Independent broker-dealer exits: March 2010-present

Based on InvestmentNews reports

Feb 28, 2011 @ 1:05 pm

Firm (click to read full story) Main office Date firm terminated or withdrew Finra registration Estimated # of reps Years in business
Provident Asset Management LLC Texas March 2010 50 2
GunnAllen Financial Inc. Florida April 2010 400 24
Private Asset Group Inc. California April 2010 N/A 4
AFA Financial Group LLC California April 2010 100 7
Nationwide Securities LLC Ohio April 2010 200 3
MICG Investment Management LLC Virginia May 2010 40 10
Cullum & Burks Securities Inc. Texas May 2010 100 12
Okoboji Financial Services Inc. Iowa May 2010 20 22
Jesup & Lamont New York June 2010 300 15
Chicago Investment Group Illinois July 2010 90 8
Great American Advisors Inc. Ohio July 2010 500 17
United Equity Securities LLC Texas Aug. 2010 60 16
Brewer Financial Services Inc. Illinois Oct. 2010 87 6
Matheson Securities LLC Florida Jan. 2011 N/A 6
QA3 Financial Corp. Nebraska Feb. 2011 400 30
Securities Network LLC Georgia March 2011 N/A 7
Omni Brokerage Inc. Utah April 2011 50 26
Harrison Douglas Inc. Colorado May 2011 N/A 15
WFP Securities Corp. California May 2011 N/A 24
Meadowbrook Securities LLC (Investlinc Securities LLC) Mississippi June 2011 N/A 10
CapWest Securities Inc. Colorado July 2011 50 20
Boogie Investment Group Inc. Florida Sept. 2011 N/A 6
Workman Securities Corp. Minnesota Oct. 2011 100 21
Ensemble Financial Services Inc.1 New York December 2011 85 N/A
Pacific West Securities Inc. Washington March 2012 290 40
Brookstone Securities Inc. Florida June 2012 198 7
Milkie/Ferguson Investments Inc. Texas July 2012 40 26
DeWaay Financial Network LLC Iowa Nov. 2012 2 N/A 6
N/A = not available. 1Only B-D operations will be shuttered. RIA unit will remain open. 2Termination requested. This list includes the most notable independent-broker-dealer exits as of November 2012. InvestmentNews acknowledges that it is not possible to include all shuttered firms. Sources: Finra BrokerCheck, InvestmentNews and other published reports

Featured video

Events

Behind the scenes at Pershing Insite 2018

What goes on behind the scenes at one of the industry's biggest conferences? Join us for an all-access sneak peek!

Latest news & opinion

Advisor Group acquires Signator Investors and plans on folding it into Royal Alliance

Advisor Group takes 'orphan' broker-dealer off the hands of John Hancock Financial Services.

It's official: DOL fiduciary rule is dead

The 5th Circuit Court of Appeals issued a mandate Thursday making its March 15 decision to strike down the regulation effective.

Supreme Court curbs SEC administrative law judges

'Buckets of Money' adviser Raymond Lucia is entitled to a new hearing, court rules.

Opaque, outdated 401(k) plan disclosures harming investors, advisers

Morningstar report: Lack of data on fees, investments makes advice on rollovers costlier and more challenging for investors.

Mutual funds feel the pinch of platform fees

No-transaction-fee options are a big hit with investors, but funds wind up paying the costs — and passing them on.

X

Hi! Glad you're here and we hope you like all the great work we do here at InvestmentNews. But what we do is expensive and is funded in part by our sponsors. So won't you show our sponsors a little love by whitelisting investmentnews.com? It'll help us continue to serve you.

Yes, show me how to whitelist investmentnews.com

Ad blocker detected. Please whitelist us or give premium a try.

X

Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print