First Dallas Securities, Inc. logo

First Dallas Securities, Inc.

Updated today

Client AUM

$285,996,365

Clients

253

Advisors

7

of 20 employees

About

First Dallas Securities, Inc. serves individual and high‑net‑worth clients as well as institutional clients (including trusts, estates, retirement plans and, unusually for firms of this size, banking or thrift institutions) through discretionary portfolio management and related advisory communications. The firm reports approximately $335.7 million in discretionary assets under management, nine advisors, and about 253 client relationships, and provides ongoing monitoring and account reviews for client accounts.

The firm’s investment approach emphasizes domestic equity securities—including small‑to‑mid cap and focused/concentrated strategies—and combines fundamental and technical analysis to make allocation and security‑selection decisions. Investment adviser representatives manage client accounts on a discretionary basis, use research provided by an affiliated research function, and may operate independently in trade timing across client accounts.

First Dallas Securities is dual‑registered as a broker‑dealer and an SEC‑registered investment adviser and, unlike most peers, provides advisory services on a commission‑based model rather than charging a percentage‑of‑AUM fee; it also discloses affiliations with Hodges Capital Management and ownership ties to Hodges Capital Holdings and routinely invests advisory assets in Hodges mutual funds for which affiliated entities receive 12b‑1 payments. The brochure discloses a 2017 FINRA sanction related to improperly charging ticket charges, and the firm notes the related conflicts of interest inherent in its commission and affiliate arrangements and the procedures it uses to monitor those conflicts.

Client services

Portfolio management

Expertise

Active portfolio management

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Fee options

Fixed

Ticket charge per trade is $13.95 ($10 ticket charge plus $3.95 transaction fee). A $50 flat fee applies for equity trades valued between $0 and $999, plus 0% commission.

Percentage

$0 - $999: $50 flat fee plus 0.00% commission on principal trade value $1,000 - $2,499: $50 flat fee plus commission rate (details truncated)

Commissions

Commission-based compensation with commissions, transaction charges, 12b-1 or other mutual fund fees, and other customary brokerage charges imposed on transactions. Specific commission schedules vary by security type (stocks, bonds, options) and are detailed in Appendix A. For mutual funds, sales loads and 12b-1 fees apply as per fund prospectus. Ticket charge per trade is $13.95 ($10 ticket charge plus $3.95 transaction fee). Also receives 12b-1 fees aggregating 0.25% on Hodges Mutual Fund shares purchased.

Other

Account minimum: $100,000

Main office

2905 Maple Ave.

Dallas TX 75201

Advisors at this office

7

Most active in

Arizona · Arkansas · California · Colorado · Florida · Georgia · Louisiana · Nebraska · North Carolina · Oklahoma · Texas

Also doing business as

First Dallas Securities Incorporated · First Dallas Securities, Inc.

Disclosures

Exclamation point means they have disclosures of this type. Check mark means no disclosures of this type were found.

Business activities & affiliations

Advisors at this firm

user avatar

Robert W

Series 63, Series 65

Dallas, TX

First Dallas Securities Incorporated

Robert Woodard is a financial advisor at First Dallas Securities Incorporated with 42 years of industry experience. He holds Series 63 and Series 65 licenses and has worked at First Dallas Securities since 1990 and Hodges Capital Management Inc. since 1999. First Dallas Securities serves individual, high-net-worth, and institutional clients, including trusts, estates, retirement plans, and banking institutions. The firm manages approximately $335.7 million in discretionary assets, focusing on domestic equity securities through a combination of fundamental and technical analysis.

Active portfolio management
user avatar

Lee B

Series 66

Dallas, TX

First Dallas Securities Incorporated

Lee Bradshaw is a Series 66-licensed financial advisor with nine years of industry experience. He has worked at Hodges Capital Management and First Dallas Securities Incorporated since 2017. Bradshaw has also held a position at Texas State University. First Dallas Securities serves individual and high-net-worth clients as well as institutional clients, including trusts, estates, retirement plans, and banking institutions. The firm focuses on discretionary portfolio management with an investment approach centered on domestic equity securities, combining fundamental and technical analysis for allocation and security-selection decisions.

Active portfolio management
user avatar

Carlos E

CFA®, Series 66

Dallas, TX

First Dallas Securities Incorporated

Carlos Esteve is a CFA® charterholder with four years of industry experience, currently affiliated with First Dallas Securities Incorporated. His prior roles include positions at Hodges Capital Management Inc. and The Vanguard Group, Inc. He has also worked in financial and legal settings, including Burton, McCumber & Longoria, LLP, and has experience in academic institutions. First Dallas Securities serves individual, high-net-worth, and institutional clients with discretionary portfolio management, emphasizing domestic equity securities through a combination of fundamental and technical analysis. The firm manages approximately $335.7 million in discretionary assets and provides advisory services on a commission-based model.

Active portfolio management
user avatar

Callan H

Series 66

Dallas, TX

First Dallas Securities Incorporated

Callan Hirschey is a financial advisor at First Dallas Securities Incorporated with one year of industry experience. He holds a Series 66 designation and has worked at Hodges Capital Management and Equitable Advisors, LLC. First Dallas Securities serves individual, high-net-worth, and institutional clients, providing discretionary portfolio management and ongoing account monitoring. The firm emphasizes domestic equity securities with a blend of fundamental and technical analysis and operates on a commission-based advisory model.

Active portfolio management
user avatar

Craig H

Series 63, Series 65

Dallas, TX

First Dallas Securities Incorporated

Craig Hodges is a financial advisor with First Dallas Securities Incorporated and holds Series 63 and Series 65 credentials. He has 39 years of industry experience, including 37 years with First Dallas Securities and 28 years running Hodges Capital Management Inc. Hodges serves on the board of a privately held technology company and participates in local nonprofit organizations including the YMCA of Metropolitan Dallas Investment Foundation Committee and the North Texas Crime Commission. First Dallas Securities serves individual, high-net-worth, and institutional clients through discretionary portfolio management and related advisory services. The firm emphasizes domestic equity securities and employs a combination of fundamental and technical analysis to guide investment decisions.

Active portfolio management
user avatar

Charmagne D

Series 66

Dallas, TX

First Dallas Securities Incorporated

Charmagne Darabadey is a financial advisor with First Dallas Securities Incorporated, holding a Series 66 designation and seven years of industry experience. She worked at Envestnet Inc. from 2014 to 2018 before joining First Dallas Securities, where she has been since 2018. Outside of her advisory role, she is involved with Tinderwealth, a startup focused on developing an app that connects advisors with clients and facilitates account openings and portfolio investments. First Dallas Securities serves individual, high-net-worth, and institutional clients, including trusts, estates, retirement plans, and banking institutions, through discretionary portfolio management. The firm emphasizes domestic equity securities with a blend of fundamental and technical analysis and manages approximately $335.7 million in discretionary assets across 253 client relationships.

Active portfolio management
user avatar

Gary B

Series 63, Series 65

Dallas, TX

First Dallas Securities Incorporated

Gary Bradshaw is a financial advisor with First Dallas Securities Incorporated in Dallas, TX, holding Series 63 and Series 65 credentials and over 41 years of industry experience. He has worked with Hodges Capital Management Inc. since 2001 and with First Dallas Securities since 1990. Outside of his advisory role, he is an owner of a cattle ranch in Cayuga, TX, and serves on the board of the Soaring Eagle Center, a nonprofit organization in DeSoto, TX. First Dallas Securities serves individual, high-net-worth, and institutional clients through discretionary portfolio management, emphasizing domestic equity securities with small- to mid-cap and focused strategies. The firm employs a commission-based advisory model and integrates both fundamental and technical analysis in its investment approach.

Active portfolio management
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