Tennessee

Broker-dealer firm disciplinary records from FINRA BrokerCheck

Data updated July 2026

Tennessee at a glance

As of July 2026, Tennessee registers 42 broker-dealer firms on FINRA BrokerCheck - 23 carry a clean record and 137 disclosures are on file statewide.

42
registered firms: 23
with a clean record (Grade A): 137
total disclosures statewide: 3.3
disclosures per firm (avg)

Registered Firms

Clean Record (Grade A)

137

Total Disclosures

3.3

Avg Disclosures / Firm

How Tennessee ranks

A state's raw firm count and its disciplinary clean-record rate measure two different things, and they do not always move together. A jurisdiction can host a large number of broker-dealer firms simply because it is a major financial hub, while a smaller state with far fewer registered firms can post a cleaner disciplinary record in relative terms, or vice versa. Comparing both rankings side by side, rather than looking at either figure in isolation, gives a fuller picture of what is actually happening on the ground in a given state.

By firm count, Tennessee is #16 of 56 states and territories. By clean-record rate (Grade A share, among the 33 states with at least 10 registered firms, a floor that keeps a state with only a handful of firms from swinging to an extreme rate on a tiny sample), it ranks #21 of 33. These ranks diverge notably -- a larger firm footprint here does not translate into a proportionally cleaner record. Neither ranking implies wrongdoing on its own; always review an individual firm's own size-normalized grade before drawing a conclusion about it specifically.

Grade Distribution

How Tennessee's 42 graded broker-dealers split across the size-normalized A-F safety scale.

Grade breakdown of 42 graded firms headquartered in Tennessee

Firms by Disclosure Count

#	Firm	Disclosures	Offices	Grade
1	Sanford C. Bernstein & Co., LLC Nashville	35	27	D
2	B. Riley Wealth Management Memphis	22	69	C
3	Carty, Harding & Hearn, Inc. Memphis	20	10	B
4	Southstate Securities Corp. Memphis (Shelby)	10	16	B
5	&Partners Nashville	9	225	B
6	FHN Financial Securities Corp. Memphis	8	27	C
7	Rice Financial Products Company Nashville	6	8	B
8	Silver OAK Securities, Incorporated Jackson	6	137	B
9	Alliancebernstein Investments, Inc. Nashville	5	6	C
10	Trustfirst Knoxville	3	3	B
11	Brown Associates, Inc. Chattanooga	2	2	B
12	Home Financial Services, Inc. Knoxville	2	2	B
13	Jackson National Life Distributors LLC Franklin	2	5	C
14	ST Invest LLC Nashville	2	2	B
15	Avondale Partners, LLC Nashville	1	2	B
16	Brentwood Capital Advisors LLC Nashville	1	2	B
17	Conduent Securities, LLC Spencer	1	2	B
18	Harpeth Securities, LLC Nashville	1	2	B
19	Thoroughbred Financial Services, LLC Brentwood	1	8	B
20	Advanced Strategies Broker Dealer LLC Chattanooga	0	2	A
21	Alto Securities, LLC Nashville	0	2	A
22	Bailey & Co. Securities, LLC Brentwood	0	5	A
23	Creekstone Capital Franklin	0	2	A
24	CW Securities, LLC Knoxville	0	3	A
25	DCF, LLC Chattanooga	0	7	A
26	Fourbridges Securities, LLC Chattanooga	0	2	A
27	Gpwa, LLC Nashville	0	7	A
28	ICA, LLC Nashville	0	2	A
29	Memphis Capital Memphis	0	2	A
30	Modern Private Equity Partners, LLC Spencer	0	2	A
31	OM Partners, LLC Brentwood	0	1	A
32	P.J. Robb Variable, LLC Memphis	0	10	A
33	Pacific Gate Advisors, LLC Brentwood	0	2	A
34	PNFP Capital Markets, Inc. Nashville	0	5	A
35	Praxess Securities, LLC Nashville	0	3	A
36	Sanderlin Securities, LLC Memphis	0	2	A
37	Silvermark Partners LLC Nashville	0	3	A
38	Thompson Research, LLC Nashville	0	2	A
39	Trade Capital Markets (TCM) North America LLC Spencer	0	2	A
40	Utility Capital Partners, LLC Chattanooga	0	2	A
41	Velocityhealth Securities, Inc. Nashville	0	2	A
42	Wavecrest Securities LLC Brentwood	0	3	A

Inside Tennessee's Broker-Dealer Landscape

Tennessee has 42 actively registered broker-dealer firms in FINRA's public register, of which 23 (54.8%) carry a clean Grade-A record with no reportable BrokerCheck disclosures.

The state's aggregate disciplinary footprint totals 137 disclosures on BrokerCheck, averaging 3.3 per firm. Grade distribution across Tennessee's broker-dealers: 23 graded A, 14 graded B, 4 graded C, 1 graded D, and 0 graded F. That means 54.8% of graded firms hold an A and 2.4% fall into the D or F bands.

Grades reflect our internal model weighing disclosure volume against firm size and scope; they are editorial signals, not FINRA ratings. Disclosure totals on BrokerCheck represent reported events, not proven violations, large multistate firms headquartered in Tennessee will naturally carry more disclosures than small single-office firms. This page is informational only and is not financial, legal, or investment advice. Before hiring any Tennessee advisor, confirm the firm's current record at FINRA BrokerCheck and review the specific representative's individual CRD report.

Frequently asked questions

How many broker-dealer firms are registered in Tennessee?

Tennessee has 42 actively registered broker-dealer firms on FINRA BrokerCheck, of which 23 (54.8%) hold a clean Grade-A record with no reportable disclosures.

Which Tennessee broker-dealer has the most FINRA disclosures?

Among firms registered in Tennessee, Sanford C. Bernstein & Co., LLC carries the most reported BrokerCheck disclosures (35 across 27 branch offices). Disclosure totals reflect reported events, not proven violations, larger firms naturally carry more. Always review the specific records on FINRA BrokerCheck.

How are PlainAdvisorCheck safety grades calculated?

Grades are size-normalized: a firm's weighted disclosure load is divided by its branch-office footprint, then ranked within its size class. Firms with zero disclosures earn an A regardless of size. Grades are editorial signals, not FINRA ratings. See our methodology for the exact formula.

Is this official Tennessee broker data?

Yes. All firm records come from FINRA BrokerCheck and the SEC Investment Adviser Public Disclosure (IAPD) - the official public registries for U.S. broker-dealers. PlainAdvisorCheck aggregates and size-normalizes them; the underlying records are public domain.

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

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Data sourced from official FINRA BrokerCheck and SEC EDGAR enforcement records. See our methodology for details. Retrieved and formatted by PlainAdvisorCheck Editorial

Compiled by PlainAdvisorCheck Editorial, Financial Advisor Discipline Editorial Team

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 SEC/FINRA regulatory filing 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.