McGinn Smith - Safety lessons
After building its business financing home security companies, McGinn Smith gradually moved into distributing structured products to a risk averse client base. It is now planning how best to capture the opportunities provided by tattered financial markets. Sophia Morrell reports
McGinn Smith is one of the few broker-dealers left in upstate New York, as Albany-based principle and partner Tom Livingston explains. The firm was established about 20 years ago, when it worked with home security companies buying burglar alarm subscription payments and building the first rudimentary structured products around these cash flows. Now McGinn's business is concerned with a different kind of protection. It brings somewhere between $2 million and $5 million of more commonplace
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