See what our clients are saying about us.

As a lawyer whose practice largely involves broker-dealer regulatory matters, I often require the services of skilled industry consultants to conduct SRO-quality audits, prepare books and records, and work closely with clients during examinations and investigations.  Among my favorite consulting firms is CFR Associates, which is ably run by Frank Calimano.  During the past few years, Frank and I have worked closely on a number of complicated assignments.  I often rely upon his veteran's perspective to hone in on operational and supervisory problems --- and to quickly suggest reasonable solutions.  Additionally, Frank always garners high praise from my clients.  They describe him as a patient and thoughtful consultant who not only understands their business but provides constructive criticism and then stays on top of things to ensure they get done.  For me, Frank's most admirable quality is that he meets my deadlines, promptly returns my calls, and knows the industry inside-out.
Bill Singer, Attorney at Law

Frank is a professional colleague of mine whom I have known for a number of years.  We have recommended Frank to our clients because of his extensive compliance experience in the securities industry.  He has been well received by our clients and continues to provide valuable assistance to them in a complex area.  We will continue to recommend Frank to our clients and others because of his ability to get the job done in an effective and efficient manner, and because the feedback from our clients about Frank and his services has been excellent.    

 Bob Kaufmann, CPA


I have had the privilege of being associated with Frank Calimano for over 20 years. In this time I have worked with Frank as a client of CFR engaging his services for various compliance projects with LG Securities and EdgeTrade, Inc. Additionally, I have been a consultant working for CFR Associates from 2008 to 2009 while employed by Knight Capital Group.
Frank’s professionalism and knowledge base are impressive and I have only the highest recommendation for his ability to perform the tasks at hand.
Norman Schwartz

CFR Associates was originally engaged to perform AML Audits and we found Mr. Calimano to be extremely capable and always available to assist with the resolution of a matter.  Mr. Calimano is trustworthy, aware of industry changes, and responsive to our needs and the needs of regulatory agencies.  He stands ready to provide whatever guidance necessary to resolve a situation.  Frank has since assisted with matters beyond AML and  continues to prove that he is a reliable resource.
Joe Tito, CCO


I found CFR to be a valuable service for Institutional Edge, not only knowledgeable but easily accessible.
Michael Klarin, Managing Director


Working with CFR is like having an experienced and knowledgeable Compliance Officer / FINOP with decades of experience at your fingertips.  We have used CFR for the past 2 years for mock audits, for training and for general Compliance / FINOP inquiries and we have been completely satisfied with results.
William P. Hodge, CCO


I find that with CFR I get quick direct no nonsense answers to our questions.
Ed McCabe


I have been using CFR Associates for five years for the annual independent Anti-Money Laundering audit as required by FINRA. Frank C. is very professional and knowledgeable of the rules and regulations. There is no doubt that I will continue to use CFR Associates for the services they provide. They get the complete job done!

"I highly recommend their services.”

Barry Ferrari, CCO

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