Harvestons Securities, Inc.

What Harvestons Securities, Inc. does

Harvestons Securities, Inc. (HSI) is a privately held, minority-owned full-service investment banking and institutional brokerage firm founded in 1993 and headquartered in Greenwood Village, Colorado, with additional regional offices in Chicago, Atlanta, and Memphis. The firm operates six integrated service lines: municipal finance, debt underwriting, equity underwriting, sales and trading, corporate finance, and customized solutions, serving municipalities, government entities, corporations, and institutional investors throughout the United States. It functions as senior manager, co-manager, selling group member, and placement agent on public offerings and private placements of taxable and tax-exempt bonds, and participates in equity underwriting syndicates to provide distribution access to first, second, and third tier institutional investors.

The firm generates revenue through transaction-based fees, including underwriting commissions, syndicate participation economics, advisory fees on private placements, and bid-ask spreads on fixed income and equity execution for pension plan sponsors, money managers, and corporate treasurers. Its underlying technology is a conventional investment banking platform: proprietary municipal finance modeling (cash flow modeling, debt structuring, sensitivity analysis, refunding analysis, cost vs. benefit analysis) paired with a fixed income sales and trading desk and an integrated equity desk that handles over-the-counter orders on an agency basis. There are no disclosed AI, machine learning, or proprietary technology platforms beyond standard financial modeling and trading infrastructure.

The firm's go-to-market is relationship-driven enterprise sales targeting municipal issuers and institutional investors, with a small senior team offering over 100 years of combined investment banking and capital markets experience. Its primary differentiator is minority-owned business enterprise (MBE) status, recognized by Black Enterprise magazine in 2000, which clients leverage to satisfy supplier diversity objectives. Visible deal credentials include more than $22 billion in municipal issues led by President & CEO Morgan Bassey, $7 billion by VP Brandy Johnson-Ward, and $3 billion in three years of City of Chicago transactions by Senior Vice President Kenneth Sawyer, indicating a boutique scale with execution concentrated in named banker relationships rather than platform-level distribution.

Name

Harvestons Securities, Inc.

Legal name

Harvestons Securities Inc.

Website

https://harvestons.com

Company type

Private

Founded year

1993

Operating status

Operating

Headcount range

11–50 employees

Short description

Harvestons Securities is a privately held, minority-owned investment banking and institutional brokerage firm founded in 1993, headquartered in Colorado with offices in Chicago, Atlanta, and Memphis. It underwrites municipal and corporate debt and equity, and provides institutional sales and trading to government issuers, corporations, and institutional investors across the United States.

Ownership category

akta.pro rank

Product category

Investment Banking

NAICS

Investment Banking and Securities Intermediation (52315), Securities and Commodity Contracts Intermediation and Brokerage (5231)

SIC

Security Brokers, Dealers & Flotation Companies (6211), Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Asset-Backed Securities (6189)

akta.pro primary industry

Municipal Bonds Trading (FSACAEAF)

akta.pro secondary industry

Investment Grade Corporate Bonds (FSACABAA)

Keywords

• Investment banking services
• Municipal bond underwriting
• Institutional brokerage
• Debt capital markets
• Equity underwriting syndicate

Headquarters

HQ city

Greenwood Village

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Debt Underwriting: Participation in public offerings and private placements of taxable and tax-exempt bonds. Revenue generated through underwriting fees and syndicate participation.
2. Equity Underwriting: Membership in equity underwriting syndicate offering diverse distribution to institutional investors. Revenue from underwriting commissions and syndicate fees.
3. Sales and Trading: Competitive and cost-effective order execution services for institutional investors including pension plan sponsors and money managers. Revenue generated through transaction fees and bid-offer spreads on fixed income and equity securities.
4. Corporate Finance Advisory: Equity and debt private placements, sales and trading, and underwriting services. Comprehensive transaction support including industry analysis, documentation, due diligence assistance, and negotiation support.
5. Municipal Finance: Structuring and underwriting of investment grade, un-rated, and credit-enhanced financings including general obligation revenue and lease-backed obligations. Revenue from structuring fees and underwriting commissions.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels3 records

Core offering

Harvestons Securities provides institutional investment banking and brokerage services, including the structuring and underwriting of municipal bonds, debt and equity underwriting, and sales and trading of fixed income and equity securities for institutional investors, municipalities, and corporate clients. The firm also delivers corporate finance advisory and customized capital markets solutions built on quantitative analysis and practical transaction experience.

Product overview

Harvestons Securities, Inc. is a minority-owned full-service investment banking and brokerage firm offering a unified suite of services centered on institutional investment banking and brokerage. The firm operates six integrated service lines: Municipal Finance, Debt Underwriting, Equity Underwriting, Sales and Trading, Corporate Finance, and Customized Solutions. These services collectively enable the firm to serve as senior manager, co-manager, selling group member, and placement agent for municipal and corporate clients across the capital markets.

Differentiator

Problem solved

Functional benefit

Products and services

• Municipal Finance
• Debt Underwriting
• Sales and Trading
• Equity Underwriting
• Corporate Finance
• Customized Solutions

Quantifiable outcome

• Over $22 billion in municipal issues managed by President & CEO Morgan Bassey as financial advisor and managing underwriter
• +3 more outcomes

Named customers10 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Scale indicators5 records

Recent moves2 records

Expansion highlights4 records

Direct peers

• M.R. Beal & Company: Minority-owned broker-dealer providing municipal underwriting, fixed income trading, and corporate finance services. Directly comparable in mission, ownership structure, and target client base (municipal issuers and institutional investors).
• Loop Capital Markets: Minority-owned investment bank specializing in municipal and corporate finance underwriting, fixed income sales and trading, and equity capital markets. Directly comparable minority-owned broker-dealer competing in the same public finance league tables.
• Hilltop Securities: Mid-size broker-dealer with a sizable public finance practice serving municipalities across the same geographies. Comparable in service offering though larger in scale and balance sheet.
• CastleOak Securities: Minority-owned institutional broker-dealer specializing in municipal and fixed income sales and trading, with a similar relationship-driven approach to pension plan and money manager clients.
• Roosevelt & Cross: Institutional broker-dealer focused on municipal bond new issue placement, secondary trading, and public finance advisory. Closely comparable niche specialist competing for similar municipal underwriting mandates.
• Siebert Williams Shank & Co. Minority-owned, full-service investment bank with a leading municipal finance practice and similar institutional brokerage and underwriting focus. The closest like-for-like comparable to Harvestons in terms of size, ownership profile, and product mix.
• Samuel A. Ramirez & Co. Hispanic-owned investment bank and broker-dealer with strong municipal bond underwriting, fixed income trading, and corporate finance capabilities. Comparable in scale, minority-owned positioning, and municipal finance specialization.

Broad incumbents

• Robert W. Baird & Co. Privately-held, employee-owned diversified broker-dealer with public finance and institutional equity/fixed income capabilities. Comparable in private ownership structure but operates at much greater scale and geographic breadth.
• Stifel Financial: Diversified full-service broker-dealer with institutional brokerage, public finance, and investment banking. Competes for many of the same municipal underwriting mandates but at substantially larger scale with broader product set.
• Piper Sandler: Diversified mid-size investment bank with a meaningful public finance practice and institutional brokerage. Overlaps with Harvestons on municipal underwriting but operates at substantially larger scale with broader product coverage.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

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 Harvestons Securities, Inc.