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.

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

Pennsylvania at a glance

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.

#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

0–2: 10 floor-qualified states (30%). Below this entry. 2–4: 9 floor-qualified states (27%). Below this entry. 4–6: 8 floor-qualified states (24%). Below this entry. 6–8: 1 floor-qualified states (3%). This entry sits in this band. 8–10: 1 floor-qualified states (3%). Above this entry. 10–12: 0 floor-qualified states (0%). Above this entry. 12–14: 2 floor-qualified states (6%). Above this entry. 14–16: 0 floor-qualified states (0%). Above this entry. 16–18: 0 floor-qualified states (0%). Above this entry. 18–20: 1 floor-qualified states (3%). Above this entry. 20–22: 0 floor-qualified states (0%). Above this entry. 22–24: 0 floor-qualified states (0%). Above this entry. 24–26: 0 floor-qualified states (0%). Above this entry. 26–28: 0 floor-qualified states (0%). Above this entry. 28–30: 0 floor-qualified states (0%). Above this entry. 30–32: 0 floor-qualified states (0%). Above this entry. 32–34: 0 floor-qualified states (0%). Above this entry. 34–36: 1 floor-qualified states (3%). Above this entry. Pennsylvania 0 36 every state with ≥10 graded firms, bucketed by value

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.

81
Registered Firms
39
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.

A, clean (39)39 firmsB, low (28)28 firmsC, typical (8)8 firmsD, elevated (3)3 firmsF, heaviest (3)3 firms
Grade breakdown of 81 graded firms headquartered in Pennsylvania

Firms by Disclosure Count

# Firm DisclosuresOfficesGrade
1 Janney Montgomery Scott LLC Philadelphia 120 211 C
2 Susquehanna Securities, LLC Bala Cynwyd 60 3 F
3 Vanguard Marketing Corporation Malvern 59 173 C
4 Susquehanna Investment Group Bala Cynwyd 42 3 D
5 Global Execution Brokers, LP Bala Cynwyd 32 1 F
6 Transamerica Financial Advisors, LLC Philadelphia 22 343 B
7 PNC Wealth Management LLC Pittsburgh 19 1,662 B
8 Hornor, Townsend & Kent, LLC Conshohocken 17 307 B
9 D & D Securities, Inc. Philadelphia 16 1 F
10 SAL Equity Trading, GP Bala Cynwyd 16 2 D
11 Newedge Securities, LLC Pittsburgh 14 127 B
12 PNC Capital Markets LLC Pittsburgh 13 31 C
13 Nasdaq Execution Services, LLC Philadelphia 10 3 C
14 Lincoln Investment Fort Washington 7 594 B
15 Keystone Trading Partners Wayne 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, LLC Wayne 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, Inc Jenkintown (Montgomery) 3 2 B
26 Lincoln Financial Distributors, Inc. Radnor 3 12 C
27 Brinker Capital Securities, LLC King of Prussia 2 3 B
28 Directed Services LLC West Chester 2 3 B
29 Girard Investment Services, LLC Souderton 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 LLC Wayne 2 2 B
33 Revl Securities, LLC Philadelphia 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, LLC Malvern 1 2 B
38 Hunter Associates LLC Pittsburgh 1 6 B
39 MID Atlantic Clearing & Settlement Corporation Pittsburgh 1 1 B
40 Nestlerode & LOY, Inc. State College 1 3 B
41 Quoin Capital LLC Philadelphia 1 4 B
42 SLD America Equities, Inc. West Chester 1 4 B
43 3ICO Securities LLC Conshohocken 0 3 A
44 Aberdeen Fund Distributors, LLC Philadelphia 0 5 A
45 Agile Trading Technologies, LLC Bryn Mawr 0 3 A
46 ALP Financial Group LLC Greentown 0 3 A
47 Axcelus Financial Distribution Company Philadelphia 0 3 A
48 BA Securities, LLC W. Conshohocken 0 79 A
49 Bancroft Capital, LLC Fort 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.

Every figure on PlainAdvisorCheck is rendered directly from FINRA BrokerCheck and SEC IAPD disciplinary records, no number is typed in by an editor. This page draws directly on FINRA BrokerCheck and SEC IAPD data, no figure is typed in by an editor. See our editorial standards & corrections policy, the methodology behind these numbers, or report a data error. Data current as of July 2026.