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

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