The Finleet Terminal recorded 96 events across broker-dealer and RIA verticals on Sunday — 63 broker-dealer filings across 52 unique firms, 28 RIA graduations, and 5 registration failures — highlighted by a headquarters relocation at B. Riley Securities and a firm size reclassification at Allianz Life Financial Services.

B. Riley Securities Relocates Headquarters from Los Angeles to Arlington, Virginia

B. Riley Securities, Inc. (CRD 25027) filed changes to its principal office address, moving from 11100 Santa Monica Boulevard in Los Angeles, California, to 1655 Fort Myer Drive in Arlington, Virginia (ZIP 22209). The relocation shifts the firm from FINRA’s Los Angeles district to the Philadelphia district. Both the office and mailing addresses were updated simultaneously, reflecting a permanent corporate move rather than a satellite office expansion.

B. Riley Securities is one of the larger mid-market investment banks, operating across equity research, institutional brokerage, investment banking, and capital markets. The move to the Washington, D.C., metro area positions the firm closer to regulatory agencies and federal government-adjacent deal flow.

Allianz Life Financial Services Reclassified from Medium to Large

Allianz Life Financial Services, LLC (CRD 612), the Minneapolis-based broker-dealer subsidiary of Allianz Life Insurance Company of North America, was reclassified from a medium-sized firm to large. The change was filed with both FINRA and SEC. The firm also updated its direct ownership structure. Allianz Life Financial Services distributes variable annuities and life insurance products through a network of independent financial professionals.

Pragma LLC Zeroes Out Principal Office — Potential Withdrawal

Pragma LLC (CRD 136453), the New York-based electronic trading firm previously headquartered at 55 Hudson Yards, filed changes that set its office address, phone number, mailing address, and affiliation status to null. The firm also saw changes to its SRO registration count and business type count. The pattern of field nullification across multiple categories is consistent with a firm winding down operations or preparing to withdraw its broker-dealer registration.

MMA Securities Adds Precept Advisory Group as Trading Name

MMA Securities LLC (CRD 44254) added Precept Advisory Group LLC as a new DBA (doing-business-as) name, bringing its total trading names to ten. MMA Securities, a subsidiary of Marsh & McLennan Agency, operates under nine other names including Compass Financial Partners, NIA Securities, and several MMA-branded regional divisions. The addition of Precept Advisory Group may signal a new advisory channel or an acquired business being folded into the MMA platform.

RIA Graduations: 28 Firms Complete SEC Registration

Twenty-eight advisory firms graduated to full SEC registration on Sunday, spanning 15 states. New York led with 10 graduations (35.7%), followed by Texas (3), New Jersey (2), and California (2), with one each from Colorado, Connecticut, Florida, Massachusetts, Delaware, Michigan, Alabama, Wisconsin, Georgia, Illinois, and Oregon.

Fastest graduation: Blue Heron Capital of Englewood, Colorado completed its registration in just 66 days — barely half the standard 120-day window. Washington Park Capital Management, LLC of Portland, Oregon followed at 100 days. Slowest completions: Three firms tied at 136 days — Clear Wave Wealth Management, LLC (Red Bank, NJ), LC Vero Manager (New York, NY), and Spring Street Wealth (New York, NY) — exceeding the standard window by 16 days.

Notable graduates include Highbrook Capital Partners (Atlanta, GA, 116 days), Naviant Partners, LLC (Fairhope, AL, 124 days), and Odyssean, LLC (Darien, CT, 132 days).

120-Day Registration Failures: 5 Firms Terminated

Five advisory firms failed to complete their SEC registrations and were terminated: Thirtyone Wealth (Pensacola, FL) started its 120-day window on January 5, 2026. Deianira Capital Management LLC (Miami, FL) and Driftmark Capital (Austin, TX) both started November 17, 2025. Sharpe Advisors, LLC (New York, NY) started November 20, 2025. Birchwood Creek Capital Management LLC (Fairfield, CT) started December 3, 2025. Florida accounted for two of the five failures, with Texas, New York, and Connecticut contributing one each.

Additional Broker-Dealer Activity

Among the 52 firms with filings, First Horizon Advisors, Inc. (CRD 17117) saw its firm size, office address, and registration counts set to null — a pattern similar to Pragma LLC that may indicate a corporate restructuring or registration withdrawal. Latin Securities Inc. (CRD 164117) added an affiliation relationship. Eight firms expanded their state registrations, including TechSpeed Clearing LLC (CRD 313766), CriticalPoint Partners LLC (CRD 317345), and Dream Street Securities, LLC (CRD 324818). Eleven firms filed ADV amendments with the SEC, including J.P. Morgan Securities LLC (CRD 79) and Ameriprise Financial Services, LLC (CRD 6363).