Father-and-son advisers wounded in Dallas office shooting

Father-and-son advisers wounded in Dallas office shooting
Richard Smith and son R. Chris Smith — reps at Smith Financial in Dallas — apparently had an ongoing dispute with the suspect, who also turned the gun on himself and is in critical condition.
MAR 12, 2010
A gunman apparently angry over business dealings wounded a father and son at their financial services company inside an office building Monday, then shot himself as police closed in, authorities said. The gunfire at about 10:30 a.m. created a frightening, grisly scene at the 15-story building, with one of the injured men making his way down an escalator with blood gushing from his neck and scared bank employees and customers locking themselves in vaults. After the two men were shot, the suspect apparently turned the gun on himself as three officers were coming down the hall toward the third-floor suite, said Dallas police spokesman Sr. Cpl. Kevin Janse. The suspect was in critical condition Monday. "He's in the doorway of the suite, they hear a gunshot literally a few feet in front of them, and they're afraid he's going to step into the hallway and pop off another round, so one officer shoots into the doorway," Janse said. The officer's bullet did not hit the gunman, Janse said. The gunman and the victims, 66-year-old Richard Smith and 39-year-old R. Chris Smith, apparently had an ongoing dispute, Janse said. But it was not clear exactly why the suspect opened fire inside the offices of Smith Financial in northern Dallas. "The suspect is believed to be a past client that was unhappy over some business dealings," Janse said. Richard Smith was shot in the legs, and his son was shot in the neck. Both were in stable condition. Witnesses who saw the younger Smith coming down the escalator into the building lobby said blood was gushing from both sides of his neck as he and pleaded for help. "He was screaming and crying," said Abraham Achar, who was visiting his friend at the United Texas Bank on the first floor. "He said, 'He shot my dad.'" Becky Hayes, who works in a first-floor office near the security desk, said she recognized the younger Smith because he sometimes ate lunch in the building cafeteria. She said she persuaded him to sit in a chair until help arrived. "He kept telling me: 'Stop the bleeding. Stop the bleeding,'" Hayes said. "I was just trying to keep him calm." During the shootings, about 16 people took refuge in vaults in the bank. "The building has announced we should stay in here until they let us know otherwise," bank employee Linda Farley told WFAA-TV of Dallas and Fort Worth by telephone from the vault. "Everybody is a little scared." Police declined to immediately release more details about the gunman.

Latest News

Cerulli: Advisors struggle to turn 401(k) savers into wealth clients
Cerulli: Advisors struggle to turn 401(k) savers into wealth clients

Just over 10% of advisors' wealth clients come from defined contribution plans, as capacity, data and technology gaps block the bridge to wealth

Alto to buy Forge Trust from Schwab in self-directed IRA push
Alto to buy Forge Trust from Schwab in self-directed IRA push

Deal creates a $20B-plus custody platform for private market investing in IRAs, months after Schwab closed its Forge Global purchase

Wall Street bonanza! The Street on track to hit a record $90 billion in profits: Report
Wall Street bonanza! The Street on track to hit a record $90 billion in profits: Report

Despite the good times, advisors should tread carefully, said one veteran industry executive.

Aspen Standard Wealth buys $1B Louisiana RIA Cullen Investment Group
Aspen Standard Wealth buys $1B Louisiana RIA Cullen Investment Group

Cullen marks the fourth firm the New York-based RIA aggregator has bought in 2026 as deal volume heads for a record year.

Strategy before technology: Establishing the foundation for measurable AI value
Strategy before technology: Establishing the foundation for measurable AI value

The quality of AI ROI measurement depends on pre-deployment decisions around business outcomes, leadership alignment, and establishing trusted information, among other factors.

SPONSORED Built on insurance experience to deliver on long-term promises

Knighthead Life entered the market with a competitive MYGA. A strong launch earned advisor confidence and paved the way for FIAs.

SPONSORED In the Age of AI, Trust Becomes the Advisor's Greatest Asset

As AI makes financial information more accessible than ever, Lana Hock explains why human judgment, trust, and empathy remain the qualities clients value most in a financial advisor