RFG Advisory, LLC is a large financial advisor firm that offers support to an independent network of other advisory firms. The firm itself is located in Vestavia Hills, Alabama, which is a suburb of Birmingham. RFG and its network have over $1.5 billion in client assets under management and a large number of on-staff advisors. RFG's network works with both individual and institutional clients, providing a range of financial planning and portfolio management services. This is a fee-based firm.
RFG also has a few awards and accolades to its name. For 2020, it was named a Top 300 Registered Investment Advisor (RIA) by the Financial Times. It was also a 2020 WealthManagement.com Industry Awards finalist.
RFG Advisory Background
RFG Advisory was founded in 2003 as a firm designed to provide business support to an independent network of financial advisor firms. It has been an RIA since it regsitered as such in 2011. Currently, the firm is owned by CEO and founder Bobby White, Shannon Spotswood and Rick Wedell. White owns 60% of the firm, while Spotswood and Wedell both own 20%.
RFG currently works with around 50 independent advisors and has 17 different locations. Many advisors in the firm's network are certified, with designations such as chartered financial analyst (CFA) and certified financial planner (CFP).
RFG Advisory Client Types and Minimum Account Sizes
RFG Advisory works with an independent network of advisors. Advisors that partner with RFG itself work with a variety of different clients. The majority of these clients are individuals, and the majority of these individuals do not have a high net worth. However, advisors also work with high-net-worth individuals, banks, thrift institutions, pension and profit-sharing plans, charities, state and municipal governments and businesses.
Account minimums typically vary from advisor to advisor and may be subject to some negotiation.
Services Offered by RFG Advisory
Advisors that are part of the RFG Advisory network mainly provide comprehensive portfolio management, financial planning and consulting services. Other offerings include referrals to third-party money managers, retirement plan consulting and financial wellness services.
Since every advisor that works with RFG is independent, they all may provide slightly different versions of these services to clients. Advisors do have access to certain proprietary investment strategies, such as RFG's Steadfast portfolios or Advisor Select portfolios. These strategies are used in conjunction with the client's financial objectives.
RFG Advisory Investment Philosophy
Advisors in the RFG Advisory network tend to work with clients to provide tailored investment management that properly takes into account a client's financial situation and investment goals. Advisors do so by meeting with clients to determine such information as their tolerance for risk, liquidity needs and time horizon.
Each advisor is different, so investment philosphies and strategies may vary depending on who you happen to work with. However, advisors tend to use a combination of funamental analysis, technical analysis, charting and cyclical analysis to evaluate potential investments. They may invest for the long term or short term and may use trading, options writing and margin transactions to help drive growth.
Fees Under RFG Advisory
RFG Advisory charges fees for investment management services based on a percentage of each client's total assets under management (AUM). This fee may be negotiable and may vary from advisor to advisor. However, it won't typically exceed 2.35% annually.
Financial planning fees are typically charged on a negotiable, flat fee basis. This flat fee will not exceed $50,000 per engagement.
What to Watch Out For
RFG Advisory has no legal or regulatory disclosures listed on its Form ADV.
RFG is a fee-based firm. In turn, many advisors in the firm's network are registered as insurance agents or broker-dealer representatives and may receive commissions as a result. This is a potential conflict of interest, though the firm is required to act in clients' best interests due to its fiduciary duty.
Opening an Account With RFG Advisory
If you're interested in working with an advisor in RFG's network, you can reach out to either the advisor or or RFG directly. To contact RFG, visit the firm in-person or call (205) 397-2450. You can also go online to the firm's website and submit a contact form.
All information is accurate as of the writing of this article.
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