{ "crd_number": 17870, "slug": "lanark-financial-inc-birmingham-al-17870", "primary_business_name": "LANARK FINANCIAL, INC.", "legal_name": "LANARK FINANCIAL, INC.", "dbas": [ "ADVANCED WEALTH PLANNING GROUP", "ALDYN CAPITAL INVESTMENT AND ADVISORY SERVICES", "BRUCE HAGAN", "FIRST STATE FINANCIAL MANAGEMENT", "NORTH SHORE WEALTH MANAGEMENT GROUP, LLC" ], "city": "Birmingham", "state": "AL", "country": "United States", "cbsa_code": "13820", "metro": { "cbsa_code": "13820", "common_name": "Birmingham", "msa_name": "Birmingham, AL", "path": "/advisors/al/birmingham" }, "registration_type": "sec", "registration_status": "Approved", "registration_date": "2001-01-03", "years_registered": 25, "period": "2026-10-01", "filing_date": "2026-09-25", "carried_forward": false, "raum_total": 1784817450.0, "raum_discretionary": 795125084.0, "raum_non_discretionary": 989692366.0, "raum_band": "1b_5b", "raum_band_label": "$1 billion to $5 billion", "total_employees": 68, "advisory_employees": 63, "client_count_bucket": null, "clients_by_type": { "charitable": { "raum": 89143893.0, "count": 21 }, "individuals": { "raum": 882039088.0, "count": 3228 }, "banking_thrift": { "raum": null, "count": 0 }, "pension_profit_sharing": { "raum": 21234088.0, "count": 12 }, "high_net_worth_individuals": { "raum": 695926119.0, "count": 280 }, "corporations_other_businesses": { "raum": 96474262.0, "count": 35 } }, "compensation_types": [ "fixed", "hourly", "percentage_of_aum" ], "advisory_activities": [ "educational_seminars", "financial_planning", "pension_consulting", "portfolio_management_businesses_institutional", "portfolio_management_individuals", "selection_of_other_advisers" ], "wrap_fee_participant": false, "disclosure_yes_count": 4, "states_registered": [ "AK", "AL", "AR", "AZ", "CA", "CO", "CT", "DC", "DE", "FL", "GA", "HI", "IA", "ID", "IL", "IN", "KS", "KY", "LA", "MA", "MD", "ME", "MI", "MN", "MO", "MS", "MT", "NC", "ND", "NE", "NH", "NJ", "NM", "NV", "NY", "OH", "OK", "OR", "PA", "PR", "RI", "SC", "SD", "TN", "TX", "UT", "VA", "VI", "VT", "WA", "WI", "WV", "WY" ], "websites": [ "https://facebook.com/nbcsec", "https://linkedin.com/company/nbcsecurities", "https://nbcsecurities.com", "https://x.com/nbc_securities" ], "iapd_url": "https://adviserinfo.sec.gov/firm/summary/17870", "disclosure_items": [ { "item": "11.C(2)", "question": "Has the SEC or the CFTC ever found that the firm or an advisory affiliate was involved in a violation of SEC or CFTC regulations or statutes?" }, { "item": "11.C(4)", "question": "Has the SEC or the CFTC ever entered an order against the firm or an advisory affiliate in connection with investment-related activity?" }, { "item": "11.D(2)", "question": "Has another federal regulator, a state regulator, or a foreign financial regulator ever found that the firm or an advisory affiliate was involved in a violation of investment-related regulations or statutes?" }, { "item": "11.D(4)", "question": "In the past ten years, has another federal regulator, a state regulator, or a foreign financial regulator entered an order against the firm or an advisory affiliate in connection with investment-related activity?" } ], "city_as_filed": "BIRMINGHAM", "url": "https://advisorcensus.com/firm/lanark-financial-inc-birmingham-al-17870", "display_name": "Lanark Financial, Inc.", "summary": "Lanark Financial, Inc. is an SEC-registered investment advisory firm in Birmingham, AL, registered since 2001, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated September 25, 2026.", "citation": "AdvisorCensus. Lanark Financial, Inc. (CRD 17870): Form ADV filing data as of October 2026.", "registration_type_label": "SEC-registered investment adviser", "compensation_labels": [ "A percentage of assets under your management", "Hourly charges", "Fixed fees (other than subscription fees)" ], "advisory_activity_labels": [ "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", "Selection of other advisers (including private fund managers)", "Educational seminars/workshops" ], "quick_answers": [ { "q": "How is Lanark Financial, Inc. compensated?", "a": "On its Form ADV (Item 5.E, October 2026), Lanark Financial, Inc. reports these compensation arrangements: a percentage of assets under its management; hourly charges; fixed fees (other than subscription fees)." }, { "q": "How much does Lanark Financial, Inc. charge?", "a": "Its Form ADV Part 2A brochure dated June 30, 2026 states: Asset-based fee: 0.5% to 2.5% a year (a range, as the brochure states it). Fees can differ by service and may be negotiable; the brochure is the complete statement." }, { "q": "Where is Lanark Financial, Inc. located?", "a": "Lanark Financial, Inc.'s principal office is in Birmingham, AL, according to its Form ADV; the October 2026 filing also lists 24 other offices (Schedule D, Section 1.F)." }, { "q": "Is Lanark Financial, Inc. registered with the SEC or a state?", "a": "Lanark Financial, Inc. is an SEC-registered investment advisory firm, registered since 2001. Status as filed: Approved. CRD 17870." }, { "q": "How much does Lanark Financial, Inc. manage?", "a": "Lanark Financial, Inc. reports $1,784,817,450 in regulatory assets under management in its Form ADV filing dated September 25, 2026 (45% discretionary)." }, { "q": "How have Lanark Financial, Inc.'s assets and staff changed since 2021?", "a": "In the Form ADV data for Lanark Financial, Inc.: Regulatory assets under management: $1,514,897,256 in the October 2021 data and $1,784,817,450 in the October 2026 data, up 18%. Total employees: 80 in October 2021 and 68 in October 2026. Assets under management move with markets as well as with clients coming and going." }, { "q": "What types of clients does Lanark Financial, Inc. serve?", "a": "By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (3,228); high net worth individuals (280); corporations or other businesses not listed above (35)." }, { "q": "Which custodians does Lanark Financial, Inc. use?", "a": "Lanark Financial, Inc.'s most recent Form ADV filing (Schedule D, Section 5.K(3)) lists RBC Capital Markets, LLC as a custodian holding 10% or more of its separately managed account assets." }, { "q": "Does Lanark Financial, Inc. report any disciplinary disclosures?", "a": "Reports 4 disclosure items on Form ADV Item 11: yes answers to 11.C(2) (SEC or CFTC finding of a violation), 11.C(4) (SEC or CFTC order), 11.D(2) (another regulator's finding of a violation), and 11.D(4) (another regulator's order in the past ten years). Each question covers the firm and its advisory affiliates, and one event can produce several yes answers. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/17870" }, { "q": "What changed in Lanark Financial, Inc.'s recent Form ADV filings?", "a": "In the July 2026 filing data: Changed its legal name from NBC Securities, Inc. to Lanark Financial, Inc.. Updated its list of owners and control persons (Schedule A)." } ], "filing_history": [ { "period": "2021-10-01", "regulatory_assets_under_management": 1514897256.0, "total_employees": 80, "filing_date": "2021-01-26" }, { "period": "2022-10-01", "regulatory_assets_under_management": 1983436281.0, "total_employees": 90, "filing_date": "2022-03-22" }, { "period": "2023-10-01", "regulatory_assets_under_management": 1383786365.0, "total_employees": 95, "filing_date": "2023-03-30" }, { "period": "2024-10-01", "regulatory_assets_under_management": 1695739514.0, "total_employees": 68, "filing_date": "2024-06-12" }, { "period": "2025-10-01", "regulatory_assets_under_management": 1715376867.0, "total_employees": 68, "filing_date": "2025-01-20" }, { "period": "2026-10-01", "regulatory_assets_under_management": 1784817450.0, "total_employees": 68, "filing_date": "2026-09-25" } ], "recent_changes": [ { "period": "2026-07-01", "period_label": "July 2026", "notes": [ "Changed its legal name from NBC Securities, Inc. to Lanark Financial, Inc..", "Updated its list of owners and control persons (Schedule A)." ] }, { "period": "2026-04-01", "period_label": "April 2026", "notes": [ "Employees performing advisory functions went from 39 to 63.", "Added the business name Bruce Hagan.", "Added the business name Advanced Wealth Planning Group.", "Added the business name First State Financial Management.", "Added the business name North Shore Wealth Management Group, LLC.", "Added the business name Aldyn Capital Investment and Advisory Services.", "Changed its office addresses in Birmingham, AL.", "Changed its office addresses in Dubuque, IA.", "Changed its office addresses in Fairhope, AL.", "Changed its office addresses in Granville, OH.", "Changed its office addresses in Huntsville, AL.", "Changed its office addresses in Priceville, AL.", "Changed its office addresses in Summit, NJ.", "Changed its office addresses in Tampa, FL.", "Added an office in Cape Girardeau, MO.", "Added an office in Columbia, MO.", "Added an office in Farmington, MO.", "Added an office in Imperial, MO.", "Added an office in Jackson, MO.", "Added an office in Lebanon, MO.", "Added an office in Louisville, KY.", "Added an office in Perryville, MO.", "Added an office in Ste Genevieve, MO.", "Added an office in Washington, MO.", "No longer lists an office in Brentwood, TN.", "No longer lists an office in Columbia, TN.", "No longer lists an office in Lake Mary, FL.", "No longer lists an office in Leawood, KS.", "No longer lists an office in Santa Rosa, CA.", "No longer lists an office in Sarasota, FL.", "No longer lists an office in Sebring, FL.", "No longer lists an office in Stuart, FL.", "No longer lists an office in Winter Haven, FL.", "No longer lists an office in Zephyrhills, FL.", "Updated its list of owners and control persons (Schedule A)." ] }, { "period": "2026-01-01", "period_label": "January 2026", "notes": [ "Updated its list of owners and control persons (Schedule A)." ] }, { "period": "2025-12-01", "period_label": "December 2025", "notes": [ "Updated its list of owners and control persons (Schedule A)." ] } ], "fees_from_brochure": { "source": "Form ADV Part 2A brochure dated June 30, 2026", "provided_by_the_firm": false, "tiers": [], "flat_rate": null, "stated_range": "0.5% to 2.5% a year", "stated_maximum": null, "account_minimum": null, "account_minimum_may_be_waived": false, "minimum_annual_fee": null, "planning_fees": [], "figures": [ { "label": "Asset-based fee", "statements": [ "Asset-based fee: 0.5% to 2.5% a year (a range, as the brochure states it)" ], "quotes": [ "Advisory Fees will generally range from .50% to 2.50% annually based on the Investment Manager selected by the Client, the total market value of assets in the Client's overall investment portfolio, and the complexity of Advisory Services." ] } ], "values": { "tiers": [], "range_pct": [ 0.5, 2.5 ], "max_pct": null, "account_minimum": null, "minimum_annual_fee": null, "planning": [] }, "quotes": [ "Advisory Fees will generally range from .50% to 2.50% annually based on the Investment Manager selected by the Client, the total market value of assets in the Client's overall investment portfolio, and the complexity of Advisory Services." ], "note": "As stated in the firm's brochure; fees can differ by service and may be negotiable." }, "custodians": [ { "name": "RBC Capital Markets, LLC", "name_as_filed": "RBC CAPITAL MARKETS, LLC", "affiliated": false } ], "custodians_note": "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.", "markdown_url": "https://advisorcensus.com/firm/lanark-financial-inc-birmingham-al-17870.md", "clients": [ { "type": "individuals", "label": "Individuals (other than high net worth individuals)", "count": 3228, "fewer_than_5": false, "raum": 882039088.0 }, { "type": "high_net_worth_individuals", "label": "High net worth individuals", "count": 280, "fewer_than_5": false, "raum": 695926119.0 }, { "type": "banking_thrift", "label": "Banking or thrift institutions", "count": 0, "fewer_than_5": false, "raum": null }, { "type": "pension_profit_sharing", "label": "Pension and profit sharing plans (but not the plan participants or government pension plans)", "count": 12, "fewer_than_5": false, "raum": 21234088.0 }, { "type": "charitable", "label": "Charitable organizations", "count": 21, "fewer_than_5": false, "raum": 89143893.0 }, { "type": "corporations_other_businesses", "label": "Corporations or other businesses not listed above", "count": 35, "fewer_than_5": false, "raum": 96474262.0 } ], "disclosure_line": "Reports 4 disclosure items on Form ADV Item 11.", "indexable": true, "suppressed": false, "claimed": false, "enhanced": false, "provided_by_the_firm": null, "source": { "name": "Form ADV", "as_of": "2026-10-01", "iapd_url": "https://adviserinfo.sec.gov/firm/summary/17870", "operator": "BH Monitor Services, LLC", "license": "https://creativecommons.org/licenses/by/4.0/", "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data" } }