First Dallas Securities manages investment portfolios for individuals, families, trusts, and other organizations. The firm builds customized portfolios, focusing primarily on domestic stocks and equities, and uses both fundamental and technical analysis to make investment decisions. Instead of charging a traditional annual fee based on the total value of your portfolio, First Dallas Securities is compensated through commissions and transaction charges when trades are placed in your account. Accounts are managed by assigned representatives who have the authority to make trades without asking first. The firm has a minimum account size of $100,000 to get started, though exceptions can be made. First Dallas Securities is affiliated with Hodges Capital Management, and client accounts may sometimes be invested in mutual funds managed by that affiliate.
Fee Structure
First Dallas Securities does not charge a traditional annual fee based on the total value of your portfolio. Instead, the firm is compensated through commissions and transaction fees each time a trade is made in your account.
Key details about the commission and fee structure include:
- Stock trades — Commissions vary based on the trade amount, charging a percentage rate plus a flat fee (for example, trades of $50,000 to $99,999 are charged 0.70% plus a $200 flat fee).
- Option trades — Commissions include a percentage of the principal, a per-contract charge, and a flat fee.
- Bond trades — Commissions include a flat fee per bond plus a component based on the security type.
- Mutual funds — If you purchase mutual funds with a sales charge, that commission is paid directly to the firm. The firm may also receive ongoing distribution or administrative fees (known as 12b-1 fees) from certain mutual funds.
- Trade ticket charges — A $13.95 ticket charge (consisting of a $10 ticket charge and a $3.95 transaction fee) applies to trades.