Oklahoma-Based Native American Broker-Dealer NAFA Capital Markets, White Rock Advisors Form Partnership

Article excerpt

The nation's only stand-alone Native American broker-dealer is expanding beyond its Oklahoma base and working on projects in New Mexico, its president said Thursday.

John Fryrear, president of NAFA Capital Markets, said his company has formed a partnership with White Rock Advisors LLC, the investment banking arm of Richardson, Texas-based Chapman, Hext, and Co. PC affiliates.

Fryrear said the partnership would combine the two full-service broker-dealers and allow both entities to enhance services to tribes and tribal entities.

"We're providing money management help, and advice on mergers and acquisitions," he said. "We're also working with tribal leaders, educating them on economic development outside of gaming."

Fryrear said the partnership will allow both firms to offer clients a focused, 10-day assessment and game plans for struggling and distressed companies.

Founded in 2005, NAFA is currently managing between $600 and $700 million in assets. The broker-dealer and investment banking firm specializes in tribal finance.

"We started out with, literally, nothing," Fryrear said. "Today we're managing close to $700 million for tribal entities, high-net- worth individuals and several nonprofits. We've taken a long time to meet with tribal leaders and cultivate a level of trust. We feel like we've made a niche for ourselves and our clients."

He said the company is working with about 10 different tribes in Oklahoma and is looking to expand in New Mexico. …