Spartan Capital Securities

What Spartan Capital Securities does

Spartan Capital Securities, LLC is a privately held, FINRA-, SIPC-, and MSRB-registered broker-dealer and investment banking firm headquartered at 45 Broadway, New York, NY. Founded in 2008 and operating with 51-100 employees, the firm runs a full-service platform comprising five core product lines: Wealth Management, Investment Banking, Institutional Trading, Equity Research, and Special Purpose Vehicles, supplemented by two wholly-owned affiliates, Spartan Capital Private Wealth Management LLC and Spartan Capital Insurance Services LLC. The investment banking franchise focuses on small-cap and emerging growth issuers, acting as sales agent, placement agent, or lead underwriter for at-the-market offerings, PIPEs, private placements, and IPOs, with disclosed commissions of 3.75%-7% of gross proceeds and a $75 per-trade supplemental brokerage commission. The firm also distributes market commentary through Chief Market Economist Peter Cardillo's Cardillo's Corner and an annual investor conference that connects client issuers with institutional investors. Customer segments are horizontally split across HNW individuals and family offices (wealth management), public and private companies (capital markets), and institutional investors (trading and research).

Underlying technology is conventional broker-dealer infrastructure: order routing and custody are handled by Axos Clearing, with a self-serve client portal at investor-connect.com and SEC Rule 606 routing disclosures. Spartan holds CCPA privacy compliance, and its corporate structure includes a CCO transition (Theo Basis succeeded Kim Marie Monchik). The firm has come under significant regulatory scrutiny, with FINRA complaints alleging excessive trading and churning that generated $46 million in misconduct revenue across more than 1,200 accounts, a pre-IPO share scheme involving CEO John Dennis Lowry and former CCO Kim Marie Monchik, and a former broker's insider trading charges in March 2026. The firm is privately held with no disclosed parent company, institutional investors, or funding rounds.

Name

Spartan Capital Securities

Legal name

Spartan Capital Securities, LLC

Website

https://spartancapital.com

Company type

Private

Founded year

2023

Operating status

Operating

Headcount range

51–100 employees

Short description

Spartan Capital Securities is a privately held, FINRA-registered broker-dealer and investment bank in New York providing wealth management, investment banking, institutional trading, equity research, and capital markets services to small-cap issuers, HNW individuals, and institutional clients.

Ownership category

akta.pro rank

Product category

Investment Banking & Brokerage

NAICS

Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523), Portfolio Management and Investment Advice (523940), Other Financial Vehicles (525990)

SIC

Security Brokers, Dealers & Flotation Companies (6211), Investment Advice (6282)

akta.pro primary industry

Private Equity Fundraising Placement (FSAEALAB)

Keywords

• Investment banking services
• Wealth management advisory
• Institutional brokerage services
• Equity capital markets
• Securities trading execution

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Revenue model

1. Investment Banking Fees: Revenue generated from serving as sales agent, placement agent, or lead underwriter for at-the-market offerings, private placements, PIPE financings, and public offerings. The firm earns commissions typically ranging from 3.75% to 7% of gross proceeds raised for clients.
2. Brokerage Commissions: Transaction-based commissions from securities trading executed for client accounts. Trade confirms indicate a supplemental $75 commission per trade.
3. Wealth Management: Advisory and management fees from providing wealth management services to high-net-worth individuals and institutional clients.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

Spartan Capital Securities, LLC is a full-service registered broker-dealer and investment banking firm headquartered in New York. It provides wealth management for high-net-worth individuals and families, investment banking services (ATM offerings, private placements, PIPE financings, IPO underwriting) for public and private companies, institutional trading execution cleared through Axos Clearing, and equity research, supplemented by affiliated wealth and insurance entities.

Product overview

Spartan Capital Securities is a full-service broker-dealer and investment banking firm offering a unified platform of financial services. The core offerings include Wealth Management, Investment Banking, Institutional Trading, Equity Research, and Special Purpose Vehicles, supported by two corporate affiliates: Spartan Capital Private Wealth Management LLC and Spartan Capital Insurance Services LLC. The firm also publishes market commentary and economic outlooks through its Chief Market Economist.

Differentiator

Problem solved

Functional benefit

Brands

• Cardillo's Corner: Market commentary section featuring economic analysis and market updates from Chief Market Economist Peter Cardillo
• Spartan Capital Investor Conference

Products and services

• Wealth Management Global investment and wealth management strategies for long-term growth, delivered to high-net-worth individuals, families, and institutional clients by incorporating their long-term goals into a personalized investment strategy.
• Investment Banking Capital markets advisory and underwriting services for middle-market and emerging-growth public and private companies, including at-the-market (ATM) offerings, private placements, PIPE financings, and IPO underwriting, typically earning commissions of 3.75% to 7% of gross proceeds raised.
• Institutional Trading Institutional securities execution and order routing service for asset managers, family offices, and other institutional clients, with all orders routed through clearing firm Axos Clearing.
• Equity Research Equity and macro research services providing market analysis, sector outlooks, technical analysis, and economic commentary (including Cardillo's Corner) covering equities, gold, silver, crude oil, and fixed income markets for clients and the investing public.
• Special Purpose Vehicles Structured financial vehicles designed for specific investment or capital deployment purposes, offered to clients as customized structures.
• Spartan Capital Private Wealth Management LLC Wholly-owned corporate affiliate providing private wealth management, comprehensive financial planning, and investment advisory services to clients of the Spartan Capital group.
• Spartan Capital Insurance Services LLC Wholly-owned corporate affiliate offering insurance services to clients as part of the Spartan Capital group's comprehensive financial solutions offering.

Named customers9 records

Segments3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Six partnerships are on record, tiered core.

• Axos ClearingcoreOthersSpartan Capital Securities' clearing firm that handles order execution, settlement, and custody services. All orders are offered through Axos Clearing, which also provides SEC Rule 606 routing disclosures and excess SIPC coverage for client accounts.
• Spartan Capital Private Wealth Management LLCcoreStrategic or Co-development PartnerCorporate affiliate providing wealth management services under the Spartan Capital brand, offering comprehensive financial planning and investment advisory services.
• Spartan Capital Insurance Services LLCcoreStrategic or Co-development PartnerCorporate affiliate providing insurance services as part of the comprehensive financial solutions offered to clients.
• FINRAcoreOthersFinancial Industry Regulatory Authority - self-regulatory organization of which Spartan Capital Securities is a member, providing investor protection and market regulation.
• SIPCcoreOthersSecurities Investor Protection Corporation - provides protection for securities customers of member firms up to $500,000 including $250,000 for cash claims.
• MSRBcoreOthersMunicipal Securities Rulemaking Board - regulatory body for municipal securities dealers of which Spartan Capital Securities is a registered member.

Scale indicators1 record

Recent moves6 records

Expansion highlights5 records

Direct peers

• Maxim Group LLC: Full-service broker-dealer offering investment banking, institutional sales and trading, and wealth management to small/mid-cap companies — directly comparable service mix to Spartan Capital Securities.
• EF Hutton (Dominari Holdings): Small/mid-cap focused retail broker-dealer and investment bank that, like Spartan, serves as placement agent and underwriter for emerging growth issuers across ATM, PIPE, and IPO transactions. Highly comparable on clientele, deal structures, and capital markets focus.
• Aegis Capital Corp. FINRA-registered broker-dealer specializing in small-cap and micro-cap investment banking, placements, and trading — directly comparable to Spartan's role as sales/placement agent for emerging growth companies.
• The Benchmark Company: Institutional broker-dealer and investment bank focused on emerging growth and small-cap issuers, providing corporate finance, equity research, and trading — similar client roster and product breadth as Spartan.
• Westpark Capital: Small-cap focused investment bank and broker-dealer serving as placement agent, underwriter, and advisor for emerging growth companies, with comparable ATM/PIPE/IEO capabilities and similar NYC-headquartered footprint.
• Roth Capital Partners: Investment bank and broker-dealer focused on small and mid-cap companies, providing capital markets, sales and trading, research, and corporate advisory — directly competitive with Spartan across the same issuer profile.
• National Securities Corporation: Broker-dealer providing investment banking, capital markets, and wealth management services to small/mid-cap issuers and retail clients — directly competes with Spartan across retail brokerage and emerging growth IB mandates.
• ThinkEquity (a division of Fundamental Global): Small/mid-cap investment bank acting as lead manager and placement agent for IPOs, follow-ons, and PIPEs — closely mirroring Spartan's placement-agent model with emerging growth issuers.

Broad incumbents

• B. Riley Financial: Diversified financial services firm with a meaningful small/mid-cap capital markets and wealth management footprint, offering deeper scale than Spartan but competing for the same emerging-growth issuer mandates.
• Ladenburg Thalmann (now Osaic): Larger incumbent broker-dealer and wealth management platform serving retail and small-cap corporate clients with a fuller product set — provides breadth context for Spartan's more focused small/mid-cap franchise.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/SpartanCapSec

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments22 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Spartan Capital Securities