Wealth manager, independent · Austin, TX
Victory Financial
Victory Financial Group LLC · SEC-registered investment adviser · CRD 324943 · SEC 801-127385
At a glance
Victory Financial is an SEC-registered investment adviser based in Austin, Texas, with $1.3B in regulatory assets under management as of its Form ADV filed July 9, 2026. It reports 2,937 individual clients, 360 of them high-net-worth, holding an average of about $0.4 million each, and 47 employees. That ranks it 835th among the nation’s 5,657 independent wealth management RIAs and 53rd of 367 in Texas. It reports Charles Schwab as the custodian for its clients’ separately managed accounts.
Main office 512-763-7671victoryfinancialgroup.comLinkedInAs filed on Form ADV
- Regulatory AUM
- $1.3B
- Rank among independent wealth managers
- #835 of 5,657
- Rank among all SEC RIAs
- #4,585 of 17,210
- Rank in Texas
- #53 of 367
- Individual clients
- 2,937
- High-net-worth clients
- 360
- Accounts
- 6,805
- Discretionary
- 100% of AUM
- Employees
- 47
- Advisory staff
- 47
- Offices
- 33
Owners and executives on its Form ADV
- Jeffrey W. DavidsonMember, Founder and Chairman
- Kyle N. WardlawChief Compliance Officer and Presdient
Custody and brokerage
Broker-dealer
Hybrid RIA
Victory Financial is a hybrid RIA: 18 of its employees are also registered representatives of a broker-dealer.
Its Form ADV brochure (filed March 2026) names Purshe Kaplan Sterling Investments as the broker-dealer its advisers are registered with.
Under this arrangement, the Firm’s Supervised Persons, in their individual capacities as registered representatives of Purshe Kaplan Sterling Investments, Inc.
Who it serves
| Client type | Clients | Regulatory AUM | Share |
|---|---|---|---|
| High-net-worth individuals | 360 | $738M | 55% |
| Individuals | 2,577 | $581M | 43% |
| Corporations or other businesses | 27 | $14M | 1% |
| Charitable organizations | 39 | $4M | <1% |
Disciplinary disclosures
Victory Financial answers yes to 6 disclosure items in Item 11 of Form ADV (criminal, regulatory or civil matters involving the firm or its advisory affiliates). 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
- Selecting other advisers
How it’s paid
- A percentage of assets under management
- Fixed fees
Form ADV and brochures on the SEC’s adviser search ↗victoryfinancialgroup.com ↗
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The full record on Victory Financial
Ten years of SEC filings, its owners and contacts, and how it stacks up against its peers. Atlas members see all of it.
- Assets, accounts, clients and staff, 2 years of filings
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- Growth over one, three and five years
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- Rank against 2,772 peers of its type and size
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- Owners and executives, with titles and stakes
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- Main office, fax and compliance officer
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- Filing changes this year, with alerts
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Free while Atlas launches: create a free account and confirm your email. Every figure comes from SEC filings.
Similar-size RIAs in Texas
All of Texas →| Firm | Regulatory AUM | Clients |
|---|---|---|
| Penn Davis McFarland IncDallas | $1.4B | 211 |
| Quadcap Wealth Management, LLCFrisco | $1.3B | 582 |
| FMP Wealth AdvisersAustin | $1.3B | 721 |
| Rhame & Gorrell Wealth ManagementThe Woodlands | $1.3B | 837 |
| Beacon Financial GroupDallas | $1.3B | 1,052 |
| Meristead Wealth, LLCWestlake | $1.3B | 975 |
Background
Questions
How much does Victory Financial manage?
Victory Financial reports $1.3B in regulatory assets under management across 6,805 accounts, 100% of it on a discretionary basis, on its Form ADV filed July 9, 2026.
How many clients does Victory Financial have?
It reports 2,937 individual clients: 360 high-net-worth individuals and 2,577 other individuals. Individuals account for about 99% of its regulatory assets.
Where is Victory Financial headquartered?
Its main office is in Austin, Texas. It reports 33 offices in total and 47 employees, 47 of whom perform investment advisory functions.
How does Victory Financial charge clients?
On Form ADV it lists these forms of compensation: a percentage of assets under management; fixed fees. Fees and minimums are set out in its Form ADV Part 2A brochure, available on the SEC’s adviser search.
What custodian does Victory Financial use?
It reports Charles Schwab as the custodian for its clients’ separately managed accounts. On Schedule D of its Form ADV filed July 9, 2026, it reports these amounts held: Charles Schwab ($1.2B). Form ADV lists only custodians holding 10% or more of separately managed account assets.
Is Victory Financial a hybrid RIA with a broker-dealer?
Victory Financial is a hybrid RIA: 18 of its employees are also registered representatives of a broker-dealer. Those representatives can also earn commissions on brokerage business through the broker-dealer, where different rules apply than for advisory accounts.
Is Victory Financial a fiduciary?
As an SEC-registered investment adviser, Victory Financial owes its advisory clients a fiduciary duty under the Investment Advisers Act of 1940, which includes duties of care and loyalty. 18 of its employees are also registered representatives of a broker-dealer, where different rules apply to brokerage recommendations.
Where these numbers come from
Every figure is Victory Financial’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 (2026-07-09), 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 →