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

Hilltop Securities Inc.

Broker-dealer affiliated wealth managerDallas, TexasCRD 6220SEC 801-55529websiteIAPD
Latest filing Aug 11, 2026
First filing on the tape Dec 22, 2011 · 100 filings
SEC status approved since Jun 10, 1998
RAUM
$2.5B
reported, Item 5.F
Discretionary
72%
of RAUM
Private clients
90%
$2.3B individuals and HNW
Advisors
164
registered through the firm on IAPD
RAUM per advisor
$15.3M
derived; firm RAUM over IAPD count
Employees
92
92 advisory (5.B.1)
Offices
18
beyond the principal office
Private funds
0
reported on Schedule D
History
100 filings and snapshots on the tape
RAUM$2.5B as of Aug 11, 2026
Sep 28, 2012$652M then
HNW client RAUM$1.4B as of Aug 11, 2026
Mar 29, 2018$88.4M then
State-registered IARs (5.B.3)92 as of Aug 11, 2026
Sep 17, 2013218 then
Employees (5.A)92 as of Aug 11, 2026
Sep 17, 2013218 then
Private funds: no history
RAUM +11% over the last fiscal year+13% a year over threeIARs 91 to 92offices 19 to 18
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
$15.2MderivedRAUM over IAPD advisors; not a book size
Clients per advisor
20derivedindividual and HNW clients (5.D) over advisors
Average HNW client
$2.4MderivedHNW RAUM over HNW clients
Average account
$448,412derivedRAUM over accounts (5.F.2.f)
Discretionary
72%derivedof RAUM
Institutional
4.8%derivedpensions, charities, corporations, government, insurance, banks, other advisers
Employees per advisor
0.6derivedItem 5.A over advisors
Advisors per office
8.7derived19 offices incl. principal (1.F.5)
RAUM growth, one year
+11%derivedbetween the last two annual amendments
Advisor growth, one year
+1.1%derivedItem 5.B.3 between annual amendments
Client growth, one year
+51%derived
Compensation
percentage of assets, hourly, fixed fees, otherreportedItem 5.E
Advisory activities
financial planning, portfolio management for individuals, pension consulting, selection of other advisers, publications, educational seminarsreportedItem 5.G
Wrap fee program
$2.4BreportedItem 5.I
Custody
$2.5B, 5,866 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
  • 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)
  • has custody of client cash or bank accounts (9.A.1.a)
  • has custody of client securities (9.A.1.b)
  • the adviser acts as qualified custodian (9.D.1)
Where the RAUM sits
Form ADV Item 5.D, latest filing
  • High-net-worth individuals$1.4B57%
  • Individuals$829M33%
  • Corporations and businesses$126M5.0%
  • State and municipal entities$73.0M2.9%
  • Charitable organizations$27.7M1.1%
  • Pension and profit-sharing plans$19.2M0.8%
Individual clients
2,736reported
HNW clients
599reported
Pension plan clients
7reported
Charitable clients
11reported
Accounts
5,592reported
Financial planning clients
26-50reported
Wrap fee programs
$988M sponsored, $0 managedreported
Custody of client assets
$2.5B for 5,866 clientsreported
Compensation
% of AUM, fixed, hourlyreported
Class basis
private_client_share=0.9 fund_share=0.0 institutional_share=0.05 related_bd=true related_bank=true bd_reps=91.0derived
Advisors registered through the firm
138 on IAPD today, longest tenure first
NameBranchHere sinceIn industryPrior firms
James Hardie JonesDallas, TxAug 30, 200033 y0
Mark Allen CliftDallas, TxApr 23, 200337 y1
Walter Joseph AnthonyPlano, TxJan 31, 200830 y2
Peter George CapposDallas, Tx Oct 21, 200832 y1
Milford Lee SternLos Angeles, Ca Oct 22, 200846 y2
Kevin Darin KottMonterey, Ca Nov 10, 200839 y1
Jeffrey Michael MargolisSherman Oaks, CaNov 10, 200842 y1
Bradley Todd GlasmanHeber City, Ut Nov 12, 200842 y1
Dennis RobberechtRoseville, CaNov 18, 200842 y1
Cliff J MillemannRoseville, Ca Nov 19, 200841 y1
Michael Richard DavidsonDallas, Tx Nov 19, 200822 y1
Leonard Norman LaubMonterey, Ca Nov 20, 200842 y1
Thomas James FaledasDallas, Tx Nov 20, 200824 y1
Stacy Lynn SternportmanCalabasas, Ca Dec 4, 200840 y1
William James PinkertonMonterey, CaDec 9, 200846 y1
Gary Steven FrazeurSherman Oaks, CaDec 10, 200832 y1
Efrain Felipe BorensteinPasadena, Ca Dec 10, 200835 y1
Marlene Audrey GotzSan Diego, CaDec 10, 200832 y1
David Alan GotzSan Diego, CaDec 10, 200844 y1
Howard Drew ArdenSan Diego, CaDec 10, 200822 y1
David Kevin NielsenRoseville, CaDec 10, 200832 y1
Gary Scott WallerCertified Financial PlannerRoseville, CaDec 10, 200824 y1
Michael Clement SpohnSan Francisco, CaDec 10, 200822 y1
Paul Lawrence WunschStudio City, Ca Dec 10, 200836 y1
Michael David KarpSherman Oaks, CaDec 11, 200842 y1
Barbara FrenkelSherman Oaks, CaDec 11, 200845 y1
William H SkeltonDallas, TxJan 30, 200925 y1
Adam Ray MelvilleSherman Oaks, Ca Mar 10, 200917 y0
William Sean CoyleOklahoma City, OkMar 30, 200929 y1
William Edward Livingston CosterDallas, Tx Apr 3, 200936 y2
Eugene Walt ParrishDallas, TxApr 27, 200926 y1
Michael Emerson CampbellDallas, TxMay 6, 200945 y1
Steven Alexander SarkissianPlano, TxMay 8, 200926 y1
Stephen Paul CrossmanDallas, TxMay 12, 200934 y1
James Earl PenceNorman, OkJun 5, 200928 y1
Joan Geurkink LawsonCertified Financial PlannerNorman, Ok Jun 5, 200935 y1
Pamela J BromsNorman, OkSep 15, 200940 y2
Jemilson PierrelouisDallas, TxJan 5, 201118 y0
Parker Wayne BreanSan Diego, CaApr 12, 201118 y0
Robert Alvin HartyPlano, TxMay 18, 201218 y2
All 138 advisors at Hilltop Securities Inc.
Advisor movement
4 left, 8 joined in 12 months
net +4 in 12 months0 left in 90 days0 joined in 90 daysdeparture rate 2.4% of current headcount21 left over 36 months
Left, latest
Joined, latest
Teams: two or more advisors moving together within fourteen days, from one state
Private funds
No private fund reported.
Owners and control persons
Schedule A and B, latest filing
  • Laura Bonnell Alexander · Board Directorcontrol
    since 08/2017 · owns less than 5%
  • Michael George Bartolotta · Board Directorcontrol
    since 12/2025 · owns less than 5%
  • Scott Andrew Coya · Chief Compliance Officercontrol
    since 01/2022 · owns less than 5%
  • Joseph Michael Edge · Chief Financial Officercontrol
    since 01/2016 · owns less than 5%
  • Laura Leventhal · Board Directorcontrol
    since 09/2013 · owns less than 5%
  • David King Medanich · Board Directorcontrol
    since 08/2017 · owns less than 5%
  • John Richard Muschalek · Board Directorcontrol
    since 03/2015 · owns less than 5%
  • Jonathan Scott Sobel · Chairmancontrol
    since 07/2019 · owns less than 5%
  • Martin Bradley Winges · Ceo/President/Directorcontrol
    since 02/2019 · owns less than 5%
  • Brian Lane Wittneben · General Counsel/Secretarycontrol
    since 03/2016 · owns less than 5%
  • Romeo Linsangan Pineda · Principal Operations Officer
    since 03/2022 · owns less than 5%
Entity owners
  • Hilltop Securities Holdings, · Parent
    direct · owns 75% or more
  • Hilltop Securities Holdings, LLC · Parent
    direct · owns 75% or more
  • Hilltop Holdings Inc. · Parent
    indirect · owns 75% or more of Hilltop Securities Holdings, LLC · public reporting company
Related persons
Schedule D 7.A
Advisers that list Hilltop Securities Inc. as a related person
Office movement
IAPD branch city; joins and departures in 12 months
OfficeAdvisorsJoinedLeftTeams outForming
Dallas, Tx · principal92161
Sherman Oaks, Ca1701
Plano, Tx1100
Austin, Tx900
San Diego, Ca700
Monterey, Ca700
Roseville, Ca600
Memphis, Tn510
Norman, Ok400
Houston, Tx300
Sherman, Tx300
San Antonio, Tx300
Fort Worth, Tx300
Amarillo, Tx210
Charlotte, Nc220
New York, Ny210
Oklahoma City, Ok200
San Francisco, Ca200
St Paul, Mn210
Boerne, Tx101
Offices
Schedule D 1.F, the 25 largest
  • Sherman Oaks, CA16 employees
  • Dallas, TX13 employees
  • Austin, TX10 employees
  • Monterey, CA10 employees
  • Plano, TX9 employees
  • Oklahoma City, OK7 employees
  • San Diego, CA7 employees
  • Roseville, CA6 employees
  • Norman, OK6 employees
  • San Francisco, CA5 employees
  • Houston, TX3 employees
  • Sherman, TX3 employees
  • Ft. Worth, TX3 employees
  • Big Bear Lake, CA3 employees
  • San Antonio, TX2 employees
  • The Woodlands, TX2 employees
  • Lufkin, TX1 employees
ADV anomalies
4 against comparable advisers; where to look, not conclusions
  • control person changedChange between filings · filing Aug 11, 2026
    BARTOLOTTA, MICHAEL GEORGE (BOARD DIRECTOR) appeared on Schedule A between the filings of 2023-12-12 and 2026-08-11
    peers: affiliated wealth managers, $1B to $5B (56)
  • control person changedChange between filings · filing Aug 11, 2026
    MUSCHALEK, JOHN RICHARD (BOARD DIRECTOR) left Schedule A between the filings of 2023-12-12 and 2026-08-11
    peers: affiliated wealth managers, $1B to $5B (56)
  • client count surgeChange between filings · filing Mar 30, 2026
    individual and HNW clients (Item 5.D) moved from 2,209.0 to 3,335.0 (+51.0%) between the annual amendments of 2025-03-26 and 2026-03-30; the peer median change was +9.0% (50 comparable advisers, 92.0th percentile of changes)
    peers: affiliated wealth managers, $1B to $5B (50) · 92% percentile
  • HNW share shiftChange between filings · filing Mar 30, 2026
    HNW share of RAUM moved from 40.0% to 57.0% 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 · 5,181 to 5,592
    Nov 12, 2025 to Mar 30, 2026
  • Advisory employees · 91 to 92
    Nov 12, 2025 to Mar 30, 2026
  • BD registered reps · 90 to 91
    Nov 12, 2025 to Mar 30, 2026
  • Charity clients · 1 to 11
    Nov 12, 2025 to Mar 30, 2026
  • Corporate clients · 28 to 49
    Nov 12, 2025 to Mar 30, 2026
  • HNW clients · 871 to 599
    Nov 12, 2025 to Mar 30, 2026
  • Individual clients · 1,338 to 2,736
    Nov 12, 2025 to Mar 30, 2026
  • Pension plan clients · 3 to 7
    Nov 12, 2025 to Mar 30, 2026
  • Assets in custody · $2.3B to $2.5B
    Nov 12, 2025 to Mar 30, 2026
  • Employees · 91 to 92
    Nov 12, 2025 to Mar 30, 2026
  • State-registered IARs · 91 to 92
    Nov 12, 2025 to Mar 30, 2026
  • Other offices · 19 to 18
    Nov 12, 2025 to Mar 30, 2026
  • Discretionary RAUM · $1.6B to $1.8B
    Nov 12, 2025 to Mar 30, 2026
  • HNW RAUM · $893M to $1.4B
    Nov 12, 2025 to Mar 30, 2026
  • Individual RAUM · $1.3B to $829M
    Nov 12, 2025 to Mar 30, 2026
  • Non-discretionary RAUM · $626M to $710M
    Nov 12, 2025 to Mar 30, 2026
  • Pension RAUM · $40.0M to $19.2M
    Nov 12, 2025 to Mar 30, 2026
  • RAUM · $2.3B to $2.5B
    Nov 12, 2025 to Mar 30, 2026
  • Wrap assets (manager) · $896M to $0
    Nov 12, 2025 to Mar 30, 2026
  • Wrap assets (sponsor) · $1.0B to $988M
    Nov 12, 2025 to Mar 30, 2026
  • Accounts · 4,546 to 5,181
    Dec 19, 2024 to Mar 26, 2025
  • Advisory employees · 113 to 91
    Dec 19, 2024 to Mar 26, 2025
  • Advisory activities · 5 to 6
    Dec 19, 2024 to Mar 26, 2025
  • BD registered reps · 113 to 90
    Dec 19, 2024 to Mar 26, 2025
  • Charity clients · 2 to 1
    Dec 19, 2024 to Mar 26, 2025
  • Corporate clients · 20 to 28
    Dec 19, 2024 to Mar 26, 2025
  • HNW clients · 944 to 871
    Dec 19, 2024 to Mar 26, 2025
  • Individual clients · 1,372 to 1,338
    Dec 19, 2024 to Mar 26, 2025
  • Pension plan clients · 5 to 3
    Dec 19, 2024 to Mar 26, 2025
  • Assets in custody · $1.9B to $2.3B
    Dec 19, 2024 to Mar 26, 2025
  • Employees · 113 to 91
    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 · 113 to 91
    Dec 19, 2024 to Mar 26, 2025
  • Other offices · 17 to 19
    Dec 19, 2024 to Mar 26, 2025
  • Discretionary RAUM · $1.4B to $1.6B
    Dec 19, 2024 to Mar 26, 2025
  • HNW RAUM · $1.4B to $893M
    Dec 19, 2024 to Mar 26, 2025
  • Individual RAUM · $429M to $1.3B
    Dec 19, 2024 to Mar 26, 2025
  • Non-discretionary RAUM · $500M to $626M
    Dec 19, 2024 to Mar 26, 2025
  • Pension RAUM · $39.5M to $40.0M
    Dec 19, 2024 to Mar 26, 2025
  • RAUM · $1.9B to $2.3B
    Dec 19, 2024 to Mar 26, 2025
Signals
60 dated events
  • Curran T Bradley registered as an investment adviser representative at Hilltop Securities Inc.
    Sep 16, 2026 · Advisor registered · fact
  • Fletcher Atwood Hopper registered as an investment adviser representative at Hilltop Securities Inc.
    Sep 14, 2026 · Advisor registered · fact
  • William Carr Stokes left Hilltop Securities Inc. for Frost Investment Services (registered 2026-06-02)
    Jun 1, 2026 · Advisor changed firm · fact
  • Thomas Michael O'Connell left Hilltop Securities Inc. for Carnegie Wealth Management Llc (registered 2026-04-27)
    May 22, 2026 · Advisor changed firm · fact
  • Nicholas Alexander Hughes left Hilltop Securities Inc. for Cetera Investment Advisers Llc (registered 2026-06-04)
    May 1, 2026 · Advisor changed firm · fact
  • Brice Eber-Morris left Hilltop Securities Inc. for Rockefeller Capital Management (registered 2026-02-04)
    Feb 2, 2026 · Advisor changed firm · fact
  • William Woolfolk Nelson left Hilltop Securities Inc. for Momentum Independent Network Inc. (registered 2013-08-08)
    May 15, 2025 · Advisor changed firm · fact
  • Kristie Lyn Messina left Hilltop Securities Inc. for Messina Wealth Management, Llc (registered 2025-02-17)
    Apr 29, 2025 · Advisor changed firm · fact
  • Keaton Russell left Hilltop Securities Inc. for Momentum Independent Network Inc. (registered 2025-01-13)
    Apr 29, 2025 · Advisor changed firm · fact
  • John D Boyle left Hilltop Securities Inc. for Ameriprise Financial Services, Llc (registered 2025-04-07)
    Apr 29, 2025 · Advisor changed firm · fact
  • Lawrence Jude Messina left Hilltop Securities Inc. for Messina Wealth Management, Llc (registered 2025-01-03)
    Jan 13, 2025 · Advisor changed firm · fact
  • Christine R Pagliaro left Hilltop Securities Inc. for Morgan Stanley (registered 2025-01-02)
    Dec 20, 2024 · Advisor changed firm · fact
  • 3 advisors left Truist Advisory Services, Inc. (Dallas, TX) for Hilltop Securities Inc. within 5 days
    Aug 30, 2024 · Team lift-out · derived
  • Nicholas C. Mcmahan left Hilltop Securities Inc. for Cetera Investment Advisers Llc (registered 2024-09-23)
    Aug 28, 2024 · Advisor changed firm · fact
  • Angela Dawn Raley left Hilltop Securities Inc. for Bok Financial Advisors (registered 2024-04-08)
    Apr 9, 2024 · Advisor changed firm · fact
  • John Christian Coyle left Hilltop Securities Inc. for Momentum Independent Network Inc. (registered 2024-02-29)
    Mar 27, 2024 · Advisor changed firm · fact
  • Joseph Walter Turek left Hilltop Securities Inc. for Foundations Investment Advisors Llc (registered 2024-04-17)
    Mar 18, 2024 · Advisor changed firm · fact
  • Patrick Garrett Deist left Hilltop Securities Inc. for Oakwell Private Wealth Management (registered 2024-03-25)
    Mar 14, 2024 · Advisor changed firm · fact
  • Paige Richards left Hilltop Securities Inc. for J.P. Morgan Securities Llc (registered 2024-03-13)
    Mar 14, 2024 · Advisor changed firm · fact
  • David Jay Pergande left Hilltop Securities Inc. for M Holdings Securities, Inc. (registered 2024-03-19)
    Mar 6, 2024 · Advisor changed firm · fact
  • 2 advisors left Edward Jones (San Antonio, TX) for Hilltop Securities Inc. within 4 days
    Feb 22, 2024 · Team lift-out · derived
  • Craig A Callon left Hilltop Securities Inc. for Fisher Investments (registered 2023-12-01)
    Nov 30, 2023 · Advisor changed firm · fact
  • Jay David Angotti left Hilltop Securities Inc. for Kpc Financial Solutions, Llc (registered 2023-11-17)
    Nov 30, 2023 · Advisor changed firm · fact
  • Jonathan Mark Rawlings left Hilltop Securities Inc. for Prospera Financial Services, Inc. (registered 2023-09-21)
    Oct 12, 2023 · Advisor changed firm · fact
  • Joseph Andrew Giardano left Hilltop Securities Inc. for Prospera Financial Services, Inc. (registered 2023-09-21)
    Oct 12, 2023 · Advisor changed firm · fact
  • 2 advisors left Hilltop Securities Inc. (Dallas, TX) for Prospera Financial Services, Inc. on the same day
    Oct 12, 2023 · Team lift-out · derived
  • Adam Ran Baker left Hilltop Securities Inc. for Fisher Investments (registered 2026-04-15)
    Sep 1, 2023 · Advisor changed firm · fact
  • Jason Scott Dodson left Hilltop Securities Inc. for Lpl Financial Llc (registered 2023-06-13)
    Jul 5, 2023 · Advisor changed firm · fact
  • Daniel Wayne Steffes left Hilltop Securities Inc. for The Oak Ridge Financial Services Group, Inc (registered 2023-06-05)
    Jul 5, 2023 · Advisor changed firm · fact
  • James Russell Malone left Hilltop Securities Inc. for Lpl Financial Llc (registered 2023-06-14)
    Jul 3, 2023 · Advisor changed firm · 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 17, 2026
Website
communitybankgroup.comreportedpublic record, Form ADV, Sep 17, 2026
Principal office phone
214-953-4000reportedpublic 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
$15.3Mderivedfirm RAUM over the IAPD count; not a book size
Loaded
Sep 14, 2026