Regal Investment Advisors LLC

Regal Investment Advisors LLC (doing business as LionShare) provides discretionary investment management to independent investment adviser representatives and, through subadvisor agreements, to other SEC‑ and state‑registered advisers. Its brochure indicates services are delivered to a mix of client types through those Financial Advisers, including individual (both non‑HNW and high‑net‑worth), charitable, and corporate/business clients.

LionShare offers a menu of Proprietary Strategies (listed in the brochure as Dividend Plus, Regalfolios, Dunamis, Durand, LionShare Model Allocation Series, and LionShare Partner Series) alongside third‑party model portfolios that use mutual funds, ETFs, equities, fixed income, and, for approved accounts, covered‑call option overlays. The Financial Adviser selects an Allocation for each account and grants Regal discretionary authority to implement, rebalance, and, where applicable, overlay third‑party Strategies; clients do not have direct contact with LionShare and rely on their Financial Adviser for suitability and ongoing communications.

The brochure discloses several features that distinguish Regal from many peers: it notes that Regal advertises predecessor performance for strategies it manages and it discloses a prior SEC enforcement action (including disgorgement, prejudgment interest, and civil penalties) as well as a $20,000 FINRA fine imposed on its broker‑dealer affiliate for an omission on Form CRS. The firm also documents ownership ties to an affiliated broker‑dealer, revenue‑sharing arrangements (including an annual fee related to specific North Star funds), and participation in Fidelity and Schwab custodian programs that provide economic benefits to the firm.