Sowell Management Names Daryl Seaton CEO
The planned succession from founder Bill Sowell comes as the Little Rock firm expands its advisor partnership network.
Updated on Nov. 11, 2026 in Financial Planning
Sowell Management, a Little Rock wealth management firm founded in 2001, has completed a planned CEO succession, with Daryl Seaton taking over from founder Bill Sowell. The firm manages $7 billion across 50 advisor partner firms.
Why it matters
The leadership change coincides with Sowell's expansion efforts, including a minority stake sale to the wealth management investor Merchant that funds its Advisor Partnership Program. The moves aim to let independent advisors share in firm equity while keeping their brands and client relationships.
Sowell reports $7 billion in managed assets across 50 advisor partner firms, a figure it presents as its current scale without a disclosed prior-period comparison. The minority stake's size and valuation were not disclosed.
The players
Sowell Management
A Little Rock wealth management firm founded in 2001 that manages $7 billion across 50 advisor partner firms and offers independent advisors shared equity and back-office support.
Daryl Seaton
The former chief operating officer and president of Sowell Management who became its CEO in a planned succession from founder Bill Sowell.
Merchant
A wealth management investor that acquired a minority stake in Sowell Management and whose RIA network includes Concurrent Investment Advisors and Summit Financial.
The details
Seaton previously served as Sowell's chief operating officer and then president before becoming CEO. In April the firm launched Cache River Private Wealth, a division for households with $5 million or more in net worth, and in May it sold a minority stake to Merchant, joining Merchant's network of RIAs.
Timeline
2001: Sowell Management is founded.
April 2026: Cache River Private Wealth is launched.
May 2026: Minority stake is sold to Merchant.
2026: Daryl Seaton assumes the CEO role in the planned succession.
Tuesday: Seaton speaks at the RIA Edge Austin conference.
Market Dynamics
Sowell's minority stake sale to Merchant follows a pattern of independent RIAs taking outside capital from aggregators to fund advisor-ownership programs. Merchant's network, which includes firms with $28.6 billion and $27 billion in AUM, reflects how that consolidation is reshaping wealth management.
Clients of Sowell and its partner advisors keep their existing brands and relationships while the firm's ownership and service options change. Households with $5 million or more in net worth may consider the new Cache River Private Wealth division as they evaluate planning options.
The takeaway
Investors evaluating an advisor should ask how a firm's ownership changes, such as outside investment or leadership transitions, could affect service, fees, and advisor independence. Reviewing those terms before committing can clarify what the relationship will look like going forward.
Further reading
For more on how advisors and firms approach long-term planning, explore Financial Planning coverage from Little Rock.
Source note: This article includes information reported by WealthManagement.
