Montauk Financial Group has approximately 245 registered representatives and services over 50,000 retail and institutional customer accounts, which comprise over $3 billion in customer assets. All of Montauk Financial Group's 106 branch offices and satellite locations in 24 states are owned and operated by affiliates; independent owners who maintain all applicable licenses and are responsible for all office overhead and expenses. Montauk Financial Group also employs registered representatives directly at its corporate headquarters.
Montauk Financial Group is registered as a broker-dealer with the SEC, the National Association of Securities Dealers ("NASD"), the Municipal Securities Rule Making Board, the National Futures Association, and the Securities Investor Protection Corporation and is licensed to conduct its brokerage activities in all 50 states, the District of Columbia, the Commonwealth of Puerto Rico, and is registered as an International broker-dealer to conduct business with institutional clients in the province of Ontario, Canada. Securities transactions are cleared through National Financial Services, LLC ("NFS"), a Fidelity Investments company and Penson Financial Services, Inc. ("Penson") with various floor brokerage and specialist firms also providing execution services. These arrangements provide Montauk Financial Group with back office support, transaction processing services on all principal national and international securities exchanges, and access to many other financial services and products which allows Montauk Financial Group to offer products and services comparable to larger brokerage firms.
Our revenues consist primarily of commissions and fee income from individual and institutional securities transactions, mutual fund and annuity sales, fees from managed accounts and investment banking activities, such as private and public securities offerings.
