<?xml version="1.0" encoding="UTF-8"?>
<edgarSubmission xmlns="http://www.sec.gov/edgar/mafiler" xmlns:com="http://www.sec.gov/edgar/common_ma" xmlns:com1="http://www.sec.gov/edgar/common" xmlns:ma="http://www.sec.gov/edgar/ma_drp" xmlns:ma1="http://www.sec.gov/edgar/ma_common_drp" xmlns:com2="http://www.sec.gov/edgar/common_drp">
  <headerData>
    <submissionType>MA-A</submissionType>
    <filerInfo>
      <com:filer>
        <com1:filerId>0001616795</com1:filerId>
        <com1:filerCcc>XXXXXXXX</com1:filerCcc>
      </com:filer>
      <com:contact>
        <com1:name>Aaron Castillo</com1:name>
        <com1:phoneNumber>973-618-9506</com1:phoneNumber>
      </com:contact>
      <com:contactEmail>acastillo@alternativereg.com</com:contactEmail>
      <com:notifications>
        <com1:internetNotificationAddress>acastillo@alternativereg.com</com1:internetNotificationAddress>
      </com:notifications>
    </filerInfo>
  </headerData>
  <formData>
    <fiscalYearEnd>12-31-2025</fiscalYearEnd>
    <hasChanges>Y</hasChanges>
    <firmName>Municipal Finance Services, Inc.</firmName>
    <irsNum>73-1361775</irsNum>
    <registrations>
      <maTregistration>
        <com:fileNumber>866-00403-00</com:fileNumber>
      </maTregistration>
      <baseRegistrations>
        <maRegistration>
          <com:fileNumber>867-00467</com:fileNumber>
        </maRegistration>
      </baseRegistrations>
    </registrations>
    <principalOfficeAddress>
      <addressInfo>
        <com:address>
          <com1:street1>1017 North Bryant Ave.</com1:street1>
          <com1:street2>Suite 100</com1:street2>
          <com1:city>EDMOND</com1:city>
          <com1:stateOrCountry>OK</com1:stateOrCountry>
          <com1:zipCode>73034</com1:zipCode>
        </com:address>
      </addressInfo>
      <phoneNumber>405-340-1727</phoneNumber>
    </principalOfficeAddress>
    <mailingAddressDifferent>Y</mailingAddressDifferent>
    <mailingAddress>
      <com:address>
        <com1:street1>P. O. Box 747</com1:street1>
        <com1:city>EDMOND</com1:city>
        <com1:stateOrCountry>OK</com1:stateOrCountry>
        <com1:zipCode>73083-0747</com1:zipCode>
      </com:address>
    </mailingAddress>
    <primaryWebAddress>www.mfsok.com</primaryWebAddress>
    <cco>
      <name>
        <com:firstName>Jon</com:firstName>
        <com:middleName>Gayland</com:middleName>
        <com:lastName>Wolff</com:lastName>
      </name>
      <titles>
        <title>Chief Compliance Officer and President</title>
      </titles>
      <address>
        <com:address>
          <com1:street1>1017 North Bryant Ave.</com1:street1>
          <com1:street2>Suite 100</com1:street2>
          <com1:city>Edmond</com1:city>
          <com1:stateOrCountry>OK</com1:stateOrCountry>
          <com1:zipCode>73034</com1:zipCode>
        </com:address>
      </address>
      <phoneNumber>405-340-1727</phoneNumber>
      <email>jonwolff@mfsok.com</email>
    </cco>
    <contactPerson>
      <name>
        <com:firstName>Jon</com:firstName>
        <com:middleName>Gayland</com:middleName>
        <com:lastName>Wolff</com:lastName>
      </name>
      <titles>
        <title>Chief Compliance Officer and President</title>
      </titles>
      <address>
        <com:address>
          <com1:street1>1017 North Bryant Ave.</com1:street1>
          <com1:street2>Suite 100</com1:street2>
          <com1:city>Edmond</com1:city>
          <com1:stateOrCountry>OK</com1:stateOrCountry>
          <com1:zipCode>73034</com1:zipCode>
        </com:address>
      </address>
      <phoneNumber>405-340-1727</phoneNumber>
      <email>jonwolff@mfsok.com</email>
    </contactPerson>
    <formOfOrganization>
      <formOrgType>
        <formOrgTypes>
          <Corporation/>
        </formOrgTypes>
      </formOrgType>
    </formOfOrganization>
    <monthOfFiscalYearEnd>December</monthOfFiscalYearEnd>
    <organizedJurisdiction>
      <com1:stateOrCountry>OK</com1:stateOrCountry>
    </organizedJurisdiction>
    <dateOfOrganization>03-30-1990</dateOfOrganization>
    <isPrcApplicant>N</isPrcApplicant>
    <numberOfEmployees>4</numberOfEmployees>
    <employeesEngagedInMAA>4</employeesEngagedInMAA>
    <maaEmployeesRegBD>0</maaEmployeesRegBD>
    <maaRegIA>0</maaRegIA>
    <numberOfSolicitingFirms>0</numberOfSolicitingFirms>
    <clientsServedAsMA>85</clientsServedAsMA>
    <typesOfClients>
      <typesOfClients>
        <clientTypes>Municipal Entities</clientTypes>
      </typesOfClients>
    </typesOfClients>
    <numberOfSolicitedME>0</numberOfSolicitedME>
    <numberOfSolicitedOP>0</numberOfSolicitedOP>
    <totalNumberOfSolicitedMEAndOP>0</totalNumberOfSolicitedMEAndOP>
    <typesOfSolicitedPersons>
      <solicitationPersonTypes>
        <solicitationPersonTypes>Not Applicable</solicitationPersonTypes>
      </solicitationPersonTypes>
    </typesOfSolicitedPersons>
    <meOrOPCompensationTypes>
      <compensationTypes>
        <compensationTypes>Hourly Charges</compensationTypes>
        <compensationTypes>Fixed Fees</compensationTypes>
        <compensationTypes>Contingent Fees</compensationTypes>
        <compensationTypes>Other</compensationTypes>
      </compensationTypes>
      <COMP_TYPE_OTHER_DESCRIPTION>Fees based on % of Par</COMP_TYPE_OTHER_DESCRIPTION>
    </meOrOPCompensationTypes>
    <solicitationCompensationTypes>
      <compensationTypes>
        <compensationTypes>Not Applicable</compensationTypes>
      </compensationTypes>
    </solicitationCompensationTypes>
    <engagedActivities>
      <engagedActivityTypes>
        <engagedActivityType>Advice Insurance Of MS</engagedActivityType>
        <engagedActivityType>Advice ME Investments</engagedActivityType>
        <engagedActivityType>Advice On Selection</engagedActivityType>
      </engagedActivityTypes>
    </engagedActivities>
    <isEngagedInOtherNonMAABusiness>Y</isEngagedInOtherNonMAABusiness>
    <totalFIAAssociatedPersons>0</totalFIAAssociatedPersons>
    <participationInterestMACT>
      <mactBuySellFromClients>N</mactBuySellFromClients>
      <mactBuySellRecommendToClients>N</mactBuySellRecommendToClients>
      <mactEnterDerivativesWithClients>N</mactEnterDerivativesWithClients>
      <mactRecommendOwnedInterestToClients>N</mactRecommendOwnedInterestToClients>
      <mactRecommendToClientsServing>N</mactRecommendToClientsServing>
      <mactRecommendToClientsHavingOtherSalesInterest>N</mactRecommendToClientsHavingOtherSalesInterest>
      <mactDiscAuthBuySellAsMAA>N</mactDiscAuthBuySellAsMAA>
      <mactDiscAuthBuySell>N</mactDiscAuthBuySell>
      <mactDiscAuthDetermineBrokerDealer>N</mactDiscAuthDetermineBrokerDealer>
      <mactDiscAuthDetermineCommissionToBrokerDealer>N</mactDiscAuthDetermineCommissionToBrokerDealer>
      <mactRecommendBrokerDealerToClient>Y</mactRecommendBrokerDealerToClient>
      <mactRecommendBrokerDealerToClientAreAP>N</mactRecommendBrokerDealerToClientAreAP>
      <mactCompensateForReferrals>N</mactCompensateForReferrals>
      <mactReceiveCompensationForReferrals>N</mactReceiveCompensationForReferrals>
    </participationInterestMACT>
    <disclosureAnswers>
      <criminalDisclosure>
        <com:isConvictedOfFelony>N</com:isConvictedOfFelony>
        <com:isChargedWithFelony>N</com:isChargedWithFelony>
        <com:isOrgConvictedOfFelony>N</com:isOrgConvictedOfFelony>
        <com:isOrgChargedWithFelony>N</com:isOrgChargedWithFelony>
      </criminalDisclosure>
      <regulatoryDisclosure>
        <com:isMadeFalseStatement>N</com:isMadeFalseStatement>
        <com:isViolatedRegulation>Y</com:isViolatedRegulation>
        <com:isCauseOfDenial>N</com:isCauseOfDenial>
        <com:isOrderAgainst>Y</com:isOrderAgainst>
        <com:isImposedPenalty>Y</com:isImposedPenalty>
        <com:isUnEthical>N</com:isUnEthical>
        <com:isFoundInViolationOfRegulation>Y</com:isFoundInViolationOfRegulation>
        <com:isFoundInCauseOfDenial>N</com:isFoundInCauseOfDenial>
        <com:isOrderAgainstActivity>Y</com:isOrderAgainstActivity>
        <com:isDeniedLicense>N</com:isDeniedLicense>
        <com:isFoundMadeFalseStatement>N</com:isFoundMadeFalseStatement>
        <com:isFoundInViolationOfRules>N</com:isFoundInViolationOfRules>
        <com:isFoundInCauseOfSuspension>N</com:isFoundInCauseOfSuspension>
        <com:isDiscipliend>N</com:isDiscipliend>
        <com:isAuthorizedToActAttorney>N</com:isAuthorizedToActAttorney>
        <com:isRegulatoryComplaint>N</com:isRegulatoryComplaint>
      </regulatoryDisclosure>
      <civilDisclosure>
        <com:isEnjoined>N</com:isEnjoined>
        <com:isFoundInViolationOfRegulation>N</com:isFoundInViolationOfRegulation>
        <com:isDismissed>N</com:isDismissed>
        <com:isNamedInCivilProceeding>N</com:isNamedInCivilProceeding>
      </civilDisclosure>
    </disclosureAnswers>
    <hasAnnualReceiptsLessThan7Million>Y</hasAnnualReceiptsLessThan7Million>
    <isAffiliatedWithReceiptsMoreThan7Million>N</isAffiliatedWithReceiptsMoreThan7Million>
    <scheduleA>
      <persons>
        <person>
          <name>
            <com:firstName>Jon</com:firstName>
            <com:middleName>Gayland</com:middleName>
            <com:lastName>Wolff</com:lastName>
          </name>
          <baseInformation>
            <titleStatus>President, CCO</titleStatus>
            <statusAcquired>11-01-2022</statusAcquired>
            <ownershipCode>E</ownershipCode>
            <isControPerson>Y</isControPerson>
            <crdNumber>3222876</crdNumber>
          </baseInformation>
        </person>
      </persons>
    </scheduleA>
    <scheduleC>
      <directPersons>
        <person>
          <baseInformation>
            <name>
              <com:firstName>Jon</com:firstName>
              <com:middleName>Gayland</com:middleName>
              <com:lastName>Wolff</com:lastName>
            </name>
            <baseInformation>
              <titleStatus>President, CCO</titleStatus>
              <statusAcquired>11-01-2022</statusAcquired>
              <ownershipCode>E</ownershipCode>
              <isControPerson>Y</isControPerson>
              <crdNumber>3222876</crdNumber>
            </baseInformation>
          </baseInformation>
        </person>
      </directPersons>
    </scheduleC>
    <drpInfo>
      <ma:regulatoryDisclosure>
        <ma:regulatoryDrp>
          <ma:headerData>
            <ma:baseHeader>
              <ma:type>
                <ma1:amend/>
              </ma:type>
              <ma:apDrpFiledCount>2</ma:apDrpFiledCount>
              <ma:drpFor>
                <ma1:applicantAndAP/>
              </ma:drpFor>
            </ma:baseHeader>
            <ma:respondingTo>
              <ma:responseQuestion>9-C2</ma:responseQuestion>
              <ma:responseQuestion>9-C4</ma:responseQuestion>
              <ma:responseQuestion>9-C5</ma:responseQuestion>
            </ma:respondingTo>
          </ma:headerData>
          <ma:applicantInfo>
            <ma:drpInfo>
              <ma:detailedDisclosure>
                <ma:initiatedDRP>
                  <ma:baseInformation>
                    <ma1:chargesBroughtIn>
                      <ma1:name>Administrative Proceeding File No. 3-18139</ma1:name>
                      <ma1:docketOrCaseNo>H0-13014</ma1:docketOrCaseNo>
                      <ma1:address>
                        <com1:street1>100 F. Street, NE</com1:street1>
                        <com1:street2>U. S. Securities and Exchange Commission</com1:street2>
                        <com1:city>WASHINGTON D.C.</com1:city>
                        <com1:stateOrCountry>DC</com1:stateOrCountry>
                        <com1:zipCode>20549</com1:zipCode>
                      </ma1:address>
                    </ma1:chargesBroughtIn>
                    <ma1:status>
                      <com2:final/>
                    </ma1:status>
                    <ma1:summary>Respondents were accused of violating their fiduciary duty by failing to call attention to, or further investigate or advise their client regarding amendments to the client's continuing disclosure agreements that were improperly prepared and implemented by Bond Counsel.  Parties have consented to an administrative cease and desist order and associated sanctions as set forth in the order.</ma1:summary>
                  </ma:baseInformation>
                  <ma:dateInitiated>
                    <ma1:date>06-15-2016</ma1:date>
                    <ma1:exact/>
                  </ma:dateInitiated>
                  <ma:initiatedBy>
                    <ma1:initiator>
                      <ma1:sec/>
                    </ma1:initiator>
                  </ma:initiatedBy>
                  <ma:sanctionsSought>
                    <ma:sanction>Cease and Desist</ma:sanction>
                    <ma:sanction>Censure</ma:sanction>
                    <ma:sanction>CivilAdminPenaltyFine</ma:sanction>
                    <ma:sanction>Undertaking</ma:sanction>
                  </ma:sanctionsSought>
                  <ma:principalProductTypes>
                    <ma1:product>Debt - Municipal</ma1:product>
                  </ma:principalProductTypes>
                  <ma:allegationsDescription>Municipal Finance Services, Inc. and two of it's associated persons did not comply with their fiduciary duty to a municipal entity client related to the amendment of Continuing Disclosure Agreements by Bond Counsel, that respondents did not further investigate or advise their client with regard thereto.</ma:allegationsDescription>
                  <ma:resolutionInformation>
                    <ma:date>
                      <ma1:date>08-24-2017</ma1:date>
                      <ma1:exact/>
                    </ma:date>
                    <ma:types>
                      <ma:judgement>Order</ma:judgement>
                      <ma:isFinalOrder>Y</ma:isFinalOrder>
                    </ma:types>
                    <ma:details>
                      <ma:sanctionsOrdered>Y</ma:sanctionsOrdered>
                      <ma:sanctions>
                        <ma:sanction>Cease and Desist</ma:sanction>
                        <ma:sanction>Censure</ma:sanction>
                        <ma:sanction>CivilAdminPenaltyFine</ma:sanction>
                        <ma:sanction>Undertaking</ma:sanction>
                      </ma:sanctions>
                      <ma:sanctionDetails>
                        <ma:monetarySanctions>
                          <ma:amountOrdered>50000.00</ma:amountOrdered>
                          <ma:finalAmount>50000.00</ma:finalAmount>
                          <ma:paymentState>
                            <ma:satisfied>08-31-2017</ma:satisfied>
                          </ma:paymentState>
                        </ma:monetarySanctions>
                      </ma:sanctionDetails>
                      <ma:totalAmountOrdered>50000.00</ma:totalAmountOrdered>
                    </ma:details>
                  </ma:resolutionInformation>
                </ma:initiatedDRP>
              </ma:detailedDisclosure>
            </ma:drpInfo>
          </ma:applicantInfo>
          <ma:apInfo>
            <ma:associatedPerson>
              <ma:apType>
                <ma:naturalPersonInfo>
                  <com:firstName>Rickey</com:firstName>
                  <com:middleName>Alan</com:middleName>
                  <com:lastName>Smith</com:lastName>
                </ma:naturalPersonInfo>
              </ma:apType>
              <ma:registrationInfo>
                <ma:isSECRegistered>Y</ma:isSECRegistered>
                <ma:secRegistrationNumber>868-02670</ma:secRegistrationNumber>
              </ma:registrationInfo>
              <ma:drpInfo>
                <ma:detailedDisclosure>
                  <ma:initiatedDRP>
                    <ma:baseInformation>
                      <ma1:chargesBroughtIn>
                        <ma1:name>Administrative Proceeding File No. 3-18139</ma1:name>
                        <ma1:docketOrCaseNo>H0-13014</ma1:docketOrCaseNo>
                        <ma1:address>
                          <com1:street1>100 F. Street, NE</com1:street1>
                          <com1:street2>U.S. Securities and Exchange Commision</com1:street2>
                          <com1:city>WASHINGTON D.C.</com1:city>
                          <com1:stateOrCountry>DC</com1:stateOrCountry>
                          <com1:zipCode>20549</com1:zipCode>
                        </ma1:address>
                      </ma1:chargesBroughtIn>
                      <ma1:status>
                        <com2:final/>
                      </ma1:status>
                      <ma1:summary>Respondents were accused of violating their fiduciary duty by failing to call attention to, or further investigate or advise their client regarding amendments to the client's continuing disclosure agreements that were improperly prepared and implemented by Bond Counsel.  Parties have consented to an administrative cease and desist order and associated sanctions as set forth in the order.  This person has retired from the Firm.</ma1:summary>
                    </ma:baseInformation>
                    <ma:dateInitiated>
                      <ma1:date>06-15-2016</ma1:date>
                      <ma1:exact/>
                    </ma:dateInitiated>
                    <ma:initiatedBy>
                      <ma1:initiator>
                        <ma1:sec/>
                      </ma1:initiator>
                    </ma:initiatedBy>
                    <ma:sanctionsSought>
                      <ma:sanction>Cease and Desist</ma:sanction>
                      <ma:sanction>CivilAdminPenaltyFine</ma:sanction>
                      <ma:sanction>Undertaking</ma:sanction>
                    </ma:sanctionsSought>
                    <ma:principalProductTypes>
                      <ma1:product>Debt - Municipal</ma1:product>
                    </ma:principalProductTypes>
                    <ma:allegationsDescription>Municipal Finance Services, Inc. and two of it's associated persons did not comply with their fiduciary duty to a municipal entity client related to the amendment of Continuing Disclosure Agreements by Bond Counsel, that respondents did not further investigate or advise their client with regard thereto.</ma:allegationsDescription>
                    <ma:resolutionInformation>
                      <ma:date>
                        <ma1:date>08-24-2017</ma1:date>
                        <ma1:exact/>
                      </ma:date>
                      <ma:types>
                        <ma:judgement>Order</ma:judgement>
                        <ma:isFinalOrder>Y</ma:isFinalOrder>
                      </ma:types>
                      <ma:details>
                        <ma:sanctionsOrdered>Y</ma:sanctionsOrdered>
                        <ma:sanctions>
                          <ma:sanction>Cease and Desist</ma:sanction>
                          <ma:sanction>CivilAdminPenaltyFine</ma:sanction>
                          <ma:sanction>Undertaking</ma:sanction>
                        </ma:sanctions>
                        <ma:sanctionDetails>
                          <ma:monetarySanctions>
                            <ma:amountOrdered>8000.00</ma:amountOrdered>
                            <ma:finalAmount>8000.00</ma:finalAmount>
                            <ma:paymentState>
                              <ma:satisfied>08-31-2017</ma:satisfied>
                            </ma:paymentState>
                          </ma:monetarySanctions>
                        </ma:sanctionDetails>
                        <ma:totalAmountOrdered>8000.00</ma:totalAmountOrdered>
                      </ma:details>
                    </ma:resolutionInformation>
                  </ma:initiatedDRP>
                </ma:detailedDisclosure>
              </ma:drpInfo>
            </ma:associatedPerson>
            <ma:associatedPerson>
              <ma:apType>
                <ma:naturalPersonInfo>
                  <com:firstName>Jon</com:firstName>
                  <com:middleName>Gayland</com:middleName>
                  <com:lastName>Wolff</com:lastName>
                </ma:naturalPersonInfo>
              </ma:apType>
              <ma:registrationInfo>
                <ma:isSECRegistered>Y</ma:isSECRegistered>
                <ma:secRegistrationNumber>868-02670</ma:secRegistrationNumber>
              </ma:registrationInfo>
              <ma:drpInfo>
                <ma:detailedDisclosure>
                  <ma:initiatedDRP>
                    <ma:baseInformation>
                      <ma1:chargesBroughtIn>
                        <ma1:name>Administrative Proceeding File No. 3-18139</ma1:name>
                        <ma1:docketOrCaseNo>H0-13014</ma1:docketOrCaseNo>
                        <ma1:address>
                          <com1:street1>801 Cherry Street, Suite 1900, Unit 18</com1:street1>
                          <com1:street2>U.S. Securities and Exchange Commision</com1:street2>
                          <com1:city>FORT WORTH</com1:city>
                          <com1:stateOrCountry>TX</com1:stateOrCountry>
                          <com1:zipCode>76102</com1:zipCode>
                        </ma1:address>
                      </ma1:chargesBroughtIn>
                      <ma1:status>
                        <com2:final/>
                      </ma1:status>
                      <ma1:summary>Respondents were accused of violating their fiduciary duty by failing to call attention to, or further investigate or advise their client regarding amendments to the client's continuing disclosure agreements that were improperly prepared and implemented by Bond Counsel.  Parties have consented to an administrative cease and desist order and associated sanctions as set forth in the order.</ma1:summary>
                    </ma:baseInformation>
                    <ma:dateInitiated>
                      <ma1:date>06-15-2016</ma1:date>
                      <ma1:exact/>
                    </ma:dateInitiated>
                    <ma:initiatedBy>
                      <ma1:initiator>
                        <ma1:sec/>
                      </ma1:initiator>
                    </ma:initiatedBy>
                    <ma:sanctionsSought>
                      <ma:sanction>Cease and Desist</ma:sanction>
                      <ma:sanction>CivilAdminPenaltyFine</ma:sanction>
                      <ma:sanction>Undertaking</ma:sanction>
                    </ma:sanctionsSought>
                    <ma:principalProductTypes>
                      <ma1:product>Debt - Municipal</ma1:product>
                    </ma:principalProductTypes>
                    <ma:allegationsDescription>Municipal Finance Services, Inc. and two of it's associated persons did not comply with their fiduciary duty to a municipal entity client related to the amendment of Continuing Disclosure Agreements by Bond Counsel, that respondents did not further investigate or advise their client with regard thereto.</ma:allegationsDescription>
                    <ma:resolutionInformation>
                      <ma:date>
                        <ma1:date>08-24-2017</ma1:date>
                        <ma1:exact/>
                      </ma:date>
                      <ma:types>
                        <ma:judgement>Order</ma:judgement>
                        <ma:isFinalOrder>Y</ma:isFinalOrder>
                      </ma:types>
                      <ma:details>
                        <ma:sanctionsOrdered>Y</ma:sanctionsOrdered>
                        <ma:sanctions>
                          <ma:sanction>Cease and Desist</ma:sanction>
                          <ma:sanction>CivilAdminPenaltyFine</ma:sanction>
                          <ma:sanction>Undertaking</ma:sanction>
                        </ma:sanctions>
                        <ma:sanctionDetails>
                          <ma:monetarySanctions>
                            <ma:amountOrdered>8000.00</ma:amountOrdered>
                            <ma:finalAmount>8000.00</ma:finalAmount>
                            <ma:paymentState>
                              <ma:satisfied>08-31-2017</ma:satisfied>
                            </ma:paymentState>
                          </ma:monetarySanctions>
                        </ma:sanctionDetails>
                        <ma:totalAmountOrdered>8000.00</ma:totalAmountOrdered>
                      </ma:details>
                    </ma:resolutionInformation>
                  </ma:initiatedDRP>
                </ma:detailedDisclosure>
              </ma:drpInfo>
            </ma:associatedPerson>
          </ma:apInfo>
        </ma:regulatoryDrp>
        <ma:regulatoryDrp>
          <ma:headerData>
            <ma:baseHeader>
              <ma:type>
                <ma1:amend/>
              </ma:type>
              <ma:drpFor>
                <ma1:applicant/>
              </ma:drpFor>
            </ma:baseHeader>
            <ma:respondingTo>
              <ma:responseQuestion>9-D2</ma:responseQuestion>
              <ma:responseQuestion>9-D4</ma:responseQuestion>
            </ma:respondingTo>
          </ma:headerData>
          <ma:applicantInfo>
            <ma:drpInfo>
              <ma:detailedDisclosure>
                <ma:initiatedDRP>
                  <ma:baseInformation>
                    <ma1:chargesBroughtIn>
                      <ma1:name>Administrative Proceeding ODS File 18-031 - Oklahoma Department of Securities</ma1:name>
                      <ma1:docketOrCaseNo>ODS File 18-031</ma1:docketOrCaseNo>
                      <ma1:address>
                        <com1:street1>204 North Robinson</com1:street1>
                        <com1:street2>Suite 400</com1:street2>
                        <com1:city>OKLAHOMA CITY</com1:city>
                        <com1:stateOrCountry>OK</com1:stateOrCountry>
                        <com1:zipCode>73102</com1:zipCode>
                      </ma1:address>
                    </ma1:chargesBroughtIn>
                    <ma1:status>
                      <com2:final/>
                    </ma1:status>
                    <ma1:summary>Based on the SEC administrative proceedings File No. 3-18139, the State of Oklahoma department of securities adopted the findings within that administrative proceedings File No. 3-18139. All that information is contained within this Form MA under a separate DRP.</ma1:summary>
                  </ma:baseInformation>
                  <ma:dateInitiated>
                    <ma1:date>09-21-2017</ma1:date>
                    <ma1:exact/>
                  </ma:dateInitiated>
                  <ma:initiatedBy>
                    <ma1:initiator>
                      <ma1:other/>
                    </ma1:initiator>
                    <ma1:other>Oklahoma Department of Securities</ma1:other>
                  </ma:initiatedBy>
                  <ma:sanctionsSought>
                    <ma:sanction>Censure</ma:sanction>
                    <ma:otherSanctions>None</ma:otherSanctions>
                  </ma:sanctionsSought>
                  <ma:principalProductTypes>
                    <ma1:product>Debt - Municipal</ma1:product>
                  </ma:principalProductTypes>
                  <ma:allegationsDescription>The State of Oklahoma department of securities adopted SEC administrative proceedings File No. 3-18139 issued by the U.S. Securities and Exchange Commission.  All that information is contained within this Form MA under a separate DRP.</ma:allegationsDescription>
                  <ma:resolutionInformation>
                    <ma:date>
                      <ma1:date>11-08-2017</ma1:date>
                      <ma1:exact/>
                    </ma:date>
                    <ma:types>
                      <ma:judgement>Order</ma:judgement>
                      <ma:isFinalOrder>Y</ma:isFinalOrder>
                    </ma:types>
                    <ma:details>
                      <ma:sanctionsOrdered>N</ma:sanctionsOrdered>
                    </ma:details>
                  </ma:resolutionInformation>
                </ma:initiatedDRP>
              </ma:detailedDisclosure>
            </ma:drpInfo>
          </ma:applicantInfo>
        </ma:regulatoryDrp>
      </ma:regulatoryDisclosure>
    </drpInfo>
    <maExecutionPage>
      <signature>
        <com1:signature>Jon Wolff</com1:signature>
        <com1:signerName>Jon Wolff</com1:signerName>
        <com1:title>President / Principal / CCO </com1:title>
        <com1:date>03-10-2026</com1:date>
      </signature>
      <crdNumber>3222876</crdNumber>
    </maExecutionPage>
    <controls>
      <isSolePropietor>N</isSolePropietor>
      <hasNameChange>N</hasNameChange>
      <hasDBAName>N</hasDBAName>
      <hasPreviousDBAName>N</hasPreviousDBAName>
      <hasAdditionalDBANames>N</hasAdditionalDBANames>
      <hasMATReg>Y</hasMATReg>
      <additionalRegs>N</additionalRegs>
      <additionalOffices>N</additionalOffices>
      <hasMailingAddress>Y</hasMailingAddress>
      <hasAdditionalWebsites>N</hasAdditionalWebsites>
      <hasBooksRecords>N</hasBooksRecords>
      <isRegisteredFFRA>N</isRegisteredFFRA>
      <isAffiliatedOtherBus>N</isAffiliatedOtherBus>
      <independentBusinessEmployee>N</independentBusinessEmployee>
      <receiveCompensationForMAAFromOtherClients>N</receiveCompensationForMAAFromOtherClients>
      <isSucceedingApplicant>N</isSucceedingApplicant>
      <isCPForApplicantPolicy>N</isCPForApplicantPolicy>
      <isPRCompanyUnder1215>N</isPRCompanyUnder1215>
      <hasScheduleB>N</hasScheduleB>
      <isSection12Or15ReportingCompany>N</isSection12Or15ReportingCompany>
      <isOtherNonMAABuisinesssPrimary>N</isOtherNonMAABuisinesssPrimary>
    </controls>
  </formData>
</edgarSubmission>
