Randy joined the firm in 2023 after a 29-year career as Chief Financial Officer at Brasfield & Gorrie, one of the nation’s largest privately held construction companies. As CFO, he was responsible for the financial management of the company, including overseeing both its corporate investment portfolio and 401k plan assets. Previously, he served as an audit manager in the Birmingham office of Coopers & Lybrand (now Pricewaterhouse Coopers).
JANET R. HAYES
Investment Counselor | Mobile
Janet joined the firm in 2004 and has been engaged in the investment management business since 1989. Prior to joining Leavell, Janet served as SVP and Regional Manager for Compass Bank’s (now PNC) Private Client Services Group in Alabama and Florida. Janet served in a similar capacity with Bank of America in Nashville, Houston, and Charlotte. She holds a B.S. in Business Administration from the University of North Carolina at Chapel Hill.
WILLIAM K. NICROSI II, CPA, CFP®
Investment Counselor | Birmingham
Before joining the firm in 2010, William served as Chairman, President and COO of Arlington Trust Company, Inc. and was a partner in the family office firm of Arlington Partners LLC. He holds a B.S. in finance and accounting from Birmingham-Southern College. Previously, he was a partner in the CPA firm of Williams, Taylor & Associates P.C. (currently Forvis). William received his CPA designation in 1993 and is a member of the AICPA and the ASCPA.
MICHAEL C. TEEL, J.D.
Investment Counselor | Birmingham
Mike joined the firm in 1998 after serving as Vice President and Trust Officer for AmSouth Bank for eleven years. Mike taught Legal Environment of Business at Samford University for thirty years and is past President of The Estate Planning Council of Birmingham. He has a bachelor’s degree from Southern Methodist University and an MBA and J.D. from the University of Missouri. He also holds an M.B.S. from Birmingham Theological Seminary.
JOHN M. WILLIAMS
Investment Counselor | Birmingham
John joined the firm in 2007 after serving as a Managing Director in the Institutional Fixed Income Division for Morgan Keegan and as a Vice President in the Institutional Investment Banking Division of Compass Bank. John received a B.S. degree in Finance from The University of Alabama Culverhouse School of Business and has been engaged in the investment management business since 1980.
C. ROBIN HANES III, CFP®
Investment Counselor | Mobile
Robin joined Leavell in 2019. His previous work experience includes thirteen years in commercial banking with leadership roles in relationship management and underwriting. Robin graduated from Auburn University with a B.S. in finance. He holds the CERTIFIED FINANCIAL PLANNER™ designation. Robin’s community involvement includes serving on the Boards for Mobile Chamber of Commerce, Boys and Girls Clubs of South Alabama, and on the Alumni Association for UMS-Wright.
DANIEL B. HUBBARD, CPA, CFP®
Investment Counselor | Birmingham
Daniel joined the Leavell team in 2019. Daniel holds a bachelor’s and master’s degree in accounting from The University of Alabama. He previously worked at RSM US LLP as an assurance supervisor, providing assurance services to a variety of large privately-held clients. He also received his CPA designation in 2017 and is a member of the AICPA and the ASCPA. He earned his CERTIFIED FINANCIAL PLANNER™ designation in 2021.
RICHARD M. STIMPSON
Investment Counselor, Chairman | Mobile
Richard has been in the financial services industry since 1987. He worked for FTN Financial in Fixed Income Sales and later for Sterne Agee in a similar capacity. Richard joined the firm in 2006. He holds a B.S. in pre-law from The University of Alabama and served as in Infantry Officer in the United States Marine Corps. His community involvement entails membership in the Rotary Club of Mobile, Downtown Mobile Alliance, and serves on the Board of the Alabama Policy Institute.
JOHN WADE THERRELL III, CFP®
Investment Counselor | Mobile & Fairhope
John Wade has been with the firm since 2015 after a successful 10-year career in the banking industry. He earned his CERTIFIED FINANCIAL PLANNER™ designation in 2018 and he became an approved advisor for the NFL Players Association in 2024. John Wade holds a B.A. from Rhodes College as well as a graduate degree in banking from the Southwestern Graduate School of Banking (SWGSB) at SMU. He played football at Rhodes where he was a four-year starter.
Shelly A. Cordell Angelia B. Deese Tara R. Duncan Kee P. Goostree
Kathy P. Greer
Lauri T. Bryant
Casey H. Mobley
Helen T. Hinds
OUR VALUES OUR PORTFOLIO MANAGERS
RICHARD E. ANTHONY, JR., CFA®
Portfolio Manager | Birmingham
Before joining the firm in 2004, Rich served as an Analyst and Portfolio Manager at AmSouth Bank. He holds a B.S. in business administration and an M.S. in engineering from The University of Alabama. Rich is a CFA charterholder and member of the CFA Institute. He enjoys playing golf and spending time with his family.
TIMOTHY S. HEALEY, CLU
Portfolio Manager | Birmingham
Tim joined the firm in 1986 and has been continuously engaged in the investment management business since 1975. Tim previously served as Second Vice President, Equity Portfolio Manager, Preferred & Common Stock Analyst, and Venture Capital Manager & Fixed Income Analyst at Torchmark Investment Advisory Company, Inc. He earned his Bachelor’s degree in Finance from The University of Alabama.
ROBERT M. HOPE III
Portfolio Manager | Mobile
Robert joined the firm in September of 2023. Born and raised in Mobile, Alabama, Robert graduated with a degree in history and economics from Harvard University in 2019. Before Leavell, he worked for three years in oil and gas finance in New York and Houston and then served for about a year in the U.S. Intelligence Community. In his spare time, Robert is a big history buff and enjoys spending time with his family on Mobile Bay.
THOMAS W. LEAVELL
Portfolio Manager, Founder | Mobile
Tom founded the firm in 1979 and has been continuously engaged in the investment management business since 1973. Tom previously served as Manager of Trust Investments at First National Bank of Mobile and as Portfolio Manager/Security Analyst at Wachovia Bank & Trust Company. Prior to that, Tom was an Air Force Captain assigned to a flight crew with Strategic Air Command B-52 bombers. He holds a B.S. from Auburn University and an MBA from the University of Kentucky.
E. ANDREWS GRINSTEAD
Portfolio Manager, Chief Executive Officer | Mobile
Before joining the firm in 2010, Andrew served as an investment consultant to the New York-based hedge fund Southpoint Capital Advisors, LP. Andrew graduated magna cum laude with a degree in economics from Harvard College, and received his MBA, with distinction, from Northwestern University’s Kellogg School of Management where he was chosen by faculty as the top finance student in his graduating class.
KENNETH F. HUBBARD
Portfolio Manager | Birmingham
Kenny joined the firm in 2024. His previous work experience includes 39 years in the financial industry, with the last 25 years in portfolio management. Kenny received a degree in finance from The University of Alabama. He is a member of Frazer Church where his leadership roles included serving as past chair of the finance committee.
C. DALTON NIX, CIMA®
Portfolio Manager | Mobile
Dalton joined the Leavell team in 2016. He previously worked for an Atlanta-based boutique investment bank and operational advisory firm that helped privately held businesses navigate merger and acquisition transactions. Dalton holds the Certified Investment Management Analyst® certification. He graduated cum laude with a degree in finance and a minor in economics in 2007, and later earned his MBA in 2011, both from The University of Alabama.
EDWARD B. NORFLEET, JR., CFA®
Portfolio Manager | Mobile
Edward joined the firm in January 2022. Born and raised in Richmond, Virginia, Edward attended St. Christopher’s School and then the University of Virginia in Charlottesville, where he graduated with degrees in economics and psychology from the College of Arts and Sciences. Since graduation, he has worked primarily in fixed income investments, with roles ranging from distressed credit analysis to mortgage-backed securities trading.
JASON J. KLAUK
Portfolio Manager | Birmingham
Jason joined the Leavell team in September 2024. He previously worked for GMT Capital, a $3 billion Atlantabased long/short hedge fund, where he was responsible for generating new equity investments for the fund. Most recently, he was a portfolio manager of publicly traded insurance companies for Millennium Management, a New York-based multi-strategy hedge fund. Jason holds a bachelor’s and master’s degree in finance from the University of Florida.
Leslie A. Boshell
Leigh D. Morton April D. Holloway Margaret H. Alves, JD P. Reeves Duggan Rhonda L. Potts
Kennedy A. Martinez
Legacy Focus
We understand that all of our clients, whether they are families, individuals, non-profits, or corporations, are creating a legacy for the benefit of others. Our primary goal is to help them with that mission.
Client Alignment
Leavell will always act in a fiduciary capacity when providing investment advice and discussing strategies with our clients. We are not a hybrid advisor affiliated with a bank, insurance company, or brokerage firm, so we do not sell products to generate additional revenue. We are not affiliated with a law firm or an accounting firm, so we do not cross-sell services to generate additional revenue. We are a “fee-only” independent investment advisory firm.
Built for Longevity
Not only do we work with many multi-generational clients, we are intentional about investing in our own corporate future. Leavell is
100% employee-owned and our corporate structure provides for a seamless internal ownership transition to the firm’s future leaders. We aim for our longevity because it benefits our clients and the communities in which we live.
Generational Diversity
We are committed to being a multigenerational firm. Leavell associates have diverse perspectives, skill sets, and backgrounds that strengthen our collective knowledge and investment approach. You can expect personal, proactive attention from your dedicated team. You will also benefit from Leavell’s combined experience and collaborative approach.
Community
We are active in our communities. Like our clients, we contribute time, money, and board service to not-for-profits and charitable organizations.
Mobile & Fairhope Team Birmingham Team
ABOUT US
Leavell has been committed to helping families live their legacy for over 40 years.
Experience and expertise—it shows in everything we do.
We believe legacies are built, not just with well-invested money, but by the actions taken in our everyday lives. We foster a relationship of trust so that we can understand the legacy our clients hope to leave behind, and help them live their legacy today.
Our collaborative approach separates Leavell from other investment advisory firms. We assign three specific team members to each client account: an Investment Counselor, a Portfolio Manager, and a Client Services Representative. These team members work in concert to listen to clients and execute their objectives. Our teams are passionate about working with clients who live with purpose.
In 1979, Tom Leavell founded Leavell Investment Management, Inc. in Mobile, Alabama. Tom saw a need in the financial services industry for high-net-worth families to have their money managed by a firm that had a fiduciary duty to act in their best interests. The Firm has maintained this approach to asset management for over 40 years, always providing an unwavering commitment to our client’s needs and objectives.
Review Current Circumstances, Clarify Objectives, Determine Appropriate Risk Tolerances.
Determine Appropriate Asset Allocation.
Customize Portfolio Investments to Meet Clients’ Specific Situations.
Portfolios
OUR PROCESS
Investment Philosophy
PURSUE
Appropriate Asset Allocation
Custom Portfolios
Broad Diversification
Tax Aware Investing
Ongoing Review
Long Term Perspective
Trading Leverage and Derivatives
Fees
In The News
OUR CLIENTS
Individual Investors, Professionals, Executives, and Business Owners
Our team understands how important time is to our clients. We strive to provide comprehensive wealth management and financial planning to fit each client’s needs based on his/her risk tolerance and retirement goals. Most investors do not have the technical expertise or availability to actively monitor their investment accounts; these investors are seeking a partner they can trust to always act in their best interest. Leavell’s internal collaboration and our team approach allow us to make sure no financial decision goes overlooked.
Families with Complex Needs
Our team understands each client has unique circumstances within their family, so we strive to offer financial solutions to meet these families’ goals and objectives. We coordinate all aspects of their financial lives so they can focus on what matters most, living their legacy. Our clients take comfort knowing we have a group of experts, acting in a fiduciary capacity, to help manage their wealth, now and for future generations.
Employer-Sponsored Retirement Plans
Whether your company is looking to start a 401(k), 403(b), defined benefit, or a nonqualified deferred compensation plan, we have the expertise to help design a plan to fit your company’s needs and objectives. Retirement plans can be a great tool for employee retention and hiring top talent. Additionally, plans can provide a great way to defer taxes, reduce taxable income, and allow investments to grow tax-deferred.
For companies that have an existing employer-sponsored retirement plan, we start by benchmarking the company’s current plan costs versus other plans of similar size in terms of assets and the total number of participating employees. Many plan sponsors are unable to identify the total costs in addition to internal investment fees associated with investment products offered to their employees. Our team creates a detailed report showing a breakdown of the total cost of these plans by each provider.
Endowments and Foundations
Leavell serves endowments and foundations (public and private) by acting in a fiduciary capacity to the organization, board members, and its donors. We strive to offload the stress of investment management from families and board members by understanding the non-profit’s objectives, managing income needs, and developing or reviewing the Investment Policy Statement (IPS).
By hiring one of Alabama’s largest independent investment advisory firms, donors can have peace of mind knowing the funds are invested prudently and according to agreed-upon objectives established in the IPS.
Hiring an Advisor Can Add Over 3% to Total Return.
401(K)/RETIREMENT PLANS
VALUE CONTRIBUTION
Co-fiduciary partnership with ongoing performance monitoring
Recordkeeper / Third Party Administrator (TPA) / Trustee search and selection
Assistance in crafting an Investment Policy Statement
Overall plan expense management with full fee transparency
Enhanced plan Participation through on-going employee education Risk management through emphasis on asset allocation and diversification
Simplified decision making through use of risk-based models & target date funds
One-on-one meetings with Plan participants
EDUCATIONAL COMPONENTS
RETIREMENT PLANNING
Plan highlights
Benefits from participation
Importance of starting early
Roth vs Traditional 401(k) decision
Beneficiary designation
Purpose of social security
INVESTMENT BASICS
Historical returns on stocks & bonds
Stock market contractions & expansions
Introduction to investment risk
Basic investment terminology
Reduction of risk through diversification
Dangers of market timing
Importance of rebalancing
INVESTMENT DECISIONS
Investor risk profile questionnaire
Risk based model portfolios Target date funds
RISK-BASED MODEL PORTFOLIOS
For 401(k) clients, model portfolios allow participants to select an asset allocation that matches their individual risk profile.
KEY CONSIDERATIONS:
I. Willingness To Take Risk
Personal Risk Tolerance
II. Capacity To Take Risk
Investment Time Horizon
Non-Retirement Assets and Income
INVESTOR RISK PROFILE
FREQUENTLY ASKED QUESTIONS
FREQUENTLY ASKED QUESTIONS
What is the difference between a RIA and a bank or brokerage firm?
As a Registered* Investment Advisor (RIA) with the Securities and Exchange Commission (SEC), we are held to the highest level of responsibility in the investment industry. Banks and brokerage firms are not held to the same standard of care to act solely in your best interest (this is known as a fiduciary standard).
Are you a “Hybrid” RIA?
No. Many RIA’s are also affiliated with brokerage firms, meaning they have dual registrations, where in some circumstances they act as a fiduciary, and in others they do not. We always act as a fiduciary. We are also not affiliated with any insurance companies, so we are not tempted to recommend insurance or annuity products for the sake of extra commissions.
Does an independent firm such as Leavell have the same access to investment securities as the largest banks and brokerage firms?
Yes. We have access to the full universe of traded investment securities needed to appropriately diversify portfolios.
Does Leavell take possession of assets on behalf of clients?
No. Generally, except for special circumstances as requested by the client, Leavell does not hold client assets (known as “custody”). Your assets will be held by an independent third-party custodian. As such, there is always an important separation between Leavell and the ownership of your assets, thereby mitigating a potential misappropriation of funds.
Who makes up the designated “team” working on our account?
You will have both an Investment Counselor and a Portfolio Manager working together with you. In addition, a dedicated client service representative and an operations team are also assigned to your account.
How are you paid?
We charge a percentage fee based on the value of your assets under management. We are “fee-only advisors.”
Do you receive any form of compensation other than the fees we pay you?
No. Our single source of revenue is the fees we charge our clients. We receive no additional fees or expense reimbursements from any third party, except the management fee we receive from our two in-house mutual funds.
Who owns the firm?
We are an independent firm. Our owners are our employees, thus our success is directly tied to the success of our clients. No single employee owns more than 25% of the firm. This means we are able to make important and strategic decisions as partners. It also means the future of our firm is not reliant on the health or personal circumstances of any one individual.
What obligation are we under if the firm does not meet our expectations?
If you do not believe we are performing to your expectations, we ask only for a 30-day notice. Because we do not take possession of client assets and we do not require the use of any proprietary investment products, transitioning to another service provider is straightforward. Unlike some competitors, we do not charge a separate termination fee.
Does the firm take into consideration assets held elsewhere when developing an investment strategy for our portfolio?
Yes. One of the most important roles of the Investment Counselor is to comprehensively understand your current financial circumstances and your goals for the future.
As a client of Leavell, will your team work with our other trusted advisors to ensure the best decisions are being made on our behalf?
Yes. Another important role of the Investment Counselor is to seamlessly integrate our services with the services provided by your accountant and estate planning attorney. It is our team’s goal to stay current on your unique circumstances so we can communicate important financial details to others. This is especially important during times of family stress due to illness or death.
Our financial needs will change over time and perhaps suddenly. How timely is your team able to adjust to these changes?
We are always “on call” for our clients. We strive to help clients anticipate and adjust their financial plans ahead of ever-changing circumstances, but we stand ready to manage any changes that arise unexpectedly.
With volatile markets today, how do we avoid impulse reactions to jump in and out of the market?
That’s why we are here. Our clients feel less emotionally burdened because they know their investments are maintained by professionals with decades of market experience. While always honoring our clients’ wishes, we strive to help them remain focused on long term goals in the midst of short term volatility.
