Howard Financial Services, Ltd.
SEC-registered
Wealth Manager · Mid-sized ($1B–$10B)
CRD 107978
· SEC file 801-46741
· Dallas, TX
· WWW.HFS-WM.COM
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ADV data as of Jun 19, 2026
- Regulatory AUM
- $1.4B
- Discretionary
- $1.4B
- Clients
- 446
- Avg AUM / client
- $3.1M
- Accounts
- 1,276
- Employees
- 24
AUM over time
$625M
$1.4B
Mar 30, 2012
Jun 19, 2026
Reported AUM from Form ADV filings, plotted by filing date · as of Jun 19, 2026
Who they serve
| Client type | Clients | AUM | % of AUM |
|---|---|---|---|
| Individuals (non-high net worth) | 151 | $38.4M | 2.74% |
| High net worth individuals | 259 | $1.1B | 79.9% |
| Pooled investment vehicles (non-investment companies) | 31 | $224M | 16.0% |
| Charitable organizations | 3 | $18.1M | 1.29% |
| Corporations and other businesses | 2 | $1.0M | 0.07% |
Private funds (33)
View all →Reported in Form ADV Section 7.B.(1), filing of Dec 2024 · $205M combined gross assets
| Fund | Type | Domicile | Gross assets | Owners |
|---|---|---|---|---|
| Hfs Slj Mineral Partners Iv, Lp | Other Private Fund | Texas | $31.3M | 17 |
| Hfs Slj Mineral Partners Iii | Other Private Fund | Texas | $27.7M | 96 |
| Hfs Mockingbird Lp | Real Estate Fund | Texas | $16.5M | 47 |
| Hfs Bxp Iii, Lp | Other Private Fund | Texas | $14.9M | 54 |
| Hfs Slj Mineral Partners Ii | Other Private Fund | Texas | $14.4M | 74 |
| Hfs Mineral Partners V, Lp | Other Private Fund | Texas | $12.7M | 90 |
| Hfs Orri Fund 2023, Lp | Other Private Fund | Texas | $10.9M | 88 |
| Hfs Laredo Industrial, Lp | Real Estate Fund | Texas | $10.1M | 80 |
| Hfs Houston Seniors Il, Lp | Real Estate Fund | Texas | $9.3M | 71 |
| Hfs Westland Ga Lots, Lp | Real Estate Fund | Texas | $9.2M | 53 |
| Hmpf 2022, Lp | Real Estate Fund | Texas | $6.9M | 25 |
| Hfs Lakeland Fl Retail, Lp | Real Estate Fund | Texas | $6.7M | 53 |
| Hfs Slj Mineral Partners I | Other Private Fund | Texas | $4.7M | 74 |
| Hfs Id Fund Lp | Hedge Fund | Texas | $4.2M | 1 |
| Hfs Phoenix 07 Fund Lp | Real Estate Fund | Texas | $4.0M | 93 |
People (18)
roster as of Jul 20, 2026| Name | Role / title | Credentials | With firm since | Ownership |
|---|---|---|---|---|
| James N Howard | Owner/Director | Personal Financial Specialist | Jul 1994 (32y) | 75% or more of Howard Financial, Inc. (indirect) |
| John T Howard | Trustee | Dec 2003 (23y) | 75% or more of The Thomas 1991 Irrevocable Trust (indirect) | |
| Stephen James Howard | Trustee | Apr 2004 (22y) | 75% or more of The James 1991 Irrevocable Trust (indirect) | |
| Derek Daniel Childs | Member | CFP | Jun 2011 (15y) | ≈ 3.75% – 10% via Apache Acquisitions, Ltd. |
| Smiley, Lisa | Trustee | Dec 2022 (4y) | GP / trustee / elected manager of Lisa Smiley Revocable Trust (indirect) | |
| Hodges, Rachel, Kay | Cco | Mar 2023 (3y) | Less than 5% | |
| William Loyd Gray | Registered representative | Feb 2012 (14y) | ||
| Randall Wyatt Horton | Registered representative | Aug 2013 (13y) | ||
| Albi Kacani | Registered representative | CFP | Sep 2013 (13y) | |
| Emily Nicole Swerdlow | Registered representative | CFP | Sep 2015 (11y) | |
| John Mark Roppolo | Registered representative | Jun 2017 (9y) | ||
| Ross Austin Morrow | Registered representative | Jul 2017 (9y) | ||
| Mason Chandler Clark | Registered representative | Mar 2019 (7y) | ||
| Gregory Vincent Mangelsdorf | Registered representative | CFP | Oct 2019 (7y) | |
| Shelby Ann Henderson | Registered representative | CFP | Oct 2022 (4y) | |
| Chasity Marie Chavez | Registered representative | CFP | Aug 2025 (1y) | |
| William Ramsey Moran | Registered representative | CFA | Apr 2026 (0y) | |
| Caden Walker Reagan | Registered representative | CFP | Jun 2026 (0y) |
Entity owners (Schedule A/B)
| Entity | Title / status | Since | Sch. | Ownership |
|---|---|---|---|---|
| Apache Acquisitions, Ltd. | Limited Partner | Dec 2020 | A | 5% – 10% |
| Lisa Smiley P.C. | Limited Partner | Dec 2020 | A | 5% – 10% |
| Lisa Smiley Revocable Trust | Shareholder | Dec 2022 | B | ≈ 3.75% – 10% via Lisa Smiley P.C. |
Undisclosed: 75% – 90% of the firm is not attributable from the filed Schedule A bands.
Estimated effective ownership (look-through of filed bands):
- Derek Daniel Childs: 75% – 100% of Apache Acquisitions, Ltd. × 5% – 10% direct ≈ 3.75% – 10% of the firm
- Lisa Smiley Revocable Trust: 75% – 100% of Lisa Smiley P.C. × 5% – 10% direct ≈ 3.75% – 10% of the firm
Roster from the IAPD representatives feed; ownership and acquisition dates from Form ADV Schedule A/B. "Since" is the earliest filed registration or acquisition date.
Private funds (33, $205M gross assets)
| Fund | Type | Gross assets | Min. investment | Owners |
|---|---|---|---|---|
| Hfs Slj Mineral Partners Iv, Lp | Other Private Fund | $31.3M | $100K | 17 |
| Hfs Slj Mineral Partners Iii | Other Private Fund | $27.7M | $100K | 96 |
| Hfs Mockingbird Lp | Real Estate Fund | $16.5M | $100K | 47 |
| Hfs Bxp Iii, Lp | Other Private Fund | $14.9M | $100K | 54 |
| Hfs Slj Mineral Partners Ii | Other Private Fund | $14.4M | $100K | 74 |
| Hfs Mineral Partners V, Lp | Other Private Fund | $12.7M | $100K | 90 |
| Hfs Orri Fund 2023, Lp | Other Private Fund | $10.9M | $100K | 88 |
| Hfs Laredo Industrial, Lp | Real Estate Fund | $10.1M | $100K | 80 |
| Hfs Houston Seniors Il, Lp | Real Estate Fund | $9.3M | $100K | 71 |
| Hfs Westland Ga Lots, Lp | Real Estate Fund | $9.2M | $100K | 53 |
| Hmpf 2022, Lp | Real Estate Fund | $6.9M | $100K | 25 |
| Hfs Lakeland Fl Retail, Lp | Real Estate Fund | $6.7M | $100K | 53 |
| Hfs Slj Mineral Partners I | Other Private Fund | $4.7M | $100K | 74 |
| Hfs Id Fund Lp | Hedge Fund | $4.2M | $500K | 1 |
| Hfs Phoenix 07 Fund Lp | Real Estate Fund | $4.0M | $100K | 93 |
| Hfs Royce City Land, Lp | Real Estate Fund | $3.6M | $100K | 34 |
| Hfs Bxp Ii, Lp | Other Private Fund | $3.4M | $100K | 36 |
| Hfs Hampton Road, Lp | Real Estate Fund | $3.2M | $100K | 30 |
| Hfs Roaring Fork, Lp | Real Estate Fund | $3.1M | $100K | 21 |
| Hfs Nla Oceanside, Lp | Real Estate Fund | $1.6M | $100K | 42 |
| Hfs Holleman, Lp | Real Estate Fund | $1.5M | $100K | 13 |
| Hfs Little Rock Office, Lp | Real Estate Fund | $1.5M | $100K | 76 |
| Hfs Land Fund Lp | Real Estate Fund | $815K | $100K | 30 |
| Hfs Maple Crossing, Lp | Real Estate Fund | $769K | $100K | 9 |
| Hfs Land Fund Ii, Lp | Real Estate Fund | $395K | $100K | 5 |
Top 25 of 33 funds by gross assets · all funds
From Form ADV Section 7.B private fund reporting.
Documents (1 archived)
| Form | Period | Size | |
|---|---|---|---|
| Form ADV (full filing) | 06/19/2026 | 6.04 MB | View · PDF · Source ↗ |
Archived copies of the firm's regulatory filings, versioned by content hash.
Disciplinary disclosures
No disciplinary events reported on the firm's latest Form ADV filing.
How they charge
- • Percentage of assets under management
- • Hourly charges
- • Fixed fees
Services
- • Financial planning services
- • Portfolio management for individuals/small businesses
- • Portfolio management for pooled investment vehicles
- • Portfolio management for businesses/institutional clients
- • Selection of other advisers
Custody
Reported custodians
- Charles Schwab & Co. $1.2B (83% of AUM) Jun 2026
Amounts as reported in ADV Item 5.K.(3) (custodians holding 10%+ of SMA assets).
Firm reports having custody of client funds or securities (Item 9.A).
Source
All data on this page comes from this firm's Form ADV filings, reproduced without modification. Latest filing: Jun 19, 2026.
View current Form ADV (SEC/IAPD) ↗