“Financial Advisers should be prohibited from resigning as financial adviser to an issuer, and then underwriting that issuer's bonds...This is a classic example of conflict of interest.”

—Mary Shapiro, Former Chairman, SEC

With the advent of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, a single firm can no longer provide both financial advice and underwriting services on the same transaction. This prohibition reflects the reality that only independent financial advisors can provide truly iindependent financial advice. Debt issuance may be the singly most costly undertaking by a government or non-profit borrower during a year. Don't you deserve to have someone on your side?

The value of quality financial advice has been quantified in academic study. In 2006 two researchers at the business school at the University of Nebraska found that quality financial advice provided a pricing advantage of nearly 0.05% in true interest cost on the pricing of new issues. In addition the same authors found that on-going relationships with financial advisors are also associated with lower borrowing costs.

Independence matters. Experience matters. Since 1996, Columbia Capital has distinguished itself by providing high-quality advice, free of conflicts.


why use an FA?