About RW Smith

Company Overview

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COMPANY OVERVIEW

January 18, 2010

When RW Smith opened its doors in 1985, the prevailing wisdom on Wall Street was that to be competitive, a Municipal Securities Broker’s Broker (MSBB) had to be headquartered in New York City. Bucking convention, the firm launched its business with its headquarters in Seattle. Today, RW Smith is the second largest Municipal Securities Broker's Brokers (MSBB) in the United States.

While many firms are downsizing in the face of one of the worst economic climates in the past 75 years, RW Smith continues to grow. In 2009, the company opened three offices in Boston, Dallas, and Stowe, VT, and hired ten key staff.

The company also expanded its proprietary trading software and online presence to better facilitate customer needs. It launched a unique hybrid of voice brokering (over the phone) with electronic (online) brokering. Its new online trading platform increased productivity 500% by allowing brokers to handle five times their previous volume. RW Smith also added online bidding and posting tools for its customers to facilitate efficiency and liquidity for market participants.

The result? In 2009, RW Smith increased trading volume by 31 percent over 2008 and by 59 percent from 2007 – 2009. Sales increased by 108 percent over 2008, and by 169 percent from 2007.

According to CEO Paige Pierce, “There’s no mystery to our growth. We are growing because we care as much about our clients’ bottom lines as our own.”

In 2004 when Ms. Pierce took over as President and CEO, she began reshaping the company for efficiency and to better position it for future growth. She streamlined operations, made a commitment to upgrade its technology and online trading tools, and began a process of strengthening its infrastructure. She also sought approval for a change in its licensing structure to that of a full service Fixed Income Interdealer Broker. This enables it to facilitate B2B trades of all fixed income products (not just municipal bonds) and greatly expands its market.

Additionally, the company is now able to work directly with institutional customers.
As RW Smith enters a new decade, it is poised to build on its growth. RW Smith continues to pride itself on offering the detailed attention of a small firm while utilizing its strong national networks to effectively compete with major New York firms, working each day to even the playing field between Wall Street and Main Street to ensure that its client’s needs always come first.

“There’s no mystery in our business plan – it’s hard work with an honest ethic, exceptional service to our clients, and ultimately to be your first call when you’re looking to purchase or sell fixed income securities. These are the guiding principles of our business at RW Smith, and they are our key to unlocking endless opportunities – for our company, as well as yours.”
                                                                                    Paige W. Pierce, President & CEO

RW Smith believes the information shown herein was obtained from a reliable source, but makes no representation and no guarantee as to its accuracy or completeness. RWS shall not be responsible for the consequences of your use of the information. Securities identified may be subject to additional call features, sinking funds, project features, or other factors that may affect market value. You must do your own independent research prior to submitting any bid.

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