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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
Stanley P. Stone & Associates, Inc. K0293 FL Municipal Advisor
Representative Name
Stone, Stanley
Principal Name
Stone, Stanley
Government Finance Group LLC K0295 VA Municipal Advisor
Representative Name
Krause, John
Principal Name
Krause, John
Peters Franklin, LTD K0303 IN Municipal Advisor
Representative Name
Franklin, Nichole
Peters, Jeffrey
Eppinger & Associates, LLC K0308 FL Municipal Advisor
Representative Name
Eppinger, Ann
Principal Name
Eppinger, Ann
David Drown Associates, Inc. K0319 MN Municipal Advisor
Principal Name
Drown, David
UNION BANK & TRUST CO /NE/ K0322 NE Municipal Advisor
Representative Name
Clegg, Sara
Crownover, Donna
Principal Name
Clegg, Sara
Crownover, Donna
Ranson Financial Corp K0327 KS Municipal Advisor
Representative Name
Schwermann, William
Principal Name
Schwermann, William
Genesis Marketing Group, Inc. K0328 IL Municipal Advisor
Principal Name
Oldenkamp, Stephanie
Harrell & Company Advisors, LLC K0336 CA Municipal Advisor
Representative Name
Harrell, Suzanne
Principal Name
Harrell, Suzanne
Government Consultants, Inc. K0339 MS Municipal Advisor
Principal Name
Schorr, Nicholas
Clear Scope Advisors, Inc K0344 MI Municipal Advisor
Representative Name
Tedla, Winta
Principal Name
Tedla, Winta
First River Advisory L.L.C. K0346 PA Municipal Advisor
Representative Name
Aronson, Shelley
Principal Name
Aronson, Shelley
ThinkForward Financial Group, LLC K0351 NY Municipal Advisor
Representative Name
Aggarwal, Sunil
Nelson, Gregory
American Deposit Management LLC K0353 WI Municipal Advisor
Principal Name
Major, John
Sutton, Maya
HG Wilson Municipal Finance Inc. K0360 CA Municipal Advisor
Representative Name
Wilson, Herman
Principal Name
Wilson, Herman
Montague DeRose and Associates, LLC K0361 CA Municipal Advisor
CapM Funding K0362 NV Municipal Advisor
Representative Name
Ofek, Tamar
Principal Name
Ofek, Tamar
JFBP, LLC K0363 NY Municipal Advisor
Representative Name
Kurtzman, Pamela
Principal Name
Kurtzman, Pamela
Oyster River Capital LP K0364 FL Municipal Advisor
Representative Name
Labbe, Patrick
Principal Name
Labbe, Patrick
Financial Solutions Group, Inc. K0365 IN Municipal Advisor
Representative Name
Guerrettaz, Gregory
Joyce, Tim
Principal Name
Guerrettaz, Gregory
Ineo Capital LLC K0369 FL Municipal Advisor
Representative Name
Sirinyan, Mark
Principal Name
Sirinyan, Mark
Stephen L. Smith Corp. K0371 OK Municipal Advisor
Representative Name
Davis, Andrew
Smith, Jordan
Principal Name
Davis, Andrew
Smith, Jordan
Frontier Partners, Inc. K0373 IL Municipal Advisor
Representative Name
Forsyth, William
Principal Name
Forsyth, William
W J Fawell LLC K0376 CA Municipal Advisor
Representative Name
Fawell, William
Principal Name
Fawell, William
O. W. Krohn & Associates LLP K0378 IN Municipal Advisor
Principal Name
Krohn, Otto

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.