State BrokerCheck inventory · July 2026

Pennsylvania broker-dealer grades

According to FINRA BrokerCheck as of July 2026, Pennsylvania ranks #9 of 56 by registered-firm inventory (81) and #9 of 56 by aggregate disclosure load (517), then #6 of 33 on disclosures-per-firm and #24 of 33 on Grade-A share among states with at least 10 firms. Inventory rank is not intensity rank: Missouri leads disclosures-per-firm on that 33-state board.

Compiled by PlainAdvisorCheck

#9
of 56 by firm inventory: 81
registered firms: 517
disclosures on file: 6.4
avg disclosures / firm

Pennsylvania at a glance

#9 of 56
registered-firm inventory: #9 of 56
aggregate disclosure load: #6 of 33
disclosures per firm (≥10 firms): #24 of 33
Grade-A share (≥10 firms)

Disclosure-load ordinal matches the /states listing. Missouri leads disclosures-per-firm; Maine leads Grade-A share among states with at least 10 firms. Neither rank is investment advice. See methodology · corpus placement.

Where Pennsylvania sits by disclosures per firm

COUNT-derived placement among 33 states and territories with at least 10 graded firms. Lower intensity is cleaner for residents; large multistate HQs can lift a state's average without describing every local office.

Pennsylvania vs every ≥10-firm state by disclosures per firm

Size-normalized disclosure intensity · FINRA BrokerCheck extract

6 Among the lightest loads a lower disclosures-per-firm load than 82% of 33 floor-qualified states

Each bar is a band; taller bars hold more floor-qualified states. The dashed line + filled bar mark this entry. Hover or tap any bar for its full count, share, and where it sits relative to this entry.

Source FINRA BrokerCheck · SEC IAPD · July 2026

Firm-size mix among 81 graded firms

FINRA BrokerCheck size classes in Pennsylvania. Segments sum to the graded inventory, a catalog shape, not the A-F grade ChartBar below.

Large 9 firms (11%) Medium 6 firms (7%) Small 66 firms (81%)

Registered Firms

Clean Record (Grade A)

517

Total Disclosures

6.4

Avg Disclosures / Firm

Grade Distribution

How Pennsylvania's 81 graded broker-dealers split across the size-normalized A-F safety scale.

Grade breakdown of 81 graded firms headquartered in Pennsylvania

Firms by Disclosure Count

#	Firm	Disclosures	Offices	Grade
1	Janney Montgomery Scott LLCPhiladelphia	120	211	C
2	Susquehanna Securities, LLCBala Cynwyd	60	3	F
3	Vanguard Marketing CorporationMalvern	59	173	C
4	Susquehanna Investment GroupBala Cynwyd	42	3	D
5	Global Execution Brokers, LPBala Cynwyd	32	1	F
6	Transamerica Financial Advisors, LLCPhiladelphia	22	343	B
7	PNC Wealth Management LLCPittsburgh	19	1,662	B
8	Hornor, Townsend & Kent, LLCConshohocken	17	307	B
9	D & D Securities, Inc.Philadelphia	16	1	F
10	SAL Equity Trading, GPBala Cynwyd	16	2	D
11	Newedge Securities, LLCPittsburgh	14	127	B
12	PNC Capital Markets LLCPittsburgh	13	31	C
13	Nasdaq Execution Services, LLCPhiladelphia	10	3	C
14	Lincoln InvestmentFort Washington	7	594	B
15	Keystone Trading PartnersWayne	6	1	D
16	J.A.K. Securities, Inc.Philadelphia	5	1	C
17	Federated Securities Corp.Pittsburgh	4	234	B
18	Fortune Financial Services, Inc.Monaca	4	190	B
19	Hartford Funds Distributors, LLCWayne	4	4	C
20	J. Alden Associates, Inc.Wayne	4	9	B
21	SEI Investments Distribution Co.Oaks	4	4	C
22	Trustmont Financial Group, Inc.Greensburg	4	52	B
23	Cresap, Inc.Radnor	3	6	B
24	Delaware Distributors, L.P.Philadelphia	3	7	B
25	HCC Securities Group, IncJenkintown (Montgomery)	3	2	B
26	Lincoln Financial Distributors, Inc.Radnor	3	12	C
27	Brinker Capital Securities, LLCKing of Prussia	2	3	B
28	Directed Services LLCWest Chester	2	3	B
29	Girard Investment Services, LLCSouderton	2	5	B
30	Grant Williams L.P.Philadelphia	2	2	B
31	Largo Trading, L.P.Merion Station	2	1	B
32	Marathon Trading Group LLCWayne	2	2	B
33	Revl Securities, LLCPhiladelphia	2	3	B
34	American Financial Associates, Inc.Easton	1	2	B
35	Beaconsfield Financial Services, Inc.Canonsburg	1	12	B
36	Fund Investors, Inc.Ebensburg	1	2	B
37	Heritage Financial Systems, LLCMalvern	1	2	B
38	Hunter Associates LLCPittsburgh	1	6	B
39	MID Atlantic Clearing & Settlement CorporationPittsburgh	1	1	B
40	Nestlerode & LOY, Inc.State College	1	3	B
41	Quoin Capital LLCPhiladelphia	1	4	B
42	SLD America Equities, Inc.West Chester	1	4	B
43	3ICO Securities LLCConshohocken	0	3	A
44	Aberdeen Fund Distributors, LLCPhiladelphia	0	5	A
45	Agile Trading Technologies, LLCBryn Mawr	0	3	A
46	ALP Financial Group LLCGreentown	0	3	A
47	Axcelus Financial Distribution CompanyPhiladelphia	0	3	A
48	BA Securities, LLCW. Conshohocken	0	79	A
49	Bancroft Capital, LLCFort Washington	0	8	A
50	Bryant Park Capital Securities, Inc.Blue Bell	0	2	A

Dense registered-firm inventory

Pennsylvania in the denser-inventory third

Pennsylvania ranks #9 of 56 by BrokerCheck firm count (81 firms) - denser third of the board.

Pennsylvania sits in the denser third by registered-firm inventory (#9 of 56, 81 firms) as of July 2026. Grade-A share is 48.1% (39 of 81 graded) - cloudier third among floor-qualified states; D/F share is 7.4%. Heaviest raw book in-state: Janney Montgomery Scott LLC (120 disclosures across 211 offices).

Grades are editorial signals from a size-normalized model, not FINRA ratings. Disclosure totals are reported events, not proven violations - large multistate HQs in Pennsylvania can lift statewide totals without describing every local office. This page is informational only and does not constitute financial, legal, or investment advice. Confirm current records at FINRA BrokerCheck.

Frequently asked questions

Where does Pennsylvania sit among states by BrokerCheck disclosure load?

Pennsylvania is in the heavier third by aggregate disclosure load (#9 of 56, 517 events) while inventory ranks #9 of 56. Aggregate load is not a judgment of regulators or any firm.

How many broker-dealer firms are registered in Pennsylvania?

Pennsylvania registers 81 BrokerCheck firms (#9 denser-third inventory). 39 (48.1%) hold a clean Grade-A record.

Which Pennsylvania broker-dealer has the most FINRA disclosures?

Janney Montgomery Scott LLC leads Pennsylvania's listing with 120 BrokerCheck disclosures across 211 offices (Grade C). Totals are reported events, not proven violations - verify on FINRA BrokerCheck.

How should I read Pennsylvania's safety grades?

On Pennsylvania's heavier-load board, grades stay size-normalized (weighted disclosures ÷ branch footprint within size class). Zero-disclosure firms earn A. Editorial signals only - not FINRA ratings; see methodology.

Is this official Pennsylvania broker data?

Yes. Pennsylvania's firm rows come from FINRA BrokerCheck and SEC IAPD public registries. PlainAdvisorCheck aggregates and size-normalizes them; underlying records are public domain. This is not financial advice.

All Pennsylvania Firms → All States →

Read our methodology - how this data is sourced, computed, and verified.

Data sourced from official FINRA BrokerCheck and SEC EDGAR enforcement records for Pennsylvania. Pennsylvania ranks #9 by firm inventory and #9 by disclosure load in the PlainAdvisorCheck extract as of July 2026.

Compiled by PlainAdvisorCheck, Independent data publisher