Today, Stifel is the largest underwriter of municipal bonds in California as measured by number of issues underwritten.* Through Stifel, Custom Wealth Advisory Group can offer our clients access to California municipal bond inventory, as well as Stifel’s new issue calendar.

We work closely with Stifel's municipal bond trading desk, allowing us access to the secondary municipal market. This provides us with a competitive, institutional-level bidding environment and broad municipal bond market monitoring.

To take a look at our new issue calendar, or to find out more information about any of our other issues, please call us at (415) 364-2777 or (844) 265-9673.

Firm	Rank	Number of Issues	Par ($Mils)
Stifel	1	153	$4,539.4
Piper Sandler	2	78	$2,165.6
RBC	3	68	$7,340.2
Raymond James	4	64	$1,958.5
BofA Securities	5	46	$9,177.6
JPMorgan	6	30	$5,435.3
Wells Fargo	7	29	$4,274.7
Morgan Stanley	8	25	$8,554.5
Goldman Sachs	9	23	$7,567.4
Barclays	10	22	$4,602.5

Source: LSEG (full to book; equal if joint) negotiated California transactions ranked by number of issues as of January 2, 2025

Income from particular municipal bond issues may or may not be subject to state and alternative minimum taxes. Capital gains tax may apply if sold prior to maturity. When investing in bonds, it is important to note that as interest rates rise, bond prices will fall.