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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 descending MSRB ID State Registrant Type
Hamlin Capital Advisors LLC K0771 FL Municipal Advisor
Harrell & Company Advisors, LLC K0336 CA Municipal Advisor
Harris & Associates K1273 CA Municipal Advisor
Hayat Brown, LLC K1298 DC Municipal Advisor
Hedge Point Financial, LLC K1114 CA Municipal Advisor
Hendrickson Mark Allan K0638 FL Municipal Advisor
Herbert J Sims & Co., Inc. A1481 CT Municipal Advisor/Broker Dealer
Heritage Financial Systems, LLC A6627 PA Municipal Advisor/Broker Dealer
HG Wilson Municipal Finance Inc. K0360 CA Municipal Advisor
Hilltop Securities Inc. A1290 TX Municipal Advisor/Broker Dealer
Representative Name Sort descending
Aguilar, Bernard
Alexander, Laura
Aragon, Lucy
Ayala, Esteban
Ball, Harry
Bartolotta, Michael
Bermudez, William
Best, Carmencita
Bettencourt, Craig
Blais, Matthew
Brooker, Penny
Bulaich, Nicholas
Burger Entrekin, Anne
Chapman, Theodore
Cheeks, Carol
Cheung, Tony
Chien, Chia
Coma, Stephen
Delgado, Jorge
Desens, Sara
Dierker, Joseph
Donner, Leland
Driscoll, Lisa
Druhot, Peter
Eckols, Colby
Ellis, Mark
Emerson, Bradley
Erickson, Taylor
Evans, Adriane
Evans, William
Evans, Lindsay
Fenner, Lisa
Fisher, Sean
Flores, Ester
Frazier, Peter
Freeman, Joshua
Freeman, Joshua
Galvin, Mark
Gold, Janelle
Gonzales, Karla
Gurghigian, Maureen
Gutierrez, Misty
Hall, Vickie
Heath, Lou
Hernandez, Mario
Holleran, David
Holliday, Reagan
Hughes, Jason
Hundley, Emily
Hyland, Megan
Israel, Jeffrey
Jackson, Joseph
Janning, Christopher
Jeffers, Abby
Johnson, Steven
Johnson, William
Konkel, Richard
Kuo, Andy
Lara, Zacarias
Le, Michelle
Lockett, William
Long, Joseph
Maas, Terry
Macha, Erick
Maldonado, Homer
Martin, Michael
Martin, John
Marz, Michael
Mcnerney, Cynthia
Medanich, David
Merritt, Claire
Meyer, Jeffery
Morris, Blake
Morrow, Joseph
Moutaftchieva, Petia
Mulcahy, Monica
Nelson, Timothy
Newman, Michael
Papadopoulos, Lazaros
Parsons, Braxton
Prall, Eric
Prodanovic, Mattie
Rahmes, Megan
Ramirez, Richard
Robert, Jeffrey
Roberts, Emily
Robertson, Joseph
Sabonis, James
Shew, Marti
Sienty, Megan
Simmons, William
Slattery, Megan
Sorth, Michael
Sovde, Lindsay
Spears, Robert
Stare, Peter
Sullivan, Alex
Tindal, Joel
Tofuri, Kristy
Toland, Melissa
Topel, Randy
Turbenson, John
Urbina, Maria
Vasquez Torres, Kristopher
Villasenor, Ricardo
Villasenor, Raul
Vogelpohl, William
Weaver, Brett
Webb, Thomas
Whitworth, Brian
Williams, Mary
Williams, Hamill
Williford, George
Wood, Kingsley
Hobbs, Ong & Associates, Inc. K0286 NV Municipal Advisor
Huntington Securities, Inc A0693 IL Municipal Advisor/Broker Dealer
Huron Public Finance Advisory LLC K1293 IL Municipal Advisor
IBERIA Wealth Advisors, a division of IBERIABANK K0991 AL Municipal Advisor
IMG Rebel Advisory, Inc. K0599 DC Municipal Advisor
Independent Public Advisors, LLC K0810 MO Municipal Advisor
Ineo Capital LLC K0369 FL Municipal Advisor
InnoVative Capital LLC K0426 PA Municipal Advisor
Institutional Bond Network LLC. A7419 CA Municipal Advisor/Broker Dealer
Iron Lion LLC K1289 AZ Municipal Advisor
IRR Corporate & Public Finance, LLC K1047 KS Municipal Advisor
Isosceles & Company K1200 NJ Municipal Advisor
JAMES JOSEPH DARBY K1146 NJ Municipal Advisor
Janney Montgomery Scott LLC A0785 PA Municipal Advisor/Broker Dealer
JD Capital Markets LLC K1238 WA Municipal Advisor

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.