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RFG Advisory
RFG Advisory launched in 2011 when Bobby White, a former advisor who had built Reliance Financial Group to $1.2 billion in assets, partnered with Shannon...
RFG Advisory
RFG Advisory launched in 2011 when Bobby White, a former advisor who had built Reliance Financial Group to $1.2 billion in assets, partnered with Shannon Spotswood to create a new kind of RIA platform. The firm's early focus was serving mass-affluent households with $100,000 to $3 million in investable assets. In 2018, Rick Wedell joined to build institutional-grade investment capabilities, and in 2023 private equity firm LongRidge Capital acquired a majority stake, funding the technology buildout that became the centerpiece of the RFG offering. The platform targets independent advisors breaking away from wirehouses, broker-dealers, or captive models. Advisors can outsource investment management or retain discretion, supported by portfolio construction, rebalancing, and trading services. The firm delivers its technology through ClickONE, a unified AI-driven operating system that replaces fragmented advisor stacks with a single data layer. RFG also provides back-office support, compliance, strategic coaching, advanced planning, and marketing. In 2025, it launched StrongHer Money, a program designed to help advisors serve women investors more effectively. RFG Advisory reported 12.5 billion in combined AUM and AUA as of April 2026, and a 90+ Net Promoter Score for advisor satisfaction as of December 2025. The firm operates from Creve Coeur, Missouri, and added Ed Swenson as President in 2025 to strengthen executive leadership alongside Spotswood, White, Wedell, and Chief Compliance Officer Doug Nelson. That same year, the firm formalized StrongHer Money as a growth accelerator targeting the women's wealth segment. The firm's hybrid architecture — a corporate RIA aggregator that grants advisors ownership of their brand, clients, and economics — sets it apart from traditional broker-dealers and roll-up acquirers. Advisors access equity-aligned capital solutions and succession planning, while a community of entrepreneurial peers operates under a shared infrastructure. That dual emphasis on technology efficiency and long-term enterprise value makes RFG's economic proposition structurally different from platforms that aggregate through employment models or revenue-sharing arrangements.
General information
Firm type
Bank / Wealth / Trust
Year founded
2011
AUM
$5B – $10B (Altss estimate)
Location
Region
North America
Country
United States
City
Vestavia Hills
Corporate office
Creve Coeur, United States
Principals
Shannon Spotswood
Chief Executive Officer
Bobby White
Founder
Rick Wedell
Chief Investment Officer
Ed Swenson
President
Doug Nelson
Chief Compliance Officer
Sector focus
Frequently asked questions
Who runs investment decisions at RFG Advisory?
Rick Wedell joined the firm in 2018 as Chief Investment Officer and leads the institutional-grade investment platform. Advisors on the RFG platform can choose to manage their own portfolios, outsource to Wedell's team, or blend both approaches depending on their client needs and personal philosophy (per the firm).
Is RFG Advisory structured as an independent RIA or a broker-dealer?
RFG Advisory is a corporate registered investment advisor. Unlike a broker-dealer model, the firm's structure lets advisors own their client relationships, brand, and economics directly. Securities execution is handled through Private Client Services, an unaffiliated FINRA-member broker-dealer, while RFG focuses exclusively on advisory services (per the firm).
What type of advisor typically joins the RFG Advisory platform?
The platform targets wirehouse and broker-dealer advisors evaluating independence, as well as advisors already in independent practice who want to upgrade their infrastructure. RFG provides a full-service transition team and ongoing operational support to reduce the friction of moving from a captive model (per the firm).
Does RFG Advisory participate in fund commitments or only direct advisory?
RFG operates as an advisory platform, not a fund investor. The firm provides portfolio construction, rebalancing, trading, and reporting support to its affiliated advisors, who then deliver those services to their end clients. There is no evidence of direct fund commitments or alternative-investment activity at the platform level (per the firm).
What technology does RFG Advisory use to differentiate its platform?
RFG built ClickONE, an AI-powered operating system that unifies advisory technology into a single data layer. Instead of requiring advisors to navigate separate CRM, portfolio management, financial planning, and reporting tools, ClickONE integrates workflows and surfaces intelligence from a unified environment (per the firm).
How is RFG Advisory's ownership structure distinct from RIA aggregators?
LongRidge Capital acquired a majority stake in RFG Advisory in 2023, but the firm operates as an equity-aligned platform rather than a traditional roll-up. Advisors retain ownership of their brand, clients, and economics, while the private equity backing funds technology and strategic growth without converting advisors into employees (per the firm).
What philanthropic or community structures does RFG maintain?
RFG Advisory has not publicly disclosed dedicated philanthropic entities like a donor-advised fund sponsor or foundation. The firm emphasizes a community of entrepreneurial advisors sharing a commitment to collaboration and servant-leadership, but that community is operational in nature rather than a formal giving vehicle (per the firm).
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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