FLP Wealth Management provides financial planning, portfolio management for individuals and small businesses, pension consulting, selecting other managers, and educational seminars. Financial planning was provided to 251–500 clients last fiscal year.
FLP Wealth Management reports 341 clients. They include 294 individual clients, 33 high-net-worth individuals, and 13 pension and profit-sharing plans. Of its assets, 98.4% ($166M across 813 accounts) are managed with discretion; $2.74M across 23 accounts are not. A wrap fee program the firm both sponsors and manages holds $32.8M.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 86% | 55% |
| High-net-worth individuals | 10% | 40% |
| Pension and profit-sharing plans | 4% | 4% |
| Corporations and other businesses | <1% | <1% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 294 | $93.8M | 55.5% | $319K |
| High-net-worth individuals | 33 | $67.8M | 40.1% | $2.06M |
| Pension and profit-sharing plans | 13 | $6.99M | 4.1% | $537K |
| Corporations and other businesses | 1 | $534K | 0.3% | $534K |
| Total | 341 | $169M | 100% | $496K |
- Clients
- 294
- Regulatory AUM
- $93.8M
- AUM share
- 55.5%
- Avg. per client
- $319K
- Clients
- 33
- Regulatory AUM
- $67.8M
- AUM share
- 40.1%
- Avg. per client
- $2.06M
- Clients
- 13
- Regulatory AUM
- $6.99M
- AUM share
- 4.1%
- Avg. per client
- $537K
- Clients
- 1
- Regulatory AUM
- $534K
- AUM share
- 0.3%
- Avg. per client
- $534K
Total
- Clients
- 341
- Regulatory AUM
- $169M
- AUM share
- 100%
- Avg. per client
- $496K
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 0
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 251–500
FLP Wealth Management 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 3 other services, listed under fee details.
Fee details and sources
Other fees
- Financial consulting
- Financial consulting is a fixed fee of $400 to $10,000, or hourly at $200 an hour against a retainer.
- Financial planning
- Financial planning is a fixed fee of at least $400 and no more than $10,000, set in the client agreement.
- Retirement plan services
- Retirement plan fees are negotiable and based on plan assets; the example schedule runs from 1.00% on the first $250,000 to 0.35% above $5,000,000.
David Welborn owns 75% or more of FLP Wealth Management. The leadership team of FLP Wealth Management includes Chief Compliance Officer David Welborn. It has 3 employees.
Staff
- 3 employees
- 3 in advisory functions
- 3 state-registered reps
- 3 insurance agents
- Owns 75% or more of FLP Wealth Management, LLC
David Welborn
Control person · since February 2018
FLP Wealth Management’s regulatory assets grew 1.5× from $112M (June 2024) to $169M (August 2026); clients rose from 282 to 341 and employees were 3 in both filings.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | StaffEmployees | Offices |
|---|---|---|---|---|
| Aug 2026August 2026 | $169M | 341 | 3 | 2 |
| Feb 2025February 2025 | $136M | 325 | 3 | 2 |
| Jun 2024June 2024 | $112M | 282 | 3 | 2 |
Besides its headquarters, FLP Wealth Management has 1 office, with 2 listed addresses across 2 states.
Arkansas · 1 listed address
- 1003 Se 14th St., Ste 15, BentonvilleHQ
Louisiana · 1 listed address
- 101 La Rue France, Lafayette
Other business names
FLP Wealth Management has reported 1 other business name to the SEC.
- F.W. Miller Financial
Contact and registration details
- Legal name
- FLP Wealth Management, LLC
- Headquarters
- 1003 Se 14th St., Ste 15, Bentonville, AR 72712
- Website
- familylegacyplanning.com
- Phone
- 479-273-3040
- SEC file
- 801-130790
- Structure
- Arkansas LLC
- Fiscal year end
- December
FLP Wealth Management’s named custodians for separately managed accounts are Fidelity ($134M, 81%) and Charles Schwab ($32.2M, 19%). FLP Wealth Management does not have custody of client assets.
- Charles SchwabCharles Schwab & Co., Inc. · Westlake, TX · $32.2M19%
- FidelityFidelity Brokerage Services LLC · Boston, MA · $134M81%
At year end, FLP Wealth Management’s separately managed accounts were mostly in funds (64%) and stocks (32%). Its reported 13F holdings for the quarter ended 30 June 2026 total $56.2M across 65 positions; the largest are Walmart Inc. (11.1%), Capitol Ser TR (4.8%) and iShares TR (4.1%).
What the accounts hold
- Stocks32%
- Funds64%
- Bonds1%
- Cash2%
Filed values cover 99%. The neutral 1% gap has no reported category.
How many clients does FLP Wealth Management have?
FLP Wealth Management has 341 clients and manages $169 million for them, as of August 2026. They include 294 individual clients, 33 high-net-worth individuals, and 13 pension and profit-sharing plans.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 14 August 2026
What services does FLP Wealth Management offer?
FLP Wealth Management provides financial planning, portfolio management for individuals and small businesses, pension consulting, selecting other managers, and educational seminars.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
Which custodians does FLP Wealth Management use?
FLP Wealth Management’s separately managed account assets are held at Fidelity Brokerage Services LLC (Boston, MA), with $134M and Charles Schwab & Co., Inc. (Westlake, TX), with $32.2M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 14 August 2026
How many financial advisors does FLP Wealth Management have?
FLP Wealth Management has 3 investment adviser representatives registered with state securities authorities, out of 3 employees, and 3 perform investment advisory functions. 0 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 FLP Wealth Management invest in?
At the end of its last fiscal year, FLP Wealth Management’s separately managed accounts held 64% registered funds (mutual funds, ETFs, BDCs), 32% exchange-traded equities, 2% cash and equivalents and 1% state and local bonds.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns FLP Wealth Management?
FLP Wealth Management’s direct owner is David Welborn (75% or more).
Source: Form ADV Part 1A, Schedules A and B, filed 14 August 2026
How does FLP Wealth Management get paid?
FLP Wealth Management 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 FLP Wealth Management?
FLP Wealth Management’s main office is at 1003 Se 14th St., Ste 15, Bentonville, AR 72712. Its phone number is 479-273-3040. Its website is familylegacyplanning.com.
