Securities brokerage firms: ranked by number of full-time, registered brokers in L.A. County.

EXECUTIVE SUMMARY

THERE are 4,638 licensed brokers currently working at the 25 largest securities brokerage firms in Los Angeles County in 2007, up slightly from the previous year.

Smith Barney continues to top the list with 517 brokers. The New York-based firm edged out AIG Advisor Group, which reported 508. No. 3 Wells Fargo added 34 brokers to its local offices, bringing its total to 506.

One change to this year's list is the absence of Zahorik Financial Services Inc., No. 24 last year. Pasadena-based Zahorik merged into Transamerica Financial Advisors Inc. and now offers securities through that company.

The regulatory body that oversees securities firms and representatives saw a major reorganization last year with the formation of the Financial Industry Regulation Authority. The non-governmental regulator was created in July through consolidation of the National Association of Securities Dealers and the member regulation functions of the New York Stock Exchange.

The new organization oversees more than 672,000 registered securities dealers and performs market regulation for Nasdaq, American Stock Exchange, International Securities Exchange and the Chicago Climate Exchange.

Overall, the 25 largest brokerage firms employ more than 8,000 people in 510 offices throughout the county.

THE PACESETTER

SMITH Barney, the brokerage unit of New York-based Citigroup Inc., remained the largest securities brokerage firm in L.A. County for the fifth consecutive year.

Many of the firm's 612 brokers focus on wealth management, a fee-based service that includes asset, risk and liability management.

Southern California is a prime market for the company because of the diverse economy. The entrepreneurial nature of the region allows for the creation of vast amounts of wealth compared with other regions.

[ILLUSTRATION OMITTED]

In addition to brokerage services, the company provides a wide array of financial services, including cash management, block trading, and mergers and acquisitions advisory for middle-market privately held companies.

Smith Barney has nearly 800 offices worldwide. The company serves 9.2 million domestic client accounts, with more than $1.5 trillion in assets under management. Clients range from small- and mid-sized businesses to large corporations and family foundations.

Smith Barney moved its offices to downtown Los Angeles in 2000 and has consolidated its operations into the CitiGroup Center. It now houses 850 employees in facility that contains the divisional, Southern California and mid-regional headquarters.

Rank    Brokerage (Ranking in 2007)       L.A. County Employment
        * name                             * securities brokers
        * address                          * investment bankers
                                             * total employees

   1    Smith Barney (1)                            612
        444 S. Flower St.,                          N/A
        26th Floor                                  925
        Los Angeles 90071

   2    Wells Fargo (3)                             506
        333 S. Grand Ave.,                           43
        Suite 1100                                  728
        Los Angeles 90071

   3    Merrill Lynch (5)                           476
        350 S. Grand Ave.,                           21
        Suite 2700                                  818
        Los Angeles 90071

   4    Farmers Financial                           468
        Solutions LLC (4)                             0
        30801 Agoura Road,                          471
        Building 1
        Agoura Hills 91301

   5    Morgan Stanley (6)                          383
        1999 Avenue of the                          N/A
        Stars, 24th Floor                           601
        Los Angeles 90067

   6    UBS Financial                               337
        Services Inc. (7)                           N/A
        725 S. Figueroa St.,                        615
        41st Floor
        Los Angeles 90017

   7    Wachovia Securities                         197
        LLC (9)                                     N/A
        225 S. Lake Ave.,                           295
        Suite 700
        Pasadena 91101

   8    Transamerica Financial                      188
        Advisors Inc. (8)                             0
        1150 S. Olive St.,                          233
        Suite T-2501
        Los Angeles 90015

   9    Wedbush Morgan                              153
        Securities (10)                              10
        1000 Wilshire Blvd.                         362
        Los Angeles 90017

  10    Sagemark Consulting                         100
        Lincoln Financial                             0
        Advisors                                    200
        31111 Agoura Road,
        Suite 200
        Westlake
        Village 91361

  11    Western International                       87
        Securities Inc. (14)                         1
        70 S. Lake Ave.,                            91
        Suite 700
        Pasadena 90010

  12    Bear Stearns & Co.                          76
        Inc. (15)                                   25
        1999 Avenue of the                         275
        Stars, Suite 3200
        Los Angeles 90067

  13    Imperial Capital LLC (18)                   73
        2000 Avenue of the Stars,                   24
        Ninth Floor South                           99
        Los Angeles 90067

  14    Crowell Weedon & Co. (13)                   71
        1 Wilshire Blvd.                             3
        Los Angeles 90017                          116

  15    Charles Schwab &                            58
        Co. Inc. (19)                               N/A
        1900 Avenue of the                          78
        Stars, Suite 101
        Los Angeles 90067

  16    RBC Dain Rauscher (17)                      57
        9665 Wilshire Blvd.,                        N/A
        Fourth Floor                                98
        Beverly Hills 90212

  17    Edward Jones (20)                           56
        870 Hampshire Road,                         N/A
        Suite A                                     N/A
        Westlake Village 91361

  18    City National                               47
        Securities Inc. (22)                        N/A
        400 N. Roxbury Drive                        55
        Beverly Hills 90210

  19    M.L. Stern & Co. LLC (21)                   35
        8350 Wilshire Blvd.                          0
        Beverly Hills 90211                         97

  20    B. Riley & Co. LLC (25)                     30
        11100 Santa Monica                           3
        Blvd., Suite 800                            34
        Los Angeles 90025

  21    Cantor Fitzgerald & Co.                     23
        1925 Century Park East                       0
        Los Angeles 90067                           35

  22    First Republic                              17
        Securities Co. LLC                           0
        1888 Century Park East                      17
        Los Angeles 90067

  23    The Summa Group of                           8
        Oppenheimer & Co.                           N/A
        10880 Wilshire                              10
        Blvd., fl 23
        Los Angeles 90024

  24    Clark Securities Inc.                        3
        1150 S. Olive St.,                          N/A
        Suite T-2120                                 5
        Los Angeles 90015

  25    Perennial Financial                          3
        Services                                     0
        11620 Wilshire Blvd.,                        3
        Suite 715
        Los Angeles 90025

Brokerage (Ranking in 2007)                  Services Offered
* name                                        (partial list)
* address

Smith Barney (1)                      wealth and financial planning,
444 S. Flower St.,                        hedge funds, portfolio
26th Floor                             management, estate planning,
Los Angeles 90071                         philanthropic services,
                                                  lending

Wells Fargo (3)                           brokerage, investment
333 S. Grand Ave.,                    management, insurance, wealth
Suite 1100                               management, banking and
Los Angeles 90071                             trust services

Merrill Lynch (5)                     advice and planning, business
350 S. Grand Ave.,                     banking, credit and lending,
Suite 2700                            estate planning, investments,
Los Angeles 90071                               retirement

Farmers Financial                       mutual funds, 529 college
Solutions LLC (4)                     savings plans, retirement plans,
30801 Agoura Road,                    qualified tax saving investment
Building 1                                 plans, variable life
Agoura Hills 91301                               insurance

Morgan Stanley (6)                    investment, financial planning,
1999 Avenue of the                     cash management and lending,
Stars, 24th Floor                       including mortgages, small
Los Angeles 90067                     business, retirement, insurance
                                       and private wealth management

UBS Financial                         brokerage, wealth management,
Services Inc. (7)                     retirement planning, insurance,
725 S. Figueroa St.,                   investments, lending services
41st Floor
Los Angeles 90017

Wachovia Securities                     investment and retirement
LLC (9)                               planning, access to lending and
225 S. Lake Ave.,                         other trust services,
Suite 700                                other financial services
Pasadena 91101

Transamerica Financial                financial planning, retirement
Advisors Inc. (8)                     planning, planning for education
1150 S. Olive St.,                      expenses, estate planning,
Suite T-2501                            fee-based asset management,
Los Angeles 90015                           securities brokerage

Wedbush Morgan                         brokerage, asset management,
Securities (10)                         investment banking, private
1000 Wilshire Blvd.                   capital, research, correspondent
Los Angeles 90017                        clearing, client banking,
                                              prime brokerage

Sagemark Consulting                   investment management, business
Lincoln Financial                     owner planning, estate and asset
Advisors                                   protection strategies,
31111 Agoura Road,                          retirement planning
Suite 200
Westlake
Village 91361

Western International                      independent brokerage
Securities Inc. (14)
70 S. Lake Ave.,
Suite 700
Pasadena 90010

Bear Stearns & Co.                       private client services,
Inc. (15)                               investment banking, public
1999 Avenue of the                     finance, institutional equity
Stars, Suite 3200                        sales, fixed income sales,
Los Angeles 90067                        commercial mortgage, prime
                                             brokerage/clearing

Imperial Capital LLC (18)             corporate finance, restructuring
2000 Avenue of the Stars,             and advisory services, sales and
Ninth Floor South                        trading of high yield and
Los Angeles 90067                     distressed bonds, convertible
                                         bonds, bank debt, equities

Crowell Weedon & Co. (13)              personal financial planning,
1 Wilshire Blvd.                       investment advisory services,
Los Angeles 90017                         customized retirement
                                        strategies, tax-advantaged
                                      investments, corporate finance,
                                           institutional trading

Charles Schwab &                      investment advisory services,
Co. Inc. (19)                          personal financial planning,
1900 Avenue of the                    active trader services, banking
Stars, Suite 101                         services, estate planning
Los Angeles 90067

RBC Dain Rauscher (17)                 full service securities firm
9665 Wilshire Blvd.,
Fourth Floor
Beverly Hills 90212

Edward Jones (20)                      stocks, bonds, mutual funds,
870 Hampshire Road,                       CDs, financial services
Suite A
Westlake Village 91361

City National                         municipal securities, treasury
Securities Inc. (22)                  and agency securities, corporate
400 N. Roxbury Drive                    bonds, mutual funds, equity
Beverly Hills 90210                        securities, 529 plans

M.L. Stern & Co. LLC (21)              bonds, stocks, mutual funds,
8350 Wilshire Blvd.                   annuities, insurance, retirement
Beverly Hills 90211                       plans, managed accounts

B. Riley & Co. LLC (25)                 investment banking, equity
11100 Santa Monica                    research, institutional equity
Blvd., Suite 800                        and fixed income trading,
Los Angeles 90025                         market making and prime
                                                 brokerage

Cantor Fitzgerald & Co.                 institutional block trading
1925 Century Park East
Los Angeles 90067

First Republic                        fixed income, short-term cash
Securities Co. LLC                        management, alternative
1888 Century Park East                  investments, self-directed
Los Angeles 90067                                brokerage

The Summa Group of                       Asset Management, Estate
Oppenheimer & Co.                      Planning, Financial Planning,
10880 Wilshire                               investment review
Blvd., fl 23
Los Angeles 90024

Clark Securities Inc.                  variable products and mutual
1150 S. Olive St.,                        funds to institutional
Suite T-2120                                consulting clients
Los Angeles 90015

Perennial Financial                   stocks, bonds, estate planning,
Services                               asset allocation, annuities
11620 Wilshire Blvd.,                       and life insurance
Suite 715
Los Angeles 90025

Brokerage (Ranking in 2007)                       Profile
* name                                       * parent company
* address                                     * headquarters
                                         * offices (county/total)

Smith Barney (1)                              CitiGroup Inc.
444 S. Flower St.,                               New York
26th Floor                                        23/800
Los Angeles 90071

Wells Fargo (3)                              Wells Fargo & Co.
333 S. Grand Ave.,                             San Francisco
Suite 1100                                        269/N/A
Los Angeles 90071

Merrill Lynch (5)                        Merrill Lynch & Co. Inc.
350 S. Grand Ave.,                               New York
Suite 2700                                        16/703
Los Angeles 90071

Farmers Financial                         Farmers Insurance Group
Solutions LLC (4)                              Agoura Hills
30801 Agoura Road,                                45/627
Building 1
Agoura Hills 91301

Morgan Stanley (6)                            Morgan Stanley
1999 Avenue of the                               New York
Stars, 24th Floor                                 11/600
Los Angeles 90067

UBS Financial                                     UBS AG
Services Inc. (7)                           Zurich, Switzerland
725 S. Figueroa St.,                               8/N/A
41st Floor
Los Angeles 90017

Wachovia Securities                           Wachovia Corp.
LLC (9)                                        Richmond, Va.
225 S. Lake Ave.,                                53/3,742
Suite 700
Pasadena 91101

Transamerica Financial                             AEGON
Advisors Inc. (8)                               Los Angeles
1150 S. Olive St.,                                  1/1
Suite T-2501
Los Angeles 90015

Wedbush Morgan                                 Wedbush Inc.
Securities (10)                                 Los Angeles
1000 Wilshire Blvd.                                3/26
Los Angeles 90017

Sagemark Consulting                       Lincoln Financial Group
Lincoln Financial                              Philadelphia
Advisors                                           1/57
31111 Agoura Road,
Suite 200
Westlake
Village 91361

Western International                 Concept Brokerage Holding Corp.
Securities Inc. (14)                             Pasadena
70 S. Lake Ave.,                                   6/26
Suite 700
Pasadena 90010

Bear Stearns & Co.                                  N/A
Inc. (15)                                        New York
1999 Avenue of the                                 1/19
Stars, Suite 3200
Los Angeles 90067

Imperial Capital LLC (18)               Imperial Capital Group LLC
2000 Avenue of the Stars,                       Los Angeles
Ninth Floor South                                   1/4
Los Angeles 90067

Crowell Weedon & Co. (13)                           N/A
1 Wilshire Blvd.                                Los Angeles
Los Angeles 90017                                  6/11

Charles Schwab &                                    N/A
Co. Inc. (19)                                  San Francisco
1900 Avenue of the                                12/273
Stars, Suite 101
Los Angeles 90067

RBC Dain Rauscher (17)                     Royal Bank of Canada
9665 Wilshire Blvd.,                          Minneapolis (1)
Fourth Floor                                       6/161
Beverly Hills 90212

Edward Jones (20)                                   N/A
870 Hampshire Road,                              St. Louis
Suite A                                          51/9,735
Westlake Village 91361

City National                               City National Bank
Securities Inc. (22)                           Beverly Hills
400 N. Roxbury Drive                               3/12
Beverly Hills 90210

M.L. Stern & Co. LLC (21)               Pacific Life Insurance Co.
8350 Wilshire Blvd.                            Beverly Hills
Beverly Hills 90211                                 1/8

B. Riley & Co. LLC (25)                             N/A
11100 Santa Monica                              Los Angeles
Blvd., Suite 800                                    1/5
Los Angeles 90025

Cantor Fitzgerald & Co.                      Cantor Fitzgerald
1925 Century Park East                           New York
Los Angeles 90067                                  1/22

First Republic                              First Republic Bank
Securities Co. LLC                             San Francisco
1888 Century Park East                             4/30
Los Angeles 90067

The Summa Group of                        Oppenheimer & Co. Inc.
Oppenheimer & Co.                               Los Angeles
10880 Wilshire                                     2/N/A
Blvd., fl 23
Los Angeles 90024

Clark Securities Inc.                      Clark Consulting Inc.
1150 S. Olive St.,                              Los Angeles
Suite T-2120                                        1/4
Los Angeles 90015

Perennial Financial                            LPL Financial
Services                                            N/A
11620 Wilshire Blvd.,                             N/A/N/A
Suite 715
Los Angeles 90025

Brokerage (Ranking in 2007)                 Top Local Executive
* name                                            * name
* address                                         * title
                                                  * phone

Smith Barney (1)                             Jerrold Eberhardt
444 S. Flower St.,                     sr. executive vice president
26th Floor                                    [phone]
Los Angeles 90071

Wells Fargo (3)                                  Joe DeFur
333 S. Grand Ave.,                         exec. v.p., regional
Suite 1100                                   managing director
Los Angeles 90071                             [phone]

Merrill Lynch (5)                             Gregory J. Mech
350 S. Grand Ave.,                          division director,
Suite 2700                                   Western division
Los Angeles 90071                             [phone]

Farmers Financial                               Don Mealer
Solutions LLC (4)                                president
30801 Agoura Road,                            [phone]
Building 1
Agoura Hills 91301

Morgan Stanley (6)                            Margaret Black
1999 Avenue of the                          managing director,
Stars, 24th Floor                            Western division
Los Angeles 90067                                director
                                              [phone]

UBS Financial                                 James E. Layden
Services Inc. (7)                           sr. v.p., Southern
725 S. Figueroa St.,                       Pacific reg. manager
41st Floor                                    [phone]
Los Angeles 90017

Wachovia Securities                           Steve Townsend
LLC (9)                                       market manager
225 S. Lake Ave.,                             [phone]
Suite 700
Pasadena 91101

Transamerica Financial                        Sandra C. Brown
Advisors Inc. (8)                             president, coo
1150 S. Olive St.,                            [phone]
Suite T-2501
Los Angeles 90015

Wedbush Morgan                                Edward Wedbush
Securities (10)                               ceo, president
1000 Wilshire Blvd.                           [phone]
Los Angeles 90017

Sagemark Consulting                            Richard Smith
Lincoln Financial                          managing principal,
Advisors                                     Westlake Village
31111 Agoura Road,                            [phone]
Suite 200
Westlake
Village 91361

Western International                          Donald Bizub
Securities Inc. (14)                                ceo
70 S. Lake Ave.,                              [phone]
Suite 700
Pasadena 90010

Bear Stearns & Co.                     John R. Loftus/Garrett Bland
Inc. (15)                             sr. managing directors, branch
1999 Avenue of the                        manager/exec. director
Stars, Suite 3200                             [phone]
Los Angeles 90067

Imperial Capital LLC (18)               Jason Reese/Randall Wooster
2000 Avenue of the Stars,                      co-presidents
Ninth Floor South                             [phone]
Los Angeles 90067

Crowell Weedon & Co. (13)                    Andrew E. Crowell
1 Wilshire Blvd.                             managing partner
Los Angeles 90017                             [phone]

Charles Schwab &                            Robert Kightlinger
Co. Inc. (19)                            regional branch executive
1900 Avenue of the                            [phone]
Stars, Suite 101
Los Angeles 90067

RBC Dain Rauscher (17)                       Ken Sullivan Jr.
9665 Wilshire Blvd.,                  sr. managing dir., complex dir.
Fourth Floor                                  [phone]
Beverly Hills 90212

Edward Jones (20)                               Chris Hardt
870 Hampshire Road,                           regional leader
Suite A                                       [phone]
Westlake Village 91361

City National                                Michael Nunnelee
Securities Inc. (22)                             president
400 N. Roxbury Drive                          [phone]
Beverly Hills 90210

M.L. Stern & Co. LLC (21)                    Milford L. Stern
8350 Wilshire Blvd.                           ceo, president
Beverly Hills 90211                           [phone]

B. Riley & Co. LLC (25)                       Thomas Kelleher
11100 Santa Monica                                  ceo
Blvd., Suite 800                              [phone]
Los Angeles 90025

Cantor Fitzgerald & Co.                          Bill Rice
1925 Century Park East                  sr. v.p., managing director
Los Angeles 90067                             [phone]

First Republic                                Mary Deckebach
Securities Co. LLC                      regional managing director
1888 Century Park East                        [phone]
Los Angeles 90067

The Summa Group of                             Robert Dalie
Oppenheimer & Co.                            v.p., investments
10880 Wilshire                                [phone]
Blvd., fl 23
Los Angeles 90024

Clark Securities Inc.                           Brenda Imes
1150 S. Olive St.,                              exec. v.p.
Suite T-2120                                  [phone]
Los Angeles 90015

Perennial Financial                           John B. Petrick
Services                                            ceo
11620 Wilshire Blvd.,                         [phone]
Suite 715
Los Angeles 90025

Note: The information on this list was provided by representatives of
the companies themselves. Brokerages are ranked by the number of
registered, full-time securities brokers and the number of employess in
L.A. County offices, respectively. To the best of our knowledge, this
information is accurate as of press time. While every effort is made to
ensure the accuracy and thoroughness of the list, omissions and
typographical errors sometimes occur. Please send corrections or
additions on company letterhead to the Research Department, Los
Angeles Business Journal, 5700 Wilshire Blvd., Suite 170, Los Angeles
90036. [c] 2008 Los Angeles Business Journal. This list may not be
reprinted in whole or in part without prior written permission from
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