Ross, Sinclaire & Associates, LLC

What Ross, Sinclaire & Associates, LLC does

Ross, Sinclaire & Associates, LLC, operating as RSA Advisors, is a Kentucky-based municipal advisory firm providing bond issuance advisory and related public finance services to government entities. Founded in 1989 and headquartered at 147 E Third Street in Lexington, Kentucky, the firm holds active registrations with both the U.S. Securities and Exchange Commission (SEC) and the Municipal Securities Rulemaking Board (MSRB), credentials required to advise municipal issuers on debt transactions.

The firm's core offering is municipal bond advisory, structured around specialized service modules including Project Financing for Schools, Investment Services, Economic Development Projects, Credit Enhancement, and Special Programs. RSA Advisors structures, prices, and places bond issuances for school districts, counties, cities, water districts, and public finance corporations, with recent disclosed transactions including a $35.41 million Jessamine County judicial center bond, a $25 million Northern Kentucky Water District bond anticipation note, a $13.36 million Madison County School District financing, and a $2.5 million Fairview ISD issuance. The firm also advised on Kentucky's first local government public-private partnership (P3) project through the Kentucky Bond Corporation.

The business model is a fee-based advisory practice targeting Kentucky municipal governments and education finance corporations, with revenue generated through transaction-based advisory fees on bond placements, refinancing mandates, and credit enhancement work. Distribution is relationship-driven, primarily through direct engagement with municipal officials and school district administrators, supported by a public bond calendar and news presence. The firm employs between 101 and 250 professionals, indicating a mid-sized regional practice rather than a national platform, with no disclosed parent company, outside investors, or subsidiary structure.

Name

Ross, Sinclaire & Associates, LLC

Legal name

RSA Advisors, LLC

Website

https://rsanet.com

Company type

Private

Founded year

1989

Operating status

Operating

Headcount range

101–250 employees

Short description

RSA Advisors is a Kentucky-based registered municipal advisory firm providing bond issuance, project financing, and credit enhancement services to school districts, cities, counties, and public corporations across the Commonwealth of Kentucky.

Ownership category

akta.pro rank

Product category

Municipal Advisory Services

NAICS

Portfolio Management and Investment Advice (523940)

SIC

Services-Engineering, Accounting, Research, Management (8700)

akta.pro industry

PRIMARYBPAHAOAF

Fairness Opinions & Independent Financial Advice

Business & Public Services/Professional Services (Legal, Accounting, Consulting)/M&A, Transaction & Restructuring Advisory

Keywords

• Municipal bond advisory
• Public finance services
• School bond financing
• Municipal debt refinancing
• Government capital financing

Headquarters

HQ city

Cincinnati

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Distribution channels1 record

Marketing channels2 records

Core offering

Ross, Sinclaire & Associates, LLC (dba RSA Advisors) is a registered municipal advisory firm providing bond structuring, issuance, and placement services for government entities, school districts, and public corporations primarily in Kentucky. The firm also delivers project financing for school construction, investment services for municipal securities, economic development financing, credit enhancement strategies, and access to specialized government bond programs.

Product overview

RSA Advisors, LLC is a municipal bond advisory firm operating as a unified service offering centered on public finance. The core offering consists of municipal bond advisory services, supported by specialized modules including Project Financing for Schools, Investment Services, Economic Development Projects, Credit Enhancement, Special Programs, and a Bond Calendar that tracks recent bond sales. The company primarily serves school districts, local governments, and public corporations in Kentucky and surrounding regions.

Differentiator

Problem solved

Functional benefit

Products and services

• Municipal Bond Advisory Services Provides municipal bond advisory services including bond structuring, issuance, and placement for government entities, school districts, and public corporations.
• Project Financing for Schools Specialized financing solutions for school building projects, including revenue bonds and financing corporation structures for K-12 public school facilities.
• Investment Services Investment advisory services for municipal securities and public finance instruments for government clients.
• Economic Development Projects Financing solutions for local government economic development initiatives and infrastructure projects.
• Credit Enhancement Strategies and instruments to improve credit ratings and borrowing terms for municipal issuers.
• Special Programs Access to specialized government and quasi-government bond programs and funding mechanisms.

Quantifiable outcome

• $85.44 million+ in recent bond issuances across multiple Kentucky municipalities
• +1 more outcomes

Named customers8 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators2 records

Recent moves4 records

Expansion highlights3 records

Broad incumbents

• Robert W. Baird: Robert W. Baird provides public finance and municipal advisory services to state and local government clients across the U.S., serving the same issuer categories as RSA Advisors but as part of a broader diversified financial services platform.
• Piper Sandler: Piper Sandler operates a large public finance division providing municipal underwriting and advisory services across multiple states. As a broad incumbent, it competes for larger issuances in Kentucky and adjacent geographies while offering a much wider product portfolio than RSA.
• Stifel: Stifel Financial has a sizable public finance practice offering municipal underwriting and financial advisory. As a broad incumbent, it serves overlapping issuer types (school districts, cities, counties) and competes with RSA Advisors for state and local government mandates.
• Raymond James: Raymond James operates a public finance and investment banking group serving municipal issuers with advisory, underwriting, and investment services — overlapping with RSA Advisors in issuer type and bond advisory scope, though at much greater scale.

Direct peers

• Hilltop Securities: Hilltop Securities operates a major public finance / municipal advisory practice serving cities, counties, school districts, and special districts with bond underwriting and advisory services — overlapping directly with RSA Advisors' municipal bond advisory offering.
• PFM Group: PFM Group is one of the largest independent registered municipal advisory firms in the U.S., directly comparable to RSA Advisors in providing bond issuance advisory, financial planning, and investment services to state and local governments, school districts, and public corporations.
• EDA Consulting / Springsted: Springsted is an independent registered municipal advisor providing public finance advisory services to cities, counties, school districts, and public authorities — a direct peer to RSA Advisors in both service scope and client type.
• KNN Public Finance: KNN Public Finance is a registered municipal advisor specializing in K-12 school district and municipal bond advisory services, directly comparable to RSA Advisors' education finance and municipal bond focus.
• Acacia Financial Group: Acacia Financial Group is an independent registered municipal advisor providing bond issuance advisory, financial advisory, and investment services to public-sector clients, directly comparable in scope and client type to RSA Advisors.

Regional players

• Frost Bank / Frost Investment Advisors: Frost Bank's public finance group provides municipal advisory and underwriting services concentrated in Texas and surrounding states. While regionally focused on a different geography, Frost is comparable in business model and target-client type to RSA Advisors' Kentucky-centric municipal advisory practice.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat3 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/rsa_2

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

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 Ross, Sinclaire & Associates, LLC