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Thomas C. Prescott, Jr. Pom PrescottTom Prescott

Thomas C. Prescott, Jr. is a founding partner and a Managing Director of Mainstay Capital Markets Consultants, Inc. Mr. Prescott brings 29 years of securities industry and consulting experience to the firm. A native of Pensacola, Florida, he earned a Bachelor of Arts Degree in 1982 from Oglethorpe University in Atlanta, Georgia.

Mr. Prescott began his career in the securities industry in 1980 with Lehman Brothers Kuhn Loeb, Inc. where he was hired to assist with the marketing effort of the retail/institutional sales force, and the institutional fixed income desk. While in this position, he supervised and trained up to 25 employees. Mr. Prescott also worked in the operations department, where he provided support in all back office areas including margin, cashiering, order entry, order errors, file retention systems and also performed daily regulatory compliance functions. Mr. Prescott was one of two individuals asked to participate in an internal pilot training program to build and expand the Lehman Brothers sales force and subsequently underwent extensive training in various areas within the firm.

Mr. Prescott became a registered Representative in 1982. He successfully built and managed both retail and institutional client relationships, providing investment advice in the areas of portfolio management, asset allocation, stocks, bonds, options, limited partnerships, and other investment related services. Following the merger of Shearson American Express and Lehman Brothers Kuhn Loeb, Mr. Prescott and several other professionals left the firm to open an Atlanta branch office for a New York based firm specializing in taking small to medium sized companies public. In his capacity with the firm, Mr. Prescott called on both retail and institutional clientele and assisted in the recruitment and training of both professional and staff positions. In addition, he was instrumental in setting up the back office and compliance functions of the branch. In 1986, Mr. Prescott returned to the institutional side of the business, working for Interstate Securities on the institutional fixed income desk. While at Interstate, Mr. Prescott’s customer base included banks (both portfolio and trust departments), money managers, hedge funds, pension funds, mutual funds, and broker/dealers.

As a result of Mr. Prescott’s experience within the industry, he recognized a need for a consulting firm to assist financial institutions with sales and internal growth, operational problems, clearance issues, compliance, and regulatory concerns. In 1987, Mr. Prescott formed Prescott & Associates, to provide comprehensive consulting services to broker/dealers, banks, money managers, pension plans, corporations, and securities attorneys. Subsequently Prescott & Associates merged with another consulting firm to create Mainstay Capital Markets Consultants.

As a consultant he specializes in:
  • Consultation on Broker/Dealer regulations, sales practices and customs; trading procedures; compliance reviews and internal audits; regulatory reviews; margin calculations; and back office operations/clearance.
  • Development and implementation of operational and supervisory procedures.
  • Development of risk management procedures.
  • Assistance with branch office formation, training and sales revenue development.
  • Recruitment of sales, management, technical, consultants, traders, compliance officers, institutional and retail brokers and capital market positions.
  • Background investigations regarding potential/existing employees and NASD registered representatives.
  • Evaluation of securities accounts and portfolios to determine investment suitability, churning, unauthorized trading, misrepresentation, omission of material facts, portfolio makeup and fraud. Review of investment mediums. Assessment of losses and calculation of appropriate damages.
  • Review and analysis of securities industry litigation matters for the legal profession, the regulatory authorities and securities industry.
  • Establishment of New Investment Advisors and Broker/Dealers
Mr. Prescott has provided services to both domestic and foreign clients including; retail and institutional broker/dealers, investment advisors, investment companies, mutual fund complexes, insurance companies, banks, thrifts, and hedge funds. Additionally, he has participated in overseas Capital Markets projects sponsored by USAID.

Mr. Prescott has held the Series 7 and Series 63 registrations. He has spoken before professional and lay groups and has been quoted regarding the securities industry in the national press on numerous occasions.

Mainstay Capital Markets Consultants, Inc. is a consulting firm. We are not attorneys and therefore do not offer legal services. All information contained in this website has been derived from sources that we deem to be reliable but cannot be guaranteed.
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6600 Peachtree Dunwoody Rd 600 Embassy Row, Suite 575 Atlanta, Georgia 30328 ph: 770-352-0120 866-352-0120 fax: 770-352-0038
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