Tri-Party “Piggyback” Clearing Arrangements

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 some firms, a tri-party “piggyback” clearing arrangement might make sense.

Started in 1993, Lantern Investments is a broker-dealer whose roots are in fixed income. We clear through Pershing, LLC. Our Chief Operations Officer, Wendy Lanton is currently serving on Pershing’s Steering Committee and on the FINRA Small Firm Advisory Committee since December 2015. Ms. Lanton is an expert in her field on broker-dealer operations and compliance and has been quoted in various publications. Keith Lanton, our President, received an MBA from Columbia University and studied at the London School of Economics. He appears on financial radio shows, is quoted in such consumer and trade media as Financial Advisor-IQ and Newsday and has served on numerous investment panels and forums.

Simply put, a Tri-Party “Piggyback” Clearing arrangement is an agreement between the clearing firm, the intermediary firm, and the introducing firm (Lantern). This would free up much of your time and energy allowing you to focus on growing your business and taking care of your clients.

If you’d like to learn more about how Lantern’s Tri-Party “Piggyback” 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

Company Info

35 Pinelawn Rd., Suite 101E
Melville, NY 11747
Tel: 800.860.1010 or 631.454.2000


Advisory services offered through Lantern Wealth Advisors, LLC., a registered investment advisor. Securities offered through Lantern Investments Inc., a registered broker dealer, Member FINRA, MSRB, SIPC.