Capital Markets Advisors, LLC (“CMA”) is an independent registered municipal advisor serving the financing needs of jurisdictions throughout New York State and the northeastern United States from offices in Long Island and Western New York. The firm was founded in 2002 and is currently owned by its two principals, Richard Tortora and Rick Ganci.

CMA has a staff of 17, 11 of whom have been tested and licensed as Series 50 Municipal Advisors by the Municipal Securities Rulemaking Board (“MSRB”). The firm also has two Series 54 Municipal Principals. Both the firm and its staff are registered with the US Securities and Exchange Commission and the MSRB. CMA professionals assist jurisdictions with the planning and issuance of notes, bonds and lease financings to fund capital projects and cash flow needs. As part of our comprehensive service, we plan and structure debt offerings, prepare disclosure documents, assist in securing credit ratings and credit enhancement, sell new money debt and refund existing debt via competitive and negotiated sales, competitively bid out escrow accounts and generally provide thoughtful and sound advice on a wide variety of financial issues affecting our clients.

In 6 of the last 7 years, Thomson Reuters has ranked CMA among the top ten municipal advisors in the nation. In 2021, CMA served as financial advisor on over 300 note, bond and lease financings for a combined par amount in excess of $5 billion.  Collectively, our staff offers over 400 years of experience servicing the financing needs of public jurisdictions.

The CMA Difference

  • CMA takes a team approach to financing services, with each individual’s unique expertise contributing to our clients’ needs.
  • We offer our clients a team of well-trained, seasoned professionals with experience and expertise in municipal accounting, banking, credit, finance, government, law, quantitative analysis and school finance.
  • We work with our clients on a day-to-day basis, coordinating their individual financings with their long-term goals.
  • We analyze cash flow statements and construction draw down schedules to best time and size our clients’ cash flow and capital financing needs.
  • CMA develops alternative financing structures that include tax and budget impact analysis.
  • CMA represents its clients in the selection of underwriters, Bond Counsel, and other service providers, including Trustee, Escrow Agent and Verification Agent.
  • CMA looks to establish long-term relationships with our clients that enable us to best plan for their future while being mindful of the past. Many of our relationships extend beyond 20 years.