Wealth manager, independent · Dallas, TX
Penn Davis McFarland Inc
SEC-registered investment adviser · CRD 110417 · SEC 801-13038
At a glance
Penn Davis McFarland Inc is an SEC-registered investment adviser based in Dallas, Texas, with $1.4B in regulatory assets under management as of its Form ADV filed March 12, 2026. It reports 211 individual clients, 193 of them high-net-worth, holding an average of about $6.2 million each, and 10 employees. That ranks it 817th among the nation’s 5,657 independent wealth management RIAs and 50th of 367 in Texas. It reports 3 custodians for its clients’ separately managed accounts: Charles Schwab, Frost Bank and Merrill / Bank of America.
Main office 214-871-2772pdavis.orgLinkedInAs filed on Form ADV
- Regulatory AUM
- $1.4B
- Rank among independent wealth managers
- #817 of 5,657
- Rank among all SEC RIAs
- #4,527 of 17,210
- Rank in Texas
- #50 of 367
- Individual clients
- 211
- High-net-worth clients
- 193
- Accounts
- 549
- Discretionary
- 100% of AUM
- Employees
- 10
- Advisory staff
- 7
- Offices
- 2
Owners and executives on its Form ADV
- Robert V. OgdenPresident and Director
- Jeffrey W. HelfrichSenior Vice-President and Director
- Robert E. FeltyVice President & Chief Compliance Officer
Custody and brokerage
Broker-dealer
No broker-dealer ties
Penn Davis McFarland Inc reports no employees registered with a broker-dealer and no affiliated broker-dealer.
Who it serves
| Client type | Clients | Regulatory AUM | Share |
|---|---|---|---|
| High-net-worth individuals | 193 | $1.3B | 96% |
| Charitable organizations | – | $30M | 2% |
| Pension and profit sharing plans | – | $20M | 1% |
| Individuals | 18 | $5M | <1% |
Disciplinary disclosures
Penn Davis McFarland Inc reports no disciplinary disclosures in Item 11 of Form ADV. Read the details on the SEC’s adviser search ↗
Services
- Financial planning
- Portfolio management for individuals and small businesses
- Portfolio management for businesses and institutions
How it’s paid
- A percentage of assets under management
Form ADV and brochures on the SEC’s adviser search ↗pdavis.org ↗
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Similar-size RIAs in Texas
All of Texas →| Firm | Regulatory AUM | Clients |
|---|---|---|
| Cypress Point Wealth Management, LLCDallas | $1.5B | 177 |
| 49 FinancialAustin | $1.4B | 3,771 |
| Howard Financial Services, LTD.Dallas | $1.4B | 410 |
| Quadcap Wealth Management, LLCFrisco | $1.3B | 582 |
| FMP Wealth AdvisersAustin | $1.3B | 721 |
| Victory FinancialAustin | $1.3B | 2,937 |
Background
Questions
How much does Penn Davis McFarland Inc manage?
Penn Davis McFarland Inc reports $1.4B in regulatory assets under management across 549 accounts, 100% of it on a discretionary basis, on its Form ADV filed March 12, 2026.
How many clients does Penn Davis McFarland Inc have?
It reports 211 individual clients: 193 high-net-worth individuals and 18 other individuals. Individuals account for about 96% of its regulatory assets.
Where is Penn Davis McFarland Inc headquartered?
Its main office is in Dallas, Texas. It reports 2 offices in total and 10 employees, 7 of whom perform investment advisory functions.
How does Penn Davis McFarland Inc charge clients?
On Form ADV it lists these forms of compensation: a percentage of assets under management. Fees and minimums are set out in its Form ADV Part 2A brochure, available on the SEC’s adviser search.
What custodian does Penn Davis McFarland Inc use?
It reports 3 custodians for its clients’ separately managed accounts: Charles Schwab, Frost Bank and Merrill / Bank of America. On Schedule D of its Form ADV filed March 12, 2026, it reports these amounts held: Charles Schwab ($682M); Frost Bank ($550M); Merrill / Bank of America ($126M). Form ADV lists only custodians holding 10% or more of separately managed account assets.
Is Penn Davis McFarland Inc a hybrid RIA with a broker-dealer?
Penn Davis McFarland Inc reports no employees registered with a broker-dealer and no affiliated broker-dealer.
Is Penn Davis McFarland Inc a fiduciary?
As an SEC-registered investment adviser, Penn Davis McFarland Inc owes its advisory clients a fiduciary duty under the Investment Advisers Act of 1940, which includes duties of care and loyalty. It reports no employees who are registered representatives of a broker-dealer.
Where these numbers come from
Every figure is Penn Davis McFarland Inc’s own answer on its latest Form ADV, from the SEC’s registered-adviser list as of October 1, 2026: regulatory assets and accounts (Item 5.F), clients by type (5.D), employees (5.A and 5.B), compensation (5.E) and services (5.G). Custodians come from Schedule D 5.K(3) of its latest filing (2026-03-12), which lists those holding 10% or more of separately managed account assets and the amount at each. “Hybrid” means some employees are also registered representatives of a broker-dealer (Item 5.B(2)); affiliated broker-dealers are the related persons it lists in Item 7.A and Schedule D. Firm type comes from its own answers: broker-dealer firms are registered broker-dealers themselves (Item 6.A); private fund advisers manage mostly private funds (Item 7.B, 5.D); wealth managers manage at least half their assets for individuals (5.D). Its national rank compares it with every US-based independent wealth management RIA, the same field as The Largest RIAs. Figures are as of the firm’s last annual update, so they can lag recent deals and market moves. Regulatory AUM counts assets the firm continuously supervises and can differ from what a firm markets.
Not an endorsement or a recommendation. Before hiring any adviser, read its Form ADV Part 2A brochure and check its record on the SEC’s adviser search. How to check a financial advisor →