State BrokerCheck inventory · July 2026

Texas broker-dealer grades

According to FINRA BrokerCheck as of July 2026, Texas ranks #5 of 56 by registered-firm inventory (189) and #6 of 56 by aggregate disclosure load (764), then #14 of 33 on disclosures-per-firm and #19 of 33 on Grade-A share among states with at least 10 firms. Inventory rank is not intensity rank: Missouri leads disclosures-per-firm on that 33-state board.

Compiled by PlainAdvisorCheck

#5
of 56 by firm inventory: 189
registered firms: 764
disclosures on file: 4.0
avg disclosures / firm

Texas at a glance

#5 of 56
registered-firm inventory: #6 of 56
aggregate disclosure load: #14 of 33
disclosures per firm (≥10 firms): #19 of 33
Grade-A share (≥10 firms)

Disclosure-load ordinal matches the /states listing. Missouri leads disclosures-per-firm; Maine leads Grade-A share among states with at least 10 firms. Neither rank is investment advice. See methodology · corpus placement.

Where Texas sits by disclosures per firm

COUNT-derived placement among 33 states and territories with at least 10 graded firms. Lower intensity is cleaner for residents; large multistate HQs can lift a state's average without describing every local office.

Texas vs every ≥10-firm state by disclosures per firm

Size-normalized disclosure intensity · FINRA BrokerCheck extract

4 a lower disclosures-per-firm load than 58% of 33 floor-qualified states

Each bar is a band; taller bars hold more floor-qualified states. The dashed line + filled bar mark this entry. Hover or tap any bar for its full count, share, and where it sits relative to this entry.

Source FINRA BrokerCheck · SEC IAPD · July 2026

Firm-size mix among 189 graded firms

FINRA BrokerCheck size classes in Texas. Segments sum to the graded inventory, a catalog shape, not the A-F grade ChartBar below.

Large 7 firms (4%) Medium 8 firms (4%) Small 174 firms (92%)

189

Registered Firms

110

Clean Record (Grade A)

764

Total Disclosures

4.0

Avg Disclosures / Firm

Grade Distribution

How Texas's 189 graded broker-dealers split across the size-normalized A-F safety scale.

Grade breakdown of 189 graded firms headquartered in Texas

Firms by Disclosure Count

#	Firm	Disclosures	Offices	Grade
1	Charles Schwab & Co., Inc.Westlake	318	1,403	C
2	Hilltop Securities Inc.Dallas	78	87	C
3	Apex Clearing CorporationDallas	57	6	F
4	Sanders Morris LLCHouston	21	5	C
5	Valic Financial Advisors, Inc.Houston	20	450	B
6	Kestra Investment Services, LLCAustin	16	713	B
7	Momentum Independent Network Inc.Dallas	13	131	B
8	Prospera Financial Services, Inc.Dallas	13	171	B
9	CapisDallas	9	14	B
10	Reef Securities, Inc.Richardson	9	2	C
11	First Command Brokerage Services, Inc.Fort Worth	8	250	B
12	Level Four Financial, LLCDallas	8	78	B
13	Natalliance Securities, LLCAustin	8	14	B
14	First Dallas Securities IncorporatedDallas	7	3	C
15	Global Financial Services, L.L.C.Houston	7	3	C
16	Monex Securities, Inc.Houston	7	4	B
17	Cobra Trading, Inc.Carrollton	6	2	C
18	Frost Brokerage Services, Inc.San Antonio	6	45	B
19	GBM International, Inc.Houston	6	2	C
20	Invesco Capital Markets, Inc.Houston	6	7	B
21	Worth Financial Group Inc.Dallas	6	13	B
22	First Western Securities, Inc.Hurst	5	13	B
23	Kershner Securities, LLCAustin	5	2	C
24	Signal Securities, Inc.Fort Worth	5	31	B
25	Texakoma Financial, Inc.Plano	5	2	C
26	TZ Clear LLCDallas	5	2	C
27	Usaa Investment Services CompanySan Antonio	5	92	B
28	Westmoreland Capital CorporationFort Worth	5	3	B
29	Alterna Securities, Inc.Houston	4	3	B
30	Banorte Securities International, Ltd.Houston	4	3	B
31	D.H. Hill Securities, LLLPKingwood	4	16	B
32	Rhodes Securities, Inc.Ft Worth	4	6	B
33	Capital Hill Group, Inc.Austin	3	2	B
34	Invesco Distributors, Inc.Houston	3	35	C
35	Investors Brokerage of Texas, Ltd.Waco	3	3	B
36	M. E. Allison & Co., Inc.San Antonio	3	4	B
37	MDB CapitalAddison	3	2	B
38	Midland Securities, LtdDallas	3	3	B
39	OLD Slip Capital Management, Inc.Plano	3	2	B
40	PH Partners, LLCAustin	3	2	B
41	Share Financial Services, Inc.Addison	3	3	B
42	Tpeg Securities, LLCSouthlake	3	2	B
43	Usca Securities LLCHouston	3	7	B
44	Waterford Capital, Inc.Addison	3	2	B
45	Wilson Parker Connally Stephenson IncFort Worth	3	2	B
46	Commerce Securities CorporationHouston	2	2	B
47	Crescent Securities Group, Inc.Plano	2	7	B
48	Crossmark Distributors, Inc.Houston	2	2	B
49	LEO Brokerage, LLCHurst	2	7	B
50	Municipal Capital Markets Group, Inc.Dallas	2	5	B

Dense registered-firm inventory

Texas in the denser-inventory third

Texas ranks #5 of 56 by BrokerCheck firm count (189 firms) - denser third of the board.

Texas sits in the denser third by registered-firm inventory (#5 of 56, 189 firms) as of July 2026. Graded inventory: 110 A / 66 B / 12 C / 0 D / 1 F (58.2% clean, 0.5% D or F). Heaviest raw book in-state: Charles Schwab & Co., Inc. (318 disclosures across 1,403 offices).

Grades are editorial signals from a size-normalized model, not FINRA ratings. Disclosure totals are reported events, not proven violations - large multistate HQs in Texas can lift statewide totals without describing every local office. This page is informational only and does not constitute financial, legal, or investment advice. Confirm current records at FINRA BrokerCheck.

Frequently asked questions

Where does Texas sit among states by BrokerCheck disclosure load?

Texas is in the heavier third by aggregate disclosure load (#6 of 56, 764 events) while inventory ranks #5 of 56. Aggregate load is not a judgment of regulators or any firm.

How many broker-dealer firms are registered in Texas?

Texas registers 189 BrokerCheck firms (#5 denser-third inventory). 110 (58.2%) hold a clean Grade-A record.

Which Texas broker-dealer has the most FINRA disclosures?

Charles Schwab & Co., Inc. leads Texas's listing with 318 BrokerCheck disclosures across 1,403 offices (Grade C). Totals are reported events, not proven violations - verify on FINRA BrokerCheck.

How should I read Texas's safety grades?

On Texas's heavier-load board, grades stay size-normalized (weighted disclosures ÷ branch footprint within size class). Zero-disclosure firms earn A. Editorial signals only - not FINRA ratings; see methodology.

Is this official Texas broker data?

Yes. Texas's firm rows come from FINRA BrokerCheck and SEC IAPD public registries. PlainAdvisorCheck aggregates and size-normalizes them; underlying records are public domain. This is not financial advice.

All Texas Firms → All States →

Read our methodology - how this data is sourced, computed, and verified.

Data sourced from official FINRA BrokerCheck and SEC EDGAR enforcement records for Texas. Texas ranks #5 by firm inventory and #6 by disclosure load in the PlainAdvisorCheck extract as of July 2026.

Compiled by PlainAdvisorCheck, Independent data publisher