Level Four Financial is a broker-dealer based in Mobile, AL, that holds a 70.0/100 Fidelon TransparencyScore (4th percentile among SEC-registered advisers), with 160 registered advisors. Score based on public SEC and FINRA filings.
Level Four Financial
Level Four Financial, LLC · CRD #25700
A dual-registered firm offering both advisory and brokerage services.
Fidelon Fact Sheet
Level Four Financial, LLC is an investment adviser and broker-dealer in Mobile, AL. It used to be called Mid-Atlantic Securities, A Level Four Financial & Level Four Adv and Harbor Financial Services, LLC. It has 160 registered advisors. It can earn commissions when it sells you a product. When it gives advice, it must put your interests first. When it sells products, it only has to pick ones that are suitable for you. It has regulatory actions and customer arbitrations on file, most recently in 2014.
Peer Context
10,396th of 10,815
SEC-registered advisers
Bottom 4%
74th of 79
SEC-registered advisers in AL
Bottom 6%
1st of 1
SEC-registered advisers in Mobile, AL
#1 ranked
How This Firm Works
Registration & Standard of Care
Dual-Registered — this firm operates as both an investment adviser (fiduciary) and a broker-dealer. Some services come with fiduciary protection, while brokerage services may involve commissions.
How This Firm Gets Paid
- Representatives can earn commissions on product sales
Key Findings
Strengths
- Registered as investment adviser with fiduciary obligation
Things You Should Know
- Also operates as a broker-dealer — may not always be required to put your interests first
- 8 regulatory complaints reported by FINRA
- $29K in regulatory fines
Conflict Audit
Multiple structural conflicts identified in regulatory filings. These are disclosed business arrangements — worth asking about, not disqualifying.
Source: Form ADV Part 1, Items 6-8; Part 2A, Items 10-14
What this firm says about how it gets paid
“This means that the more assets you invest in your account, the more you will pay in fees, and therefore we have an incentive to encourage you to increase your advisory account assets.”
“Third-Party Product Sponsor Payments: In an advisory account we receive payments from third party product sponsors and managers (or their affiliates) when we recommend or sell certain advisory programs.”
Source: the firm’s own Form CRS, filed 2026-07-16 — quoted directly
Regulatory Track Record
8
Disclosures
$29K
Total Fines
Regulatory Events
TransparencyScore Dimensions
Disclosure Record
Customer complaints, arbitrations, and fines. Frequency and recency matter.
71/100
Fair
Avg for broker-dealer firms: 69.2 | Top 10%: 92.6
Filing Quality
How clearly the firm describes services, fees, and investment approach in regulatory filings.
75/100
Fair
Avg for broker-dealer firms: 63.9 | Top 10%: 82.8
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.
86/100
Strong
Avg for broker-dealer firms: 72.9 | Top 10%: 85.6
Enforcement History
Past actions taken by the SEC, FINRA, or state regulators, and how well the firm supervised its people.
74/100
Fair
Avg for broker-dealer firms: 76.7 | Top 10%: 86.5
Next Steps
Advisor Roster
160 advisors
| Advisor | CRD | Score | Grade |
|---|---|---|---|
| Ryan Wentworth Brace | 6501368 | — | — |
| Britt Woods | 4653884 | — | — |
| Ron Franklin Linton | 4667461 | — | — |
| William R Harmon | 3161504 | — | — |
| Wilbur Spear Hemby Jr | 2565069 | — | — |
| Samuel Lee Williams | 4409918 | — | — |
| Ryan Warren Ash | 4969623 | — | — |
| Richard Todd Harrington | 4161711 | — | — |
| Rosilyn Hoffman Overton | 817462 | — | — |
| Peter Henry Gore | 2877150 | — | — |
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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 · FINRA BrokerCheck
Last scored: · Score version: 3.15 · CRD #25700