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RIA Intel State Report

Texas RIA Landscape — 2025

A data-driven overview of SEC-registered wealth advisory firms headquartered in Texas, including growth trends, succession risk analysis, and M&A opportunity signals.

Source: SEC Form ADV · Updated Q4 2024
Total Firms
1,309
Total AUM?
$1.48T
Median AUM
$200M
13F Filers
202
AUM Tier Distribution
Under $100M207
$100M–$500M653
$500M–$1B200
$1B–$5B202
$5B+47
State Snapshot
Total Firms1,309
Total AUM$1.48T
Median AUM$200M
13F Filers202
High Succession Risk113
Elevated Succession Risk109
Succession Risk Breakdown
High
102 firms (10%)
Elevated
100 firms (10%)
Moderate
226 firms (23%)
Lower
572 firms (57%)
Growth Leaders — Wealth Advisory Firms
FirmCityAUM3Y CAGRSuccession
CAPITAL TACTICS ADVISORS, LLCDALLAS$147M+146.2%Moderate
KESTRA INVESTMENT MANAGEMENT, LLC.AUSTIN$2.6B+142.9%Lower
SILVER HILL ENERGY PARTNERS, LPDALLAS$2.3B+127.6%Lower
WHITESTAR ASSET MANAGEMENT LLCDALLAS$2.1B+125.0%Lower
KA CREDIT ADVISORS, LLCHOUSTON$2.1B+124.4%Lower
HINES CAPITAL ADVISORS LLCHOUSTON$4.4B+98.8%Lower
SUMMIT HOUSE CAPITAL MANAGEMENT, LLCDALLAS$382M+89.2%Lower
THOMIST CAPITAL MANAGEMENT, LPHOUSTON$534M+89.1%Lower
M&A Opportunity Signals
🎯
206Acquisition candidates
Firms with elevated/high succession risk and AUM $100M–$5B
📈
89Growing but vulnerable
Positive 3Y CAGR with high succession risk — attractive for acquirers
📉
36Mid-market shrinking
AUM $100M–$1B with negative 3Y CAGR and elevated+ succession risk
🔒 Top 25 Acquisition Targets — Ranked by Composite Score
RankFirmAUMScore
1LOGIC CAPITAL MANAGEMENT, LLC$381M52.8
2PENN DAVIS MCFARLAND INC$1.3B49.1
3ROBERT HARRELL INCORPORATED$959M46.2
4ISLAY CAPITAL MANAGEMENT, LLC$358M45.5
5ASSET PRESERVATION GROUP INC$280M45.5
6SCOTT & SELBER, INC. CAPITAL MANAGEMENT$569M45.4
🔒

Acquisition Target Rankings

Full ranked list of 25 acquisition targets with composite scores based on succession risk, growth trajectory, and peer benchmarking.

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Methodology. This report covers SEC-registered investment advisers classified as wealth advisory firms (filter: is_wealth_advisory = true) headquartered in Texas. AUM figures are drawn from the most recent Form ADV filing. Succession risk tiers are computed using a proprietary 5-pillar model incorporating founder tenure, ownership concentration, AUM dependency, team depth, and filing recency. Growth CAGR is calculated from the three most recent annual filings where available. Acquisition scores blend succession risk (40%), AUM growth trajectory (35%), and national peer rank (25%). Data sourced from SEC EDGAR. This page is for informational purposes only and does not constitute investment advice.