Eversource Wealth Advisors is a investment adviser based in Birmingham, AL, that holds a 76.8/100 Fidelon TransparencyScore (12th percentile among SEC-registered advisers), with 77 registered advisors. Score based on public SEC and FINRA filings.
Eversource Wealth Advisors
Eversource Wealth Advisors, LLC · CRD #286340
A fee-only investment adviser with a clean regulatory record and fiduciary commitment.
Fidelon Fact Sheet
Eversource Wealth Advisors, LLC is an SEC-registered investment adviser in Birmingham, AL. It used to be called Wealthsource Financial Advisors, LLC and Frank And Flanagan Wealth Advisors. Its 77 registered advisors typically serve individuals and families, business owners and executives and professionals. It manages $5.1 billion across 13,689 client accounts. It charges one yearly percentage of your account, and it does not report earning commissions. Its services include financial planning, portfolio management, educational seminars and investment newsletters. 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
9,492nd of 10,815
SEC-registered advisers
Bottom 12%
61st of 79
SEC-registered advisers in AL
Bottom 23%
29th of 37
SEC-registered advisers in Birmingham, AL
Bottom 22%
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
- Does not earn commissions on product sales
What you’d pay
Your balance falls in the $0 - $3,000,000 band, charged at up to 0.50% on the full amount. The brochure files this rate as a maximum, not a price. What you actually pay is set in your agreement and may be lower.
This fee is negotiable
“Fee schedules for investment advisory, financial planning, and consulting services will vary among EverSource Advisors depending on varying service models, client needs, complexity, and areas of particular expertise, and are subject to negotiation.”
From their Form ADV Part 2A. Most investors never ask.
Other arrangements offered
- • A negotiated fee, agreed individually
Not included above
- • Investment Program Fees: 0.05% (5 bps) to 0.25% (25 bps) annualized, in addition to investment advisory fee
- • Financial Planning and Consulting: fixed-fee basis generally ranging from $2,500 to $25,000, flat annual fee billed monthly or quarterly, or time-worked basis at rates ranging from $150 to $400 per hour
- • Life Impact Stewardship Planning: negotiated separately
- • Consulting for MSI, Halo, or DPL clients: 0.5% to 1.0% annualized of client’s assets held at MSI, Halo, or DPL
- • Family Dynamics and Conflict Resolution: hourly $400, daily $1,500, or negotiated total fee
- • Compensation Consulting: negotiated per project or monthly
- • Investment Consulting: negotiated per project
- • Betterment wrap fee for 401(k) plans: 0.12% to 0.20% or flat fee
- • Sub-Advisory for TAMP: percentage of assets, deducted by other RIA
- • Back-office support to RIAs: established by agreement, not charged to client
- • DPL or Halo payments for portfolio management: advisory fee paid by DPL or Halo, no burden on client
- • Mutual fund/ETF expense ratios, transaction fees, broker commissions, custodial fees, third-party manager fees, private market investment fees
- • EverSource Capital Access Fund I, LLC expenses including audit, accounting, legal
- • Flourish Cash referral income: 0.00% to 0.05% on cash balances
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 |
|---|---|
| $0 - $3,000,000 | Up to 0.50% |
Billed billed within ten (10) days following the close of each calendar quarter (i.e., march 31st, june 30th, september 30th, and december 31st); based on average daily balance over the immediately preceding calendar quarter for accounts billed in arrears or at the account balance on the last day of the previous quarter for accounts billed in advance; subject to negotiation and may vary, including monthly billing
Extracted from Form ADV Part 2A brochure
Specializations
Extracted from Form ADV Part 2A brochure
Who They Typically Serve
Extracted from Form ADV Part 2A brochure
Key Findings
Strengths
- Fee-only compensation — no commission income reported
- Registered as investment adviser with fiduciary obligation
- No broker-dealer registration — advisory services only
- Clean regulatory record — no disclosures, arbitrations, or fines
- Transparent fee structure — charges advisory fees, no commissions
Things You Should Know
- Its brochure names an affiliated adviser or private fund as a conflict, but it does not explain what this arrangement tempts the firm to do, say what the firm is paid for it, or say what it can cost you. Ask whether any fund or adviser recommended to you is owned by or tied to the firm, and what fees that adds.Items 10, 11, 12.B and 14
Conflict Audit
Zero material conflicts identified 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
“It is generally the case that we are paid more when you ask us to manage more assets. This arrangement gives us an incentive to recommend you place more assets with us.”
“Some of our investment advisors hold an insurance license and may receive a commission for insurance or annuity products they recommend to you”
Source: the firm’s own Form CRS, filed 2026-03-18 — 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.
83/100
Strong
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.
66/100
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
- 88/100
- Does it explain how the firm's conflicts affect you?
- Conflicts of interest
- 91/100
- Can you tell what you would pay?
- What you pay
- 100/100
- Is it written in plain English?
- Plain language
- 94/100
This firm's Form CRS averages 93 out of 100. It adds 8.31 points once the firm's filings and record score 90 on their own; they score 76.79 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 Clarity100/100
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.
The brochure answers every one of these.
- Can you tell what you'd pay?CoveredItem 5.A
Without a fee schedule you cannot compare this firm with any other.
Fee schedules for investment advisory, financial planning, and consulting services will vary among EverSource Advisors depending on varying service models, client needs, complexity, and areas of particular expertise, and are subject to negotiation.p. 11
- Does it say whether the fee can be negotiated?CoveredItem 5.A
If fees are negotiable, other clients may be paying less than you for the same service.
Fee schedules for investment advisory, financial planning, and consulting services will vary among EverSource Advisors depending on varying service models, client needs, complexity, and areas of particular expertise, and are subject to negotiation.p. 11
- 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.
Depending on the contractual arrangement with each client, we will either invoice clients or directly debit their custodial accounts for portfolio management fees.p. 12
- 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.
Fees are either billed monthly or quarterly, and the fee calculation is either: (i) in advance, based upon the balance of the client’s account(s) on the last day of the previous billing period; or (ii) in arrears, based upon the average daily balance of the client’s account(s) over the preceding billing period.p. 11
- 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.
Our clients typically incur costs in addition to EverSource’s fees, such as charges imposed by third parties like custodians, brokers, and separate account managers.p. 15
- 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.
Any pre-paid fees which EverSource has not earned as of the effective date of termination shall be refunded to the Client.p. 16
Does it explain each conflict of interest and what it could cost you?Brochure Conflict Specificity59/100
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 it has an affiliated adviser or private fund, does it explain what that means for you?
An affiliated adviser or private fund
- 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.
BMSS Wesson Wealth Solutions, LLC (“BWWS”), an SEC-registered investment advisor firm, is under common control with EverSource in that Mark Wesson is the CEO of both firms.p. 23
- Does it explain what this arrangement tempts the firm to do?Not found in the brochureStaff Bulletin Q11
You can only judge advice when you know which way it is being pulled.
What to askAsk what this arrangement gives the firm a reason to recommend, and how often that happens.
- 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 any fund or adviser recommended to you is owned by or tied to the firm, and what fees that adds.
If it has an affiliated adviser or private fund, does it explain what that means for you?
An affiliated adviser or private fund
- 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.
EverSource is the 100% owner of EverSource CID, LLC (“CID” or “Consider It Done!”), a virtual assistant company serving financial advisors around the nation, including BWWS and EverSource.p. 23
- Does it explain what this arrangement tempts the firm to do?Not found in the brochureStaff Bulletin Q11
You can only judge advice when you know which way it is being pulled.
What to askAsk what this arrangement gives the firm a reason to recommend, and how often that happens.
- 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?CoveredStaff Bulletin Q11
Benefits that are not cash, like free services or referrals, still shape advice.
Because CID is a wholly-owned subsidiary, EverSource has a self-interest in recommending that clients use CID’s services.p. 23
- 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 any fund or adviser recommended to you is owned by or tied to the firm, and what fees that adds.
If the firm gets research or services from a custodian or broker, does it explain them?
Research or services received from a custodian or broker (soft dollars)
- 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.
EverSource receives access to benefits from Fidelity and Schwab, including institutional trading and custody services, that are generally not available to retail investors.p. 27
- 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.
However, participation in the programs described above does gives rise to a potential conflict of interest for our firm, as the receipt of program benefits creates an incentive for us to recommend program sponsors to clients for brokerage or custodial services.p. 27
- 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 what the firm receives from the custodian or broker it uses for you, and whether that costs you anything.
If the firm is paid for referring clients elsewhere, does it explain those payments?
Payments received for referring clients elsewhere
- 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.
We also disclose that CTC has agreed to pay us fifteen percent (15%) of the revenue it receives from serving EverSource clients.p. 31
- 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 presents a conflict of interest in that EverSource could refer clients to CTC because of the resulting financial benefit to EverSource.p. 31
- 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 the firm is paid when it sends you to another company, and by whom.
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.
Thus, a potential conflict of interest exists between the interests of these individuals and those of the advisory clients, possibly creating an incentive for them to recommend insurance products based on the compensation received, rather than on a client’s needs.p. 16
- 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.
Thus, a potential conflict of interest exists between the interests of these individuals and those of the advisory clients, possibly creating an incentive for them to recommend insurance products based on the compensation received, rather than on a client’s needs.p. 16
- 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 recommended through any insurance companies.p. 16
- 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 Dollars71/100
When brokers give the firm research or services in return for your trades, the SEC asks the brochure to say what the firm gets and what it may cost you.
Each point is marked Covered or Not found. When a point is not found, we say what to ask.
- Does it list what the firm gets from brokers for free?CoveredItem 12.A.1.e
Research, software and data paid for by your trades are a cost you never see.
These benefits may include: (1) access to a proprietary trading platforms and execution of trades; (2) access to a dedicated trading desk serving program participants exclusively; (3) the ability to have investment advisory fees deducted directly from a client’s account; (4) research and compliance publications; (5) access to certain mutual funds which generally require significantly higher minimum initial investments or that are available only to institutional investors, and (6) invitations to education seminars provided online or at conferences.p. 27
- Does it say the firm benefits by not paying for those things?CoveredItem 12.A.1.a
A perk the firm would otherwise buy is money in the firm's pocket, paid with your trades.
EverSource receives access to benefits from Fidelity and Schwab, including institutional trading and custody services, that are generally not available to retail investors.p. 27
- Does it say those perks can shape which broker it picks for you?CoveredItem 12.A.1.b
Your trades should go where you get the best deal, not where the firm gets the best perks.
However, participation in the programs described above does gives rise to a potential conflict of interest for our firm, as the receipt of program benefits creates an incentive for us to recommend program sponsors to clients for brokerage or custodial services.p. 27
- Does it say whether those perks stay within what the law allows?Not found in the brochureItem 12.A.1.e note
The law allows research paid for with client trades only within limits; outside them, it is your money.
What to askAsk whether everything the firm receives from brokers is research the law lets it take in return for your trades.
- Does it say whether you pay more in trading costs because of those perks?Does not applyItem 12.A.1.c
Paying up for trades to earn the firm a perk comes straight out of your returns.
- Does it say whether every client benefits or only some?Not found in the brochureItem 12.A.1.d
Your trades may be paying for research that helps other clients' accounts, not yours.
What to askAsk whether the research your trades help pay for is used for your account.
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
77 advisors
| Advisor | CRD | Score | Grade |
|---|---|---|---|
| Mark Alan Wesson | 2870801 | — | — |
| Jim Martyn Williams | 2269715 | — | — |
| Daniel Tedford Phillips | 6613536 | — | — |
| Roger Conant Moulton Jr | 1053083 | — | — |
| Micky Chamberlain Reeves | 3197466 | — | — |
| Daniel Joseph Flanagan | 4573440 | — | — |
| John Robert Burch | 5284687 | — | — |
| James Miller | 5797090 | — | — |
| Nathan Jay Serven | 5601143 | — | — |
| Myron Hollon Ashby | 3067772 | — | — |
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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 #286340