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

M••••••• I••••••••• N•••••• I•••

Broker-dealer affiliated wealth managerDallas, TexasCRD 17587SEC 801-60812websiteIAPD
Latest filing Aug 11, 2026
First filing on the tape Dec 22, 2011 · 98 filings
SEC status approved since Jan 18, 2002
RAUM
$1.6B
reported, Item 5.F
Discretionary
63%
of RAUM
Private clients
97%
$1.6B individuals and HNW
Advisors
125
registered through the firm on IAPD
RAUM per advisor
$12.9M
derived; firm RAUM over IAPD count
Employees
97
97 advisory (5.B.1)
Offices
124
beyond the principal office
Private funds
0
reported on Schedule D
History
98 filings and snapshots on the tape
RAUM$1.6B as of Aug 11, 2026
Sep 28, 2012$184M then
HNW client RAUM$855M as of Aug 11, 2026
Mar 29, 2018$29.6M then
State-registered IARs (5.B.3)97 as of Aug 11, 2026
Sep 28, 20120 then
Employees (5.A)97 as of Aug 11, 2026
Sep 17, 2013139 then
Private funds: no history
RAUM +20% over the last fiscal year+25% a year over threeIARs 98 to 97offices 93 to 124
Practice profile
derived from the filing of Aug 11, 2026; every figure names its basis
Archetypes, each a printed rule
  • Broker-dealer affiliated · Item 7.A.1 (broker-dealer affiliate) and at least 50 registered representatives (Item 5.B.2), or the adviser is itself a broker-dealer (6.A.1)
  • HNW wealth manager · private-client share of RAUM at least 50 percent and HNW share of private-client RAUM 50 to 90 percent
  • Wrap program sponsor · sponsors a wrap fee program (5.I) with at least $100M of wrap assets
RAUM per advisor
$12.9MderivedRAUM over IAPD advisors; not a book size
Clients per advisor
23derivedindividual and HNW clients (5.D) over advisors
Average HNW client
$2.1MderivedHNW RAUM over HNW clients
Average account
$340,918derivedRAUM over accounts (5.F.2.f)
Discretionary
63%derivedof RAUM
Institutional
1.2%derivedpensions, charities, corporations, government, insurance, banks, other advisers
Employees per advisor
0.8derivedItem 5.A over advisors
Advisors per office
1.0derived125 offices incl. principal (1.F.5)
RAUM growth, one year
+20%derivedbetween the last two annual amendments
Advisor growth, one year
-1.0%derivedItem 5.B.3 between annual amendments
Client growth, one year
+49%derived
Compensation
percentage of assets, hourly, fixed fees, otherreportedItem 5.E
Advisory activities
financial planning, portfolio management for individuals, selection of other advisers, publications, educational seminarsreportedItem 5.G
Wrap fee program
$219MreportedItem 5.I
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
  • is a broker-dealer (6.A.1)
  • is an insurance broker or agent (6.A.6)
  • 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)
  • a related person has custody of client cash (9.B.1.a)
  • a related person has custody of client securities (9.B.1.b)
  • a related person acts as qualified custodian (9.D.2)
Where the RAUM sits
Form ADV Item 5.D, latest filing
  • High-net-worth individuals$855M53%
  • Individuals$703M44%
  • Corporations and businesses$32.6M2.0%
  • Pension and profit-sharing plans$11.1M0.7%
  • Charitable organizations$7.7M0.5%
Individual clients
2,409reported
HNW clients
408reported
Pension plan clients
21reported
Charitable clients
8reported
Accounts
4,721reported
Financial planning clients
26-50reported
Wrap fee programs
$219M sponsored, $0 managedreported
Custody of client assets
noreported
Compensation
% of AUM, fixed, hourlyreported
Class basis
private_client_share=0.97 fund_share=0.0 institutional_share=0.01 related_bd=true related_bank=true bd_reps=97.0derived
Advisors registered through the firm
121 on IAPD today, longest tenure first
NameBranchHere sinceIn industryPrior firms
C•••••• A••••• B••••Lagrange, TxOct 25, 199645 y0
W••••• V•••••Arlington, TxNov 16, 200129 y0
W••••• V•••••Certified Financial PlannerArlington, TxNov 19, 200157 y0
T••••• H••• T•••••••Certified Financial PlannerArlington, TxJun 11, 200237 y0
J•••• R••••• A•••••Edmond, Ok May 13, 200328 y1
F•••• L•••• L••••••Certified Financial Planner, Chartered Financial AnalystOxnard, CaJun 16, 200432 y2
A••••• S•••••• J••••••Santa Monica, CaFeb 2, 200525 y2
G••••• S•••••• S•••••Arlington, TxSep 9, 200531 y2
G•••••• B• H••••••D•••••, TxOct 20, 200533 y1
G••• M•••••• R••••D•••••, TxOct 26, 200538 y1
D•••• H•••••• A••••••Colleyville, TxJan 5, 200625 y0
M•••••• J•• R•••••D•••••, TxFeb 27, 200627 y2
E•••• E••••• R•••••D•••••, Tx Jun 12, 200847 y2
J••• J••••• P••••••••D•••••, Tx Jun 23, 200821 y2
B•••• T•••••• M•••••Certified Financial PlannerBig Spring, Tx Jun 27, 200824 y3
M•••• J••••• M••••••••Certified Financial PlannerD•••••, Tx Jul 31, 200832 y0
S••••• E••••• E•••••D•••••, Tx Sep 3, 200821 y2
J•••• L•• M•••••••••Certified Financial PlannerD•••••, Tx Jan 22, 200922 y2
K••• J•• W•••••••••Certified Financial PlannerSioux City, Ia Jan 23, 200924 y2
A•••••• R••• M••••••D•••••, Tx Feb 19, 200928 y2
C•••• D•••• G••••D•••••, TxApr 6, 200943 y2
M•••••• K•••• L•••••••••D•••••, TxMay 13, 200932 y3
L••••• D••••• J••••••D•••••, TxMay 21, 200943 y1
S••••• L•• P•••••D•••••, Tx May 27, 200943 y2
B•••• R•• J••••••Amarillo, Tx Jul 1, 200926 y1
W•••••• B•••• D•••••Paragould, ArDec 23, 200931 y2
K••• J••• V••••D•••••, Tx Sep 14, 201023 y4
D••••• G••• B••••Katy, Tx Nov 1, 201046 y2
J•••• E••••• S•••••Certified Financial PlannerAmarillo, Tx Sep 2, 201118 y1
T•• S•••••••• T•••••Certified Financial PlannerD•••••, TxSep 28, 201140 y2
D•••••• C••••••• D•••••D•••••, TxOct 7, 201119 y1
J••• M•••••• D•••Fulshear, Tx Oct 25, 201141 y2
K•••• K••••• M••••••D•••••, TxJan 3, 201218 y0
J•••• G••••••• K••••••Certified Financial PlannerD•••••, Tx Jan 11, 201228 y0
J•••• E•••• B•••Delray Beach, FlFeb 3, 201230 y2
J••• D•••• G••••••••D•••••, Tx Apr 11, 201228 y1
K•••• A••• H•••••••D•••••, Tx Apr 11, 201230 y2
C••• S•••• C•••D•••••, Tx May 18, 201228 y3
A•••• L•• S•••••••••D•••••, Tx May 24, 201234 y2
M••••• P••• S•••••••••Santa Rosa, Ca Jul 16, 201234 y3
All 121 advisors at M••••••• I••••••••• N•••••• I•••
Advisor movement
9 left, 8 joined in 12 months
net -1 in 12 months0 left in 90 days2 joined in 90 daysdeparture rate 7.2% of current headcount36 left over 36 months
Left, latest
Joined, latest
Private funds
No private fund reported.
Owners and control persons
Schedule A and B, latest filing
  • A••••••••• L•••• B•••••• · Board Directorcontrol
    since 08/2017 · owns less than 5%
  • C•••• S•••• A••••• · Chief Compliance Officercontrol
    since 01/2022 · owns less than 5%
  • L••••••••• L•••• · Board Directorcontrol
    since 10/2013 · owns less than 5%
  • M••••••••• S•••• E••••• · Managing Director - Head Of M••••••• I••••••••• N•••••• I•••control
    since 07/2023 · owns less than 5%
  • M•••••••• D•••• K••• · Board Directorcontrol
    since 08/2017 · owns less than 5%
  • M••••••••• J••• R•••••• · Presidentcontrol
    since 01/2020 · owns less than 5%
  • W•••••• M••••• B•••••• · Ceocontrol
    since 04/2019 · owns less than 5%
  • W••••••••• B•••• L••• · G•••Ral Counsel/Secretarycontrol
    since 03/2016 · owns less than 5%
  • E•••• J••••• M•••••• · Board Director
    since 10/2015 · owns less than 5%
  • T•••••• W•••••• B•••• · Municipal Principal
    since 11/2004 · owns less than 5%
Entity owners
  • H•••••• S••••••••• H•••••••• · Parent
    direct · owns 75% or more
  • H•••••• S••••••••• H•••••••• L•• · Parent
    direct · owns 75% or more
  • H•••••• H••••••• I••• · Parent
    indirect · owns 75% or more of H•••••• S••••••••• H•••••••• L•• · public reporting company
Related persons
Schedule D 7.A
Advisers that list M••••••• I••••••••• N•••••• I••• as a related person
Office movement
IAPD branch city; joins and departures in 12 months
OfficeAdvisorsJoinedLeftTeams outForming
D•••••, Tx · principal102154
Sioux City, Ia610
Colleyville, Tx500
Arlington, Tx400
Mansf••••, Tx300
Fort Worth, Tx310
Amarillo, Tx300
La Mesa, Ca200
Albuquerque, Nm220
A•••••, Tx200
Bentonville, Ar200
Eagle, Id210
Houston, Tx210
J•••••• City, Tx210
Katy, Tx200
T••••, Tx200
S••••Sdale, Az210
Storm Lake, Ia210
Corydon, In001
Oklahoma City, Ok0021
Offices
Schedule D 1.F, the 25 largest
  • D•••••, TX18 employees
  • D•••••, TX8 employees
  • Sioux City, IA5 employees
  • D•••••, TX4 employees
  • San Antonio, TX3 employees
  • Mansf••••, TX2 employees
  • , 2 employees
  • T••••, TX2 employees
  • Worthington, MN2 employees
  • Arlington, TX2 employees
  • , 2 employees
  • , 2 employees
  • Akron, OH2 employees
  • , 2 employees
  • A•••••, TX2 employees
  • Oklahoma City, OK2 employees
  • N•••••, OK2 employees
  • , 2 employees
  • Fort S••••, AR2 employees
  • , 1 employees
  • Big Spring, TX1 employees
  • Bullard, TX1 employees
  • Amarillo, TX1 employees
  • , 1 employees
  • , 1 employees
ADV anomalies
3 against comparable advisers; where to look, not conclusions
  • control person changedChange between filings · filing Aug 11, 2026
    M••••••••• J••• R•••••• (BOARD DIRECTOR) left Schedule A between the filings of 2024-03-28 and 2026-08-11
    peers: affiliated wealth managers, $1B to $5B (56)
  • account count surgeChange between filings · filing Mar 30, 2026
    accounts (Item 5.F.2.f) moved from 2,850.0 to 4,721.0 (+66.0%) between the annual amendments of 2025-03-26 and 2026-03-30; the peer median change was +10.0% (52 comparable advisers, 98.0th percentile of changes)
    peers: affiliated wealth managers, $1B to $5B (52) · 98% percentile
  • HNW share shiftChange between filings · filing Mar 30, 2026
    HNW share of RAUM moved from 35.0% to 53.0% between the annual amendments of 2025-03-26 and 2026-03-30
    peers: affiliated wealth managers, $1B to $5B (56)
What changed
consecutive filings, newest first
  • Accounts · 2,850 to 4,721
    Aug 29, 2025 to Mar 30, 2026
  • Advisory employees · 98 to 97
    Aug 29, 2025 to Mar 30, 2026
  • BD registered reps · 98 to 97
    Aug 29, 2025 to Mar 30, 2026
  • Charity clients · 3 to 8
    Aug 29, 2025 to Mar 30, 2026
  • Corporate clients · 28 to 33
    Aug 29, 2025 to Mar 30, 2026
  • HNW clients · 679 to 408
    Aug 29, 2025 to Mar 30, 2026
  • Individual clients · 1,206 to 2,409
    Aug 29, 2025 to Mar 30, 2026
  • Pension plan clients · unset to 21.0
    Aug 29, 2025 to Mar 30, 2026
  • Employees · 98 to 97
    Aug 29, 2025 to Mar 30, 2026
  • Insurance-licensed employees · 3 to 2
    Aug 29, 2025 to Mar 30, 2026
  • State-registered IARs · 98 to 97
    Aug 29, 2025 to Mar 30, 2026
  • Other offices · 93 to 124
    Aug 29, 2025 to Mar 30, 2026
  • Discretionary RAUM · $765M to $1.0B
    Aug 29, 2025 to Mar 30, 2026
  • HNW RAUM · $464M to $855M
    Aug 29, 2025 to Mar 30, 2026
  • Individual RAUM · $826M to $703M
    Aug 29, 2025 to Mar 30, 2026
  • Non-discretionary RAUM · $572M to $603M
    Aug 29, 2025 to Mar 30, 2026
  • Pension RAUM · unset to 11144464.0
    Aug 29, 2025 to Mar 30, 2026
  • RAUM · $1.3B to $1.6B
    Aug 29, 2025 to Mar 30, 2026
  • Wrap assets (manager) · $164M to $0
    Aug 29, 2025 to Mar 30, 2026
  • Wrap assets (sponsor) · $0 to $219M
    Aug 29, 2025 to Mar 30, 2026
  • Accounts · 3,528 to 2,850
    Dec 19, 2024 to Mar 26, 2025
  • Advisory employees · 139 to 98
    Dec 19, 2024 to Mar 26, 2025
  • BD registered reps · 139 to 98
    Dec 19, 2024 to Mar 26, 2025
  • Charity clients · 5 to 3
    Dec 19, 2024 to Mar 26, 2025
  • Corporate clients · 10 to 28
    Dec 19, 2024 to Mar 26, 2025
  • HNW clients · 1,073 to 679
    Dec 19, 2024 to Mar 26, 2025
  • Individual clients · 1,698 to 1,206
    Dec 19, 2024 to Mar 26, 2025
  • Pension plan clients · 1.0 to unset
    Dec 19, 2024 to Mar 26, 2025
  • Employees · 139 to 98
    Dec 19, 2024 to Mar 26, 2025
  • Financial planning clients · 26-50 to 26-50
    Dec 19, 2024 to Mar 26, 2025
  • State-registered IARs · 139 to 98
    Dec 19, 2024 to Mar 26, 2025
  • Discretionary RAUM · $521M to $765M
    Dec 19, 2024 to Mar 26, 2025
  • HNW RAUM · $562M to $464M
    Dec 19, 2024 to Mar 26, 2025
  • Individual RAUM · $489M to $826M
    Dec 19, 2024 to Mar 26, 2025
  • Non-discretionary RAUM · $596M to $572M
    Dec 19, 2024 to Mar 26, 2025
  • Pension RAUM · 63774611.0 to unset
    Dec 19, 2024 to Mar 26, 2025
  • RAUM · $1.1B to $1.3B
    Dec 19, 2024 to Mar 26, 2025
  • Accounts · 3,028 to 3,528
    Jan 4, 2024 to Mar 28, 2024
  • Advisory employees · 140 to 139
    Jan 4, 2024 to Mar 28, 2024
  • BD registered reps · 140 to 139
    Jan 4, 2024 to Mar 28, 2024
Signals
60 dated events
  • J••• A•••••• P••••• left M••••••• I••••••••• N•••••• I••• for L•• F•••••••• L•• (registered 2026-06-01)
    Jun 1, 2026 · a•••••• firm change · fact
  • D••••• L• W•••• left M••••••• I••••••••• N•••••• I••• for A••••••••• F•••••••• S•••••••• L•• (registered 2026-06-03)
    Jun 1, 2026 · a•••••• firm change · fact
  • S•••••• T•••• M••••••• left M••••••• I••••••••• N•••••• I••• for R•• F•••••••• A••••••• I•• (registered 2026-04-15)
    Apr 22, 2026 · a•••••• firm change · fact
  • H••••• S••••••• left M••••••• I••••••••• N•••••• I••• for M•• C•••••• M••••••••• L•• (registered 2026-03-26)
    Mar 30, 2026 · a•••••• firm change · fact
  • M••••••• I••••••••• N•••••• I••• reported 124 offices beyond its principal office, up from 93 (2025-08-29 to 2026-03-30)
    Mar 30, 2026 · Office count change · derived
  • J•• S•••••• M••••• left M••••••• I••••••••• N•••••• I••• for L•• F•••••••• L•• (registered 2026-03-08)
    Mar 4, 2026 · a•••••• firm change · fact
  • T••••• M•••• left M••••••• I••••••••• N•••••• I••• for S•••••• P••••••• I••••••••• A•••••••• L•• (registered 2026-02-18)
    Feb 17, 2026 · a•••••• firm change · fact
  • T•••••• W••••• B•••••• left M••••••• I••••••••• N•••••• I••• for I•• A•••••••• L•• (registered 2025-12-10)
    Dec 8, 2025 · a•••••• firm change · fact
  • J•••••• B•••• D•••••• left M••••••• I••••••••• N•••••• I••• for M•• I•••••••• S•••••••• L•• (registered 2025-10-20)
    Oct 6, 2025 · a•••••• firm change · fact
  • 2 advisors left M••••••• I••••••••• N•••••• I••• (Oklahoma City, OK) for M•• I•••••••• S•••••••• L•• on the same day
    Oct 6, 2025 · Team lift-out · derived
  • J••••• A••• M••••• left M••••••• I••••••••• N•••••• I••• for M•• I•••••••• S•••••••• L•• (registered 2025-10-15)
    Oct 6, 2025 · a•••••• firm change · fact
  • E••••• R•••••• S•••••• left M••••••• I••••••••• N•••••• I••• for L•• F•••••••• L•• (registered 2025-09-15)
    Sep 15, 2025 · a•••••• firm change · fact
  • 2 advisors left M••••••• I••••••••• N•••••• I••• (San Antonio, TX) for R•••••• J•••• F•••••••• S••••••• A•••••••• I•• on the same day
    Sep 8, 2025 · Team lift-out · derived
  • B•••• G••••••• left M••••••• I••••••••• N•••••• I••• for R•••••• J•••• F•••••••• S••••••• A•••••••• I•• (registered 2025-09-08)
    Sep 8, 2025 · a•••••• firm change · fact
  • D••••• E••••• R•••••• left M••••••• I••••••••• N•••••• I••• for R•••••• J•••• F•••••••• S••••••• A•••••••• I•• (registered 2025-09-09)
    Sep 8, 2025 · a•••••• firm change · fact
  • 3 advisors left M••••••• I••••••••• N•••••• I••• (Dallas, TX) for L•• F•••••••• L•• within 11 days
    Sep 4, 2025 · Team lift-out · derived
  • M•••••• J••••• K••• left M••••••• I••••••••• N•••••• I••• for L•• F•••••••• L•• (registered 2025-09-05)
    Sep 4, 2025 · a•••••• firm change · fact
  • K••••••••• B•••• F•••• left M••••••• I••••••••• N•••••• I••• for L•• F•••••••• L•• (registered 2025-09-05)
    Sep 4, 2025 · a•••••• firm change · fact
  • W•••••• W••••••• N••••• left M••••••• I••••••••• N•••••• I••• for P••• A••••• S••••••••• L•• (registered 2025-11-05)
    May 15, 2025 · a•••••• firm change · fact
  • L••• G••• W••••• left M••••••• I••••••••• N•••••• I••• for C•••••••• I••••••••• R••••••• A•••••••• I••• (registered 2025-05-14)
    May 13, 2025 · a•••••• firm change · fact
  • K••••• R•••••• left M••••••• I••••••••• N•••••• I••• for C•••••• S••••• • C••• I••• (registered 2025-05-05)
    Apr 29, 2025 · a•••••• firm change · fact
  • M••••••• I••••••••• N•••••• I••• reported 98 state-registered advisory representatives, down from 139 (2024-12-19 to 2025-03-26)
    Mar 26, 2025 · ria a•••••• headcount change · derived
  • 2 advisors left L•• F•••••••• L•• (San Diego, CA) for M••••••• I••••••••• N•••••• I••• within 13 days
    Feb 11, 2025 · Team lift-out · derived
  • G•••••• D•• S••••••• left M••••••• I••••••••• N•••••• I••• for L•• F•••••••• L•• (registered 2024-12-11)
    Dec 17, 2024 · a•••••• firm change · fact
  • S••••• H••••• left M••••••• I••••••••• N•••••• I••• for L•••• F••• A••••••• S••••••• (registered 2024-11-11)
    Oct 15, 2024 · a•••••• firm change · fact
  • J••••• M••••••• left M••••••• I••••••••• N•••••• I••• for J••• M••••• S••••••••• L•• (registered 2024-10-01)
    Sep 26, 2024 · a•••••• firm change · fact
  • K••••• T••• left M••••••• I••••••••• N•••••• I••• for G•••••••• F•••••••• A•••••••• L•• (registered 2024-11-26)
    Jul 24, 2024 · a•••••• firm change · fact
  • M•••• D• J••••••• left M••••••• I••••••••• N•••••• I••• for U•• F•••••••• S••••••• I••• (registered 2024-07-09)
    Jun 18, 2024 · a•••••• firm change · fact
  • 2 advisors left M••••••• I••••••••• N•••••• I••• (Worthington, MN) for L•• F•••••••• L•• on the same day
    Jun 7, 2024 · Team lift-out · derived
  • M•••••• J••• W••• left M••••••• I••••••••• N•••••• I••• for L•• F•••••••• L•• (registered 2024-06-06)
    Jun 7, 2024 · a•••••• firm change · fact
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/hilltop-securities-inc-reportedpublic record, Form ADV, Sep 18, 2026
Website
f•••••••.comreportedpublic record, Form ADV, Sep 18, 2026
Principal office phone
214-859-1800reportedpublic record, Form ADV, Aug 11, 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
Broker-dealer affiliated wealth managerderiveda rule over Items 5.D and 7.A
RAUM per advisor
$12.9Mderivedfirm RAUM over the IAPD count; not a book size
Loaded
Sep 14, 2026