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March 1, 2013

Guide to Correspondent Clearing Firms

By Editorial Staff

Also in this article

First Clearing Correspondent Services

1-888-322-2532 One North Jefferson Avenue St. Louis, MO 63103

About First Clearing: Headquartered in St. Louis, MO, First Clearing builds relationships with full-service and independent retail broker-dealers, their leaders, and their advisors, empowering each to compete and succeed. By helping broker-dealers protect and grow their businesses, as well as run them efficiently, First Clearing is taking the clearing business in a new direction.


Because of our long heritage in the full-service brokerage business, we provide industry insight coupled with the deep resources and brand strength of Wells Fargo & Company, one of the nation's strongest financial services companies. Client firms have access to a full range of investment, advisory, and banking products, including industry-leading research, alternative investments, fixed income, lending, and retirement and trust services. First Clearing provides advanced advisory workstation and workflow technologies, risk-management and compliance support, and advisor recruiting services. Our Growth Accelerator® program, a unique professional-development and practice-consulting program, is designed to help advisors help their clients succeed financially.

First Clearing is a member of the New York Stock Exchange, NASDAQ, and other major exchanges. Investment and Insurance products:

NOT FDIC-Insured | NO Bank Guarantee | MAY Lose Value

First Clearing, LLC is a registered broker dealer and non-bank affiliate of Wells Fargo & Company.

Number of Correspondents: 88

Correspondents: Retail, Institutional, and Money Management

Parent company: Wells Fargo & Company

Affiliate companies: Wells Fargo Advisors, Wells Fargo Financial Network

Contact: David Williams, Managing Director, First Clearing 1-888-322-2532 One North Jefferson Avenue St. Louis, MO 63103

First Southwest Company Correspondent Clearing Services

325 N. St. Paul, Suite 800, Dallas, Texas 75201, (800) 678-3792, fax: (214) 953-8736,

Services: Fixed-Income Product Specialists. Founded in 1946, First Southwest Co. is one of the only privately held investment banking and correspondent clearing firms in the country. First Southwest utilizes the SIS back-office system, including FSAccess, an Internet-based front end that details real-time customer account balance and positions, cost-basis accounting, portfolio reports, performance reviews, contact management and a truly integrated platform for Registered Investment Advisors.

In addition, First Southwest has a real-time interface with Bloomberg that allows trades entered on clients' Bloomberg terminal to post in real time directly to the back office. First Southwest can also accept uploads from other trading platforms, such as Brass. The firm can provide clients with complete Internet solutions, including trade confirmations, account statements, forms and reports via the Web.

Number of correspondents: 75

Parent Company: First Southwest Company

Correspondents: Retail and institutional broker-dealers

Contact: Paul Bashus, VP (866) 299-8755,; Joe Turk, VP (866) 563-8875,

Goldman Sachs Execution & Clearing, L.P.

30 Hudson Street, Jersey City, NJ 07302, (212) 357-2266,