Covenant Wealth Advisors

We believe in comprehensive wealth management advice delivered with transparency and objectivity.


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Wealth Management, Delivered with Transparency and Objectivity

Covenant Wealth Advisors is an independent wealth management firm and fee-only financial planner built by financial planners, not product sales people. As a registered investment advisor and fiduciary, we're required by law to always always put our client's best interests ahead of our own. A culture of learning, teamwork, and dedication to always doing what's right for our clients drives Covenant's people.

Explore Our Capabilities

Covenant Wealth Advisors by the Numbers


Years of Experience


Families served


Million in assets under management*

Our Team

Mark Fonville Financial Advisor Richmond

Mark Fonville, CFP®

President and Wealth Manager


Katherine Fonville

Vice-President and Wealth Manager

Rob Smith, MBA, CFP®

Wealth Manager

Financial Advisor Glen Allen Richmond VA

Scott Hurt, CFP®, CPA

Wealth Manager


Terri Leonard, FPQP™

Client Services Manager

We are driven by our values


We do what we say we're going to do, when we say we're going to do it. 


Cookie cutter solutions don't cut it for us. Our value begins where others end.


Clients trust us with their most important financial decisions and we never forget that the honor is ours.

Enjoy life and family

We try to live our best lives just as we encourage our clients to do as well.

Go the Distance

It's in our DNA to provide the type of service you never expected.


We've never learned anything by talking. Asking questions and listening helps us provide better advice.

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Our Firm

Covenant Wealth Advisors is more than a private wealth management firm - we're an intelligent team of investment management, fee-only financial planning, and retirement income planning experts.

Founded in 2010 with offices in Richmond, VA and Williamsburg, VA, we are one of a handful of fully independent wealth management firms and fee-only financial planners in Central Virginia. 

Our financial advisors serve as your Personal CFO , and ensure that your overall financial goals are met in a prudent way. We do this by following a simply and elegant wealth management process. Our process provides clarity on what's important to you, we deliver insights on how to accomplish your vision, and we partner with you long-term to guide you along the way.

Our mission is to provide our clients with financial security and peace of mind through a lifetime of trust, personal relationship, and objective advice. 

When we take on new clients, they become part of our extended family, and over the years, we’ve developed multi-generational relationships with many of them.

Clients we work with include corporate executives, successful professionals, business owners, christian families, entrepreneurs, and individuals and families with substantial and complex assets. While our clients’ investable assets typically exceed $1 million, we are able to serve their children and heirs at every asset level.

Our Story

In 2008, Katherine Fonville was working for a major brokerage firm.

As a consultant, she trained some of the best financial advisors in Richmond, Va on how to utilize financial planning software for their clients. During this time, Katherine discovered some great ways to manage wealth and some powerful lessons on what not to do.


However, Katherine also started to notice something curious: Many financial advisors were recommending products that seemed to benefit the advisor more than the client.


We'll admit, she was surprised. How could Richmond financial advisors at one of the biggest brokerage firms in the country NOT be acting in their client's best interest?

As it turns out, brokers (also known as registered representatives), aren't required to put client interests ahead of their own. Instead, brokers are held to a standard of advice called the suitability standard. This means that brokers must recommend products that are simply suitable, but not necessarily in the client's best interest. For example, a broker can recommend products that pay a big commission, even though similar, less expensive products may exist elsewhere.


Katherine saw this as a major conflict of interest and felt individuals deserved better. After researching further, she discovered that registered investment advisors are very different from brokers. In fact, they are required by law to act as a fiduciary. Investment advisors must put the client's interests ahead of their own. 


As a result of what Katherine experienced, she decided that individuals and families deserved better. So, in 2010 she founded Fonville Wealth Management, a fully independent registered investment advisor. 


In 2018, Katherine's husband, Mark Fonville, joined the firm after nearly two decades of consulting financial advisors on investment strategy, financial planning best practices, and practice management. Soon thereafter, Fonville Wealth Management acquired Covenant Wealth Advisors from Rob Topping and assumed the same name.


Today, our vision is to become the most trusted independent wealth management firm in Central Virginia.

We welcome you to learn how our financial planners can guide you toward accomplishing your life goals and aspirations.

*AUM as of 12/31/2018

Start Here to See if We Can Help


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Toll Free: (888) 320-7400


Hours of Operation:

Mon - Friday: 09:00 AM - 05:00 PM 



351 McLaws Circle,

Suite 1

Williamsburg, VA 23185

(757) 259-0111



4870 Sadler Road


Glen Allen, VA 23060

(804) 729-5265

Covenant Wealth Advisors is a fee only financial planner and registered investment adviser with offices in Richmond, Va and Williamsburg, Va. Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™ and federally registered CFP (with flame design) in the U.S., which it awards to individuals who successfully complete CFP Board’s initial and ongoing certification requirements. *AUM as of June 30, 2018