Sowell Financial Sows $5M in Fundraising

Sowell Financial Sows $5M in Fundraising
CEO Bill Sowell of Sowell Management in North Little Rock. Sowell, which has close to $2 billion in assets under management, has always been a fiduciary. (Kerry Prichard)

Sowell Financial Services LLC of North Little Rock recently raised $5 million by selling shares.

“This is what I would call ‘opportunity’ money,” Bill Sowell, CEO of Sowell Management Inc., a registered investment adviser in North Little Rock, said in an email to Whispers. Sowell Management is Sowell Financial’s managing member.

“We are continually approached with various opportunities to acquire other firms in our industry. While our growth has been entirely organic, we would not rule out making strategic acquisitions.”

Sowell said there were no challenges to raising the money. “We have accredited investors that have approached us that would be interested in funding any potential deals we may consider,” he said.

Sowell Financial’s filing with the Securities & Exchange Commission shows the date of the first sale was Nov. 30 and the total offering amount was $5 million.

Sowell Management, which charges clients a flat fee, has about $3 billion in assets under management and partners with financial advisers nationwide. Last year at this time, it had about $1.7 billion in assets under management.