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They include 5,880 individual clients, 400 high-net-worth individuals, and 196 corporations and other businesses.","source":"Form ADV Part 1A, Items 5.D and 5.F, filed 22 September 2026","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"What services does Sowell Financial Services offer?","answer":"Sowell Financial Services provides financial planning, portfolio management for individuals and small businesses, and selecting other managers.","source":"Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"How much does Sowell Financial Services charge?","answer":"Sowell Financial Services charges up to 2.50% a year for its Investment management fee.","source":"SOWELL FORM ADV PART 2A BROCHURE, filed 22 September 2026","sourceRef":{"doc":"brochure","section":"fees"}},{"question":"Which custodians does Sowell Financial Services use?","answer":"Sowell Financial Services’ separately managed account assets are held at Fidelity Brokerage Services LLC (Smithfield, RI), with $2.99B and Charles Schwab & Co., Inc. (San Francisco, CA), with $1.5B. Only custodians holding at least a tenth of those assets are named.","source":"Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 22 September 2026","sourceRef":{"doc":"adv1","section":"custodians"}},{"question":"How many financial advisors does Sowell Financial Services have?","answer":"Sowell Financial Services has 106 investment adviser representatives registered with state securities authorities, out of 162 employees, and 94 perform investment advisory functions. 4 employees are registered representatives of a broker-dealer and 67 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","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"What does Sowell Financial Services invest in?","answer":"At the end of its last fiscal year, Sowell Financial Services’ separately managed accounts held 47% registered funds (mutual funds, ETFs, BDCs), 32% exchange-traded equities, 11% cash and equivalents, 3% state and local bonds, 3% investment grade corporate bonds, 2% U.S. government and agency bonds, 1% non-exchange-traded equities and 1% pooled vehicles (private funds and similar).","source":"Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"Who owns Sowell Financial Services?","answer":"Sowell Financial Services is owned through a chain of holding companies by William Sowell and Merchant Investment Management Holdings, LLC. Its direct owners are Sowell Management, Inc (25% to 50%) and Merchant Sowell Holdings, LLC (75% or more).","source":"Form ADV Part 1A, Schedules A and B, filed 22 September 2026","sourceRef":{"doc":"adv1","section":"scheduleA"}},{"question":"How does Sowell Financial Services get paid?","answer":"Sowell Financial Services 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","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"Is Sowell Financial Services registered with the SEC?","answer":"Yes, Sowell Financial Services has been registered with the SEC as an investment adviser since 27 May 2005. 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