Tri-Party “Piggyback” Clearing Arrangements


The Four Pillars Of Institutional Distinction
Collaboration | Skill | Experience | Guidance


Broker-dealers, small to mid-sized banks, and credit unions that operate broker-dealers are feeling the increased cost pressures of new regulations, new technology, enhanced cybersecurity rules, more comprehensive FINRA compliance requests, as well as requiring greater clearing deposits. Many reputable clearing firms are increasing their qualifying criteria, net capital requirements, and/or increasing the minimum assets needed to access their platform. For any or all of these reasons, a tri-party clearing arrangement (sometimes known as a sub-broker or “piggyback”) with Herold & Lantern might make sense.

Simply put, a Tri-Party Clearing arrangement is an agreement between the clearing firm, the intermediary firm, and Herold & Lantern Investments. This frees up much of your time and energy allowing you to focus on growing your business and taking care of your clients, all while likely incurring substantial savings.

Our strong capital base, and our well-earned reputation over decades of long-term relationships, has made us the firm of choice for many broker-dealers.  Our track record speaks for itself: We currently have tri-party clearing arrangements with 13 broker-dealers accounting for in excess of several hundred registered representatives.

If you’d like to learn more about how our Tri-Party Clearing arrangement can help your business, lower your costs, grow and become more competitive, please contact Keith Lanton, confidentially at tel: 631.454.2000 |

LinkedIn: or