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.

SEC-registered adviser

Victory Financial

Independent wealth managerAustin, TexasCRD 324943SEC 801-127385websiteIAPD
Legal name Victory Financial Group LLC
Latest filing Jul 9, 2026
First filing on the tape Jan 26, 2023 · 20 filings
SEC status approved since Feb 24, 2023
RAUM
$1.3B
reported, Item 5.F
Discretionary
100%
of RAUM
Private clients
99%
$1.3B individuals and HNW
Advisors
54
registered through the firm on IAPD
RAUM per advisor
$24.8M
derived; firm RAUM over IAPD count
Employees
47
47 advisory (5.B.1)
Offices
32
beyond the principal office
Private funds
0
reported on Schedule D
History
20 filings and snapshots on the tape
RAUM$1.3B as of Jul 9, 2026
Mar 22, 2024$289M then
HNW client RAUM$738M as of Jul 9, 2026
Mar 22, 2024$132M then
State-registered IARs (5.B.3)47 as of Jul 9, 2026
Mar 22, 202412 then
Employees (5.A)47 as of Jul 9, 2026
Mar 22, 202412 then
Private funds: no history
RAUM +95% over the last fiscal yearIARs 34 to 47offices 24 to 32
Practice profile
derived from the filing of Jul 9, 2026; every figure names its basis
Archetypes, each a printed rule
  • HNW wealth manager · private-client share of RAUM at least 50 percent and HNW share of private-client RAUM 50 to 90 percent
  • Multi-office growth platform · an independent wealth manager (not a wirehouse, national broker-dealer RIA or broker-dealer affiliated firm) with at least five offices, at least 50 advisors, and RAUM up at least 20 percent over the last annual amendment
RAUM per advisor
$24.8MderivedRAUM over IAPD advisors; not a book size
Clients per advisor
54derivedindividual and HNW clients (5.D) over advisors
Average HNW client
$2.0MderivedHNW RAUM over HNW clients
Average account
$196,551derivedRAUM over accounts (5.F.2.f)
Discretionary
100%derivedof RAUM
Institutional
0.3%derivedpensions, charities, corporations, government, insurance, banks, other advisers
Employees per advisor
0.9derivedItem 5.A over advisors
Advisors per office
1.6derived33 offices incl. principal (1.F.5)
RAUM growth, one year
+95%derivedbetween the last two annual amendments
Advisor growth, one year
+38%derivedItem 5.B.3 between annual amendments
Client growth, one year
+53%derived
Compensation
percentage of assets, fixed feesreportedItem 5.E
Advisory activities
financial planning, portfolio management for individuals, portfolio management for businesses and institutions, selection of other advisersreportedItem 5.G
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)
  • marketing includes testimonials (5.L.1.c)
Where the RAUM sits
Form ADV Item 5.D, latest filing
  • High-net-worth individuals$738M55%
  • Individuals$581M43%
  • Corporations and businesses$13.8M1.0%
  • Charitable organizations$4.4M0.3%
Individual clients
2,577reported
HNW clients
360reported
Pension plan clients
0reported
Charitable clients
39reported
Accounts
6,805reported
Financial planning clients
0reported
Wrap fee programs
noreported
Custody of client assets
noreported
Compensation
% of AUM, fixedreported
Class basis
private_client_share=0.99 fund_share=0.0 institutional_share=0.0 related_bd=false related_bank=false bd_reps=18.0derived
Advisors registered through the firm
54 on IAPD today, longest tenure first
NameBranchHere sinceIn industryPrior firms
Jeffrey Wayne DavidsonAustin, TxMar 9, 202324 y2
William NicholsAustin, Tx Apr 21, 202313 y2
Christopher Ronald WellsCertified Financial PlannerLiberty Hill, Tx Apr 25, 202323 y2
Paul Michael SchappertAustin, TxMay 4, 202316 y1
Kyle WardlawAustin, TxMay 18, 202317 y3
John Andrew William SzugyiAustin, TxAug 8, 202310 y1
Connor James GreenbergAustin, TxAug 17, 202313 y1
Peter Merrill WarrenAustin, TxAug 17, 202316 y1
Andrew Philip WarrenAustin, TxAug 17, 202322 y1
Zachary Bruce TreuAustin, Tx Aug 17, 202313 y1
Daniel Charles PaschkeSouthlake, Tx Aug 23, 202311 y1
Doyle Rodney TracerSouthlake, Tx Aug 23, 202316 y1
Robert Paul BarreAustin, TxFeb 21, 202411 y1
Phillip John FloresAustin, TxFeb 21, 202412 y1
Colton Trent LarueCertified Financial PlannerAustin, TxApr 11, 202414 y3
Dillon Wesley FarrellProsper, Tx Apr 12, 202413 y1
Dalyn Adonis LoveAustin, Tx Apr 12, 202410 y0
Jeffrey Lewis SadinoHonolulu, Hi Apr 26, 202414 y1
Kenneth ShotsbergerPark Ridge, Il Jun 2, 202413 y1
Ryan Michael BrownAustin, TxJun 11, 202411 y0
Anita Tierra NiefeldtCertified Financial PlannerAustin, Tx Sep 4, 202419 y3
Andrew James CremeCertified Financial PlannerAustin, TxOct 1, 202411 y1
Christopher M. KilmerAustin, TxOct 1, 202415 y2
Cody W StansellCertified Financial PlannerCoppell, Tx Oct 8, 202410 y1
Nathaniel Todd DavisAustin, Tx Oct 10, 202412 y1
Reid Joseph LimegroverAustin, TxOct 28, 202410 y1
Jeremy TungAustin, TxOct 28, 202410 y1
Benedict Heeboem LeeCertified Financial PlannerAustin, TxOct 28, 202412 y1
Ryan Christopher WellsAustin, Tx Dec 18, 202417 y1
Ryan Charles OujeskyAustin, Tx Dec 18, 202410 y1
Brian Christopher EckhoffAustin, Tx Dec 18, 202414 y1
Stephen Randall JohnsonHouston, Tx Dec 19, 202410 y1
Justin Michael SmithAustin, TxJan 8, 202510 y1
Fernando PerezAustin, TxJan 8, 202511 y2
Thomas Hilton IveyHouston, Tx Mar 12, 202512 y0
Charlotte Ann DorandHouston, Tx Jul 10, 202522 y1
Cade Dillon McdonaldAustin, TxSep 4, 202511 y1
Todd Marshall DickinsonAustin, TxSep 18, 202531 y3
William Thomas StilesChartered Financial AnalystAustin, Tx Sep 23, 202512 y1
Adam Joseph HartzArnold, Mo Sep 23, 202517 y1
All 54 advisors at Victory Financial
Advisor movement
1 left, 14 joined in 12 months
net +13 in 12 months0 left in 90 days5 joined in 90 daysdeparture rate 1.9% of current headcount2 left over 36 months
Left, latest
Joined, latest
Every departureEvery arrival
Teams: two or more advisors moving together within fourteen days, from one state
    Teams outTeams in
    Private funds
    No private fund reported.
    Owners and control persons
    Schedule A and B, latest filing
    • Wayne Jeffrey Davidson · Member, Founder And Chairmancontrol
      since 01/2023 · owns 75% or more
    • Newt Kyle Wardlaw · Chief Compliance Officer And Presdientcontrol
      since 05/2023 · owns less than 5%
    Related persons
    Schedule D 7.A
    • Victory Insurance Services, LLC
      real estatey
    Office movement
    IAPD branch city; joins and departures in 12 months
    OfficeAdvisorsJoinedLeftTeams outForming
    Austin, Tx · principal54180
    Houston, Tx611
    Dallas, Tx320
    Peoria, Il330
    Plano, Tx210
    Southlake, Tx200
    Offices
    Schedule D 1.F, the 25 largest
    • Southlake, TX2 employees
    • Park Ridge, IL1 employees
    • , 1 employees
    ADV anomalies
    4 against comparable advisers; where to look, not conclusions
    • growth on all axesCombination · filing Mar 30, 2026
      RAUM, offices and advisors all grew 25 percent or more in one year: a platform in expansion or an acquisition. RAUM $687,641,583 to $1,337,530,512, advisors 34 to 47, private clients 1916 to 2937, offices 24 to 31 (2025-02-27 to 2026-03-30)
      peers: independent wealth managers, $1B to $5B (1,360)
    • account count surgeChange between filings · filing Mar 30, 2026
      accounts (Item 5.F.2.f) moved from 4,210.0 to 6,805.0 (+62.0%) between the annual amendments of 2025-02-27 and 2026-03-30; the peer median change was +6.0% (1206 comparable advisers, 94.0th percentile of changes)
      peers: independent wealth managers, $1B to $5B (1,206) · 94% percentile
    • client count surgeChange between filings · filing Mar 30, 2026
      individual and HNW clients (Item 5.D) moved from 1,916.0 to 2,937.0 (+53.0%) between the annual amendments of 2025-02-27 and 2026-03-30; the peer median change was +5.0% (1132 comparable advisers, 96.0th percentile of changes)
      peers: independent wealth managers, $1B to $5B (1,132) · 96% percentile
    • RAUM up 50 %Change between filings · filing Mar 30, 2026
      RAUM (Item 5.F) moved from $687,641,583 to $1,337,530,512 (+95.0%) between the annual amendments of 2025-02-27 and 2026-03-30; the peer median change was +17.0% (1297 comparable advisers, 97.0th percentile of changes)
      peers: independent wealth managers, $1B to $5B (1,297) · 97% percentile
    How anomalies are measured
    What changed
    consecutive filings, newest first
    • Other offices · 31 to 32
      Mar 30, 2026 to Jun 10, 2026
    • Accounts · 4,210 to 6,805
      Feb 23, 2026 to Mar 30, 2026
    • Advisory employees · 34 to 47
      Feb 23, 2026 to Mar 30, 2026
    • BD registered reps · 20 to 18
      Feb 23, 2026 to Mar 30, 2026
    • Charity clients · 11 to 39
      Feb 23, 2026 to Mar 30, 2026
    • Corporate clients · 10 to 27
      Feb 23, 2026 to Mar 30, 2026
    • HNW clients · 207 to 360
      Feb 23, 2026 to Mar 30, 2026
    • Individual clients · 1,709 to 2,577
      Feb 23, 2026 to Mar 30, 2026
    • Employees · 39 to 47
      Feb 23, 2026 to Mar 30, 2026
    • State-registered IARs · 34 to 47
      Feb 23, 2026 to Mar 30, 2026
    • Other offices · 25 to 31
      Feb 23, 2026 to Mar 30, 2026
    • Discretionary RAUM · $688M to $1.3B
      Feb 23, 2026 to Mar 30, 2026
    • HNW RAUM · $308M to $738M
      Feb 23, 2026 to Mar 30, 2026
    • Individual RAUM · $373M to $581M
      Feb 23, 2026 to Mar 30, 2026
    • RAUM · $688M to $1.3B
      Feb 23, 2026 to Mar 30, 2026
    • Other offices · 24 to 25
      Nov 3, 2025 to Dec 18, 2025
    • Financial planning clients · 0 to 0
      Feb 27, 2025 to Nov 3, 2025
    • Accounts · 1,521 to 4,210
      Nov 19, 2024 to Jan 30, 2025
    • Advisory employees · 12 to 34
      Nov 19, 2024 to Jan 30, 2025
    • BD registered reps · 9 to 20
      Nov 19, 2024 to Jan 30, 2025
    • Charity clients · 3 to 11
      Nov 19, 2024 to Jan 30, 2025
    • Corporate clients · 4 to 10
      Nov 19, 2024 to Jan 30, 2025
    • HNW clients · 71 to 207
      Nov 19, 2024 to Jan 30, 2025
    • Individual clients · 715 to 1,709
      Nov 19, 2024 to Jan 30, 2025
    • Employees · 12 to 39
      Nov 19, 2024 to Jan 30, 2025
    • State-registered IARs · 12 to 34
      Nov 19, 2024 to Jan 30, 2025
    • Other offices · 6 to 24
      Nov 19, 2024 to Jan 30, 2025
    • Discretionary RAUM · $289M to $688M
      Nov 19, 2024 to Jan 30, 2025
    • HNW RAUM · $132M to $308M
      Nov 19, 2024 to Jan 30, 2025
    • Individual RAUM · $153M to $373M
      Nov 19, 2024 to Jan 30, 2025
    • RAUM · $289M to $688M
      Nov 19, 2024 to Jan 30, 2025
    • Other offices · 5 to 6
      Apr 25, 2024 to May 31, 2024
    • Other offices · 4 to 5
      Mar 22, 2024 to Apr 17, 2024
    • Accounts · 670 to 1,521
      Sep 8, 2023 to Mar 22, 2024
    • Advisory employees · 1 to 12
      Sep 8, 2023 to Mar 22, 2024
    • BD registered reps · 3 to 9
      Sep 8, 2023 to Mar 22, 2024
    • Charity clients · 0 to 3
      Sep 8, 2023 to Mar 22, 2024
    • HNW clients · 82 to 71
      Sep 8, 2023 to Mar 22, 2024
    • Individual clients · 584 to 715
      Sep 8, 2023 to Mar 22, 2024
    • Employees · 4 to 12
      Sep 8, 2023 to Mar 22, 2024
    Signals
    21 dated events
    • 2 advisors left Equitable Advisors, LLC (Dallas, TX) for Victory Financial within 5 days
      Sep 10, 2026 · Team lift-out · derived
    • William Tait Herbig left Victory Financial for Strategic Financial Concepts, Llc (registered 2026-06-09)
      Apr 15, 2026 · Advisor changed firm · fact
    • Victory Financial reported 31 offices beyond its principal office, up from 25 (2026-02-23 to 2026-03-30)
      Mar 30, 2026 · Office count change · derived
    • Victory Financial reported 47 state-registered advisory representatives, up from 34 (2026-02-23 to 2026-03-30)
      Mar 30, 2026 · Advisor headcount change · derived
    • Victory Financial reported RAUM $1.3B, up 95% from $687.6M (2026-02-23 to 2026-03-30)
      Mar 30, 2026 · RAUM change · derived
    • 2 advisors left Isc Advisors, Inc. (Buda, TX) for Victory Financial on the same day
      Mar 17, 2026 · Team lift-out · derived
    • 2 advisors left Equitable Advisors, LLC (Arnold, MO) for Victory Financial on the same day
      Sep 24, 2025 · Team lift-out · derived
    • Karen Lea Pong left Victory Financial for Custom Wealth Solutions (registered 2025-06-23)
      Jun 16, 2025 · Advisor changed firm · fact
    • Victory Financial reported 34 state-registered advisory representatives, up from 12 (2024-11-19 to 2025-01-30)
      Jan 30, 2025 · Advisor headcount change · derived
    • Victory Financial reported RAUM $687.6M, up 138% from $288.8M (2024-11-19 to 2025-01-30)
      Jan 30, 2025 · RAUM change · derived
    • Victory Financial reported 24 offices beyond its principal office, up from 6 (2024-11-19 to 2025-01-30)
      Jan 30, 2025 · Office count change · derived
    • 6 advisors left Equitable Advisors, LLC (Houston, TX) for Victory Financial a day apart
      Dec 19, 2024 · Team lift-out · derived
    • 3 advisors left Equitable Advisors, LLC (Austin, TX) for Victory Financial a day apart
      Oct 30, 2024 · Team lift-out · derived
    • 2 advisors left Sagespring Wealth Partners (Franklin, TN) for Victory Financial within 6 days
      Oct 1, 2024 · Team lift-out · derived
    • Victory Financial reported 12 state-registered advisory representatives, up from 1 (2023-09-08 to 2024-03-22)
      Mar 22, 2024 · Advisor headcount change · derived
    • Victory Financial reported RAUM $288.8M, up 102% from $143.2M (2023-09-08 to 2024-03-22)
      Mar 22, 2024 · RAUM change · derived
    • 2 advisors left Equitable Advisors, LLC (Austin, TX) for Victory Financial within 3 days
      Feb 23, 2024 · Team lift-out · derived
    • 7 advisors left Equitable Advisors, LLC (Austin, TX) for Victory Financial within 28 days
      Aug 11, 2023 · Team lift-out · derived
    • Newt Kyle Wardlaw (Chief Compliance Officer And Presdient) appeared on Schedule A of Victory Financial
      May 11, 2023 · Control person joined · fact
    • 3 advisors left Equitable Advisors, LLC (Austin, TX) for Victory Financial within 14 days
      Apr 27, 2023 · Team lift-out · derived
    • Victory Financial Group Llc filed its initial SEC registration (Form ADV)
      Jan 26, 2023 · First SEC registration · 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
    Business email
    info@victoryfinancialgroup.comreportedpublished by the firm, firm site, Sep 15, 2026
    Business phone
    512-763-7671reportedpublished by the firm, firm site, Sep 15, 2026
    Firm profile
    linkedin.com/company/victoryfinancialgroupreportedpublic record, Form ADV, Sep 17, 2026
    Website
    victoryfinancialgroup.comreportedpublic record, Form ADV, Sep 17, 2026
    Principal office phone
    (512) 763-7671reportedpublic record, Form ADV, Jul 9, 2026
    Team page
    victoryfinancialgroup.com/advisorsreportedpublished by the firm, firm site, Sep 15, 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
    $24.8Mderivedfirm RAUM over the IAPD count; not a book size
    Loaded
    Sep 14, 2026