Jefferies is a broker-dealer based in New York, NY, that holds a 40.0/100 Fidelon TransparencyScore (th percentile), with 2,393 registered advisors. Score based on public SEC and FINRA filings.
Jefferies
Jefferies LLC · CRD #2347
A registered broker-dealer.
Fidelon Fact Sheet
Jefferies LLC used to be called Jefferies & Company, Inc. It is a broker-dealer in New York, NY that also gives investment advice. The firm charges advisory fees for its advice. It holds client money and sells investments. When it sells products, it only has to pick ones that are suitable. Its duty to put clients first covers its advice, not its sales. The firm has regulatory disclosures and arbitrations on file. Regulators that have taken action include the SEC, FINRA, and state regulators. Its most recent regulatory action was in 2025.
How This Firm Works
Registration & Standard of Care
Broker-Dealer — this firm is a broker-dealer. Representatives may earn commissions on products they sell, held to a suitability standard rather than a fiduciary one.
How This Firm Gets Paid
- Representatives can earn commissions on product sales
Key Findings
Things You Should Know
- 137 regulatory complaints reported by FINRA
- $117.5M in regulatory fines
- Broker-dealer only — not legally required to put your interests first
Conflict Audit
Our analysis identified 1 potential conflict of interest in regulatory filings.
Source: Form ADV Part 1, Items 6-8; Part 2A, Items 10-14
Regulatory Track Record
137
Disclosures
$117.5M
Total Fines
Regulatory Events
TransparencyScore Dimensions
Disclosure Record
Customer complaints, arbitrations, and fines. Frequency and recency matter.
17/100
Poor
Avg for broker-dealer firms: 69.2 | Top 10%: 92.6
Filing Quality
How clearly the firm describes services, fees, and investment approach in regulatory filings.
72/100
Fair
Avg for broker-dealer firms: 63.9 | Top 10%: 82.8
Conflict Disclosure
How openly the firm explains who pays it and what it's paid to sell. The conflict isn't the problem — hiding it is.
32/100
Poor
Avg for broker-dealer firms: 72.9 | Top 10%: 85.6
Enforcement History
Past actions taken by the SEC, FINRA, or state regulators, and how well the firm supervised its people.
0/100
Poor
Avg for broker-dealer firms: 76.7 | Top 10%: 86.5
Next Steps
Advisor Roster
2,393 advisors
| Advisor | CRD | Score | Grade |
|---|---|---|---|
| Michael Emilio Silvestri | 6722475 | — | — |
| Michael H Baldwin | 2381895 | — | — |
| Michael Cally | 7766144 | — | — |
| Serena Castellano | 7556997 | — | — |
| Jacqueline Townsend | 7525917 | — | — |
| Cameron Petrie | 7283680 | — | — |
| Christopher Suttner Martin | 6124233 | — | — |
| Caley Burke | 6248564 | — | — |
| Calvin Reese Hyde | 7540181 | — | — |
| qing yin | 7990463 | — | — |
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Frequently Asked Questions
What does the TransparencyScore measure?
The TransparencyScore measures how clearly and completely an advisor or firm discloses important information in their regulatory filings — things like fees, conflicts of interest, disciplinary history, and business practices. A higher score means better disclosure quality, not better investment performance.
Where does this data come from?
All data comes from public regulatory filings: SEC Form ADV (Parts 1, 2, and 3), FINRA BrokerCheck, and the SEC's Investment Adviser Public Disclosure (IAPD) database. These are official filings that firms and advisors are legally required to submit.
Does a low score mean they're a bad advisor?
Not necessarily. A low score means the firm's public filings are less transparent — they may use vague language about fees, skip details about conflicts, or have a more complex regulatory history. Some excellent advisors work at firms with poor disclosure practices. The score measures the filing, not the person.
How often is this data updated?
Fidelon refreshes data from SEC and FINRA sources on a regular schedule. Form ADV filings are updated annually by firms (with amendments throughout the year), and BrokerCheck data is updated as events are reported. Scores are recalculated after each data refresh.
Can an advisor or firm improve their score?
Yes. Scores are based on what's in public filings. A firm that rewrites its ADV brochure in clearer language, discloses conflicts more specifically, or resolves outstanding regulatory issues will see its score improve at the next refresh. The incentive structure is intentional.
Data Sources
Scores are generated using Fidelon's published scoring methodology and reflect the quality of public disclosures, not the quality of investment advice. A firm that improves its disclosures will see its score improve. Fidelon does not provide investment advice.
Verify on SEC IAPD · FINRA BrokerCheck
Last scored: · Score version: 3.8 · CRD #2347