Allegiance Financial Group provides financial planning, portfolio management for individuals and small businesses, portfolio management for institutions, pension consulting, and selecting other managers. Financial planning was provided to 101–250 clients last fiscal year.
Allegiance Financial Group reports 173 clients. They include 119 individual clients and 54 high-net-worth individuals. Of its assets, 96.6% ($175M across 407 accounts) are managed with discretion; $6.1M across 26 accounts are not. Of its clients, 1% are outside the U.S. It advised 4 clients without assets under management last fiscal year.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 69% | 22% |
| High-net-worth individuals | 31% | 78% |
| Charitable organizations | Fewer than 5 | <1% |
| Corporations and other businesses | Fewer than 5 | <1% |
Client shares use reported counts. Client types without a reported count are excluded from that total.
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 119 | $39.3M | 21.8% | $330K |
| High-net-worth individuals | 54 | $140M | 77.6% | $2.59M |
| Charitable organizations | Fewer than 5 | $1.24M | 0.7% | — |
| Corporations and other businesses | Fewer than 5 | $2.43K | 0.0% | — |
| Total | 173 | $181M | 100% | — |
- Clients
- 119
- Regulatory AUM
- $39.3M
- AUM share
- 21.8%
- Avg. per client
- $330K
- Clients
- 54
- Regulatory AUM
- $140M
- AUM share
- 77.6%
- Avg. per client
- $2.59M
- Clients
- Fewer than 5
- Regulatory AUM
- $1.24M
- AUM share
- 0.7%
- Avg. per client
- —
- Clients
- Fewer than 5
- Regulatory AUM
- $2.43K
- AUM share
- 0.0%
- Avg. per client
- —
Total
- Clients
- 173
- Regulatory AUM
- $181M
- AUM share
- 100%
- Avg. per client
- —
- Clients outside the U.S.
- 1%
- Clients advised without assets under management last fiscal year
- 4
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 101–250
Allegiance Financial Group is paid through a percentage of assets under management, hourly charges and fixed fees (other than subscription fees). The reviewed brochures do not disclose an asset-based fee rate. Read the SEC-filed brochure. The brochure also prices one other service, listed under fee details.
Fee details and sources
Other fees
- Financial Planning and Consulting (stand-alone)
- Fixed fees generally from $3,000 to $20,000, or $150 to $300 an hour, negotiable.
Neal Richard owns 50% to 75% of Allegiance Financial Group. The leadership team of Allegiance Financial Group includes President Randall Richard. It has 10 employees, 6 of them in advisory roles.
Staff
- 10 employees
- 6 in advisory functions
- 6 state-registered reps
- 7 broker-dealer reps
- 3 insurance agents
- Owns 50% to 75% of Allegiance Financial Group, Inc.
Neal Richard
Control person · since April 1997
- Owns 50% to 75% of Allegiance Financial Group, Inc.
Randall Richard
Control person · since September 1996
Allegiance Financial Group’s regulatory assets grew from $145M (March 2022) to $181M (March 2026); clients fell from 185 to 173 and employees rose from 8 to 10.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | StaffEmployees | Offices |
|---|---|---|---|---|
| Mar 2026March 2026 | $181M | 173 | 10 | 1 |
| Mar 2025March 2025 | $146M | 160 | 10 | 1 |
| Mar 2024March 2024 | $130M | 176 | 10 | 1 |
| Mar 2023March 2023 | $104M | 171 | 10 | 1 |
| Mar 2022March 2022 | $145M | 185 | 8 | 1 |
Besides its headquarters, Allegiance Financial Group has 0 offices, with 1 listed address in 1 state.
Maine · 1 listed address
- 50 Donald B. Dean Drive, Suite One, South PortlandHQ
Contact and registration details
- Legal name
- Allegiance Financial Group, Inc.
- Headquarters
- 50 Donald B. Dean Drive, Suite One, South Portland, ME 04106
- Website
- richardbrothersfinancial.com
- Phone
- 207-879-2352
- SEC file
- 801-122718
- Structure
- Maine corporation
- Fiscal year end
- December
Allegiance Financial Group’s named custodian for separately managed accounts is Pershing ($166M). Allegiance Financial Group does not have custody of client assets.
- PershingPershing Advisor Solutions LLC · Jersey City, NJ · $166M100%
At year end, Allegiance Financial Group’s separately managed accounts were mostly in funds (78%).
What the accounts hold
- Stocks9%
- Funds78%
- Bonds1%
- Cash4%
- Other8%
- Annuities8%
How many clients does Allegiance Financial Group have?
Allegiance Financial Group has 173 clients and manages $181 million for them, as of March 2026. They include 119 individual clients and 54 high-net-worth individuals.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 26 March 2026
What services does Allegiance Financial Group offer?
Allegiance Financial Group provides financial planning, portfolio management for individuals and small businesses, portfolio management for institutions, pension consulting, and selecting other managers.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
Which custodians does Allegiance Financial Group use?
Allegiance Financial Group’s separately managed account assets are held at Pershing Advisor Solutions LLC (Jersey City, NJ), with $166M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 26 March 2026
How many financial advisors does Allegiance Financial Group have?
Allegiance Financial Group has 6 investment adviser representatives registered with state securities authorities, out of 10 employees, and 6 perform investment advisory functions. 7 employees are registered representatives of a broker-dealer and 3 employees are licensed insurance agents.
Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file
What does Allegiance Financial Group invest in?
At the end of its last fiscal year, Allegiance Financial Group’s separately managed accounts held 78% registered funds (mutual funds, ETFs, BDCs), 9% exchange-traded equities, 8% other, 4% cash and equivalents and 1% U.S. government and agency bonds. The 8% other category is described as: Annuities.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Allegiance Financial Group?
Allegiance Financial Group’s direct owners are Neal Richard (50% to 75%) and Randall Richard (50% to 75%).
Source: Form ADV Part 1A, Schedules A and B, filed 26 March 2026
How does Allegiance Financial Group get paid?
Allegiance Financial Group is paid through a percentage of assets under management, hourly charges and fixed fees. Its Form ADV lists no commissions or performance-based fees among how it is paid.
Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file
How do I contact Allegiance Financial Group?
Allegiance Financial Group’s main office is at 50 Donald B. Dean Drive, Suite One, South Portland, ME 04106. Its phone number is 207-879-2352. Its website is richardbrothersfinancial.com.