Broker-Dealers & Order Execution

Broker-Dealers are any individual, firm or organization in the business of buying or selling securities for their own account or others. When acting as a Broker, they execute orders on behalf of clients. When acting as a Dealer, a broker-dealer executes trades for their own accounts. Securities bought from other broker-dealers or clients may be sold to clients or other broker-dealers acting as a dealer, or the securities may become part of the broker-dealers holdings. Broker-Dealers may be independent, or part of another business - investment bank, investment companies, banks, etc.

Broker-Dealers are regulated by several public and private entities.

These include:

         FINRA - Financial Industry Regulatory Authority
         (Formerly the NASD - National Association of
         Security Dealers) - www.finra.org

               SEC - Securities and Exchange Commission -
          www.sec.gov

             SROs - Self-Regulatory Organizations (Note: FINRA
          is an SRO)

         State Regulatory Agencies - Broker-Dealers are
          regulated in each of the States in which they effect
          transactions

Broker-Dealers Include:

           Advantage Capital Corp. (AIG) - www.fscorp.com
       AIG Financial Advisors - www.aigfa.com
       Berthal Fisher & Co. - www.berthal.com
       Brecek & Young Inc. - www.brecek.com
       Cadaret, Grant & Co. Inc. - www.cadaretgrant.com
       Financial Network Investment Corp. (ING) - www.financialnetwork.com
       EFP Securities Inc. (Advance Equities) - www.advancedequities.com
       First Allied Securities - www.firstallied.com
       First Midwest Securities - www.firstmidwestsecurities.com
       First Securities Corp. (American International) - www.fscorp.com
       Geneos Wealth Mgmt. (GWM Holding) - www.geneoswealth.com
       Genworth Financial - www.genworthfinancialsecurities.com
       Great American Advisors - www.gaadvisors.com
       Gunnallen Financial - www.gunallen.com
       Harbour Investments - www.harbourinv.com
       ING Financial Partners - www.ingfinancialpartners.com
       Invest Financial Corp. - www.investfinancial.com
       Investment Centers og America - www.investmentcenter.com
       Investors Capital Corp. - www.investorscapital.com
       LPL Financial Services - www.lpl.com
       Multi-Financial Securities Corp. - www.us-ing.com
       NFP Securities Inc. - www.nfp.com
       National Planning Corp. - www.natplan.com
       Pacific West Financial Group - www.pwfinancial.com
       Planmember Securities - www.planmember.com
       Primvest Financial (ING) - www.primvest.com
       Princor Financial Services Corp. (Principal) - www.princor.com
       Proequities Inc. - www.proequities.com
       Raymond James Financial - www.advisorschoice.com
       Royal Alliance Associates - www.royalalliance.com
       Sammons Securities Co. - www.sammonsecurities.com
       Securian Financial - www.securianfinancial.com
       Securities America - www.securitiesamerica.com
       SII Investments - www.siionline.com
       Sterne Agee Financial - www.stereagee.com
       Summit Brokerage Services - www.summitbrokerage.com
       Triad Advisors - www.triad-advisors.com
         United Planners' Financial Services - www.unitedplanners.com
         Woodbury Financial Services - www.woodburyfinancial.com