Anderson Growth Partners is a investment adviser based in Birmingham, AL, that holds a 76.1/100 Fidelon TransparencyScore (11th percentile among SEC-registered advisers), with 1 registered advisor. Score based on public SEC and FINRA filings.
Anderson Growth Partners
Anderson Growth Partners, LLC · CRD #138600
A registered investment adviser with a clean regulatory record.
Fidelon Fact Sheet
Anderson Growth Partners, LLC is an SEC-registered investment adviser in Birmingham, AL. It used to be called Anderson Wealth Management. It has one registered advisor. It manages $1 billion across 209 client accounts. It charges a percentage of the money it manages for you, and it can also earn commissions when it sells you a product. Its services include financial planning, portfolio management and private fund management. It reports that it can hold or access client money, which the SEC requires firms to disclose. Its record shows no customer complaints, regulatory actions or fines.
Peer Context
9,660th of 10,815
SEC-registered advisers
Bottom 11%
64th of 79
SEC-registered advisers in AL
Bottom 19%
30th of 37
SEC-registered advisers in Birmingham, AL
Bottom 19%
How This Firm Works
Registration & Standard of Care
Investment Adviser — this firm is a registered investment adviser, held to a fiduciary standard — legally required to act in clients' best interests.
How This Firm Gets Paid
- Charges a percentage of assets under management
- Charges fixed fees for specific services
- Can earn money selling products alongside advice — the product company pays that, so it never appears on an advisory invoice
What you’d pay
Blended across 1 tiers, from $10,000,001 and above.
Estimated from the firm’s Form ADV Part 2A brochure — not a quote. Actual fees are set in your agreement and may differ. Costs charged by others (custodians, fund managers) are not included.
What This Firm Charges
| Account Size | Annual Fee |
|---|---|
| $2,000,001 and above | 0.70% |
| $5,000,001 and above | 0.60% |
| $10,000,001 and above | 0.50% |
Billed monthly for management fees (paid via distributions or capital calls); quarterly in arrears for awm fees
Extracted from Form ADV Part 2A brochure
Specializations
Extracted from Form ADV Part 2A brochure
Key Findings
Strengths
- Registered as investment adviser with fiduciary obligation
- Clean regulatory record — no disclosures, arbitrations, or fines
Conflict Audit
Our analysis identified 2 potential conflicts of interest in regulatory filings.
Source: Form ADV Part 1, Items 6-8; Part 2A, Items 10-14
What this firm says about how it gets paid
“The more assets there are in a client’s advisory account that we manage, the more the client will pay in fees, and our firm has an incentive to encourage the client to increase the assets in his or her account or to engage in riskier investment techniques to increase the account size.”
“We benefit from commissions received by AWM Risk Management, LLC, a related entity, from the sale of insurance products to clients.”
Source: the firm’s own Form CRS, filed 2024-03-28 — quoted directly
Regulatory Track Record
0
Disclosures
Clean record — no disclosures found
$0
Total Fines
Clean record — no fines found
Regulatory Events
TransparencyScore Dimensions
Disclosure Record
Customer complaints, arbitrations, and fines. Frequency and recency matter.
100/100
Strong
Avg for investment adviser firms: 82.6 | Top 10%: 99.5
Filing Quality
How clearly the firm describes services, fees, and investment approach in regulatory filings.
73/100
Fair
Avg for investment adviser firms: 84.1 | Top 10%: 100
Conflict Disclosure
How openly the firm explains who pays it and what it's paid to sell. The conflict isn't the problem — hiding it is.
70/100
Fair
Avg for investment adviser firms: 54 | Top 10%: 67
Enforcement History
Self-reported legal and disciplinary history from Form ADV Item 11.
100/100
Strong
Avg for investment adviser firms: 99.7 | Top 10%: 100
Their two-page relationship summary
The SEC requires every SEC-registered investment adviser to hand you this summary, called a Form CRS, and says what it must cover. We checked this firm's against that list. What is a Form CRS?
- Does it include everything the SEC requires?
- Required sections
- 90/100
- Does it explain how the firm's conflicts affect you?
- Conflicts of interest
- 70/100
- Can you tell what you would pay?
- What you pay
- 83/100
- Is it written in plain English?
- Plain language
- 90/100
This firm's Form CRS averages 83 out of 100. It adds 5.81 points once the firm's filings and record score 90 on their own; they score 76.13 today.
What their brochure tells you
The firm must give you this brochure, Form ADV Part 2A, before you sign. We read it against the SEC's own instructions, item by item. Quotes are the firm's own words; page numbers refer to the filed brochure. What is in a brochure?
Can you tell what you'd pay and when?Brochure Fee Clarity90/100
The SEC asks every brochure to spell out the fee schedule, whether fees can be negotiated, how and when you are billed, the other costs you pay, and refunds.
Each point is marked Covered or Not found. When a point is not found, we say what to ask.
- Can you tell what you'd pay?CoveredItem 5.A
Without a fee schedule you cannot compare this firm with any other.
The advisory fee for each client is based on a percent of the market value of the client’s portfolio of securities under management, with a maximum of a 1.00% annual fee.p. 6
- Does it say whether the fee can be negotiated?Not found in the brochureItem 5.A
If fees are negotiable, other clients may be paying less than you for the same service.
What to askAsk whether the fee is negotiable, and what other clients at your account size pay.
- Does it say whether the fee comes out of your account or gets billed?CoveredItem 5.B
A fee taken straight from your account is easy to stop noticing.
Fees are deducted directly from the client’s custodial account, as authorized by each client in their custodian agreement.p. 8
- Does it say how often you're charged?CoveredItem 5.B
Monthly, quarterly, in advance or in arrears changes what you owe when you leave.
AWM advisory fees are billed quarterly in arrears, which is calculated using the average daily balance based on the market value of the accounts during the quarter.p. 8
- Does it list the other costs you pay, like fund and custodian fees?CoveredItem 5.C
The advisory fee is rarely the whole bill; fund, trading and custody costs come on top.
Certain types of expenses directly attributable to each Anderson Entity are charged to the respective Entity; such as legal fees and other organizational fees associated with forming an Entity, as well as annual audit fees, tax preparation and license fees, and bank fees for the respective Entity.p. 7
- Does it say how you get money back if you leave mid-period?CoveredItem 5.D
If you pay in advance and leave early, the refund rule decides what you get back.
In the event of any termination or removal of AGP as manager of an Anderson Entity, any pre-paid, unearned management fees, annual fees or performance fees will be pro-rated and any unearned fees will be promptly refunded, and any earned, unpaid fees will be due and payable.p. 7
Does it explain each conflict of interest and what it could cost you?Brochure Conflict Specificity65/100
The SEC asks the brochure to name each way the firm gets paid besides your fee, what that tempts the firm to do, and what it can cost you.
Each point is marked Covered or Not found. When a point is not found, we say what to ask.
If its people can earn insurance commissions, does it explain them?
Insurance commissions
- Does the brochure name this conflict where the SEC requires?CoveredItems 10/11/12.B/14
A conflict named in the right place is one the firm has thought about; one buried elsewhere is easy to miss.
However, when clients’ desire or require insurance products to fulfill their IPS mandates, AGP recommends insurance products sold by AWM Risk Management, LLC. and will receive corresponding commissions in connection with the sale of insurance products.p. 8
- Does it explain what this arrangement tempts the firm to do?CoveredStaff Bulletin Q11
You can only judge advice when you know which way it is being pulled.
This practice presents a potential conflict of interest because it creates an incentive to recommend investment products based on the related entity’s interest in receiving compensation, rather than on a client’s needs.p. 8
- Does it describe what the arrangement actually is?Not found in the brochureStaff Bulletin Q11
A conflict described in one vague sentence tells you it exists but not how it works.
What to askAsk the advisor to explain this arrangement in plain terms, including who pays whom.
- Does it say what the firm is paid for it?Not found in the brochureStaff Bulletin Q11
The size of the payment tells you how strong the pull is.
What to askAsk how much the firm or its people receive from this arrangement in a typical year.
- Does it say how the firm comes out ahead?Not found in the brochureStaff Bulletin Q11
Benefits that are not cash, like free services or referrals, still shape advice.
What to askAsk what the firm gains from this arrangement beyond fees.
- Does it say what it can cost you?Not found in the brochureStaff Bulletin Q11
Every conflict has a price; the question is whether the brochure puts it in your hands.
What to askAsk what this arrangement can cost you, in fees, returns or choices you do not get.
- Does it say how the firm keeps this conflict in check?Not assessed yetItems 10.C-D, 11.B-D, 14.A
A conflict with no control on it is left to the advisor's goodwill.
What to askAsk whether anyone at the firm earns a commission on insurance recommended to you, and whether it lowers your fee.
Do they earn commissions on products, and do they say so?Brochure Sales Compensation85/100
When a firm or its people sell products for a commission, the SEC asks the brochure to say so, name the pull, and tell you whether you could buy elsewhere.
Each point is marked Covered or Not found. When a point is not found, we say what to ask.
- Does it say that earning commissions is a conflict of interest?CoveredItem 5.E.1
A firm paid to sell a product has a reason to recommend it that has nothing to do with you.
This practice presents a potential conflict of interest because it creates an incentive to recommend investment products based on the related entity’s interest in receiving compensation, rather than on a client’s needs.p. 8
- Does it say commissions can shape what they recommend?CoveredItem 5.E.1
Naming the pull is the first step to controlling it; silence leaves it working on you.
This practice represents a conflict of interest because it creates an incentive to sell insurance products based on compensation received rather than on the interest of clients.p. 14
- Does it say you can buy the same products elsewhere?CoveredItem 5.E.2
You may be able to buy the same product for less somewhere else.
Clients have the option to purchase insurance products through other brokers, agents or entities that are not affiliated with AGP.p. 8
- Does it say whether commissions lower your advisory fee?Not found in the brochureItem 5.E.4
If the firm earns a commission and the full advisory fee, you pay twice for one recommendation.
What to askAsk whether any commission the firm earns is credited against your advisory fee.
Do they get free research or services from brokers, and does it affect you?Brochure Soft DollarsNot applicable
Not applicable: the brochure describes no research or services from brokers
A point not found is not a finding against the firm; many points apply only when the firm has that arrangement, and state-registered firms file the same brochure form.
Next Steps
Advisor Roster
1 advisor
| Advisor | CRD | Score | Grade |
|---|---|---|---|
| Jonathan Lawrence Rice | 6917217 | — | — |
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Frequently Asked Questions
What does the TransparencyScore measure?
The TransparencyScore measures how clearly and completely an advisor or firm discloses important information in their regulatory filings — things like fees, conflicts of interest, disciplinary history, and business practices. A higher score means better disclosure quality, not better investment performance.
Where does this data come from?
All data comes from public regulatory filings: SEC Form ADV (Parts 1, 2, and 3), FINRA BrokerCheck, and the SEC's Investment Adviser Public Disclosure (IAPD) database. These are official filings that firms and advisors are legally required to submit.
Does a low score mean they're a bad advisor?
Not necessarily. A low score means the firm's public filings are less transparent — they may use vague language about fees, skip details about conflicts, or have a more complex regulatory history. Some excellent advisors work at firms with poor disclosure practices. The score measures the filing, not the person.
How often is this data updated?
Fidelon refreshes data from SEC and FINRA sources on a regular schedule. Form ADV filings are updated annually by firms (with amendments throughout the year), and BrokerCheck data is updated as events are reported. Scores are recalculated after each data refresh.
Can an advisor or firm improve their score?
Yes. Scores are based on what's in public filings. A firm that rewrites its ADV brochure in clearer language, discloses conflicts more specifically, or resolves outstanding regulatory issues will see its score improve at the next refresh. The incentive structure is intentional.
Data Sources
Scores are generated using Fidelon's published scoring methodology and reflect the quality of public disclosures, not the quality of investment advice. A firm that improves its disclosures will see its score improve. Fidelon does not provide investment advice.
Verify on SEC IAPD
Last scored: · Score version: 3.15 · CRD #138600