# Howard Financial Services, Ltd.

> Howard Financial Services, Ltd. is an SEC-registered investment advisory firm in Dallas, TX, registered since 1994, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated August 12, 2026.

- CRD: 107978
- Filed as: HOWARD FINANCIAL SERVICES, LTD.
- Also doing business as: HFS CAPITAL PARTNERS, HFS WEALTH MANAGEMENT
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Dallas, TX
- Filing period: October 2026
- Form ADV filing dated: August 12, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/107978
- AdvisorCensus page: https://advisorcensus.com/firm/howard-financial-services-ltd-dallas-tx-107978

## Quick answers

**How is Howard Financial Services, Ltd. compensated?**
On its Form ADV (Item 5.E, October 2026), Howard Financial Services, Ltd. reports these compensation arrangements: a percentage of assets under its management; hourly charges; fixed fees (other than subscription fees).

**Where is Howard Financial Services, Ltd. located?**
Howard Financial Services, Ltd.'s principal office is in Dallas, TX, according to its Form ADV.

**Is Howard Financial Services, Ltd. registered with the SEC or a state?**
Howard Financial Services, Ltd. is an SEC-registered investment advisory firm, registered since 1994. Status as filed: Approved. CRD 107978.

**How much does Howard Financial Services, Ltd. manage?**
Howard Financial Services, Ltd. reports $1,401,802,140 in regulatory assets under management in its Form ADV filing dated August 12, 2026 (100% discretionary).

**How have Howard Financial Services, Ltd.'s assets and staff changed since 2021?**
In the Form ADV data for Howard Financial Services, Ltd.: Regulatory assets under management: $762,596,005 in the October 2021 data and $1,401,802,140 in the October 2026 data, up 84%. Total employees: 18 in October 2021 and 24 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Howard Financial Services, Ltd. serve?**
By number of clients on Form ADV Item 5.D: high net worth individuals (259); individuals (other than high net worth individuals) (151); pooled investment vehicles (other than investment companies and business development companies) (31).

**Which custodians does Howard Financial Services, Ltd. use?**
Howard Financial Services, Ltd.'s most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Charles Schwab & Co., Inc. as a custodian holding 10% or more of its separately managed account assets.

**Does Howard Financial Services, Ltd. report any disciplinary disclosures?**
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/107978

**Does Howard Financial Services, Ltd. state an account minimum?**
Its Form ADV Part 2A brochure dated March 30, 2026 says: "The minimum account size for investment management is $750,000. We have discretion to waive the account minimum."

**What changed in Howard Financial Services, Ltd.'s recent Form ADV filings?**
In the September 2026 filing data: Updated its list of owners and control persons (Schedule A).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Hourly charges
- Fixed fees (other than subscription fees)

### Fees and minimums (Form ADV Part 2A brochure dated March 30, 2026)

- Account minimum: $750,000 (the brochure says it may be waived or negotiated)

> The minimum account size for investment management is $750,000. We have discretion to waive the account minimum.

As stated in the firm's brochure. Fees can differ by service and may be negotiable.

### Custodians (Schedule D, Section 5.K(3))
- Charles Schwab & Co., Inc.

Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.

### Regulatory assets under management (Item 5.F)
- Total: $1,401,802,140
- Discretionary: $1,401,802,140
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 151 | $38,377,020 |
| High net worth individuals | 259 | $1,120,095,014 |
| Pooled investment vehicles (other than investment companies and business development companies) | 31 | $224,190,632 |
| Charitable organizations | 3 | $18,094,724 |
| Corporations or other businesses not listed above | 2 | $1,044,750 |
| Other | 0 | $0 |

### Advisory services (Item 5.G)
- Financial planning services
- Portfolio management for individuals and/or small businesses
- Portfolio management for pooled investment vehicles (other than investment companies)
- Portfolio management for businesses (other than small businesses) or institutional clients
- Selection of other advisers (including private fund managers)

### Firm details
- Registered since: 1994 (32 years)
- Employees: 24 total, 18 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: CA, CO, LA, NC, NY, TX
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- hfs-cp.com
- hfs-wm.com
- howardfs.com
- LinkedIn @howard-financial-services

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $762,596,005 | 18 | May 11, 2021 |
| October 2022 | $979,993,858 | 18 | July 7, 2022 |
| October 2023 | $988,514,935 | 22 | March 30, 2023 |
| October 2024 | $1,281,308,335 | 23 | April 30, 2024 |
| October 2025 | $1,423,796,795 | 24 | March 31, 2025 |
| October 2026 | $1,401,802,140 | 24 | August 12, 2026 |

Regulatory assets under management: $762,596,005 in the October 2021 data and $1,401,802,140 in the October 2026 data, up 84%.
Total employees: 18 in October 2021 and 24 in October 2026.

## Changes in the filing (last 12 months)

### September 2026
- Updated its list of owners and control persons (Schedule A).

### July 2026
- Updated its list of owners and control persons (Schedule A).

### April 2026
- Employees performing advisory functions went from 19 to 18.
- Updated its list of owners and control persons (Schedule A).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Howard Financial Services, Ltd. (CRD 107978): Form ADV filing data as of October 2026.