Wealth manager, independent · Erie, PA
Hbks Wealth Advisors
HBK Sorce Advisory LLC · SEC-registered investment adviser · CRD 112139 · SEC 801-60424
At a glance
Hbks Wealth Advisors is an SEC-registered investment adviser based in Erie, Pennsylvania, with $7.7B in regulatory assets under management as of its Form ADV filed February 17, 2026. It reports 7,344 individual clients, 1,597 of them high-net-worth, holding an average of about $0.9 million each, and 109 employees. That ranks it 138th among the nation’s 5,657 independent wealth management RIAs and 7th of 260 in Pennsylvania. It reports 2 custodians for its clients’ separately managed accounts: Charles Schwab and Fidelity Distributors Company.
Main office 814-836-5776hbksorce.comLinkedInAs filed on Form ADV
- Regulatory AUM
- $7.7B
- Rank among independent wealth managers
- #138 of 5,657
- Rank among all SEC RIAs
- #1,609 of 17,210
- Rank in Pennsylvania
- #7 of 260
- Individual clients
- 7,344
- High-net-worth clients
- 1,597
- Accounts
- 21,190
- Discretionary
- 94% of AUM
- Employees
- 109
- Advisory staff
- 73
- Offices
- 13
Owners and executives on its Form ADV
- Christopher M. AllegrettiChairman, Member
- Scott A. CrossMember, Chief Operating Officer
- Michael G. WassmannChief Compliance Officer
Custody and brokerage
Broker-dealer
Hybrid RIA
Hbks Wealth Advisors is a hybrid RIA: 19 of its employees are also registered representatives of a broker-dealer. It names an affiliated broker-dealer: HBK Sorce Brokerage LLC.
- HBK Sorce Brokerage LLC ↗CRD 107690
It doesn’t hold client accounts or customer funds itself. Its annual audited report filed with the SEC, November 2025
Its Form ADV brochure (filed February 2026) names HBK Sorce Brokerage as the broker-dealer its advisers are registered with.
Cross, an associated person of HBKS, is also the President and a registered representative of HBK Sorce Brokerage LLC.
Who it serves
| Client type | Clients | Regulatory AUM | Share |
|---|---|---|---|
| High-net-worth individuals | 1,597 | $5.7B | 74% |
| Individuals | 5,747 | $1.2B | 16% |
| Corporations or other businesses | 301 | $749M | 10% |
| Pension and profit sharing plans | 161 | $0M | 0% |
| Charitable organizations | 18 | $0M | 0% |
Disciplinary disclosures
Hbks Wealth Advisors reports no disciplinary disclosures in Item 11 of Form ADV. Read the details on the SEC’s adviser search ↗
Services
- Financial planning
- Portfolio management for individuals and small businesses
- Portfolio management for businesses and institutions
- Pension consulting
- Selecting other advisers
- Periodicals or newsletters
How it’s paid
- A percentage of assets under management
- Hourly charges
- Fixed fees
Form ADV and brochures on the SEC’s adviser search ↗hbksorce.com ↗
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Free while Atlas launches: create a free account and confirm your email. Every figure comes from SEC filings.
Similar-size RIAs in Pennsylvania
All of Pennsylvania →| Firm | Regulatory AUM | Clients |
|---|---|---|
| Callan Family Office, LLCRadnor | $10B | 170 |
| Wealthcare Advisory Partners LLCWest Chester | $8.3B | 10,696 |
| Confluence Financial PartnersMcMurray | $7.8B | 5,148 |
| Miller Investment Management, LPWest Conshohocken | $7.1B | 155 |
| Prowell Financial Management, LLCExton | $6.9B | 57 |
| Greycourt & Co., Inc.Pittsburgh | $6.6B | 36 |
Background
Questions
How much does Hbks Wealth Advisors manage?
Hbks Wealth Advisors reports $7.7B in regulatory assets under management across 21,190 accounts, 94% of it on a discretionary basis, on its Form ADV filed February 17, 2026.
How many clients does Hbks Wealth Advisors have?
It reports 7,344 individual clients: 1,597 high-net-worth individuals and 5,747 other individuals. Individuals account for about 90% of its regulatory assets.
Where is Hbks Wealth Advisors headquartered?
Its main office is in Erie, Pennsylvania. It reports 13 offices in total and 109 employees, 73 of whom perform investment advisory functions.
How does Hbks Wealth Advisors charge clients?
On Form ADV it lists these forms of compensation: a percentage of assets under management; hourly charges; fixed fees. Fees and minimums are set out in its Form ADV Part 2A brochure, available on the SEC’s adviser search.
What custodian does Hbks Wealth Advisors use?
It reports 2 custodians for its clients’ separately managed accounts: Charles Schwab and Fidelity Distributors Company. On Schedule D of its Form ADV filed February 17, 2026, it reports these amounts held: Charles Schwab ($5.7B); Fidelity Distributors Company ($826M). Form ADV lists only custodians holding 10% or more of separately managed account assets.
Is Hbks Wealth Advisors a hybrid RIA with a broker-dealer?
Hbks Wealth Advisors is a hybrid RIA: 19 of its employees are also registered representatives of a broker-dealer. It names an affiliated broker-dealer: HBK Sorce Brokerage LLC. Those representatives can also earn commissions on brokerage business through the broker-dealer, where different rules apply than for advisory accounts.
Is Hbks Wealth Advisors a fiduciary?
As an SEC-registered investment adviser, Hbks Wealth Advisors owes its advisory clients a fiduciary duty under the Investment Advisers Act of 1940, which includes duties of care and loyalty. 19 of its employees are also registered representatives of a broker-dealer, where different rules apply to brokerage recommendations.
Where these numbers come from
Every figure is Hbks Wealth Advisors’s own answer on its latest Form ADV, from the SEC’s registered-adviser list as of October 1, 2026: regulatory assets and accounts (Item 5.F), clients by type (5.D), employees (5.A and 5.B), compensation (5.E) and services (5.G). Custodians come from Schedule D 5.K(3) of its latest filing (2026-02-17), which lists those holding 10% or more of separately managed account assets and the amount at each. “Hybrid” means some employees are also registered representatives of a broker-dealer (Item 5.B(2)); affiliated broker-dealers are the related persons it lists in Item 7.A and Schedule D. Firm type comes from its own answers: broker-dealer firms are registered broker-dealers themselves (Item 6.A); private fund advisers manage mostly private funds (Item 7.B, 5.D); wealth managers manage at least half their assets for individuals (5.D). Its national rank compares it with every US-based independent wealth management RIA, the same field as The Largest RIAs. Figures are as of the firm’s last annual update, so they can lag recent deals and market moves. Regulatory AUM counts assets the firm continuously supervises and can differ from what a firm markets.
Not an endorsement or a recommendation. Before hiring any adviser, read its Form ADV Part 2A brochure and check its record on the SEC’s adviser search. How to check a financial advisor →