Witter & Lester Inc
Data sourced from SEC public records (and other sources when available). Refreshed weekly • Updated today.
About
Witter & Lester, Inc. provides discretionary investment supervisory services and model-based asset management programs for individual clients and a broad set of institutional client types described in its brochure. The firm reports approximately $6.54 million in discretionary assets under management and is managed by two principals who currently serve a very small client base (four clients).
The firm’s investment approach emphasizes computer modeling of market indices, seasonal patterns, and both fundamental and technical indicators to set recommended exposure, using stocks, ETFs, bonds, and mutual funds; the adviser may also execute short sales within discretionary accounts. Portfolios are maintained through distinct investment programs under the direction of a principal investment manager, and accounts are subject to at least quarterly review for performance and suitability.
Compared with peers, Witter & Lester’s combination of modest AUM and an unusually concentrated client roster is notable alongside a quantitatively oriented, seasonality-driven trading process and principals with backgrounds in banking/trust and operations research. Operationally the brochure discloses that the firm does not participate in wrap fee programs, does not accept commissions or soft dollars, does not vote client proxies, and maintains a Code of Ethics with pre-clearance and monitoring of employee trading, which together shape its execution and conflict-management practices.
Client services
Expertise
Fee options
$0+: 2% annually maximum $0+: 0.125% per calendar quarter for Fixed Income Securities (0.5% annually) $0+: 0.25% per calendar quarter for Equity Securities (1.0% annually) $0+: 10/10 Program: 0.10% per quarter on money market accounts and 0.5% per quarter on equity investments (1.25% annually total)
Fee-only: Annual fees up to 2%, billed quarterly; fees negotiable; no commissions or performance-based fees
Main office
Huntsville AL
Advisors at this office
2
Most active in
Alabama
Disclosures
Exclamation point means they have disclosures of this type. Check mark means no disclosures of this type were found.
Business activities & affiliations
Is not active or affiliated with:
-
Insurance agent
They sell insurance products and may earn commissions on those sales.
-
Broker-dealer / trader
They provide brokerage services and may earn transaction-based compensation in addition to advisory fees.
-
Bank
They're affiliated with a bank that may offer its own financial products and services.
-
Trust company
They provide trust and estate administration services, typically for separate fees.
-
Fund sponsor
They manage or sponsor investment funds and may earn management or performance-based fees if clients invest in them.
-
Accountant / CPA / tax prep
They offer tax and accounting services, typically for separate fees.
-
Lawyer
They provide legal services, typically billed separately.
-
Real estate agent
They facilitate real estate transactions and may earn commissions.
-
Other specialized services
They may provide services such as pension consulting or municipal advisory work, typically for separate fees.
Forms ADV
Advisors at this firm
Grover W
Series 63
Huntsville, AL
Witter & Lester Inc
Grover Whaley is a financial advisor at Witter & Lester Inc in Huntsville, AL, holding a Series 63 designation with 21 years of industry experience. He has been with Witter & Lester since 1993. Witter & Lester, Inc. provides discretionary investment supervisory services and model-based asset management programs for individual and institutional clients. The firm employs a quantitatively oriented, seasonality-driven investment approach using stocks, ETFs, bonds, and mutual funds, managing a small, concentrated client base.
Richard L
Series 63
Huntsville, AL
Witter & Lester Inc
Richard Lester is a financial advisor at Witter & Lester Inc with 21 years of industry experience. He has been with the firm since 1988. Lester holds a Series 63 designation. Witter & Lester Inc provides discretionary investment supervisory services and model-based asset management programs for individual and institutional clients. The firm employs a quantitatively oriented investment approach that incorporates market indices, seasonal patterns, and fundamental and technical indicators to manage portfolios.
Not sure where to start?
We'll help you think it through—whether you ultimately need an advisor or not. Warmer helps you compare advisors clearly, so you can choose with confidence.
For advisor listings, we rely on sources including public filings and data provided by advisors, and we cannot guarantee that all information is current or accurate. Advisors are independent and may not have reviewed or updated this information. Please review an advisor’s Form ADV and do your own diligence before deciding whether to work with them.
Advisor matching and introductions are provided by FinanceHQ LLC (“FHQ”), a wholly-owned subsidiary of Warmer and an SEC-registered investment advisor. We receive compensation from certain participating advisors for introductions or referrals. This creates a conflict of interest because we have an incentive to recommend advisors who compensate us, including those who pay us more. You pay no fee to use our matching service, and advisor fees are not increased because of a referral or introduction. We do not review the ongoing performance of advisors, manage or hold assets, guarantee performance, or provide advice about specific investments.
By using our service, you agree to our Terms of Service and Advisory Agreement, and acknowledge our Privacy Policy. Please review FHQ’s ADV Part 2A and Form CRS. Logos provided by Logo.dev
© 2026 Warmer Holdings Inc. (“Warmer”)