EverSource Wealth Advisors Company Profile

Background

Overview

Founded in 2017, EverSource Wealth Advisors is a Registered Investment Advisor (RIA) headquartered in Birmingham, Alabama. The firm was established to provide financial advisors with a platform that emphasizes independence, values alignment, and comprehensive support. EverSource offers a distinctive culture and business model that encourages advisors and their clients to engage in planning and investing with lasting impact.

Mission and Vision

EverSource is committed to empowering faith-driven financial advisors to integrate their values into their practice, offering clients peace of mind through organization, financial planning, and investment management. The firm's mission is to equip advisors to serve their clients with excellence, grow their business and income, and experience the benefits of a culture and community aligned with their values.

Industry Significance

Since its inception, EverSource has experienced significant growth, managing over $2 billion in assets and expanding its presence to serve advisors in multiple states across the U.S. In 2022, the firm was recognized by RIA Channel as the second fastest-growing RIA in the nation.

Key Strategic Focus

Core Objectives

EverSource focuses on providing a comprehensive support system for independent financial advisors, enabling them to deliver exceptional service to their clients while aligning their practice with their personal values. The firm emphasizes:

Organization: Assisting clients in organizing their financial lives through a structured discovery process and digital tools.

Financial Planning: Offering risk identification, balance sheet optimization, retirement planning, and integrated tax planning.

Investment Advisory: Providing research, investment policy design, portfolio analysis, and ongoing monitoring.

Life Planning: Aligning clients' values, purpose, and calling with their financial strategies to create intentional impact and legacy.

Primary Markets

EverSource serves a diverse clientele, including high-net-worth individuals, families, and institutional clients. The firm has expanded its geographic presence to include advisors in states such as Alabama, Arizona, Florida, Georgia, Michigan, Mississippi, Missouri, Nevada, New York, Pennsylvania, Tennessee, Texas, Virginia, Washington, and Wisconsin.

Financials and Funding

Assets Under Management (AUM)

As of the latest available data, EverSource manages over $2 billion in total assets.

Funding History

EverSource has undergone several funding rounds to support its growth and expansion:

Seed Round (August 2017): Raised $2.4 million.

Early Stage VC (January 2018): Secured an additional $50,000.

Early Stage VC (January 2021): Raised an undisclosed amount.

Secondary Transaction - Private (July 2021): Completed a private secondary transaction.

Utilization of Capital

The capital raised has been utilized to enhance the firm's technological infrastructure, expand its advisor network, and support strategic acquisitions and partnerships to broaden its service offerings and geographic reach.

Technological Platform and Innovation

Proprietary Technologies

EverSource leverages a customized version of Salesforce integrated with the Black Diamond portfolio management system. This cloud-based technology platform is designed for growth and scalability, serving as the operational hub for all aspects of an advisor’s business, from prospecting to client onboarding and service delivery.

Scientific Methodologies

The firm employs a planning-centric approach to investing, utilizing proprietary tools like the Life Impact Stewardship Journey to guide clients in aligning their investments with their values and life goals. This methodology emphasizes comprehensive financial planning and disciplined investment strategies.

Leadership Team

Key Executives

Mark Wesson, CFP®, CKA®: Founder and CEO. With 28 years of experience in wealth advisory, Mark established EverSource to provide a platform that aligns advisors' practices with their values.

Rhonda F. Hitchcock, CTFA, AEP®: Chief Operations Officer. Rhonda oversees the firm's operations, ensuring efficient service delivery and operational excellence.

Daniel Phillips, CFA®, CFP®: Chief Investments Officer. Daniel leads the investment strategy and research efforts, focusing on delivering tailored investment solutions to clients.

Glenn Waddell: General Counsel. Glenn manages the firm's legal and compliance functions, ensuring adherence to regulatory standards.

Shaun Morgan: Director of Business Development. Shaun is responsible for driving the firm's growth initiatives and expanding its advisor network.

Todd Kessler, CCP®: Director of Compensation Consulting and Financial Modeling. Todd provides expertise in compensation structures and financial modeling to support advisors' business growth.

Ed Hart: Director of Marketing & Business Development. Ed leads the firm's marketing strategies and business development efforts.

Rhonda Lutzke, CID: Chief Strategy Officer. Rhonda focuses on strategic planning and implementation to