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InvestorTrustHub · Massachusetts

Massachusetts Investment Adviser & Securities Intelligence

The Securities Division of the Massachusetts Secretary of the Commonwealth is the state securities regulator under the Massachusetts Uniform Securities Act. IARD and CRD are filing infrastructure; IAPD and BrokerCheck are public research tools. None of them is the regulator. A Massachusetts state-registered adviser is not an SEC-registered adviser with a Massachusetts notice filing, not an exempt reporting adviser, and not simply a firm with a Massachusetts office. A representative is a person, not a firm. A broker-dealer is not an investment adviser. A Division complaint states allegations; it is not a finding. There is no combined Massachusetts adviser total. This page does not rank advisers, give investment advice, or publish a Trust Score.

We organize the evidence. You decide.

Research Massachusetts-headquartered SEC/IARD firmsVerify on IAPD

State of the record

IAPD Massachusetts state IA · ERA · Notice · Principal office

773

IAPD Massachusetts state IA (APPROVED)

Distinct firm CRDs with StateRgstn/Rgltr/@Cd=MA and status APPROVED.

Trace this number

Source. https://reports.adviserinfo.sec.gov/reports/CompilationReports/IA_FIRM_STATE_Feed_09_17_2026.xml.gz

Source date. 2026-09-17

Coverage. ACQUIRED_IAPD_STATE_COMPILATION

Grain. state-registered investment adviser firm; registration jurisdiction = MA

Calculation. 794 MA StateRgstn rows: 773 APPROVED, 10 CONDREST, 11 TERMREQUEST (termination requested). Filter is Rgltr/@Cd=MA, not address; 259 of the 794 list a Massachusetts main office.

Caveat. Massachusetts state IA registration is not SEC registration, not a federal notice filing, not ERA, and not a principal office. CONDREST and TERMREQUEST rows are reported separately; verify current status on IAPD.

351

State ERA

Exempt reporting advisers reporting to Massachusetts. Not state-registered IA.

Trace this number

Source. IA_FIRM_STATE_Feed_09_17_2026

Source date. 2026-09-17

Coverage. ACQUIRED_IAPD_STATE_COMPILATION

Grain. ERA/Rgltr/@Cd=MA

Calculation. 351 distinct firm CRDs, all ACTIVE; overlap with Massachusetts state IA = 0.

Caveat. An exempt reporting adviser is not a Massachusetts state-registered IA and not an SEC RIA.

3,272

Notice

SEC-registered advisers with a Massachusetts notice filing. Not state IA.

Trace this number

Source. IA_FIRM_SEC_Feed_09_17_2026

Source date. 2026-09-17

Coverage. ACQUIRED_IAPD_SEC_COMPILATION

Grain. NoticeFiled/States/@RgltrCd=MA and status FILED

Calculation. 3272 distinct CRDs. Exact CRD overlap with APPROVED state IA = 6.

Caveat. A notice filing is not Massachusetts state IA registration.

803

Principal office

SEC/IARD roster firms with a Massachusetts principal office. Not registration.

Trace this number

Source. SEC IARD firm compilation / reconciled roster geography

Source date. 2026-08-27

Coverage. National roster overlay

Grain. SEC IARD roster firm with principal-office region = MA

Calculation. COUNT of roster firms with principal-office region MA = 803. Raw 2026-09-17 compilation MainAddr/@State=MA = 807.

Caveat. A Massachusetts principal office is not Massachusetts state IA registration and is not a notice filing. These firms already exist in the federal graph.

Representatives, broker-dealers and agents stay separate

Investment adviser representatives register through IARD/CRD. A representative is a person; InvestorTrustHub does not publish a Massachusetts representative directory, and representatives are never added to firm counts. Broker-dealers and their agents are verified through CRD and BrokerCheck. A Massachusetts-only broker-dealer or agent bulk roster was not acquired. The Division can provide registration status and disciplinary records for broker-dealers, agents, investment advisers and representatives on request.

Securities Division enforcement archive, 2012–2026

The Division's enforcement actions archive lists 144 announcements from 2012 to 2026, linking 181 documents. Each document keeps the type the Division gives it. A complaint states allegations; it is not a finding. A consent order or other order is kept as listed. Document count is not matter count: only printed docket numbers are deduplicated (65 dockets on 62 announcements), so no unique-matter total is claimed. The linked documents were not parsed here, relief amounts are not totaled, and nothing is attached to a firm or person profile by name. For actions before 2012, the Division asks the public to contact it.

  • Complaint: 81
  • Consent Order: 75
  • Exhibits: 10
  • Order: 7
  • Administrative Complaint: 3
  • Amended Complaint: 1
  • Cease and Desist Order: 1
  • Ex Parte Order to Cease and Desist: 1
  • Memorandum: 1
  • Suspension Order: 1

Most recent announcements

  • Galvin Fines TradeZero $750,000 over Cybersecurity and Automated Account Approval Failures · 2026-09-14 · Consent Order
  • Galvin Charges Croft School CEO with Fraud · 2026-06-30 · Complaint
  • Galvin Fines Fidelity $1.25 Million Over Data Breach Impacting Massachusetts Residents · 2026-04-27 · Consent Order
  • Galvin Fines Online Investment Adviser $500,000 Over Misleading Social Media Ads · 2026-03-30 · Consent Order
  • Galvin Charges Worcester Pastor in Real Estate Securities Scheme that Defrauded Parishioners · 2026-02-11 · Complaint
  • Galvin Leads Nationwide Effort to Recover $19 Million for Brokerage Customers · 2025-06-09 · Consent Order · Consent Order · Consent Order · Consent Order · Consent Order
  • Galvin Orders Man who used Investor Funds for Personal Use to Return Money · 2025-04-17 · Consent Order
  • Galvin Cracks Down on Student Loan Refinancer’s Fraudulent Ads · 2025-02-03 · Consent Order

Complaints

The Division's Enforcement Section investigates investor complaints. No provider-level complaint dataset is published, so this page has no complaint count. An investor complaint is not a Division complaint, and neither is an order or a finding.

What this page does not mean

  • Do not add state IA + ERA + notice + principal office, or advisers + representatives + broker-dealers + agents.
  • Boston and Worcester are geography, not InvestorTrustHub intelligence routes.
  • Securities offering registrations and pre-2012 actions were not acquired. Missing is not zero.
  • No Trust Score. No AggregateRating. No ranking. No investment advice.