Morgan Group Holding

What Morgan Group Holding does

Morgan Group Holding Co. (OTC: MGHL) is a Delaware-incorporated holding company headquartered in Rye, New York, that operates through its wholly-owned subsidiary G.research, LLC, a FINRA-regulated broker-dealer registered under the Exchange Act. The company was incorporated in November 2001 as a spin-off from LICT Corporation to hold a controlling interest in The Morgan Group, Inc. (a vehicle delivery business), which filed for Chapter 11 bankruptcy in October 2002 after its liability insurance lapsed. The holding company remained largely inactive until 2012 when Jonathan P. Evans was appointed CEO and until 2019 when it acquired G.research from Associated Capital Group (NYSE:AC) in exchange for 50,000,000 shares, leaving AC with approximately 83% ownership.

G.research, the company's sole operating subsidiary, provides institutional research services and acts as an underwriter for securities offerings. Revenue is derived primarily from three streams: institutional research subscription or engagement fees, underwriting fees on securities offerings, and selling concessions from underwriting participations. The subsidiary sells directly to institutional investors, with FINRA regulation providing the regulatory framework for its broker-dealer activities. Customer segmentation is narrowly focused on institutional clients within the United States.

The go-to-market motion is sales-led, with services delivered through direct institutional relationships. Distribution is single-channel domestic (United States), with marketing conducted primarily through SEC filings, press releases, and the company website. The parent company has 1-10 employees, operates a lean leadership team (CEO Evans, President Amabile, CFO Dolan, VP Corporate Development Fikre), and as of 2025 has been the subject of an announced acquisition by The LGL Group, Inc.

Name

Morgan Group Holding

Legal name

Morgan Group Holding Co.

Website

https://morgangroupholdingco.com

Company type

Private

Founded year

2001

Operating status

Operating

Headcount range

1–10 employees

Short description

Morgan Group Holding Co. is a Delaware-incorporated holding company (OTC: MGHL) that wholly owns G.research, LLC, a FINRA-regulated broker-dealer providing institutional research, underwriting, and selling concession services to institutional clients in the United States.

Ownership category

akta.pro rank

Product category

Institutional Brokerage Services

NAICS

Portfolio Management and Investment Advice (52394), Offices of Other Holding Companies (551112)

SIC

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

akta.pro primary industry

Sector-Specific Industry Research (FSACAGAL)

akta.pro secondary industry

Industry & Sector Research (Syndicated/Custom) (BPAHALAE)

Keywords

• Institutional research services
• Securities brokerage
• Underwriting services
• Broker-dealer
• Selling concessions

Headquarters

HQ city

Rye

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Institutional Research Services: g.research derives primary revenues from institutional research services provided to institutional investors and clients.
2. Underwriting Fees and Selling Concessions: g.research acts as an underwriter and earns fees and selling concessions from securities offerings.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels2 records

Core offering

Morgan Group Holding Co. operates through its wholly-owned subsidiary G.research, LLC, a FINRA-regulated broker-dealer that provides institutional research services, acts as an underwriter for securities offerings, and earns selling concessions on those offerings. The firm is incorporated in Delaware and headquartered in Rye, New York, with operations focused on U.S. institutional clients.

Product overview

Morgan Group Holding Co. is a holding company that operates through its subsidiary G.Research, LLC, an institutional research and securities brokerage business. G.Research serves as a broker-dealer registered under the Exchange Act and regulated by FINRA, providing underwriting services and institutional research. The company generates revenue primarily from institutional research services, underwriting fees, and selling concessions.

Differentiator

Problem solved

Functional benefit

Brands

• g.research: Institutional research and securities brokerage business; broker-dealer registered under the Exchange Act and regulated by FINRA; provides underwriting services and institutional research services

Products and services

• G.research G.research, LLC is the wholly-owned broker-dealer subsidiary of Morgan Group Holding Co. It is registered under the Exchange Act and regulated by FINRA, providing institutional research services, underwriting services, and selling concessions to institutional investors and clients in the United States.

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators2 records

Recent moves9 records

Expansion highlights2 records

Direct peers

• B. Riley Financial: Diversified financial services firm with institutional research, investment banking, and underwriting capabilities. Comparable operating model as a multi-service broker-dealer serving institutional clients.
• Canaccord Genuity Group: Independent mid-market broker-dealer focused on institutional research and equity underwriting for small- and mid-cap issuers. Directly comparable services and customer base to G.research.
• Oppenheimer Holdings: Mid-size broker-dealer offering institutional research, equity underwriting, and sales/trading. Closely comparable as a regulated broker-dealer serving institutional clients with a research-led business model.
• ThinkEquity: Smaller broker-dealer providing institutional research and equity underwriting for small-cap issuers. Comparable niche positioning within the institutional research and capital-markets ecosystem.
• Ladenburg Thalmann Financial Services: Smaller broker-dealer and investment banking group offering institutional research and capital-markets services. Comparable scale and product set to Morgan Group Holding/G.research.
• Maxim Group: Independent full-service broker-dealer with institutional research, investment banking, and equity capital markets services. Similar institutional client focus and underwriting capabilities.
• JMP Group (Citizens JMP): Broker-dealer focused on small- and mid-cap institutional research, equity research, and investment banking. Comparable niche research-and-underwriting focus for institutional clients.

Broad incumbents

• GAMCO Investors: Long-standing Gabelli-affiliated asset manager and institutional research provider. Comparable as a sector-focused research and investment-advisory business sharing the Gabelli brand and overlapping research distribution channels.
• Associated Capital Group: NYSE-listed parent company of Morgan Group Holding that held G.research prior to the 2019 spin-into Morgan. Directly comparable as a holding company with institutional research and capital-markets exposure tied to the Gabelli ecosystem.

Others

• LGL Group: Strategic acquirer that has announced an acquisition of Morgan Group Holding (2025-11-13). Comparable as a holding-company acquirer but does not directly compete; relevant as the pending parent and source of strategic direction.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks6 records

Key highlights5 records

Customer concentration

• LinkedInlinkedin.com/company/morgan-group-holding-co

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about Morgan Group Holding