Focused on the Long View: Capital Management at Stephens | Stephens

Who We Are

What We Do

We provide investment banking, research, sales and trading, asset and wealth management, public finance, insurance, private capital, and family office services.

About Us

We are a family-owned financial services firm that values client relationships, long-term stability, and supporting the communities where we live and work.

The Stephens Story

The idea of family defines our culture, because each of us knows that our reputation is on the line as if our own name was on the door.


Our reputation as a leading independent financial services firm is built on the stability of our longstanding and highly experienced senior executives.

Impact Initiatives

We are committed to corporate philanthropy; economic and financial literacy advocacy; and diversity, equity, and inclusion initiatives.

Our Brand Ambassadors

Stephens is proud to sponsor the PGA TOUR, LPGA Tour, and PGA TOUR Champions careers, as well as applaud the philanthropic endeavors, of our Brand Ambassadors.

Making Connections

We host many highly informative meetings each year with clients, industry decision makers, and thought leaders across the U.S. and in Europe.

Our Businesses

Capital Management

We provide fiduciary investment strategies to public-and private-sector institutional clients through asset allocation, consulting, and retirement services.

Fixed Income Sales & Trading

Decades of proven performance and experience in providing tailored fixed income trading and underwriting services to major municipal and corporate issuers.

Institutional Equities and Research

Proven industry-leading research, global market insights, and client-focused execution.


Customized risk management, property & casualty, executive strategies and employee benefits solutions that protect our clients over the long term.

Investment Banking

We assist companies with accessing capital through innovative advisory and execution services that help firms achieve their strategic goals.

Private Capital

We have been a trusted and reliable source of capital for private companies for over 70 years.

Private Wealth Management

Our experienced Private Client Group professionals develop customized investment strategies to help clients achieve their financial goals.

Public Finance

We are a trusted municipal advisor with proven expertise in public financings. We also work with clients in negotiated and competitive municipal underwritings.

Wealth & Assets

Focused on the Long View

Jul 18, 2023

Founded in 1933, Stephens is a privately-held, global financial services company.

Stephens Capital Management was created in 1983 to invest for the Stephens family and our clients. The key to our success is our investing acumen. We utilize our market expertise in conjunction with an in-depth understanding of each client’s specific goals to offer uncompromised, independent investment advice. We’ve earned the long-term trust of our clients, which include state and local governments, foundations, pension and retirement funds, colleges and universities, families, as well as both public and private companies.

Our team-oriented approach creates solutions across asset classes, from stocks and bonds and asset allocation strategies to hedge funds and private instruments, according to each client’s unique investment policy and outlook. SCM tailors passive and active investment strategies unique to each institutional client. We match risk tolerance with liquidity needs, all while factoring in macroeconomic and sector trends. Doing so allows us to evaluate positions constantly.

Our purpose is to create and manage a portfolio that not only reflects the goals and culture of an institution or family, but also to establish the best plan to grow that portfolio. The portfolios we create are diversified and unique to each and every client. We quantify risk and make sure that our recommendations are aligned with our clients’ investment interests.

Scaling New Heights Together

Your Investment Horizon Requires an Advisor Who Understands Your Objectives
  • Stephens Inc. is family-owned and independent since 1933. This year we celebrate our 90th anniversary.
  • The firm maintains a strong capital position; as prudent investors, we focus on quality over quantity.
  • Stephens Capital Management is a division of Stephens Inc.
  • Some $10.4 billion in assets under advisement and supervision

Uncompromised, Independent Investment Advice

At Stephens Capital Management, we understand what it takes to help clients accomplish their financial goals. Running throughout our offerings below is our commitment as fiduciaries to put the optimal structure and strategy in place to reach those goals.

Asset Allocation

Our highly targeted Spectrum strategies are an integral part of asset allocation for high-net-worth clients. (We also use asset allocation strategies in our management consulting offerings below.) We utilize primarily exchange traded funds, on a discretionary basis, to gain exposure to a diverse mix of asset classes across equity and fixed income markets. The Spectrum Investment Committee keeps an unwavering focus on our clients' goals and continually monitors asset performance so our strategies reflect current realities.

Fixed Income Strategy

Our team collaborates with Stephens Fixed Income Sales & Trading to manage client assets on a discretionary basis. The Stephens Capital Management Fixed Income Strategy Program includes overseeing investment policy, strategy, security selection, and investment decisions.

Management Consulting

We serve as a combination of financial advisor and consultant. We combine our client-centered approach with specialized financial insight to deliver exceptional consulting for governmental and corporate pension plans, endowments, foundations, and family offices. Our team brings a wealth of experience and technical knowledge to create high-performing investment strategies to our clients. We develop investment policies, create asset-liability models and customized asset allocation plans, design tailored reporting, and can incorporate independent custodianship for account assets. It is not uncommon for us to run a Request for Proposal process to find a new record keeper or fund administrator. We’ll assist our client in finding the right vendor.

Retirement Services

Most Americans rely on the employer-sponsored plan as the foundation of their retirement savings. From the employer perspective, offering the right retirement plan is important for many reasons, not the least of which is attracting and retaining the very best talent in their respective industries. SCM intimately understands the needs of plan sponsors, which is why we’re a leading provider of fiduciary services in this field. We serve clients with as few as five employees and others in excess of 1,000.

Our specialized knowledge of what it takes to create the optimal retirement plan, as well as our arsenal of retirement tools, allows us to assist plan sponsors with their 401(k), 403(b), 457, defined benefit, and non-qualified deferred compensation plans. Our team helps plan sponsors manage their fiduciary responsibility, in either a 3(21) or 3(38) capacity, and implement the appropriate processes for plan decision-making. As a trusted advisor to the plan, we assist with Investment Policy Development & Review, Manager Search & Selection, Pension Risk Transfer Consulting, Performance Reporting & Monitoring, Plan Design & Benchmarking, and Record-keeper/Administrator Searches.

Our sole focus (unfortunately a bit of a rarity these days among the big firms wanting to sell their branded products) is to provide genuinely independent and unbiased guidance that is always in the best interests of the plan sponsor and its employees.

Alternative Assets

SCM offers our clients access to a wide variety of alternative investment strategies. We take a thoughtful approach to assisting clients in identifying the appropriate alternative strategies based upon their investment objectives, risk profiles and liquidity preferences. The investment options include access to hedge funds, co-investments, infrastructure, private equity, private debt, real estate, and secondaries. We actively collaborate with the client throughout the entire process, from strategic planning and implementation to fee negotiations and performance monitoring, all while offering ongoing education.

What Sets Us Above the Rest

At Stephens Capital Management, the most important thing we do every day is to think, act, and serve our clients. SCM’s independent outlook on investing and the capital markets is what drives us to be trusted advisors to boards of trustees, colleges, hospitals, other leading institutions, as well as families.

At SCM, we treat all of our clients—families and institutions alike—as we would our very own families. As trusted advisors, we are focused on ensuring that our clients receive the advice, counseling, and performance that they deserve and expect.


Doug Seelicke
Managing Director
[email protected]
o: 501-377-8088 | 800-755-1538
c: 501-747-4028

F.E. (Bo) Brister IV
Senior Vice President
[email protected]
o: 501-377-2063 | 800-643-9691
c: 501-747-4022

  1. 1 Assets under advisement as of 3-31-2023. “Stephens” (the company brand name) is a leading family-owned independent financial services firm. Stephens’ US operations are headquartered in Little Rock, AR, with strategic locations in the US and a European presence in the UK and Germany. Stephens Inc. is a Member of the New York Stock Exchange and the Securities Investor Protection Corporation and is regulated by the United States Securities and Exchange Commission and the Financial Industry Regulatory Authority. Stephens Europe Limited (Registered office: 12 Arthur Street, London, EC4R 9AB, Registered number 8817024) is authorised and regulated by the Financial Conduct Authority. For more information, visit © 2023 Stephens Inc. All rights reserved. Stephens Inc. Member NYSE, SIPC.
  2. The information in the accompanying report has been prepared solely for informative purposes and is not a solicitation, or an offer, to buy, sell or hold any security or a recommendation of the services supplied by any money management organization. It does not purport to be a complete description of the securities, markets or developments referred to in the report. We believe the sources to be reliable, however, the accuracy and completeness of the information is not guaranteed. We, or our officers and directors, may from time to time have a long or short position in the securities mentioned and may sell or buy such securities. Data displayed on this site or printed in such reports may be provided by third party providers. This report is not an official account statement of your account, and you should refer to your official customer account statement in the event of a discrepancy in value. 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Annuity information is provided by the insurance companies, and Stephens cannot guarantee its accuracy. Please refer to statements sent by the insurance companies for annuity valuations, tax reporting information and other details. Alternative Investments and other assets which are externally held are included on the report solely as a service to the customer and are not covered by SIPC. All Information about externally held Alternative Investments (including valuation) is derived from the customer or other external source, and Stephens cannot verify the accuracy of this information and is not responsible therefor. The indexes and models referenced in the charts presented are unmanaged and do not reflect any transaction costs or management fees. They were chosen to give you a basis of comparison for market segment performance. Actual investment alternatives may invest in some instruments not eligible for inclusion in such an index or model and may be prohibited from investing in some instruments included in such an index or model. You cannot invest directly in an index. The investment return and principal value of an investment will fluctuate so that the value of an investment, when sold or redeemed, may be more or less than the original cost. Blended benchmarks are rebalanced periodically. The blended return calculations for the benchmarks are determined by using the return performance data for the stated time period on each of the comparative index benchmarks as stated per asset class below, as reported by independent data services, and blending asset class and time period. Index performance information is provided for comparison only. Indexes are unmanaged, may assume reinvestment of all distributions and does not account for fees or any charges. It is not possible to invest directly into an index. Your portfolio value will fluctuate such that you may receive more or less than your original investment should you choose to close your account. Your net investment return will be reduced by advisory fees and other account expenses. All information on S&P Dow Jones Indices, LLC is Copyright © 2023 S&P Dow Jones Indices LLC, a division of S&P Global. All rights reserved. S&P Ratings Copyright © 2023 S&P Global Market Intelligence (and its affiliates as applicable). All rights reserved. For fee-based accounts, performance data may or may not be shown after considering Stephens’ investment advisory fees (net performance). Advisory fees and other expenses and charges reduce the returns realized by the client account. Advisory clients are referred to Part 2A Appendix 1 (“Brochure”) of Stephens Form ADV for additional information regarding advisory fees. The net effect of the deduction of fees on annualized performance, including the compounded effect over time, varies with the size of the fee and the account’s investment performance. For example, an account with a 1.50% annual management fee and 7% annual performance before fees will have a net performance after fees of about 5.4% per year over a five-year period. The same account with 12% annual performance will have a net performance after fees of about 10.32% per year over a five-year period. Compounding will similarly affect the account’s performance on a cumulative basis. If this account pays another account’s advisory fee, the net performance shown on this report will be affected by the advisory fee paid on behalf of the other account. If the advisory fee for this account is paid by another account, the effect of the advisory fee will be reflected in the net performance of the account paying the fee. 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