SFMG provides financial planning, portfolio management for individuals and small businesses, portfolio management for institutions, selecting other managers, business succession planning, divorce planning, education planning, estate planning, insurance, philanthropic planning, and tax planning. Financial planning was provided to 1,000 clients last fiscal year. The firm advises 1 private fund.
SFMG reports 982 clients. They include 496 high-net-worth individuals, 472 individual clients, and 11 corporations and other businesses. Of its assets, 90.4% ($2.67B across 3,817 accounts) are managed with discretion; $283M across 506 accounts are not. It advised 6 clients without assets under management last fiscal year.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 48% | 13% |
| High-net-worth individuals | 51% | 87% |
| Pension and profit-sharing plans | <1% | <1% |
| Charitable organizations | <1% | <1% |
| Corporations and other businesses | 1% | <1% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 472 | $373M | 12.6% | $791K |
| High-net-worth individuals | 496 | $2.57B | 86.9% | $5.18M |
| Pension and profit-sharing plans | Fewer than 5 | $143K | 0.0% | $143K |
| Charitable organizations | Fewer than 5 | $1.5M | 0.1% | $750K |
| Corporations and other businesses | 11 | $11.7M | 0.4% | $1.06M |
| Total | 982 | $2.96B | 100% | — |
- Clients
- 472
- Regulatory AUM
- $373M
- AUM share
- 12.6%
- Avg. per client
- $791K
- Clients
- 496
- Regulatory AUM
- $2.57B
- AUM share
- 86.9%
- Avg. per client
- $5.18M
- Clients
- Fewer than 5
- Regulatory AUM
- $143K
- AUM share
- 0.0%
- Avg. per client
- $143K
- Clients
- Fewer than 5
- Regulatory AUM
- $1.5M
- AUM share
- 0.1%
- Avg. per client
- $750K
- Clients
- 11
- Regulatory AUM
- $11.7M
- AUM share
- 0.4%
- Avg. per client
- $1.06M
Total
- Clients
- 982
- Regulatory AUM
- $2.96B
- AUM share
- 100%
- Avg. per client
- —
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 6
- Private funds advised
- 1
- Financial planning clients last fiscal year
- 1000
SFMG charges 0.60%–1.25% a year for its Wealth Management. Each asset band is charged at its own rate. The fee is billed in advance, is negotiable and requires an account of at least $1,000,000. The brochure also prices 2 other services, listed under fee details.
| Asset band | Annual rate |
|---|---|
| $0–$1M | 1.25% |
| $1M–$3M | 0.80% |
| $3M and above | 0.60% |
Fee details and sources
Other fees
- Consultation
- Consultations are charged on an hourly or fixed basis, payable in advance or at completion, with prepaid fees refunded within 30 days of termination.
- Stand-alone financial planning
- Standalone financial planning engagements are negotiated individually; the brochure gives no rate.
Kevin Margolis owns 25% to 50% of SFMG. The leadership team of SFMG includes President Ryan Blair, Chief Investment Officer Christopher Cayet and Chief Compliance Officer Crystal Billing. It has 39 employees, 16 of them in advisory roles.
Leadership
- Ryan BlairPresident & Managing Director
- Crystal BillingChief Compliance
- Christopher CayetChief Investment Officer
- Melissa HawkinsDirector of Operations
- Kevin MargolisCEO, Managing Director
- James NippManaging Director
- Shashin ShahManaging Director
- Craig GreenwayStakeholder
Investment adviser representatives
16 representatives listed in the SEC register as of 9 October 2026.
- Crystal Leigh Billing
- Ryan Jay Blair
- Christopher Garrett Cayet
- Michael C Cowles
- Devin Jenea DeLapp
- David Paul Gamble
- Craig Metz Greenway
- Avery Jack Klatsky
- Kevin Wayne Margolis
- James Taylor Nipp
- Shannon Taylor Pope
- Brett Elliot Rudman
- Shashin Girish Shah
- Tyler James Tenney
- Charles Martin Thomas
- David Wayne White
Staff
- 39 employees
- 16 in advisory functions
- 11 state-registered reps
- 3 soliciting firms
- Owns 25% to 50% of SFMG, LLC.
Kevin Margolis
Control person · since January 2005
- Owns 10% to 25% of SFMG, LLC.
Ryan Blair
Control person · since January 2022
- Owns 10% to 25% of SFMG, LLC.
Shashin Shah
Control person · since July 2019
- Owns 5% to 10% of SFMG, LLC.
Craig Greenway
Control person · since December 2023
- Owns 5% to 10% of SFMG, LLC.
James Nipp
Control person · since July 2020
SFMG’s regulatory assets grew 1.8× from $1.67B (May 2021) to $2.96B (July 2026); clients rose from 853 to 982 and employees from 31 to 39.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| July 2026 | $2.96B | 982 | 39 | 2 |
| April 2025 | $2.52B | 927 | 38 | 1 |
| June 2024 | $2.25B | 886 | 37 | 1 |
| August 2023 | $1.88B | 869 | 36 | 2 |
| July 2022 | $1.98B | 877 | 34 | 2 |
| May 2021 | $1.67B | 853 | 31 | 2 |
Besides its headquarters, SFMG has 1 office, with 2 listed addresses in Texas.
Texas · 2 listed addresses
- 3960 Dallas Parkway, Suite 400, PlanoHQ
- 1221 S. Mopac Expressway, Suite 260, Austin
Contact and registration details
- Legal name
- SFMG, LLC.
- Headquarters
- 3960 Dallas Parkway, Suite 400, Plano, TX 75093
- Website
- sfmg.com
- Phone
- 972-960-6460
- @sfmg-wealth-advisors
- SEC file
- 801-44699
- Founded
- 1992
- Structure
- Texas LLC
- Fiscal year end
- December
SFMG uses Charles Schwab ($2.07B, 79%) and Fidelity ($563M, 21%) as custodians for its separately managed accounts. SFMG has custody of $1.03B in client assets for 507 clients.
- Charles SchwabCharles Schwab & Co., Inc. · San Francisco, CA · $2.07B79%
- FidelityFidelity Distributors Company LLC · Smithfield, RI · $563M21%
At year end, SFMG’s separately managed accounts were mostly in funds (63%) and stocks (25%). Its reported 13F holdings for the quarter ended 30 June 2026 total $1.66B across 344 positions; the largest are Atmos Energy Corp. (11.0%), Pacer Fds TR (9.3%) and Invesco Exchange Traded FD T (9.3%).
What the accounts hold
- Stocks25%
- Funds63%
- Registered funds52%
- Pooled vehicles11%
- Bonds3%
- State and local bonds2%
- U.S. government and agency bonds1%
- Cash9%
Reported 13F holdings
- $1.66B
- Reported 13F value
- 344
- Positions
- 59.4%
- In the 10 largest
- +12.4%
- Value vs. prior quarter
- Atmos Energy Corp.11.0%
- Pacer Fds TR · Trendp US Lar CP9.3%
- Invesco Exchange Traded FD T · S&P500 Quality9.3%
- Goldman Sachs ETF TR · Activebeta US LG7.4%
- SPDR Series Trust · ST Str MSCI Usaq6.3%
- Vaneck ETF Trust · Mrngstr Wde Moat4.3%
- Apple Inc.4.0%
- Berkshire Hathaway Inc. Del · CL B New3.3%
- iShares TR · Core S&P500 ETF2.3%
- Applied Matls Inc.2.2%
Together, the ten largest are 59.4% of reported value.
How many clients does SFMG have?
SFMG has 982 clients and manages $2.96 billion for them, as of July 2026. They include 496 high-net-worth individuals, 472 individual clients, and 11 corporations and other businesses.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 24 July 2026
What services does SFMG offer?
SFMG provides financial planning, portfolio management for individuals and small businesses, portfolio management for institutions, selecting other managers, business succession planning, divorce planning, education planning, estate planning, insurance, philanthropic planning, and tax planning.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file; Part 2A brochure, Item 4
How much does SFMG charge?
SFMG charges 0.60%–1.25% a year for its Wealth Management. Each asset band is charged at its own rate. The fee is billed in advance, is negotiable and requires an account of at least $1,000,000.
Which custodians does SFMG use?
SFMG’s separately managed account assets are held at Charles Schwab & Co., Inc. (San Francisco, CA), with $2.07B and Fidelity Distributors Company LLC (Smithfield, RI), with $563M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 24 July 2026
How many financial advisors does SFMG have?
SFMG has 11 investment adviser representatives registered with state securities authorities, out of 39 employees, and 16 perform investment advisory functions. None are registered representatives of a broker-dealer or licensed insurance agents.
Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file
What does SFMG invest in?
At the end of its last fiscal year, SFMG’s separately managed accounts held 52% registered funds (mutual funds, ETFs, BDCs), 25% exchange-traded equities, 11% pooled vehicles (private funds and similar), 9% cash and equivalents, 2% state and local bonds and 1% U.S. government and agency bonds. It advises 1 private fund.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Does SFMG have a minimum investment?
Yes, SFMG’s minimum account size for its Wealth Management is $1M.
Who owns SFMG?
SFMG’s direct owners are Craig Greenway, Kevin Margolis, Ryan Blair, James Nipp and Shashin Shah, each holding 50% or less.
Source: Form ADV Part 1A, Schedules A and B, filed 24 July 2026
How does SFMG get paid?
SFMG is paid through a percentage of assets under management and fixed fees. Its Form ADV lists no commissions or performance-based fees among how it is paid.
Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file
Is SFMG registered with the SEC?
Yes, SFMG has been registered with the SEC as an investment adviser since 11 August 1993. Its CRD number is 107548 and its SEC file number is 801-44699.
Source: Form ADV Part 1A, Item 1, filed 24 July 2026; IAPD firm record
How do I contact SFMG?
SFMG’s main office is at 3960 Dallas Parkway, Suite 400, Plano, TX 75093. Its phone number is 972-960-6460. Its website is sfmg.com.