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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 Sort ascending MSRB ID State Registrant Type
MW Financial Advisory Services LLC K1195 FL Municipal Advisor
Representative Name
Wortman, Marissa
Principal Name
Wortman, Marissa
Munistat Services, Inc. K0114 NY Municipal Advisor
MuniGroup, LLC K0911 MS Municipal Advisor
Representative Name
Greenlee, Vernon
Young, James
Municipal Solutions, Inc. K0173 NY Municipal Advisor
Representative Name
Augugliaro, Margaret
Smith, Jeffrey
Municipal Resource Advisors, LLC K1327 MD Municipal Advisor
Representative Name
Redd, James
Municipal Finance Services, Inc. K0236 OK Municipal Advisor
Municipal Capital Markets Group, Inc. A5738 TX Municipal Advisor/Broker Dealer
Municipal Capital Advisors LLC K1147 NE Municipal Advisor
Representative Name
Spady, Blaine
Principal Name
Spady, Blaine
Municipal Advisory Solutions LLC K1326 NJ Municipal Advisor
Representative Name
Angeles, Manuel
Principal Name
Angeles, Manuel
Municipal Advisors of Mississippi Inc. K1205 MS Municipal Advisor
Municipal Advisors Group of Boston, Inc. K0423 MA Municipal Advisor
Representative Name
Canney, John
Principal Name
Canney, John
MuniCap, Inc. K0641 MD Municipal Advisor
Multi-Bank Securities, Inc. A3678 MI Municipal Advisor/Broker Dealer
Moors & Cabot, Inc. A1007 MA Municipal Advisor/Broker Dealer
Representative Name
Cuetara, Joseph
Svorinic, Peter
Moody Reid Financial Advisors, LP K0446 MO Municipal Advisor
Representative Name
Coe, Douglas
Principal Name
Coe, Douglas
Montague DeRose and Associates, LLC K0361 CA Municipal Advisor
Mohanty Gargiulo LLC K0119 NY Municipal Advisor
Mission Trail Advisors, LLC K0889 CA Municipal Advisor
Representative Name
Trujillo, Everardo
Principal Name
Trujillo, Everardo
MGIC Corp. K0520 AZ Municipal Advisor
Representative Name
Rasmussen, Robert
Principal Name
Rasmussen, Robert
MFCI, LLC K1221 MI Municipal Advisor
Principal Name
Burke, Steven
Mesirow Financial Inc A0980 IL Municipal Advisor/Broker Dealer
Principal Name
Gruer, Samuel
Waldrop, Todd
Meristem Advisors LLC K1234 IL Municipal Advisor
Representative Name
Rachlin, James
Shields, Robert
Principal Name
Rachlin, James
Mercator Advisors LLC K0147 PA Municipal Advisor
Principal Name
Taylor, James
Melvin Securities, LLC A4105 IL Municipal Advisor/Broker Dealer
Representative Name
Bryant, Nicholas
Rorke, Alex
Principal Name
Rorke, Alex
MEKETA INVESTMENT GROUP INC /ADV K1259 MA Municipal Advisor
Representative Name
Ceserani, Kay
Duryea, William
Principal Name
Ceserani, Kay

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.

Find a Representative:
Show entries:

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.