DFX Intelligence

RIA Intelligence

Registered investment advisers, the advisors registered through them, the capital they report, the private vehicles they run and the people who own them, as a graph with a filing date behind every number. RAUM is what the adviser filed, a move is two registration dates, and a class is a rule you can read.

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SEC-registered adviser

H••••• F•••••••• S•••••••• L•••

Independent wealth managerDallas, TexasCRD 107978SEC 801-46741websiteIAPD
Latest filing Aug 12, 2026
First filing on the tape Mar 30, 2012 · 46 filings
SEC status approved since Jun 23, 1994
RAUM
$1.4B
reported, Item 5.F
Discretionary
100%
of RAUM
Private clients
83%
$1.2B individuals and HNW
Advisors
15
registered through the firm on IAPD
RAUM per advisor
$93.5M
derived; firm RAUM over IAPD count
Employees
24
18 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
31
reported on Schedule D
History
46 filings and snapshots on the tape
RAUM$1.4B as of Aug 12, 2026
Mar 30, 2012$786M then
HNW client RAUM$1.1B as of Aug 12, 2026
Mar 31, 2018$431M then
State-registered IARs (5.B.3)14 as of Aug 12, 2026
Mar 30, 20120 then
Employees (5.A)24 as of Aug 12, 2026
Mar 26, 201310 then
Private funds31 as of Aug 12, 2026
Mar 30, 201228 then
RAUM -1.5% over the last fiscal year+12% a year over threeIARs 15 to 14
Practice profile
derived from the filing of Aug 12, 2026; every figure names its basis
Archetypes, each a printed rule
  • RIA with heavy alternatives · a wealth manager whose private fund gross assets are at least 25 percent of RAUM, or five or more private funds
  • RIA with private funds · a wealth manager (private-client share at least 50 percent) that reports at least one private fund on Schedule D 7.B.(1)
RAUM per advisor
$93.5MderivedRAUM over IAPD advisors; not a book size
Clients per advisor
27derivedindividual and HNW clients (5.D) over advisors
Average HNW client
$4.3MderivedHNW RAUM over HNW clients
Average account
$1.1MderivedRAUM over accounts (5.F.2.f)
Discretionary
100%derivedof RAUM
Institutional
1.3%derivedpensions, charities, corporations, government, insurance, banks, other advisers
Employees per advisor
1.6derivedItem 5.A over advisors
Advisors per office
15.0derived1 offices incl. principal (1.F.5)
RAUM growth, one year
-1.5%derivedbetween the last two annual amendments
Advisor growth, one year
-6.7%derivedItem 5.B.3 between annual amendments
Client growth, one year
-16%derived
Compensation
percentage of assets, hourly, fixed feesreportedItem 5.E
Advisory activities
financial planning, portfolio management for individuals, portfolio management for businesses and institutions, portfolio management for pooled vehicles, selection of other advisersreportedItem 5.G
Custody
$683M, 218 clientsreportedItem 9.A
Ownership
no PE, bank or public-company owner found on Schedule Aderived
Advisor book size
not public; not estimatedreported
Also answered yes on Form ADV
  • buys or sells securities as principal to or from clients (8.A.2)
  • has discretionary authority over which securities are bought or sold (8.C.1)
  • receives research or other products from a broker-dealer, soft dollars (8.E)
  • compensates persons for client referrals (8.G.1)
  • compensates non-employees for client referrals (8.G.2)
  • has custody of client cash or bank accounts (9.A.1.a)
  • a related person has custody of client cash (9.B.1.a)
  • a related person has custody of client securities (9.B.1.b)
  • marketing includes hypothetical performance (5.L.3)
Where the RAUM sits
Form ADV Item 5.D, latest filing
  • High-net-worth individuals$1.1B80%
  • Pooled investment vehicles$224M16%
  • Individuals$38.4M2.7%
  • Charitable organizations$18.1M1.3%
  • Corporations and businesses$1.0M0.1%
Individual clients
151reported
HNW clients
259reported
Pension plan clients
n/areported
Charitable clients
3reported
Accounts
1,276reported
Financial planning clients
11-25reported
Wrap fee programs
noreported
Custody of client assets
$683M for 218 clientsreported
Compensation
% of AUM, fixed, hourlyreported
Class basis
private_client_share=0.83 fund_share=0.16 institutional_share=0.01 related_bd=false related_bank=false bd_reps=0.0derived
Advisors registered through the firm
15 on IAPD today, longest tenure first
NameBranchHere sinceIn industryPrior firms
J•••• N• H•••••Personal Financial SpecialistDallas, TxJul 28, 199445 y0
J••• T• H•••••Dallas, TxDec 11, 200325 y0
D•••• D••••• C•••••Certified Financial PlannerDallas, TxJun 21, 201117 y0
S•••••• J•••• H•••••Dallas, TxJan 23, 201214 y0
W•••••• L••• G•••A•••••, Tx Feb 7, 201224 y1
R•••••• W•••• H•••••Dallas, TxAug 14, 201318 y0
A••• K•••••Certified Financial PlannerDallas, TxSep 10, 201313 y0
E•••• N••••• S•••••••Certified Financial PlannerDallas, TxSep 10, 201511 y0
J••• M••• R••••••Dallas, TxJun 3, 201713 y0
M•••• C••••••• C••••Dallas, TxMar 27, 201912 y0
G•••••• V•••••• M•••••••••Certified Financial PlannerDallas, TxOct 30, 201911 y2
S••••• A•• C••••••Certified Financial PlannerDallas, TxOct 3, 202210 y0
C•••••• M•••• C•••••Certified Financial PlannerDallas, TxAug 20, 202510 y0
W•••••• R••••• M••••Chartered Financial AnalystDallas, TxApr 27, 202612 y0
G•••• N••••• B•••••••••Certified Financial PlannerDallas, TxAug 14, 202610 y0
Advisor movement
1 left, 0 joined in 12 months
net -1 in 12 months1 left in 90 days0 joined in 90 daysdeparture rate 6.7% of current headcount2 left over 36 months
Left, latest
Joined, latest
Private funds
101 reported on Schedule D 7.B.(1)
FundTypeGross assetsOwnersFirst reported
H•••••• M•••••• P••••••• I•• L•Other Private Fund$27.4M17Mar 25, 2022
H•• M•••••• P••••••• V• L•Other Private Fund$27.0M90Mar 30, 2023
H••••• M••••••• P••••••••• F•••••no longer reportedReal Estate Fund$25.2M99Mar 30, 2012
H•••••• M•••••• P••••••• • I••Other Private Fund$23.9M96Mar 30, 2020
H•• S• A••••••••• I•• L•$17.0M100Aug 12, 2026
H•• M••••••••• L•no longer reportedReal Estate Fund$16.5M47Mar 31, 2016
H•• S•••• B•••••• R• I• L•$15.3M86Aug 12, 2026
H•• R••••••••• O•••••• L•$13.4M87Aug 12, 2026
H•••••• M•••••• P••••••• • I•Other Private Fund$12.2M74Mar 31, 2018
H•• W••• A••••••••• L••$12.1M77Aug 12, 2026
H•• M•••••• P••••••• V•• L•$11.5M93Aug 12, 2026
H•• O••• F••• 2•••• L•Other Private Fund$11.4M88Mar 25, 2024
H•• B•• I••• L•Other Private Fund$9.9M54Mar 29, 2019
H•• E•••••• A••••••••• L•no longer reportedReal Estate Fund$8.3M73Mar 31, 2016
H•• S• A••••••••• L•no longer reportedReal Estate Fund$6.7M61Mar 30, 2020
H•• H•••••• S•••••• I•• L•Real Estate Fund$6.7M71Mar 31, 2021
H••• 2•••• L•no longer reportedReal Estate Fund$5.8M41Mar 30, 2015
H••• 2••••• F•••• L•no longer reportedReal Estate Fund$5.3M34Mar 30, 2012
H•• I• F••• L•Hedge Fund$5.0M1Oct 23, 2012
H•• L•••••••• P••••• L•no longer reportedReal Estate Fund$5.0M52Feb 13, 2017
H•• A•••• R••••• L•no longer reportedReal Estate Fund$4.6M35Dec 5, 2013
H•• H•••••• R•••• L•Real Estate Fund$4.4M30Mar 30, 2020
H•• N•• O••••••••• L•Real Estate Fund$4.3M42Mar 30, 2020
H•• R•••• C••• L•••• L•Real Estate Fund$4.3M34Mar 30, 2023
H•••••• M•••••• P••••••• • I•Other Private Fund$4.2M74Mar 31, 2018
H•• L•••••• L••• F••• I• L•no longer reportedReal Estate Fund$3.9M36Mar 31, 2016
H•• W••••••••• P•••• L•no longer reportedReal Estate Fund$3.8M53Dec 5, 2013
H•• R•••••• F•••• L•Real Estate Fund$3.5M21Mar 30, 2012
H•• P•••••• 0• F••• L•Real Estate Fund$3.0M93Mar 30, 2012
H•• B•• I•• L•Other Private Fund$2.8M36Mar 30, 2015
H•• O•••• F•••• L•no longer reportedReal Estate Fund$2.5M34Mar 31, 2018
H•• L••••••• F• R•••••• L•Real Estate Fund$2.3M53Mar 31, 2018
H•• C••••• S••••••• L•no longer reportedReal Estate Fund$2.3M32Mar 31, 2016
H•• C••••••• C••••••• L•no longer reportedReal Estate Fund$2.1M36Mar 31, 2016
H•• M•••••••• H•••• L•no longer reportedReal Estate Fund$2.0M19Mar 30, 2012
H••• T••••••• L•no longer reportedReal Estate Fund$1.9M92Mar 25, 2022
H•• A•••••• L•••• L•no longer reportedReal Estate Fund$1.7M27Dec 5, 2013
H•• H•••••••• L•no longer reportedReal Estate Fund$1.5M13Mar 30, 2023
H•• B•••• R••• S••••••• L•no longer reportedReal Estate Fund$1.5M27Mar 31, 2016
H••• 2•••• L•no longer reportedReal Estate Fund$1.3M12Mar 30, 2012
All funds of H••••• F•••••••• S•••••••• L•••
Owners and control persons
Schedule A and B, latest filing
  • C•••••• D••••• D••••• · Director Of Wealth Managementcontrol
    since 05/2009 · owns less than 5%
  • D••••••• S••••• M•••••• · Director Of Financial P•••••••control
    since 12/2013 · owns less than 5%
  • H•••••• R•••••• K•• · Ccocontrol
    since 03/2023 · owns less than 5%
  • H•••••• R••••••• W•••• · Director Of Public Investmentscontrol
    since 04/2013 · owns less than 5%
  • H•••••• J••••• N• · Chairmancontrol
    since 01/1994 · owns less than 5%
  • H•••••• J•••• T• · Managing Directorcontrol
    since 04/2004 · owns less than 5%
  • H•••••• S••••••• J•••• · Director Of Private Investmentscontrol
    since 10/2011 · owns less than 5%
  • P•••• R•••••• J•••• · Chief Compliance Officercontrol
    since 07/2026 · owns less than 5%
  • S•••••• L••• · Director Of Fund Operationscontrol
    since 03/2001 · owns less than 5%
  • D••••••• S••••• M•••••• · Managercontrol
    since 12/2013 · owns F of H•••••• O•• I••••••••• L••
  • H•••••• J••••• N• · Owner/Directorcontrol
    since 04/2004 · owns 75% or more of H••••• F••••••••• I•••
  • H•••••• J•••• T• · T••••••control
    since 04/2004 · owns 75% or more of The T••••• 1991 I••••••••• Trust
  • H•••••• S••••••• J•••• · T••••••control
    since 04/2004 · owns 75% or more of The J•••• 1991 I••••••••• Trust
  • C•••••• D••••• D••••• · Member
    since 12/2020 · owns 75% or more of A••••• A••••••••• L•••
  • S•••••• L••• · T••••••
    since 12/2022 · owns F of L••• S••••• R•••••••• T••••
Entity owners
  • H••••• F••••••••• I••• · General P•••Ner
    direct · owns less than 5%
  • H•••••• O•• I••••••••• L•• · Limited P•••Ner
    direct · owns 5% to 10%
  • T•• J•••• 1••• I••••••••• T••••• · Limited P•••Ner
    direct · owns 25% to 50%
  • T•• J•••• 1••• I••••••••• T••••• S•••••• H•••••• T•••••• · Limited P•••Ner
    direct · owns 25% to 50%
  • T•• T••••• 1••• I••••••••• T••••• J••• H•••••• T•••••• · Limited P•••Ner
    direct · owns 25% to 50%
  • T•• H••••••••• I••••••••• T•••• · Member
    indirect · owns 50% to 75% of H•••••• O•• I••••••••• L••
  • T•• K•••••• H••••••• T•••• · Member
    indirect · owns 50% to 75% of H•••••• O•• I••••••••• L••
  • A••••• A••••••••• L••• · Limited P•••Ner
    direct · owns 10% to 25%
  • F••••••••• W•••••• L• · Limited P•••Ner
    direct · owns 10% to 25%
  • G• L••••••••• L• · Limited P•••Ner
    direct · owns 5% to 10%
  • L••• S••••• P••• · Limited P•••Ner
    direct · owns 10% to 25%
  • L••• S••••• R•••••••• T•••• · Shareholder
    indirect · owns 75% or more of L••• S••••• P•••
Related persons
Schedule D 7.A
  • H•••• I•••
    pooled vehicle sponsorn
  • P•••• C•••• E•••••• L•
    pooled vehicle sponsorn
Office movement
IAPD branch city; joins and departures in 12 months
OfficeAdvisorsJoinedLeftTeams outForming
Dallas, Tx · principal1521
Offices
Schedule D 1.F, the 25 largest
No branch office listed.
ADV anomalies
4 against comparable advisers; where to look, not conclusions
  • control person changedChange between filings · filing Aug 12, 2026
    H•••••• R••••••• W•••• (DIRECTOR OF PUBLIC INVESTMENTS) appeared on Schedule A between the filings of 2024-03-25 and 2026-08-12
    peers: independent wealth managers, $1B to $5B (1,362)
  • control person changedChange between filings · filing Aug 12, 2026
    P•••• R•••••• J•••• (CHIEF COMPLIANCE OFFICER) appeared on Schedule A between the filings of 2024-03-25 and 2026-08-12
    peers: independent wealth managers, $1B to $5B (1,362)
  • control person changedChange between filings · filing Aug 12, 2026
    D••••••• S••••• M•••••• (MANAGER) left Schedule A between the filings of 2024-03-25 and 2026-08-12
    peers: independent wealth managers, $1B to $5B (1,362)
  • control person changedChange between filings · filing Aug 12, 2026
    H•••••• R•••••• K•• (CCO) left Schedule A between the filings of 2024-03-25 and 2026-08-12
    peers: independent wealth managers, $1B to $5B (1,362)
What changed
consecutive filings, newest first
  • Accounts · 1,485 to 1,276
    Mar 31, 2025 to Mar 31, 2026
  • Advisory employees · 19 to 18
    Mar 31, 2025 to Mar 31, 2026
  • Charity clients · unset to 3.0
    Mar 31, 2025 to Mar 31, 2026
  • Corporate clients · unset to 2.0
    Mar 31, 2025 to Mar 31, 2026
  • HNW clients · 306 to 259
    Mar 31, 2025 to Mar 31, 2026
  • Individual clients · 180 to 151
    Mar 31, 2025 to Mar 31, 2026
  • Pooled vehicle clients · 34 to 31
    Mar 31, 2025 to Mar 31, 2026
  • Assets in custody · $605M to $683M
    Mar 31, 2025 to Mar 31, 2026
  • Financial planning clients · 1-10 to 11-25
    Mar 31, 2025 to Mar 31, 2026
  • State-registered IARs · 15 to 14
    Mar 31, 2025 to Mar 31, 2026
  • Private funds · 34 to 31
    Mar 31, 2025 to Mar 31, 2026
  • Discretionary RAUM · $1.4B to $1.4B
    Mar 31, 2025 to Mar 31, 2026
  • HNW RAUM · $1.1B to $1.1B
    Mar 31, 2025 to Mar 31, 2026
  • Individual RAUM · $53.3M to $38.4M
    Mar 31, 2025 to Mar 31, 2026
  • Non-discretionary RAUM · $1.5M to $0
    Mar 31, 2025 to Mar 31, 2026
  • Pooled vehicle RAUM · $205M to $224M
    Mar 31, 2025 to Mar 31, 2026
  • RAUM · $1.4B to $1.4B
    Mar 31, 2025 to Mar 31, 2026
  • Accounts · 1,430 to 1,485
    Dec 5, 2024 to Mar 31, 2025
  • Advisory employees · 18 to 19
    Dec 5, 2024 to Mar 31, 2025
  • HNW clients · 305 to 306
    Dec 5, 2024 to Mar 31, 2025
  • Individual clients · 176 to 180
    Dec 5, 2024 to Mar 31, 2025
  • Pooled vehicle clients · 33 to 34
    Dec 5, 2024 to Mar 31, 2025
  • Assets in custody · $509M to $605M
    Dec 5, 2024 to Mar 31, 2025
  • Employees · 23 to 24
    Dec 5, 2024 to Mar 31, 2025
  • Financial planning clients · 251-500 to 1-10
    Dec 5, 2024 to Mar 31, 2025
  • Private funds · 33 to 34
    Dec 5, 2024 to Mar 31, 2025
  • Discretionary RAUM · $1.3B to $1.4B
    Dec 5, 2024 to Mar 31, 2025
  • HNW RAUM · $1.0B to $1.1B
    Dec 5, 2024 to Mar 31, 2025
  • Individual RAUM · $35.4M to $53.3M
    Dec 5, 2024 to Mar 31, 2025
  • Non-discretionary RAUM · $6.3M to $1.5M
    Dec 5, 2024 to Mar 31, 2025
  • Pooled vehicle RAUM · $205M to $205M
    Dec 5, 2024 to Mar 31, 2025
  • RAUM · $1.3B to $1.4B
    Dec 5, 2024 to Mar 31, 2025
  • Related insurance company · false to true
    Dec 5, 2024 to Mar 31, 2025
  • Accounts · 1,282 to 1,430
    Mar 30, 2023 to Mar 25, 2024
  • Advisory employees · 16 to 18
    Mar 30, 2023 to Mar 25, 2024
  • Charity clients · 5.0 to unset
    Mar 30, 2023 to Mar 25, 2024
  • HNW clients · 294 to 305
    Mar 30, 2023 to Mar 25, 2024
  • Individual clients · 165 to 176
    Mar 30, 2023 to Mar 25, 2024
  • Pooled vehicle clients · 41 to 33
    Mar 30, 2023 to Mar 25, 2024
  • Assets in custody · $189,854 to $509M
    Mar 30, 2023 to Mar 25, 2024
Signals
8 dated events
  • R••• A••••• M••••• left H••••• F•••••••• S•••••••• L••• for Q••••••• W••••• P•••••••• L•• (registered 2026-08-11)
    Aug 28, 2026 · Advisor changed firm · fact
  • S•••• M•••••• D•••••• left H••••• F•••••••• S•••••••• L••• for S•••••• W••••• A••••••• (registered 2025-01-09)
    Oct 24, 2024 · Advisor changed firm · fact
  • H••••• F•••••••• S•••••••• L••• reported RAUM $1.3B, up 30% from $988.5M (2023-03-30 to 2024-03-25)
    Mar 25, 2024 · RAUM change · derived
  • Kay Rachel Hodges (Cco) appeared on Schedule A of H••••• F•••••••• S•••••••• L•••
    Mar 25, 2024 · Control person joined · fact
  • J•••• R•••••• T••••• left H••••• F•••••••• S•••••••• L••• for I•• W••••• (registered 2023-01-18)
    Nov 1, 2022 · Advisor changed firm · fact
  • C•••••• M••••• T••••• left H••••• F•••••••• S•••••••• L••• for S••• W••••• A••••••• (registered 2022-05-03)
    Apr 8, 2022 · Advisor changed firm · fact
  • Eric Jeffrey R••••• (Chief Compliance Officer, Chief Operating Officer) no longer on Schedule A of H••••• F•••••••• S•••••••• L••• (listed 2021-05-11, absent 2021-12-06)
    Dec 6, 2021 · Control person left · inference
  • H••••• F•••••••• S•••••••• L••• reported RAUM $665.6M, down 29% from $939.0M (2017-09-29 to 2018-03-31)
    Mar 31, 2018 · RAUM change · derived
Across DFX
shared identifiers only, never a name match
No identifier-backed link to the venture, private equity, family office or sponsor graphs.
How to reach
public business contact points only, each with its source
Firm profile
linkedin.com/company/howard-financial-servicesreportedpublic record, Form ADV, Sep 18, 2026
Website
howardfs.comreportedpublic record, Form ADV, Sep 18, 2026
Principal office phone
214-346-0785reportedpublic record, Form ADV, Aug 12, 2026
Provenance
Form ADV
SEC filing data 2011 to 2024 and the monthly roster 2025 onreportedadviserinfo.sec.gov
Advisors
IAPD individual compilation feed, dailyreportedadviserinfo.sec.gov
Class
Independent wealth managerderiveda rule over Items 5.D and 7.A
RAUM per advisor
$93.5Mderivedfirm RAUM over the IAPD count; not a book size
Loaded
Sep 14, 2026
Across the graphs

H••••• F•••••••• S•••••••• L••• is the same institution as 1 record in Real Estate Funds.

Real Estate Funds1

Which record it is in each graph, what it is called there, and what the two were joined on. The Data Factory holds all nine graphs and the identity layer between them.

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