Sowell Management

• A percentage of assets under your management
• Hourly charges
• Fixed fees (other than subscription fees)

Item 5.E lists how the firm is compensated for its advice; Items 5.B, 6.A, and 7.A show whether its people or related companies can also earn commissions. Percentage of assets, fixed, hourly, subscription, and performance-based fees come from clients (a performance-based fee depends on investment results); commissions come with a sale or a trade, often from the company behind the product. How fees, commissions, and other arrangements differ

Account minimum: $50,000

As stated in the firm's Form ADV Part 2A brochure dated June 22, 2026. Fees can differ by service and may be negotiable; the brochure is the complete statement. Read the brochure on the SEC's IAPD site

$4,808,161,332 as of October 2026, filing dated September 22, 2026.

A measure of scale, not skill or returns. Discretionary means the firm decides trades; non-discretionary means clients approve each one. What assets under management means

A firm with no individual clients is an institutional manager even if it manages billions; the mix tells you whom the practice is built around.

• Financial planning services
• Portfolio management for individuals and/or small businesses
• Selection of other advisers (including private fund managers)

Legal name

Sowell Financial Services, LLC

Also doing business as

10X WEALTH ADVISORS, INC., ADVANCED PLANNING GROUP, ADVISORY FIDUCIARY, AMICUS FINANCIAL, APEX ASSET ADVISORS, LLC, ARGENTUM FINANCIAL COLLECTIVE, BARCLAY BRELAND FAMILY OFFICE, BELLWETHER ADVISORY GROUP, LLC, BRAVERN WEALTH, CAYUCOS WEALTH, CENTRAL COAST WEALTH ADVISORS, LLC, CHARTED CAPITAL, LLC, CLARUS WEALTH MANAGEMENT, CLINTON WEALTH MANAGEMENT, COMPENSATION DESIGNS, DIANNE MAE FINANCIAL, EAGLE EYE ADVISORS, ELLIS WEALTH ADVISORS, EXIGENT WEALTH COUNSELORS LLC, FAGAN FINANCIAL GROUP, FORTRESS FINANCIAL, HARVEST MOON WEALTH ADVISORS, HEARTHWELL FINANCIAL, KUMQUAT, LLC, LANEY WEALTH MANAGEMENT, LIGHTHOUSE WEALTH STRATEGIES, MIDWEST INVESTMENT AND BUSINESS ADVISORS, PLLC, MT. BAKER CAPITAL, L.L.C., NESHER WEALTH, NEST FINANCIAL LLC, NORTH STAR WEALTH MANAGEMENT LLC, NORTHERN CAPITAL MANAGEMENT, POYNTER CAPITAL INC., PRAESIDIUM FINANCIAL ADVISORS, PRESCAP ADVISORS LLC, QURAISHI WEALTH MANAGEMENT, RAYLIANT WEALTH, REAGAN HOLLOWAY, REFLECTIVE WEALTH, RIVERS INVESTMENT GROUP, SAPPHIRE WEALTH MANAGEMENT, SOLERA ASSET MANAGERS, SOLERA ASSET MANAGERS & INSURANCE AGENCY, LLC, SOUTHCOAST FINANCIAL GROUP, SOWELL ADVISORS, SOWELL FINANCIAL ADVISORS, STRATEGIC FINANCIAL PLANNING, LLC, SUNSET WEST ADVISORS, LLC, TREK WEALTH SOLUTIONS, TRIUMPHANT PORTFOLIO MANAGEMENT, LLC, VERDEO FINANCIAL & INSURANCE STRATEGIES, WATTS WEALTH MANAGEMENT, WAYFINDER CAPITAL, LLC, WEALTH IN OVERDRIVE, WEALTH MANAGEMENT PARTNERS, WEALTHCARE ADVISORS, WEAVER CAPITAL ADVISORS, WILLOW OAK WEALTH, WISDOMWEALTH FINANCIAL, XO ADVISORS

Registration

SEC-registered investment adviser. Status as filed: Approved.

Registered since

2005 (21 years)

Employees

Total: 162. Performing investment advisory functions: 94.

Wrap fee program participation

No.

Custodians (Schedule D, Section 5.K(3))

Charles Schwab & Co., Inc.Fidelity Brokerage Services LLC

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.

Other offices (Schedule D, Section 1.F)

28 other offices, as of the October 2026 filing

Albuquerque, NMBeverly Hills, CACamden, ARCastle Rock, COCayucos, CAChattanooga, TNDartmouth, MAEnid, OKFlagstaff, AZGig Harbor, WAGood Hope, GAGranite Bay, CAHouston, TXIndianapolis, INJonesboro, ARJupiter, FLLa Plata, MDLittle Rock, ARLos Angeles, CAMadison, ALMerritt Island, FLNorman, OKRaytown, MORogers, ARSchaumberg, ILScottsdale, AZWest des Moines, IAWilliamsburg, VA

States registered or notice-filed

53 states or jurisdictions

AKALARAZCACOCTDCDEFLGAHIIAIDILINKSKYLAMAMDMEMIMNMOMSMTNCNDNENHNJNMNVNYOHOKORPAPRRISCSDTNTXUTVAVIVTWAWIWVWY

SEC-registered investment advisers are examined by the SEC. SEC, state, and exempt registration

4 Reports 4 disclosure items on Form ADV Item 11. View on IAPD.

Questions answered yes on this filing

Regulatory matters Items 11.C to 11.G

• 11.D(2) 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?
• 11.D(4) 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?
• 11.D(5) Has another federal regulator, a state regulator, or a foreign financial regulator ever denied, suspended, or revoked the registration or license of the firm or an advisory affiliate, prevented either by order from associating with an investment-related business, or restricted either one's activity?
• 11.E(4) Has a self-regulatory organization or a commodities exchange ever disciplined the firm or an advisory affiliate by expelling or suspending it from membership, barring or suspending it from association with other members, or otherwise restricting its activities?

Each question covers the firm and its advisory affiliates: its current employees other than clerical staff, its officers, partners, and directors, and anyone who controls the firm or is controlled by it. One event can produce yes answers to several questions. SEC-registered advisers and exempt reporting advisers may leave out events more than ten years old, and may answer 11.A(2) and 11.B(2) for pending charges only. What happened, and who was involved, is on the Disclosure Reporting Pages of the IAPD record. Reading a firm's disclosures

Regulatory assets under management: $3,171,562,491 in the October 2021 data and $4,808,161,332 in the October 2026 data, up 52%.

Total employees: 160 in October 2021 and 162 in October 2026.

As filed in each year's data for the same month. Assets under management move with markets as well as with clients coming and going; they measure scale, not skill or returns. Most firms update these figures once a year.

1. October 2026
   • Added the business name Fagan Financial Group.
   • Added the business name Advanced Planning Group.
   • Added an office in Jonesboro, AR.
   • Added an office in Merritt Island, FL.
2. August 2026
   • Added the business name Rayliant Wealth.
   • Added the business name Quraishi Wealth Management.
   • Added the business name Praesidium Financial Advisors.
   • Added the business name Northern Capital Management.
3. July 2026
   • Updated its list of owners and control persons (Schedule A).
4. April 2026
   • No longer lists the business name Strategic Planning Corporation.
   • No longer lists the business name Paragon Wealth Counselors.
   • Added the business name Argentum Financial Collective.
   • Added the business name Laney Wealth Management.
   • Added the business name Reflective Wealth.
   • Item 11 disclosure answers changed: 4 yes answers, previously 6 (now no: 11.H(1)(a), 11.H(1)(b)).
   • Employees performing advisory functions went from 87 to 94.
   • Regulatory assets under management went from $4,230,990,937 to $4,808,161,332 (+14%).
   • Changed its office addresses in West des Moines, IA.
   • Changed its office addresses in Williamsburg, VA.
   • Added an office in Beverly Hills, CA.
   • Added an office in Good Hope, GA.
   • Added an office in Granite Bay, CA.
   • No longer lists an office in Roseville, CA.
   • No longer lists an office in Santa Monica, CA.
   • No longer lists an office in Watkinsville, GA.
5. March 2026
   • Item 11 disclosure answers changed: 6 yes answers, previously 7 (now no: 11.D(1)).
6. January 2026
   • No longer lists the business name Cooperative Financial, LLC.
   • No longer lists the business name Catalyst Counselors.
   • Added the business name Hearthwell Financial.
   • Added the business name Bravern Wealth.

Compared month to month from the SEC's monthly adviser data and the state compilation feed. Owners and control persons are summarized, never named.