Realized Financial

What Realized Financial does

Realized Financial, Inc. (formerly Thornhill Securities, Inc.) is a privately held boutique broker-dealer and registered investment adviser founded in 1988 and headquartered at 500 W 13th Street in Austin, Texas. The firm is registered with FINRA and SIPC, is registered as an Investment Adviser in the State of Texas, and holds broker-dealer licensing in all 50 U.S. states. It maintains a headcount of 1-10 employees and operates through registered representatives and investment adviser representatives distributed across the states in which they are properly registered.

The company serves accredited investors and investment property owners seeking tax-efficient real estate investment solutions, with a deliberately limited product offering focused on real estate private placements and Delaware Statutory Trust (DST) products used for 1031 exchanges and commercial real estate diversification. The firm differentiates through a self-described "robust due diligence and investment product screening process" and a broad range of real estate and DST products drawn from multiple product sponsors. Distribution is sales-led and executed through registered representatives rather than consumer-facing marketing, with FINRA BrokerCheck serving as the primary public verification channel.

Realized Financial generates revenue from three streams: traditional broker-dealer commissions on securities transactions, investment advisory fees from registered investment adviser services, and marketing reallowances from product sponsors ranging from 93 basis points to 175 basis points for promoting real estate investment products. The firm has no disclosed parent company, no funding rounds, no public valuation, and no disclosed management team in the source materials. A 2026 news reference identifies Realized Financial as one of five broker-dealers that sold Inspired Healthcare Capital private placements and DSTs, contributing to $1.2 billion in total securities issued across the selling group since 2016.

Name

Realized Financial

Legal name

Realized Financial, Inc.

Website

https://realizedfinancial.com

Company type

Private

Founded year

1988

Operating status

Operating

Headcount range

1–10 employees

Short description

Realized Financial is a privately held, FINRA-registered boutique broker-dealer and investment adviser based in Austin, Texas, founded in 1988, serving accredited investors and investment property owners across all 50 U.S. states with a limited product offering of real estate private placements and Delaware Statutory Trusts for tax-efficient exchanges.

Ownership category

akta.pro rank

Product category

Broker-Dealer and Investment Advisory Services

NAICS

Investment Banking and Securities Intermediation (523150)

SIC

Security Brokers, Dealers & Flotation Companies (6211), Investment Advice (6282)

akta.pro primary industry

Real Estate Capital Markets Advisory (Debt/Equity Placement, Refinancing) (BPAJANAE)

akta.pro secondary industry

Real Estate Investment Advisory (Acquisitions/Dispositions, Capital Allocation) (BPAJANAA)

Keywords

• Broker-dealer services
• Investment advisory
• Real estate private placements
• Delaware Statutory Trusts
• 1031 exchange solutions

Headquarters

HQ city

Austin

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Broker-Dealer Commissions: Traditional brokerage commissions from securities transactions executed for clients.
2. Advisory Fees: Investment advisory fees from registered investment adviser services.
3. Marketing Reallowances: Revenue received from product sponsors ranging from 93 bps to 175 bps for promoting their real estate investment products.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

Realized Financial is a boutique broker-dealer and registered investment adviser that provides securities execution, investment advisory services, and access to real estate private placements, Delaware Statutory Trust (DST) products, and commercial real estate investments for accredited investors pursuing tax-efficient exchange strategies such as 1031 exchanges.

Product overview

Realized Financial is a boutique broker-dealer and registered investment adviser founded in 1988 (formerly Thornhill Securities, Inc.) that provides a customized platform of resources to accredited investors seeking tax-efficient real estate investments. The firm offers a coordinated suite of services including broker-dealer services, investment advisory services, and access to commercial real estate investment products and Delaware Statutory Trust (DST) products for 1031 exchanges. The company maintains a limited product offering focused specifically on real estate private placements, supported by a robust due diligence and investment product screening process.

Differentiator

Problem solved

Functional benefit

Products and services

• Broker-Dealer Services Boutique broker-dealer services supporting investment property owners, including execution of securities transactions related to real estate private placements and DST products. Licensed in all 50 states with registered representatives serving clients where properly registered.
• Investment Advisory Services Registered investment adviser services offering guidance on real estate investments, wealth management strategies, and customized recommendations for accredited investors pursuing tax-efficient real estate exchanges.
• Delaware Statutory Trust (DST) Products Tax-efficient real estate exchange solutions through Delaware Statutory Trusts, allowing accredited investors to exchange into diversified fractional real estate interests as part of 1031 exchange strategies.
• Commercial Real Estate Investment Products Access to commercial real estate investment offerings provided to accredited investors for portfolio diversification through real estate, including direct property investments distributed via registered representatives.
• Real Estate Private Placements Limited offering of privately placed real estate securities distributed to accredited investors, supported by product sponsor marketing reallowances of 93 to 175 basis points.

Segments2 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Product SponsorscoreOthersRealized Financial receives marketing reallowances from product sponsors ranging from 93 bps to 175 bps. These sponsors provide real estate investment products that Realized Financial offers to its clients through its limited product offering of real estate private placements.

Scale indicators3 records

Recent moves4 records

Expansion highlights2 records

Direct peers

• DFPG Investments: DFPG Investments is an independent broker-dealer and RIA that focuses on alternative investments including real estate private placements and DSTs, serving a comparable advisor and accredited-investor base with similar fee structures.
• Lightstone Capital: Lightstone Securities is a broker-dealer affiliated with The Lightstone Group that places real estate private placements and DSTs with accredited investors, overlapping Realized Financial's product focus and distribution approach.
• Bluerock Capital Markets: Bluerock Capital Markets is an SEC-registered broker-dealer specializing in real estate securities, DSTs, and 1031 exchange private placements — directly competing for sponsor relationships and accredited-investor capital in the same niche as Realized Financial.
• AEI Capital Corporation: AEI Capital sponsors and distributes tax-deferred real estate investment programs (including DSTs and tenant-in-common structures) used in 1031 exchanges, making it both a competitor for placement volume and a potential product-sponsor partner for boutique broker-dealers like Realized Financial.
• Preferred Capital Securities: Preferred Capital Securities is a private broker-dealer focused on private placements and alternative investments for registered representatives — a direct competitor for sponsor mandates and advisor relationships.
• CFX Securities: CFX Securities is a boutique broker-dealer that supports sponsors of alternative investments including real estate offerings, competing in the same limited-product, sponsor-driven placement category as Realized Financial.
• Inland Securities: Inland Securities is the broker-dealer affiliated with Inland Real Estate Investment Corporation that specializes in distributing Delaware Statutory Trusts and 1031 exchange private placements to financial advisors and accredited investors — directly mirroring Realized Financial's core product shelf and distribution model.

Broad incumbents

• Cetera Financial Group: Cetera is a major independent broker-dealer and RIA network that distributes alts and real estate offerings across its independent-advisor base, representing a scaled alternative to boutique BD/RIA specialists like Realized Financial.
• LPL Financial: LPL Financial is the largest independent broker-dealer in the US, providing broker-dealer and RIA infrastructure for thousands of advisors — a broad incumbent against which Realized Financial competes for product sponsors seeking scaled distribution of real estate private placements and DSTs.
• Kestra Financial: Kestra Financial is an independent broker-dealer and RIA platform that supports advisors in distributing private placements and alternative investments, providing broader incumbent competition to boutique real estate-focused broker-dealers.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights5 records

Customer concentration

• LinkedInlinkedin.com/company/realized-financial-inc

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Realized Financial