Hot Springs, AR Office

Team
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Stephens

Multi-team

Firm-wide stats for Stephens

Total advisors

243

Across 38 offices

Clients per advisor

87 High

Avg AUM per client

$672,559 Typical

HNW client ratio

15% Typical

About

Stephens is a multi-team investment adviser with roughly 243 advisors and about $18 billion in assets under management that serves individuals (including high-net-worth clients), retirement plans, foundations, corporations and other institutional clients. In addition to advisory services and financial planning, the firm provides brokerage, investment banking, custody and wrap program platforms and publishes research and client communications produced by its Equity Research group.

The firm offers both discretionary and non-discretionary management across a wide suite of wrap and advisory programs (for example, PWM, SAS, MAP, UMA, SMID and fixed-income strategies) and uses investment committees and IARs to select funds, sub-advisors and model portfolios. Stephens combines bottom-up equity research (covering roughly 400 stocks) with committee-driven asset-allocation and fixed-income duration management, and it also advises on private equity and alternative investments when appropriate.

Compared with many peers, Stephens operates as a dually registered broker-dealer and investment bank and also provides municipal advisory services and sponsors pension and health trust programs for local governments, activities that are uncommon among multi-team advisers. The firm discloses a number of atypical features — including the ability to receive commissions in certain brokerage contexts, revenue-sharing and clearing arrangements with Pershing, an insured bank sweep program administered with IntraFi, availability of performance-based fee arrangements in qualifying cases, relationships with bank and insurance clients, and a prior SEC cease-and-desist order related to mutual fund share-class selection.

Based on Stephens

Expertise

Private / alternative investments Active portfolio management

Based on Stephens

Occupation focus

Executive Founder/Business Owner

Based on Stephens

Location

161 Television Hill Road

Hot Springs AR 71913

Advisors at this office

5

Advisors at this office

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Daniel B

Series 63, Series 65

Hot Springs, AR

Stephens

Daniel Belz is a financial advisor at Stephens with 45 years of industry experience. He has held his current position since 2006. He holds Series 63 and Series 65 licenses and is based in Hot Springs, Arkansas. Stephens is a multi-team investment adviser with approximately 243 advisors and $18 billion in assets under management. The firm serves individuals, retirement plans, foundations, corporations, and other institutional clients, offering a range of advisory and brokerage services supported by in-depth equity research and a comprehensive suite of investment strategies.

Private / alternative investments Active portfolio management Executive Founder/Business Owner
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Frederick B

Series 63, Series 65

Hot Springs, AR

Stephens

Frederick Blagg is a financial advisor at Stephens with 36 years of industry experience. He holds Series 63 and Series 65 designations and has been with Stephens since 1999. The firm serves a broad client base including individuals, retirement plans, foundations, corporations, and institutional clients. Stephens employs a multi-team approach, combining bottom-up equity research with committee-driven asset allocation and offers a range of discretionary and non-discretionary management programs.

Private / alternative investments Active portfolio management Executive Founder/Business Owner
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Richard W

Series 66

Hot Springs, AR

Stephens

Richard Wethington is a Series 66 licensed financial advisor with 20 years of industry experience. He is currently with Stephens, having joined the firm in 2025. His prior experience includes roles at Sowell Management, LPL Financial, and Morgan Stanley, among others. Outside of his advisory work, Wethington serves as Treasurer of the HOPE WORKS Job Experience Program and Secretary of the Humane Society of Garland County, both nonprofit organizations in Hot Springs, Arkansas. Stephens is a multi-team investment adviser with approximately 243 advisors and $18 billion in assets under management, serving individuals, retirement plans, foundations, corporations, and institutional clients. The firm offers a range of advisory, brokerage, investment banking, and custody services, employing a combination of bottom-up equity research and committee-driven asset allocation across diverse investment strategies.

Private / alternative investments Active portfolio management Executive Founder/Business Owner
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Richard L

CFP®, Series 66

Hot Springs, AR

Stephens

Richard Leeper is a CFP® professional affiliated with Stephens, with 11 years of experience in the financial industry. He has worked exclusively at Stephens since 2015. Stephens is a multi-team investment adviser with approximately 243 advisors and $18 billion in assets under management. The firm serves individuals, retirement plans, foundations, corporations, and institutional clients, offering a range of advisory, brokerage, investment banking, and custody services supported by extensive equity research and committee-driven investment management.

Private / alternative investments Active portfolio management Executive Founder/Business Owner
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Julie S

Series 66

Hot Springs, AR

Stephens

Julie Sanders is a financial advisor at Stephens with 18 years of industry experience. She holds a Series 66 designation and has worked at Stephens since 2013, following five years at Wells Fargo Clearing. Stephens is a multi-team investment adviser with approximately 243 advisors and $18 billion in assets under management. The firm serves individuals, retirement plans, foundations, corporations, and institutional clients, offering a range of advisory and brokerage services alongside investment banking and research capabilities.

Private / alternative investments Active portfolio management Executive Founder/Business Owner
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