Commerce News Release
News Releases
Home

RECORD NUMBER OF SECURITIES SALESPERSONS LICENSED IN OHIO

 

Ohio Securities Commissioner Debbie Dye Joyce announced today that a record 125,013 securities salespersons (often called stockbrokers) were licensed with the division as of February 20.  A year ago, there was a previous record of 101,078 salespersons. 

 

While the number of securities salespersons has increased this year, there has been a slight decrease in the number of licensed securities dealers.  As of February 20, there were 2,235 licensed dealers as compared to 2,388 at this time last year.   

 

In addition to the licensure of securities dealers and salespersons, the Ohio Department of Commerce’s Division of Securities licenses persons who are engaged in the business of giving advice regarding securities.  These “investment advisers” are subject to certain licensing, competency, conduct and anti-fraud standards administered by the division.

 

As of February 20, a total of 1,326 investment advisers have filed with the division.  Of this total, 529 are licensed by the division, and 797 are “notice filers” who are registered with the federal Securities and Exchange Commission.   At this time last year, there were 980 investment advisers with 403 licensed with the division and 577 notice filers. 

 

In addition, the division currently licenses 7,406 investment adviser representatives.  These are individuals who are employed or supervised by an investment adviser firm and meet with clients on a regular basis to render advice about securities.  A year ago, there were 5,186 investment adviser representatives licensed in Ohio. 

 

“The public’s interest in investing and financial planning continues to drive the growing number of individuals who are licensed as securities salespersons and investment advisers in Ohio,” Commissioner Dye Joyce said.

 

She encourages Ohioans who are thinking about starting a relationship with a securities professional to do their homework.  “Before making any investment decisions, it is important to investigate before you invest.  At a minimum, this should include obtaining the licensing and disciplinary history of the salesperson or adviser, and fully understanding the terms and costs of the proposed relationship,” she said.  She encourages Ohioans to call the division’s Investor Protection Hotline at 1-800-788-1194 to inquire about a licensee’s licensing and disciplinary history and to learn if an investment product has been properly registered in Ohio.  A variety of investor education information is also available on the division’s web site at www.securities.state.oh.us

 

#          #          #

 

The Division of Securities promotes an honest and fair securities market where individuals and businesses can raise capital and investors can expect a fair return on their investment.  Other Commerce divisions enforce regulations regarding industrial compliance, financial institutions, real estate, liquor, auctioneers, and unclaimed funds, among others.  The department's internet address is www.com.state.oh.us

 

[Commerce Home Page] [Commerce News Releases]
[State of Ohio Front Page]

Send mail to webadmin@com.state.oh.us with questions or comments about this web site.
Information believed accurate but not guaranteed.  The State of Ohio disclaims liability for any errors or omissions.