Sowell Management Launches Advisor Equity Program, Following Backing from Merchant
Arkansas-based RIA Sowell Management has launched its advisor partnership program, after the firm received an undisclosed minority equity stake from private equity firm Merchant.
Sowell Management’s newly launched equity program allows its new and existing advisors to gain access to opportunities that provide resources and capital for bolstering their practices.
Merchant’s minority stake in Sowell will go towards funding the program and will also be used to grow its technology and investment management capabilities, along withaccelerating the firm’s M&A strategy.
Through the stake, Merchant will also provide Sowell with back office operational and administrative services, which will allow advisors to dedicate more time to their clients.
“As we considered the next chapter of our growth, we wanted to demonstrate our appreciation for our advisors’ loyalty and their dedication to serving clients with distinction, while giving them additional incentive to support the ongoing success of the firm,” Daryl Seaton, CEO of Sowell Management, said. “We created our Advisor Partnership Program to ensure it reflected the values and culture that have made Sowell a unique presence in the RIA space for the past 25 years.”
Specific terms of the deal were not disclosed.
Sowell’s recent announcement comes after the firm recently launched Cache River Private Wealth, a new unit, which targets affluent clients, who have accumulated a net worth of $5 million or more in investable assets.
The division will let existing Sowell advisors access “advanced planning” capabilities across investments ranging from business succession, tax strategies and estate planning.
Sowell Management is majority-owned by founder and financial advisor Bill Sowell and his wife, Cindy, who serves as the firm’s EVP.
In January, Sowell named Seaton as CEO, as part of the firm’s succession plan, and Sowell assumed the role of chief strategy officer. Seaton had been with Sowell since 2020, where he joined as COO and was named president in 2023.
Little Rock, AR-based Sowell Management, founded in 2001, manages $6.5 billion in assets under management as of March, the firm said.
Pictured: Bill Sowell
