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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
London Witte Group LLC K0379 IN Municipal Advisor
Cender & Company, L.L.C. K0401 IN Municipal Advisor
Representative Name
Cender, Karl
Dalton, Steven
Principal Name
Cender, Karl
Dalton, Steven
Leora Consulting LLC K0411 WA Municipal Advisor
Representative Name
Cebull, Kristin
Principal Name
Cebull, Kristin
Development & Public Finance, LLC K0413 CA Municipal Advisor
Representative Name
Whipple, Michael
Bartle Wells Associates K0414 CA Municipal Advisor
Principal Name
Dove, Douglas
THB Advisory LLC K0420 NY Municipal Advisor
Representative Name
Boast, Thomas
Principal Name
Boast, Thomas
S.P. Yount Financial, LLC K0422 VA Municipal Advisor
Representative Name
Yount, Suzanne
Principal Name
Yount, Suzanne
Municipal Advisors Group of Boston, Inc. K0423 MA Municipal Advisor
Representative Name
Canney, John
Principal Name
Canney, John
InnoVative Capital LLC K0426 PA Municipal Advisor
Representative Name
Richman, Alan
Principal Name
Richman, Alan
Sudsina & Associates, LLC K0435 OH Municipal Advisor
Southeastern Investment Securities, LLC K0436 FL Municipal Advisor
Representative Name
Wagner, Richard
Principal Name
Wagner, Richard
NW Financial Group, LLC K0438 NJ Municipal Advisor
Grant & Associates LLC. K0442 GA Municipal Advisor
Representative Name
Grant, Reginald
Principal Name
Grant, Reginald
Moody Reid Financial Advisors, LP K0446 MO Municipal Advisor
Representative Name
Coe, Douglas
Principal Name
Coe, Douglas
Cedar Partners, ltd. K0447 OH Municipal Advisor
Representative Name
Ping, Christy
White, Chrisotpher
Principal Name
Ping, Christy
Armadale Capital Inc. K0448 FL Municipal Advisor
Representative Name
Pack, Stephen
Principal Name
Pack, Stephen
Robert W.E. Fisher K0450 PA Municipal Advisor
Representative Name
Fisher, Robert
Principal Name
Fisher, Robert
Therber, Brock & Associates, LLC K0469 IN Municipal Advisor
Principal Name
Brock, Steven
AKF Consulting LLC K0479 NY Municipal Advisor
Principal Name
Feirstein, Andrea
Austin Meade Financial Ltd K0481 IL Municipal Advisor
Representative Name
Denys, Daniel
Principal Name
Denys, Daniel
Capital Markets Advisors LLC K0489 NY Municipal Advisor
Phoenix Capital Partners, LLP K0491 PA Municipal Advisor
Representative Name
Allen, Andre
Principal Name
Allen, Andre
Government Capital Management, LLC K0495 OH Municipal Advisor
Representative Name
Hoffmann, Steven
Principal Name
Hoffmann, Steven
Reedy Financial Group P.C. K0499 IN Municipal Advisor
Representative Name
Frische, Matthew
Smith, Gary
Principal Name
Frische, Matthew
Zomermaand Financial Advisory Services, LLC K0500 FL Municipal Advisor
Representative Name
Zomermaand, Deborah
Principal Name
Zomermaand, Deborah

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.