AdvisorCensus / Financial advisors / Texas / Dallas / Penn Davis McFarland Inc
Penn Davis McFarland Inc is an SEC-registered investment advisory firm in Dallas, TX, registered since 1977, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated March 12, 2026.
Quick answers
From the filingHow is Penn Davis McFarland Inc compensated?
On its Form ADV (Item 5.E, October 2026), Penn Davis McFarland Inc reports these compensation arrangements: a percentage of assets under its management.
How much does Penn Davis McFarland Inc charge?
Its Form ADV Part 2A brochure dated March 12, 2026 states: Up to $1,000,000: 1.25% a year; $1,000,000 to $4,000,000: 1% a year; $4,000,000 to $10,000,000: 0.75% a year; Above $10,000,000: 0.5% a year; Subscription: $1,250 to $12,500 a quarter (non-advisory family office services). Fees can differ by service and may be negotiable; the brochure is the complete statement.
Where is Penn Davis McFarland Inc located?
Penn Davis McFarland Inc's principal office is in Dallas, TX, according to its Form ADV.
Is Penn Davis McFarland Inc registered with the SEC or a state?
Penn Davis McFarland Inc is an SEC-registered investment advisory firm, registered since 1977. Status as filed: Approved. CRD 110417.
How much does Penn Davis McFarland Inc manage?
Penn Davis McFarland Inc reports $1,364,461,821 in regulatory assets under management in its Form ADV filing dated March 12, 2026 (100% discretionary).
How have Penn Davis McFarland Inc's assets and staff changed since 2021?
In the Form ADV data for Penn Davis McFarland Inc: Regulatory assets under management: $596,397,559 in the October 2021 data and $1,364,461,821 in the October 2026 data, up 129%. Total employees: 8 in October 2021 and 10 in October 2026. Assets under management move with markets as well as with clients coming and going.
What types of clients does Penn Davis McFarland Inc serve?
By number of clients on Form ADV Item 5.D: high net worth individuals (193); individuals (other than high net worth individuals) (18).
Which custodians does Penn Davis McFarland Inc use?
Penn Davis McFarland Inc's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Bank of America / Private Bank, Charles Schwab & Co. and Frost Bank as custodians holding 10% or more of its separately managed account assets.
Does Penn Davis McFarland Inc 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/110417
What changed in Penn Davis McFarland Inc's recent Form ADV filings?
In the April 2026 filing data: No longer lists an office in Deerfield Beach, FL.
From the Form ADV filing
Every figure below is as the firm filed it with regulators, as of October 2026.
How the firm is compensated
Item 5.E- A percentage of assets under your management
Item 5.E lists how the firm is compensated for its advice; Items 5.B, 6.A, and 7.A show whether its people or related companies can also earn commissions. Percentage of assets, fixed, hourly, subscription, and performance-based fees come from clients (a performance-based fee depends on investment results); commissions come with a sale or a trade, often from the company behind the product. How fees, commissions, and other arrangements differ
Fees and minimums
Form ADV Part 2A| Assets | Annual rate |
|---|---|
| Up to $1,000,000 | 1.25% |
| $1,000,000 to $4,000,000 | 1% |
| $4,000,000 to $10,000,000 | 0.75% |
| Above $10,000,000 | 0.5% |
The brochure's wording
One and one -quarter percent (1.25%) of the first $1,000,000 of assets under management;
One percent (1.00%) of assets from $1,000,000 to $4,000,000;
Three quarters of one percent (0.75%) of assets from $4,000,000 to $10,000,000;
One-half of one percent (0.50%) on assets $10,000,000 and above.
Subscription: $1,250 to $12,500 a quarter (non-advisory family office services)
The brochure's wording
Our fees for non-advisory family office services are negotiated individually with clients and range from $1,250 to $12,500 a quarter depending on the amount of work performed.
As stated in the firm's Form ADV Part 2A brochure dated March 12, 2026. Fees can differ by service and may be negotiable; the brochure is the complete statement. Read the brochure on the SEC's IAPD site
Regulatory assets under management
Item 5.F$1,364,461,821 as of October 2026, filing dated March 12, 2026.
A measure of scale, not skill or returns. Discretionary means the firm decides trades; non-discretionary means clients approve each one. What assets under management means
Who the firm serves
Item 5.DA firm with no individual clients is an institutional manager even if it manages billions; the mix tells you whom the practice is built around.
Advisory services
Item 5.G- Financial planning services
- Portfolio management for individuals and/or small businesses
- Portfolio management for businesses (other than small businesses) or institutional clients
Registration and firm details
Items 1, 2, 5- Registration
- SEC-registered investment adviser. Status as filed: Approved.
- Registered since
- 1977 (49 years)
- Employees
- Total: 10. Performing investment advisory functions: 7.
- Wrap fee program participation
- No.
- Custodians (Schedule D, Section 5.K(3))
-
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.
- States registered or notice-filed
-
6 states or jurisdictions
SEC-registered investment advisers are examined by the SEC. SEC, state, and exempt registration
Disclosures
Item 11None Reports no disclosure items on Form ADV Item 11. View on IAPD.
Item 11 asks about criminal, regulatory, and civil events involving the firm and its advisory personnel. The detail of each yes answer is on the IAPD record. Reading a firm's disclosures
Assets and staff over time
Items 5.A, 5.F| Data period | Assets under management | Employees | Filing dated |
|---|---|---|---|
| October 2026 | $1,364,461,821 | 10 | March 12, 2026 |
| October 2025 | $1,261,852,927 | 11 | April 16, 2025 |
| October 2024 | $843,202,523 | 9 | March 5, 2024 |
| October 2023 | $698,132,126 | 8 | March 1, 2023 |
| October 2022 | $716,135,639 | 8 | April 22, 2022 |
| October 2021 | $596,397,559 | 8 | April 1, 2021 |
Regulatory assets under management: $596,397,559 in the October 2021 data and $1,364,461,821 in the October 2026 data, up 129%.
Total employees: 8 in October 2021 and 10 in October 2026.
As filed in each year's data for the same month. Assets under management move with markets as well as with clients coming and going; they measure scale, not skill or returns. Most firms update these figures once a year.
Changes in the filing
Last 12 months- April 2026
- No longer lists an office in Deerfield Beach, FL.
Compared month to month from the SEC's monthly adviser data and the state compilation feed. Owners and control persons are summarized, never named.
Websites listed on Form ADV
Item 1.ISource: Form ADV, as of October 2026. Values appear as filed; a value the firm did not report is shown as "Not reported."
Cite this page
AdvisorCensus. Penn Davis McFarland Inc (CRD 110417): Form ADV filing data as of October 2026. https://advisorcensus.com/firm/penn-davis-mcfarland-inc-dallas-tx-110417