# The Welch Group, LLC

> The Welch Group, LLC is an SEC-registered investment advisory firm in Birmingham, AL, registered since 1999, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated August 31, 2026.

- CRD: 111273
- Filed as: THE WELCH GROUP, LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Birmingham, AL
- Filing period: October 2026
- Form ADV filing dated: August 31, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/111273
- AdvisorCensus page: https://advisorcensus.com/firm/the-welch-group-llc-birmingham-al-111273

## Quick answers

**How is The Welch Group, LLC compensated?**
On its Form ADV (Item 5.E, October 2026), The Welch Group, LLC reports these compensation arrangements: a percentage of assets under its management; hourly charges; fixed fees (other than subscription fees).

**What does The Welch Group, LLC's brochure say about its fees?**
Its Form ADV Part 2A brochure dated February 26, 2026 states: Asset-based fee: 0.3% to 1.2% a year (a range, as the brochure states it). Fees can differ by service and may be negotiable; the brochure is the complete statement.

**Where is The Welch Group, LLC located?**
The Welch Group, LLC's principal office is in Birmingham, AL, according to its Form ADV.

**Is The Welch Group, LLC registered with the SEC or a state?**
The Welch Group, LLC is an SEC-registered investment advisory firm, registered since 1999. Status as filed: Approved. CRD 111273.

**How much does The Welch Group, LLC manage?**
The Welch Group, LLC reports $3,682,452,369 in regulatory assets under management in its Form ADV filing dated August 31, 2026 (100% discretionary).

**How have The Welch Group, LLC's assets and staff changed since 2021?**
In the Form ADV data for The Welch Group, LLC: Regulatory assets under management: $1,910,586,230 in the October 2021 data and $3,682,452,369 in the October 2026 data, up 93%. Total employees: 18 in October 2021 and 28 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does The Welch Group, LLC serve?**
By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (726); high net worth individuals (690); charitable organizations (29).

**Which custodians does The Welch Group, LLC use?**
The Welch Group, LLC'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 The Welch Group, LLC 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/111273

**What changed in The Welch Group, LLC's recent Form ADV filings?**
In the September 2026 filing data: Registered or notice-filed in CO.

## From the Form ADV filing

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

### Fees and minimums (Form ADV Part 2A brochure dated February 26, 2026)

- Asset-based fee: 0.3% to 1.2% a year (a range, as the brochure states it)

> The investment management fee shall generally vary between 0.30% and 1.20% as follows:

> The Welch Group's annual investment advisory fee is based upon a percentage (%) of the market value of the assets placed under its management, generally between 0.30% and 1.20%.

As stated in the firm's brochure. Fees can differ by service and may be negotiable.

### 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: $3,682,452,369
- Discretionary: $3,682,452,369
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 726 | $291,139,935 |
| High net worth individuals | 690 | $3,353,193,397 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 5 | $10,886,504 |
| Charitable organizations | 29 | $27,232,533 |

### 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
- Selection of other advisers (including private fund managers)
- Other

### Firm details
- Registered since: 1999 (27 years)
- Employees: 28 total, 26 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: AL, CA, CO, FL, GA, KY, LA, MS, NC, NY, PA, SC, TN, TX, VA
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- welchgroup.com
- Facebook @thewelchgroup
- Instagram @thewelchgroupllc
- LinkedIn @the-welch-group-llc
- YouTube @StewartWelchIII

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $1,910,586,230 | 18 | September 29, 2021 |
| October 2022 | $2,449,942,225 | 20 | August 1, 2022 |
| October 2023 | $2,522,233,225 | 25 | July 19, 2023 |
| October 2024 | $2,759,780,587 | 23 | February 22, 2024 |
| October 2025 | $3,212,010,865 | 25 | February 24, 2025 |
| October 2026 | $3,682,452,369 | 28 | August 31, 2026 |

Regulatory assets under management: $1,910,586,230 in the October 2021 data and $3,682,452,369 in the October 2026 data, up 93%.
Total employees: 18 in October 2021 and 28 in October 2026.

## Changes in the filing (last 12 months)

### September 2026
- Registered or notice-filed in CO.

### August 2026
- Registered or notice-filed in KY.

### April 2026
- Item 11 disclosure answers changed: 0 yes answers, previously 1 (now no: 11.A(2)).

### March 2026
- Employees performing advisory functions went from 24 to 26.
- Regulatory assets under management went from $3,212,010,865 to $3,682,452,369 (+15%).
- Updated its list of owners and control persons (Schedule A).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. The Welch Group, LLC (CRD 111273): Form ADV filing data as of October 2026.