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Municipal Advisor Firms

MSRB-Registered Municipal Advisor Firms and Qualified Representatives and Principals

The Municipal Advisor Firms tab displays municipal advisor firms registered with the MSRB with at least one individual associated with the firm who has passed the MSRB’s Municipal Advisor Representative Qualification Examination (Series 50).1

Municipal advisor firms must have at least one individual appropriately qualified who has passed the Series 50 exam in order to engage in municipal advisory activities. Municipal market participants should closely review this list as part of evaluating the qualifications of a municipal advisor firm. Any entity that is engaging in municipal advisory activities on behalf of a municipal entity or obligated person client without having taken the necessary steps to become a duly registered municipal advisor firm – meaning having filed Form MA (Application for Municipal Advisor Registration) and Form MA-I (Information Regarding Natural Persons Who Engage in Municipal Advisory Activities) with the SEC and Form A-12 with the MSRB – could be deemed an unregistered municipal advisor firm, which is a violation of MSRB rules and other federal securities laws.

The link on this tab facilitates access to the required disclosures that municipal advisor firms make to the U.S. Securities and Exchange Commission (SEC) on SEC Forms MA and MA-I. These disclosures may include information about criminal actions, regulatory actions, investigations, terminations, judgments, liens, civil judicial actions, customer complaints, arbitrations and civil litigation, if any. Read more about working with municipal advisors in the MSRB Education Center. 

Click on a firm or individual’s name below to access the filings made with the SEC.

Only those MSRB-registered municipal advisor firms who have at least one Series 50-qualified representative can be found in the list below.

Find a Firm:
Show entries:
Firm Name MSRB ID Sort descending State Registrant Type
Roosevelt & Cross Incorporated A1218 NY Municipal Advisor/Broker Dealer
Principal Name
Stavitski, Charles
Hilltop Securities Inc. A1290 TX Municipal Advisor/Broker Dealer
Representative Name
Aguilar, Bernard
Alexander, Laura
Alvarado, Ivan
Aragon, Lucy
Ayala, Esteban
Azzam, Magd
Bartolotta, Michael
Bermudez, William
Best, Carmencita
Blais, Matthew
Brooker, Penny
Bulaich, Nicholas
Burger Entrekin, Anne
Chapman, Theodore
Cheeks, Carol
Cheung, Tony
Chien, Chia
Coma, Stephen
Coya, Scott
Dasilva, William
Davis-Manibusan, Alisa
Delgado, Jorge
Desens, Sara
Donner, Leland
Driscoll, Lisa
Druhot, Peter
Dymond, Michael
Eckols, Colby
Ellis, Mark
Emerson, Bradley
Erickson, Taylor
Evans, William
Evans, Adriane
Fenner, Lisa
Fisher, Sean
Flores, Ester
Frazier, Peter
Freeman, Joshua
Freeman, Joshua
Galvin, Mark
Gaudry, Jerome
Gaudry, Jerome
Gold, Janelle
Gonzales, Karla
Gurghigian, Maureen
Gutierrez, Misty
Hall, Vickie
Hernandez, Mario
Holleran, David
Hrovat, Benjamin
Hughes, Jason
Hundley, Emily
Hyland, Megan
Israel, Jeffrey
Jackson, Joseph
Janning, Christopher
Jeffers, Abby
Jerd, Blake
Kuo, Andy
Lara, Zacarias
Le, Michelle
Le, Hy
Maas, Terry
Macha, Erick
Maldonado, Homer
Martin, Michael
Martin, John
Mccellan, Jonathan
Mcnerney, Cynthia
Medanich, David
Merritt, Claire
Mitchell, Matthew
Morris, Blake
Morrow, Joseph
Moutaftchieva, Petia
Mulcahy, Monica
Murillo Compean, America
Murphy, Therese
Nelson, Timothy
Newman, Michael
Parsons, Braxton
Pellicci, John
Prager, Ian
Prager, Adam
Prager, Fredric
Prodanovic, Mattie
Rahmes, Megan
Ramirez, Richard
Robert, Jeffrey
Roberts, Emily
Sabonis, James
Sheehy, Thomas
Shew, Marti
Sienty, Megan
Simmons, William
Simoncini, Nichoolas
Slattery, Megan
Sovde, Lindsay
Spears, Robert
Szostak, Robert
Tindal, Joel
Tofuri, Kristy
Toland, Melissa
Tran, Chelsey
Trevino, Vannessa
Turbenson, John
Tyrell, Colin
Urbina, Maria
Vasquez Torres, Kristopher
Villasenor, Ricardo
Villasenor, Raul
Vogelpohl, William
Weaver, Brett
Webb, Thomas
Whitworth, Brian
Williams, Mary
Williams, Hamill
Williford, George
Stephens Inc. A1303 AR Municipal Advisor/Broker Dealer
Stifel, Nicolaus & Company,Inc A1313 MO Municipal Advisor/Broker Dealer
Representative Name
Ahlqvist, Karl
Airhart, Michael
Alley, Susan
Amoroso, Lori
Angst, Bradley
Arteberry, David
Baker, Peter
Barber, Elizabeth
Barna, Robert
Bartolotta, Emily
Bauer, Joshua
Bell, James
Benninghoff, Joshua
Berlinger, Stacey
Biggio, William
Blacklock, Chad
Blevins, Brent
Boyd, Lorenzo
Brandt, Gary
Brei, Blake
Brown, Sara
Bruggeman, Lucas
Buckfire, Kenneth
Budakian, Robert
Caine, Robert
Campos, Jake
Canfield, Amy
Cao, Shan
Casillas, Robert
Cavnar, Andrew
Cellars, Daniel
Chang, Kavin
Cherevka, Kenneth
Christoff, Chad
Clark, Gregory
Cortez, Toby
Coyne, David
Crabtree, Thomas
Crandall, John
Cross, Denise
Czajkowski, Peter
Daghestani, Omar
Davis, Debra
De Sena, Jaime
Dennis, Claire
Dill, Daniel
Dill, David
Doak, James
Dugdale, Matthew
Dunn, Michael
Elizondo, James
Esrock, Rebecca
Forbes, Jonathan
Franz, Robert
Fretz, Nathan
Funderburk, Ken
Gallagher, Eileen
Garcia, Guillermo
Ghafoori, Martin
Giardina, Jamie
Gonzalez, Erica
Gottfried, Barry
Gysin, Bradley
Hamill, Grant
Hart, Brady
Heid, Kevin
Hillstrom, Michelle
Hilpert, Colin
Hoffert, Christopher
Holton-Byrd, Pamela
Huskey, Bryan
Hutsler, James
Hynote, Robert
Imhoff, Michael
Jacob, Thomas
Jahic, Admir
Jarosz, Robert
Jin, Esther
Johansen, Matthew
Johnson, Jillian
Jones, John
Karar, Joshua
Kelly, Stephen
Keninitz, Nathaniel
Keny-Guyer, Jordan
Kim, John
Kinder, Joseph
King, Patrick
Klaus, John
Klitzke, Bryan
Kopinski, Dane
Lahay, James
Laird, Whitney
Lanam, Andrew
Laorr, Eric
Laurie, Kevin
Lavallee, Michael
Lazalde, Carlos
Leeper, John
Lehrer, Alec
Levin, Matthew
Lindsley, Graham
Lockhart, Claude
Lubovich, Jandra
Lundberg, Bryan
Luzecky, Mary
Machak, Gary
Markisich, Layne
Martin, Gina
Matlosz, Alan
May, Lisa
Mccarthy, Sean
Mcdonagh, Trevor
Mcshane, John
Miller, Jeremiah
Monroe, Lewis
Moriarty, Christopher
Murdock, Kelly
Murray, Edward
Napper, Richard
Newtson, Jeremy
Noble, Anne
Palazzolo, John
Papadopoulos, Lazaros
Paskulin, Marc
Porembka, Kenneth
Poswalk, Robert
Quinn, Mark
Radcliff, Laura
Rawl, Madelyn
Read, Elizabeth
Reader, Brian
Reedy, Thomas
Rehm, Gary
Richter, Logan
Riffle, Courtland
Rippel, Jeremy
Robertson, Brenton
Rocha, Nancy
Roess, Grant
Rosen, Kyle
Ross, Brendan
Rucker, John
Ruiz, Roberto
Schumaker, Michael
Schumaker, Matthew
Seymour, Hadley
Shogren, Bret
Shogren, Stephen
Short, Michael
Sides, Charles
Stark, Rose
Stasen, Edward
Stein, Randie
Stelmack, Bryan
Swanson, Conner
Talvadkar, Dev
Teclaw, Mackenzie
Topalian, Adam
Tripode, Timothy
Tritt, Andrew
Tumolo, Alex
Vargo, Jackson
Vincent, Dawn
Von Raab, Nicholas
Webb, David
Weisshaar, Philip
White, William
Willson, Lester
Woodruff, Linnea
Wu, David
Zylstra, Jeffrey
Colliers Securities LLC A1329 MN Municipal Advisor/Broker Dealer
Principal Name
Mullen, David
Norris, Roger
Thornton Farish Inc. A1357 AL Municipal Advisor/Broker Dealer
Principal Name
Cardinal, Louis
Herbert J Sims & Co., Inc. A1481 CT Municipal Advisor/Broker Dealer
Principal Name
Rulnick, Aaron
Grigsby & Associates, Inc. A1706 CA Municipal Advisor
Representative Name
Grigsby, Calvin
Principal Name
Grigsby, Calvin
Synovus Securities Inc. A1715 GA Municipal Advisor/Broker Dealer
Representative Name
Gunderson, Gene
Rutledge, Luther
Principal Name
Gunderson, Gene
Ameritas Investment Company, LLC A2110 NE Municipal Advisor/Broker Dealer
Representative Name
Kobza, Jennifer
Torczon, Kenneth
Concourse Financial Group Securities, Inc. A2137 AL Municipal Advisor/Broker Dealer
Representative Name
Hailey, Bobby
Hartley, Rory
Principal Name
Hailey, Bobby
Sturges Company (The) A2359 FL Municipal Advisor/Broker Dealer
Representative Name
Sturges, Michael
Principal Name
Sturges, Michael
Kane, McKenna Capital, Inc A3525 IL Municipal Advisor
Representative Name
Mckenna, Philip
Principal Name
Mckenna, Philip
Sisung Securities Corporation A3587 LA Municipal Advisor/Broker Dealer
Principal Name
Sisung, Lawrence
Estrada Hinojosa & Co., Inc. A3631 TX Municipal Advisor/Broker Dealer
Multi-Bank Securities, Inc. A3678 MI Municipal Advisor/Broker Dealer
Starshak Winzenburg & Co A3857 IL Municipal Advisor/Broker Dealer
Representative Name
Starshak, Joseph
Starshak, Thomas
L.J. Hart & Company A4071 MO Municipal Advisor/Broker Dealer
Melvin Securities, LLC A4105 IL Municipal Advisor/Broker Dealer
Representative Name
Bryant, Nicholas
Rorke, Alex
Principal Name
Rorke, Alex
RBC Capital Markets, LLC A4258 NY Municipal Advisor/Broker Dealer
Cabrera Capital Markets, LLC A4470 IL Municipal Advisor/Broker Dealer
Principal Name
Aguilar, Robert
UMB Financial Services, Inc. A4589 MO Municipal Advisor/Broker Dealer
Principal Name
Crist, Scott
Mann, James
BLUESTEM CAPITAL PARTNERS, INC. A4635 NE Municipal Advisor
BNY Mellon Capital Markets, LLC A4685 NY Municipal Advisor/Broker Dealer
BOK Financial Securities, Inc. A4700 OK Municipal Advisor/Broker Dealer

1 The Municipal Advisor Firm tab is updated daily and is dependent on the quality of the data a municipal advisor submits to the Securities and Exchange Commission (SEC). If you believe your firm has been incorrectly omitted from this list, please contact MSRB Support at 202-838-1330 or MSRBsupport@msrb.org.

Any entity that is engaging in municipal advisory activities on behalf of a municipal entity or obligated person client without having taken the necessary steps to become a duly registered municipal advisor firm – meaning having filed Form MA (Application for Municipal Advisor Registration) and Form MA-I (Information Regarding Natural Persons Who Engage in Municipal Advisory Activities) with the SEC and Form A-12 with the MSRB – could be deemed an unregistered municipal advisor firm, which is a violation of MSRB rules and other federal securities laws. 

Series 50-Qualified Representatives

Series 50-Qualified Representatives 

The Series 50-Qualified Representatives tab displays the names of individuals who have passed the Series 50 examand are associated with an MSRB-registered municipal advisor firm.MSRB-registered municipal advisor firms must file a Form MA-I with the SEC which denotes that such individual(s) who are Series 50 qualified are engaged in municipal advisory activities on behalf of the municipal advisor firm. Pursuant to MSRB Rule G-3, only those associated persons who have passed the Series 50 exam are permitted to engage in municipal advisory activities or directly engage in the management, direction or supervision of the municipal advisory activities of the municipal advisor and its associated persons.3

The links on this tab facilitates access to the required disclosures that municipal advisor firms make to the SEC on SEC Forms MA and MA-I. These disclosures may include information about regulatory actions, criminal actions, and other matters, if any. Read more on Municipal Advisor Professional Qualification and Examination Requirements.

Click on a firm or individual’s name below to access the filings made with the SEC.

Only those who have passed the Series 50 exam and are associated with an MSRB-registered municipal advisor firm can be found in the list below.

1 The Series 50 exam is designed to test broad-based knowledge of the business and regulations applicable to municipal advisory activities. The examination is not designed to specifically test each specialized functional role or service that may be provided on behalf of a municipal advisor firm as defined in Section 15B of the Securities Exchange Act of 1934 and, therefore, does not confer the degree of knowledge and expertise needed to provide a municipal entity or obligated person client with informed advice as required under MSRB Rule G-42.

2 The Series 50-Qualified Representatives’ qualification status is updated weekly, generally on the first business day of the week, and is dependent on the quality of the data a municipal advisor firm submits to the SEC on SEC Form MA-I. If your firm believes that the name of a qualified associated person is not displayed and you have confirmed that a Form MA-I is on file for the individual, please contact MSRB Support at 202-838-1330.

Since the Series 50 exam is a pre-requisite to becoming qualified as a municipal advisor principal, individuals who are Series 54 qualified are also displayed on the Series 50-Qualified Representatives tab.

Series 54-Qualified Principals

Series 54-Qualified Principals 

The Series 54-Qualified Principals tab displays the names of individuals who have passed the Series 54 examand are associated with an MSRB-registered municipal advisor firm.Pursuant to MSRB Rule G-3, only those associated persons who have passed the pre-requisite exam, the Series 50 exam, and the Series 54 exam,3 are duly qualified as a municipal advisor principal and, thus, permitted to engage in the management, direction or supervision of the municipal advisory activities of the municipal advisor and its associated persons.

All MSRB-registered municipal advisor firms had to have at least one person appropriately qualified as a municipal advisor principal. Notwithstanding, every individual who meets the definition of a municipal advisor principal, as defined under MSRB Rule G-3(e), must be appropriately qualified as a municipal advisor principal; and pursuant to MSRB Rule G-44 each municipal advisor firm must designate one or more municipal advisor principals to carry out the responsibilities required by the rule.

The links on this tab facilitates access to the required disclosures that municipal advisor firms make to the SEC on SEC Forms MA and MA-I. These disclosures may include information about regulatory actions, criminal actions and other matters, if any. Read more on the Municipal Advisor Principal Qualification Examination (Series 54 Exam).

Click on a firm or individual’s name below to access the filings made with the SEC.

Only those who have passed the Series 54 exam and are associated with an MSRB-registered municipal advisor firm can be found in the list below.

1 The Series 54 exam is designed to test that a person seeking to qualify as a municipal advisor principal satisfies a specified level of competency and knowledge by measuring a person’s ability to apply the applicable federal securities laws, including MSRB rules to the municipal advisory activities of a municipal advisor.

2 The Series 54-Qualified Principals’ qualification status is updated weekly, generally on the first business day of the week, and is dependent on the quality of the data a municipal advisor firm submits to the SEC on SEC Form MA-I. If your firm believes that the name of a qualified associated person is not displayed and you have confirmed that a Form MA-I is on file for the individual, please contact MSRB Support at 202-838-1330.

3 Since the Series 50 exam is a pre-requisite to becoming qualified as a municipal advisor principal, individuals who are Series 54 qualified are also displayed on the Series 50-Qualified Representatives tab.