 2012-03-27 and 2026-07-17
    peers: affiliated wealth managers, $1B to $5B (56)
  • new owner headcount expandsCombination · filing Mar 26, 2026
    LANARK FINANCIAL GROUP, LLC joined Schedule A on the filing of 2026-07-17; advisors 39.0 to 68.0 between the annual amendments of 2025-01-20 and 2026-03-26
    peers: affiliated wealth managers, $1B to $5B (56)
  • advisors up RAUM flatCombination · filing Mar 26, 2026
    the advisor count grew 25 percent or more while RAUM stayed within 5 percent: hiring or an acquisition ahead of assets, or assets that did not follow. RAUM $1,715,376,867 to $1,784,817,450, advisors 39 to 68, private clients 3992 to 3508, offices 28 to 28 (2025-01-20 to 2026-03-26)
    peers: affiliated wealth managers, $1B to $5B (56)
  • advisor count surgeChange between filings · filing Mar 26, 2026
    advisory representatives (Item 5.B.3) moved from 39.0 to 68.0 (+74.0%) between the annual amendments of 2025-01-20 and 2026-03-26; the peer median change was 0.0% (50 comparable advisers, 96.0th percentile of changes)
    peers: affiliated wealth managers, $1B to $5B (50) · 96% percentile
  • HNW share shiftChange between filings · filing Mar 26, 2026
    HNW share of RAUM moved from 23.0% to 39.0% between the annual amendments of 2025-01-20 and 2026-03-26
    peers: affiliated wealth managers, $1B to $5B (56)
What changed
consecutive filings, newest first
  • Business name · NBC SECURITIES, INC. to LANARK FINANCIAL, INC.
    Jun 30, 2026 to Jul 17, 2026
  • Legal name · NBC SECURITIES, INC. to LANARK FINANCIAL, INC.
    Mar 26, 2026 to Jun 30, 2026
  • Accounts · 4,545 to 4,966
    Jan 21, 2026 to Mar 26, 2026
  • Advisory employees · 39 to 63
    Jan 21, 2026 to Mar 26, 2026
  • Advisory activities · 5 to 6
    Jan 21, 2026 to Mar 26, 2026
  • BD registered reps · 39 to 67
    Jan 21, 2026 to Mar 26, 2026
  • Charity clients · 25 to 21
    Jan 21, 2026 to Mar 26, 2026
  • Corporate clients · 500 to 35
    Jan 21, 2026 to Mar 26, 2026
  • HNW clients · 200 to 280
    Jan 21, 2026 to Mar 26, 2026
  • Individual clients · 3,792 to 3,228
    Jan 21, 2026 to Mar 26, 2026
  • Pension plan clients · 25 to 12
    Jan 21, 2026 to Mar 26, 2026
  • Insurance-licensed employees · 3 to 1
    Jan 21, 2026 to Mar 26, 2026
  • State-registered IARs · 39 to 68
    Jan 21, 2026 to Mar 26, 2026
  • Discretionary RAUM · $956M to $795M
    Jan 21, 2026 to Mar 26, 2026
  • HNW RAUM · $395M to $696M
    Jan 21, 2026 to Mar 26, 2026
  • Individual RAUM · $1.2B to $882M
    Jan 21, 2026 to Mar 26, 2026
  • Non-discretionary RAUM · $760M to $990M
    Jan 21, 2026 to Mar 26, 2026
  • Pension RAUM · $45.0M to $21.2M
    Jan 21, 2026 to Mar 26, 2026
  • RAUM · $1.7B to $1.8B
    Jan 21, 2026 to Mar 26, 2026
  • Accounts · 5,266 to 4,545
    Jun 12, 2024 to Jan 20, 2025
  • Individual clients · 4,513 to 3,792
    Jun 12, 2024 to Jan 20, 2025
  • Financial planning clients · 51-100 to 51-100
    Jun 12, 2024 to Jan 20, 2025
  • Other offices · 30 to 28
    Jun 12, 2024 to Jan 20, 2025
  • Discretionary RAUM · $871M to $956M
    Jun 12, 2024 to Jan 20, 2025
  • Individual RAUM · $1.2B to $1.2B
    Jun 12, 2024 to Jan 20, 2025
  • Non-discretionary RAUM · $825M to $760M
    Jun 12, 2024 to Jan 20, 2025
  • RAUM · $1.7B to $1.7B
    Jun 12, 2024 to Jan 20, 2025
  • Wrap assets (manager) · 492725001.0 to unset
    Jun 12, 2024 to Jan 20, 2025
  • Wrap assets (sponsor) · 725657304.0 to unset
    Jun 12, 2024 to Jan 20, 2025
  • Accounts · 5,228 to 5,266
    Mar 30, 2023 to Apr 5, 2024
  • Advisory employees · 75 to 39
    Mar 30, 2023 to Apr 5, 2024
  • BD registered reps · 88 to 39
    Mar 30, 2023 to Apr 5, 2024
  • Individual clients · 5,228 to 4,513
    Mar 30, 2023 to Apr 5, 2024
  • Employees · 95 to 68
    Mar 30, 2023 to Apr 5, 2024
  • State-registered IARs · 75 to 39
    Mar 30, 2023 to Apr 5, 2024
  • Discretionary RAUM · $792M to $871M
    Mar 30, 2023 to Apr 5, 2024
  • Individual RAUM · $915M to $1.2B
    Mar 30, 2023 to Apr 5, 2024
  • Non-discretionary RAUM · $592M to $825M
    Mar 30, 2023 to Apr 5, 2024
  • RAUM · $1.4B to $1.7B
    Mar 30, 2023 to Apr 5, 2024
  • Wrap assets (manager) · $429M to $493M
    Mar 30, 2023 to Apr 5, 2024
Signals
26 dated events
  • Lanark Financial, Inc. reported 68 state-registered advisory representatives, up from 39 (2026-01-21 to 2026-03-26)
    Mar 26, 2026 · Advisor headcount change · derived
  • Ahmed Y Stephens left Lanark Financial, Inc. for Lpl Financial Llc (registered 2025-11-19)
    Nov 18, 2025 · Advisor changed firm · fact
  • Jeffery Scott Wilkins left Lanark Financial, Inc. for Eagle Strategies Llc (registered 2026-04-07)
    Oct 6, 2025 · Advisor changed firm · fact
  • Thomas Hardin Sneed left Lanark Financial, Inc. for Osaic Wealth, Inc. (registered 2025-08-18)
    Aug 19, 2025 · Advisor changed firm · fact
  • Gaye Messmer Pike left Lanark Financial, Inc. for Osaic Wealth, Inc. (registered 2025-08-18)
    Aug 19, 2025 · Advisor changed firm · fact
  • Montee Allan Sneed left Lanark Financial, Inc. for Osaic Wealth, Inc. (registered 2025-08-18)
    Aug 19, 2025 · Advisor changed firm · fact
  • 3 advisors left Lanark Financial, Inc. (Columbia, TN) for Osaic Wealth, Inc. on the same day
    Aug 19, 2025 · Team lift-out · derived
  • 2 advisors left L.M. Kohn & Company (Cincinnati, OH) for Lanark Financial, Inc. on the same day
    Aug 14, 2025 · Team lift-out · derived
  • Johnathan M Horman left Lanark Financial, Inc. for Correct Capital Wealth Management, Llc (registered 2025-04-07)
    Mar 11, 2025 · Advisor changed firm · fact
  • Warren Douglas Mcpeters left Lanark Financial, Inc. for Ubs Financial Services Inc. (registered 2024-09-23)
    Sep 16, 2024 · Advisor changed firm · fact
  • Lanark Financial, Inc. reported 39 state-registered advisory representatives, down from 75 (2023-03-30 to 2024-04-05)
    Apr 5, 2024 · Advisor headcount change · derived
  • Jason Michael Mahurin left Lanark Financial, Inc. for Edward Jones (registered 2024-04-12)
    Apr 3, 2024 · Advisor changed firm · fact
  • Joseph Terence Keating left Lanark Financial, Inc. for Southstate Advisory, Inc. (registered 2024-03-29)
    Mar 18, 2024 · Advisor changed firm · fact
  • Lanark Financial, Inc. reported RAUM $1.4B, down 30% from $2.0B (2022-03-22 to 2023-03-30)
    Mar 30, 2023 · RAUM change · derived
  • Lanark Financial, Inc. reported 30 offices beyond its principal office, down from 41 (2022-03-22 to 2023-03-30)
    Mar 30, 2023 · Office count change · derived
  • Evan Lyle Hershey left Lanark Financial, Inc. for Caldwell Sutter Capital, Inc. (registered 2023-03-02)
    Feb 24, 2023 · Advisor changed firm · fact
  • Gregory Joseph Harder left Lanark Financial, Inc. for Caldwell Sutter Capital, Inc. (registered 2023-03-02)
    Feb 24, 2023 · Advisor changed firm · fact
  • 2 advisors left Lanark Financial, Inc. (Santa Rosa, CA) for Caldwell Sutter Capital, Inc. on the same day
    Feb 24, 2023 · Team lift-out · derived
  • David John Hughes left Lanark Financial, Inc. for The Ameriflex Group (registered 2023-01-05)
    Jan 5, 2023 · Advisor changed firm · fact
  • Chasten Boen left Lanark Financial, Inc. for Fidelity Personal And Workplace Advisors (registered 2023-02-09)
    Nov 22, 2022 · Advisor changed firm · fact
  • Richard Scott Perkins left Lanark Financial, Inc. for Concourse Financial Group Advisors (registered 2022-09-20)
    Sep 14, 2022 · Advisor changed firm · fact
  • James Horace Davis left Lanark Financial, Inc. for Kestra Advisory Services, Llc (registered 2022-04-05)
    Apr 1, 2022 · Advisor changed firm · fact
  • Susanne Davis Reseland left Lanark Financial, Inc. for Davis Reseland, Llc (registered 2007-01-08)
    Apr 1, 2022 · Advisor changed firm · fact
  • Lanark Financial, Inc. reported RAUM $2.0B, up 31% from $1.5B (2021-01-26 to 2022-03-22)
    Mar 22, 2022 · RAUM change · derived
  • Lanark Financial, Inc. reported 65 state-registered advisory representatives, up from 50 (2020-06-25 to 2021-01-26)
    Jan 26, 2021 · Advisor headcount change · derived
  • Lanark Financial, Inc. reported RAUM $1.6B, up 30% from $1.3B (2019-03-28 to 2020-03-30)
    Mar 30, 2020 · RAUM change · derived
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
Firm profile
linkedin.com/company/nbcsecuritiesreportedpublic record, Form ADV, Sep 18, 2026
Website
NBCSECURITIES.COMreportedpublic record, Form ADV, Sep 18, 2026
Principal office phone
800-521-9390reportedpublic record, Form ADV, Jul 17, 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
Broker-dealer affiliated wealth managerderiveda rule over Items 5.D and 7.A
RAUM per advisor
$25.9Mderivedfirm RAUM over the IAPD count; not a book size
Loaded
Sep 14, 2026