# Brown Financial Advisory

> Brown Financial Advisory is an SEC-registered investment advisory firm in Fairhope, AL, registered since 2014, reporting $100 million to $500 million in regulatory assets under management in its Form ADV filing dated March 12, 2026.

- CRD: 155548
- Filed as: BROWN FINANCIAL ADVISORY
- Legal name: Brown McLeod, Inc
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Fairhope, AL
- Filing period: October 2026
- Form ADV filing dated: March 12, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/155548
- AdvisorCensus page: https://advisorcensus.com/firm/brown-financial-advisory-fairhope-al-155548

## Quick answers

**How is Brown Financial Advisory compensated?**
On its Form ADV (Item 5.E, October 2026), Brown Financial Advisory reports these compensation arrangements: a percentage of assets under its management; hourly charges; fixed fees (other than subscription fees). The amounts are in Item 5 of its Form ADV Part 2A brochure.

**Where is Brown Financial Advisory located?**
Brown Financial Advisory's principal office is in Fairhope, AL, according to its Form ADV; the April 2026 filing also lists 1 other office (Schedule D, Section 1.F).

**Is Brown Financial Advisory registered with the SEC or a state?**
Brown Financial Advisory is an SEC-registered investment advisory firm, registered since 2014. Status as filed: Approved. CRD 155548.

**How much does Brown Financial Advisory manage?**
Brown Financial Advisory reports $468,223,225 in regulatory assets under management in its Form ADV filing dated March 12, 2026 (99% discretionary).

**How have Brown Financial Advisory's assets and staff changed since 2021?**
In the Form ADV data for Brown Financial Advisory: Regulatory assets under management: $231,658,229 in the October 2021 data and $468,223,225 in the October 2026 data, up 102%. Total employees: 6 in October 2021 and 8 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Brown Financial Advisory serve?**
By number of clients on Form ADV Item 5.D: high net worth individuals (154); individuals (other than high net worth individuals) (121); pension and profit sharing plans (but not the plan participants or government pension plans) (7).

**Which custodians does Brown Financial Advisory use?**
Brown Financial Advisory's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Charles Schwab & Co., Inc. as a custodian holding 10% or more of its separately managed account assets.

**Does Brown Financial Advisory report any disciplinary disclosures?**
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/155548

**What changed in Brown Financial Advisory's recent Form ADV filings?**
In the April 2026 filing data: Regulatory assets under management went from $344,026,037 to $468,223,225 (+36%). Registered or notice-filed in SC.

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Hourly charges
- Fixed fees (other than subscription fees)

### Custodians (Schedule D, Section 5.K(3))
- Charles Schwab & Co., Inc.

Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.

### Regulatory assets under management (Item 5.F)
- Total: $468,223,225
- Discretionary: $464,229,788
- Non-discretionary: $3,993,437

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 121 | $59,348,252 |
| High net worth individuals | 154 | $389,033,602 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 7 | $13,118,747 |
| Corporations or other businesses not listed above | 6 | $6,722,624 |

### Advisory services (Item 5.G)
- Financial planning services
- Portfolio management for individuals and/or small businesses
- Portfolio management for businesses (other than small businesses) or institutional clients
- Pension consulting services

### Firm details
- Registered since: 2014 (12 years)
- Employees: 8 total, 6 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: AL, FL, LA, MS, NC, SC, TX
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Other offices (Schedule D, Section 1.F), as of the April 2026 filing
- Mobile, AL

### Websites listed on Form ADV (Item 1.I)
- brownfinancialadvisory.com
- LinkedIn @4003588
- YouTube @UC1Oj2dNi56KtwYrxTcUlrOQ

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $231,658,229 | 6 | September 16, 2021 |
| October 2022 | $285,323,337 | 6 | March 15, 2022 |
| October 2023 | $251,053,411 | 6 | September 12, 2023 |
| October 2024 | $300,769,749 | 7 | September 19, 2024 |
| October 2025 | $344,026,037 | 7 | April 24, 2025 |
| October 2026 | $468,223,225 | 8 | March 12, 2026 |

Regulatory assets under management: $231,658,229 in the October 2021 data and $468,223,225 in the October 2026 data, up 102%.
Total employees: 6 in October 2021 and 8 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Regulatory assets under management went from $344,026,037 to $468,223,225 (+36%).
- Registered or notice-filed in SC.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Brown Financial Advisory (CRD 155548): Form ADV filing data as of October 2026.