Firm Update: April 2023

Welcome to our April Broker-Dealer Newsletter. 

In this month’s newsletter, I will share some thoughts as to the impact of the fall of Silicon Valley Bank on deal activity in our sector. 

Then, Michelle Mueller will provide compliance updates, and Zaya Bold will do so for collaboration.

To all of our success!

The Fall of Silicon Valley Bank

Like many of us, I watched last month’s fall of Silicon Valley Bank with a combination of dread, curiosity and inquiry.  

Dread of contagion – that it would lead to a cascading series of bank failures, catastrophically impacting financial markets and the economy.

Curiosity as to how a bank with such a storied history and stellar reputation could fail so fast.

And inquiry – once it became clear that it would remain mostly an isolated event (at least so far) –  the question as to what the bank’s failure would mean for the transaction environment in our deal sector.

On the first level, of course most likely it will have a negative impact. 

At its best Silicon Valley Bank was a cool and unique player in the deal ecosystem  – providing financing for startup and technology deals in ways that most traditional banks never do.

Their removal as a capital stack partner – and the signal it gives to other like minded financiers – will in all likelihood lead to both more of a deal credit crunch.

More of the frustrating dynamic we see play out every day – of money sources “sitting in money markets and treasuries at 5%” until the dust settles. 

But if history teaches us anything, it is that the dust always settles.

And as it does, winners and losers will come into clearer focus.  

And one set of winners for sure will be independent investment bankers like us.

Because, when branded, high prestige firms like Silicon Valley Bank – and the famous VCs and PE firms that stood idly by and even contributed to their fall – are revealed to be really no different or better than the rest of us, it creates a shakeup effect. 

One where the decision of which financial partners and advisors to work with and hire becomes a bit less automatic, a bit less based on a “brand name.”

For investment banking advisors, more about their demonstrable character, experience, and relationship networks.

Yes, this “leveling effect” provides opportunities for small, “non-branded” bankers to compete for and win mandates that before were more inaccessible. 

Like $100 million tech financings – for these deals it is no longer Silicon Valley and everyone else.

Like eight and nine figure M&A deals – on both the buy and sell side. Who is better than us for big deals like these?


So yes let’s accept we might have some market headwinds ahead of us. 

But they will inevitably recede.

As they do, deals of a size and quality like never before will be there for the taking. 

Let’s go get them.

Compliance Updates

Finra Regulatory Element Continuing Education. Beginning this year, in 2023, Registered Persons must complete their Regulatory Element CE annually by December 31 of each year. 

More information regarding this regulatory rule can be found here.

Michelle Mueller, Chief Compliance Officer

Platform Resources and Deals

Deals Available for Collaboration. GT Securities is now listing all deals available for collaboration through our Axial Collaboration Account. Please email me at [email protected] for account access information.

Referrals. Do you know an investment banker looking for the benefits of independence and professionalism provided on the GT Securities platform? We are always interested in speaking to highly ethical and credentialed banking professionals to join our platform. Please reach out to me at [email protected] to learn more.

 Zaya Bold, Director of Banking Partnerships

Happy April to All!

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