{
  "crd_number": 106926,
  "slug": "trust-advisory-group-ltd-birmingham-al-106926",
  "primary_business_name": "TRUST ADVISORY GROUP LTD",
  "legal_name": "TRUST ADVISORY GROUP LTD",
  "dbas": [
    "INVESTMENT SECURITIES GROUP",
    "LIFE PATH FINANCIAL SERVICES",
    "MDS FINANCIAL",
    "MORRISTOWN CAPITAL ASSOCIATES LLC",
    "PRIMARY WEALTH CARE PROVIDERS, LLC",
    "SOLARES HILL ADVISORS",
    "STONEX WEALTH MANAGEMENT"
  ],
  "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": "1994-07-25",
  "years_registered": 32,
  "period": "2026-10-01",
  "filing_date": "2026-06-17",
  "carried_forward": false,
  "raum_total": 313523737.0,
  "raum_discretionary": 313523737.0,
  "raum_non_discretionary": 0.0,
  "raum_band": "100m_500m",
  "raum_band_label": "$100 million to $500 million",
  "total_employees": 22,
  "advisory_employees": 22,
  "client_count_bucket": null,
  "clients_by_type": {
    "other": {
      "raum": 0.0,
      "count": 0
    },
    "charitable": {
      "raum": 0.0,
      "count": 0
    },
    "individuals": {
      "raum": 99002605.0,
      "count": 492
    },
    "banking_thrift": {
      "raum": 0.0,
      "count": 0
    },
    "state_municipal": {
      "raum": 0.0,
      "count": 0
    },
    "insurance_companies": {
      "raum": 0.0,
      "count": 0
    },
    "investment_companies": {
      "raum": 0.0,
      "count": 0
    },
    "pension_profit_sharing": {
      "raum": 0.0,
      "count": 0
    },
    "other_investment_advisers": {
      "raum": 0.0,
      "count": 0
    },
    "high_net_worth_individuals": {
      "raum": 214437642.0,
      "count": 70
    },
    "pooled_investment_vehicles": {
      "raum": 0.0,
      "count": 0
    },
    "corporations_other_businesses": {
      "raum": 83490.0,
      "count": 2
    },
    "business_development_companies": {
      "raum": 0.0,
      "count": 0
    },
    "sovereign_wealth_foreign_official": {
      "raum": 0.0,
      "count": 0
    }
  },
  "compensation_types": [
    "fixed",
    "hourly",
    "percentage_of_aum"
  ],
  "advisory_activities": [
    "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": [
    "AL",
    "AZ",
    "CA",
    "CO",
    "CT",
    "DC",
    "DE",
    "FL",
    "GA",
    "IL",
    "IN",
    "KS",
    "KY",
    "MA",
    "MD",
    "ME",
    "MI",
    "NC",
    "NH",
    "NJ",
    "NY",
    "OH",
    "OR",
    "PA",
    "RI",
    "SC",
    "SD",
    "TN",
    "TX",
    "UT",
    "VA",
    "VT",
    "WA",
    "WI"
  ],
  "websites": [
    "https://facebook.com/SAStoneWealth",
    "https://linkedin.com/company/90623235/admin/dashboard",
    "https://linkedin.com/company/sa-stone-wealth-management",
    "https://linkedin.com/showcase/90402889/admin/dashboard",
    "https://morristowncapital.com",
    "https://solareshilladvisors.com",
    "https://stonex.com/en/wealth-management.com",
    "https://trustadvisorygroup.com",
    "https://twitter.com/sastonewealth",
    "https://x.com/StoneX_Official"
  ],
  "iapd_url": "https://adviserinfo.sec.gov/firm/summary/106926",
  "disclosure_items": [
    {
      "item": "11.C(1)",
      "question": "Has the SEC or the CFTC ever found that the firm or an advisory affiliate made a false statement or omission?"
    },
    {
      "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.C(5)",
      "question": "Has the SEC or the CFTC ever imposed a civil money penalty on the firm or an advisory affiliate, or ordered the firm or an advisory affiliate to cease and desist from an activity?"
    }
  ],
  "city_as_filed": "BIRMINGHAM",
  "url": "https://advisorcensus.com/firm/trust-advisory-group-ltd-birmingham-al-106926",
  "display_name": "Trust Advisory Group Ltd",
  "summary": "Trust Advisory Group Ltd is an SEC-registered investment advisory firm in Birmingham, AL, registered since 1994, reporting $100 million to $500 million in regulatory assets under management in its Form ADV filing dated June 17, 2026.",
  "citation": "AdvisorCensus. Trust Advisory Group Ltd (CRD 106926): 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)"
  ],
  "quick_answers": [
    {
      "q": "How is Trust Advisory Group Ltd compensated?",
      "a": "On its Form ADV (Item 5.E, October 2026), Trust Advisory Group Ltd reports these compensation arrangements: a percentage of assets under its management; hourly charges; fixed fees (other than subscription fees)."
    },
    {
      "q": "How much does Trust Advisory Group Ltd charge?",
      "a": "Its Form ADV Part 2A brochure dated March 25, 2026 states: Flat fee: up to $5,000 (Financial Plan for clients with less than $10 million in assets included in…); Flat fee: up to $10,000 (Financial Plan if $10 million or more in assets are included); Hourly rate: $500 an hour (consulting). Fees can differ by service and may be negotiable; the brochure is the complete statement."
    },
    {
      "q": "Where is Trust Advisory Group Ltd located?",
      "a": "Trust Advisory Group Ltd's principal office is in Birmingham, AL, according to its Form ADV; the July 2026 filing also lists 5 other offices (Schedule D, Section 1.F)."
    },
    {
      "q": "Is Trust Advisory Group Ltd registered with the SEC or a state?",
      "a": "Trust Advisory Group Ltd is an SEC-registered investment advisory firm, registered since 1994. Status as filed: Approved. CRD 106926."
    },
    {
      "q": "How much does Trust Advisory Group Ltd manage?",
      "a": "Trust Advisory Group Ltd reports $313,523,737 in regulatory assets under management in its Form ADV filing dated June 17, 2026 (100% discretionary)."
    },
    {
      "q": "How have Trust Advisory Group Ltd's assets and staff changed since 2021?",
      "a": "In the Form ADV data for Trust Advisory Group Ltd: Regulatory assets under management: $512,853,076 in the October 2021 data and $313,523,737 in the October 2026 data, down 39%. Total employees: 51 in October 2021 and 22 in October 2026. Assets under management move with markets as well as with clients coming and going."
    },
    {
      "q": "What types of clients does Trust Advisory Group Ltd serve?",
      "a": "By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (492); high net worth individuals (70); corporations or other businesses not listed above (2)."
    },
    {
      "q": "Which custodians does Trust Advisory Group Ltd use?",
      "a": "Trust Advisory Group Ltd's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Charles Schwab & Co., Inc. and Stonex Financial Inc. as custodians holding 10% or more of its separately managed account assets."
    },
    {
      "q": "Does Trust Advisory Group Ltd report any disciplinary disclosures?",
      "a": "Reports 4 disclosure items on Form ADV Item 11: yes answers to 11.C(1) (SEC or CFTC finding of a false statement or omission), 11.C(2) (SEC or CFTC finding of a violation), 11.C(4) (SEC or CFTC order), and 11.C(5) (SEC or CFTC civil money penalty or cease-and-desist order). 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/106926"
    },
    {
      "q": "What changed in Trust Advisory Group Ltd's recent Form ADV filings?",
      "a": "In the July 2026 filing data: Updated its list of owners and control persons (Schedule A)."
    }
  ],
  "filing_history": [
    {
      "period": "2021-10-01",
      "regulatory_assets_under_management": 512853076.0,
      "total_employees": 51,
      "filing_date": "2021-03-31"
    },
    {
      "period": "2022-10-01",
      "regulatory_assets_under_management": 613580405.0,
      "total_employees": 49,
      "filing_date": "2022-07-22"
    },
    {
      "period": "2023-10-01",
      "regulatory_assets_under_management": 499698033.0,
      "total_employees": 43,
      "filing_date": "2023-09-21"
    },
    {
      "period": "2024-10-01",
      "regulatory_assets_under_management": 560370155.0,
      "total_employees": 43,
      "filing_date": "2024-09-26"
    },
    {
      "period": "2025-10-01",
      "regulatory_assets_under_management": 494407359.0,
      "total_employees": 30,
      "filing_date": "2025-07-29"
    },
    {
      "period": "2026-10-01",
      "regulatory_assets_under_management": 313523737.0,
      "total_employees": 22,
      "filing_date": "2026-06-17"
    }
  ],
  "recent_changes": [
    {
      "period": "2026-07-01",
      "period_label": "July 2026",
      "notes": [
        "Updated its list of owners and control persons (Schedule A)."
      ]
    },
    {
      "period": "2026-04-01",
      "period_label": "April 2026",
      "notes": [
        "No longer lists the business name Starr Investment Services Inc..",
        "No longer lists the business name Paramount Financial Group.",
        "Employees performing advisory functions went from 30 to 22.",
        "Regulatory assets under management went from $494,407,359 to $313,523,737 (-37%).",
        "No longer lists an office in Daniel Island, SC.",
        "No longer lists an office in Haverhill, MA.",
        "No longer lists an office in Lancaster, MA.",
        "No longer lists an office in Nashua, NH.",
        "Updated its list of owners and control persons (Schedule A)."
      ]
    },
    {
      "period": "2025-12-01",
      "period_label": "December 2025",
      "notes": [
        "Registered or notice-filed in KY."
      ]
    }
  ],
  "fees_from_brochure": {
    "source": "Form ADV Part 2A brochure dated March 25, 2026",
    "provided_by_the_firm": false,
    "tiers": [],
    "flat_rate": null,
    "stated_range": null,
    "stated_maximum": null,
    "account_minimum": null,
    "account_minimum_may_be_waived": false,
    "minimum_annual_fee": null,
    "planning_fees": [
      "Flat fee: up to $5,000 (Financial Plan for clients with less than $10 million in assets included in…)",
      "Flat fee: up to $10,000 (Financial Plan if $10 million or more in assets are included)",
      "Hourly rate: $500 an hour (consulting)"
    ],
    "figures": [
      {
        "label": "Planning fee",
        "statements": [
          "Flat fee: up to $5,000 (Financial Plan for clients with less than $10 million in assets included in…)"
        ],
        "quotes": [
          "The maximum Fixed Cost Billing rate for a Financial Plan is generally $5,000 for clients with less than $10 million in assets included in the Financial Plan"
        ]
      },
      {
        "label": "Planning fee",
        "statements": [
          "Flat fee: up to $10,000 (Financial Plan if $10 million or more in assets are included)"
        ],
        "quotes": [
          "The maximum Fixed Cost Billing fee for a Financial Consulting project is generally $10,000."
        ]
      },
      {
        "label": "Planning fee",
        "statements": [
          "Hourly rate: $500 an hour (consulting)"
        ],
        "quotes": [
          "The maximum Hourly Billing consulting fee is $500/hr."
        ]
      }
    ],
    "values": {
      "tiers": [],
      "range_pct": null,
      "max_pct": null,
      "account_minimum": null,
      "minimum_annual_fee": null,
      "planning": [
        {
          "kind": "flat",
          "amount": null,
          "min": null,
          "max": 5000.0,
          "period": "one_time",
          "service": "Financial Plan for clients with less than $10 million in assets included in the Financial Plan"
        },
        {
          "kind": "flat",
          "amount": null,
          "min": null,
          "max": 10000.0,
          "period": "one_time",
          "service": "Financial Plan if $10 million or more in assets are included"
        },
        {
          "kind": "hourly",
          "amount": 500.0,
          "min": null,
          "max": null,
          "period": "hour",
          "service": "consulting"
        }
      ]
    },
    "quotes": [
      "The maximum Fixed Cost Billing rate for a Financial Plan is generally $5,000 for clients with less than $10 million in assets included in the Financial Plan",
      "The maximum Fixed Cost Billing fee for a Financial Consulting project is generally $10,000.",
      "The maximum Hourly Billing consulting fee is $500/hr."
    ],
    "note": "As stated in the firm's brochure; fees can differ by service and may be negotiable."
  },
  "custodians": [
    {
      "name": "Charles Schwab & Co., Inc.",
      "name_as_filed": "CHARLES SCHWAB & CO., INC.",
      "affiliated": false
    },
    {
      "name": "Stonex Financial Inc.",
      "name_as_filed": "STONEX FINANCIAL INC.",
      "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/trust-advisory-group-ltd-birmingham-al-106926.md",
  "clients": [
    {
      "type": "individuals",
      "label": "Individuals (other than high net worth individuals)",
      "count": 492,
      "fewer_than_5": false,
      "raum": 99002605.0
    },
    {
      "type": "high_net_worth_individuals",
      "label": "High net worth individuals",
      "count": 70,
      "fewer_than_5": false,
      "raum": 214437642.0
    },
    {
      "type": "banking_thrift",
      "label": "Banking or thrift institutions",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "investment_companies",
      "label": "Investment companies",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "business_development_companies",
      "label": "Business development companies",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "pooled_investment_vehicles",
      "label": "Pooled investment vehicles (other than investment companies and business development companies)",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "pension_profit_sharing",
      "label": "Pension and profit sharing plans (but not the plan participants or government pension plans)",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "charitable",
      "label": "Charitable organizations",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "state_municipal",
      "label": "State or municipal government entities (including government pension plans)",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "other_investment_advisers",
      "label": "Other investment advisers",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "insurance_companies",
      "label": "Insurance companies",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "sovereign_wealth_foreign_official",
      "label": "Sovereign wealth funds and foreign official institutions",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "corporations_other_businesses",
      "label": "Corporations or other businesses not listed above",
      "count": 2,
      "fewer_than_5": false,
      "raum": 83490.0
    },
    {
      "type": "other",
      "label": "Other",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    }
  ],
  "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/106926",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}