Ashford Securities Files Termination With FINRA

Ashford Securities, a Dallas-based broker-dealer focused on the distribution of alternative investment products, has filed for termination with the Financial Industry Regulatory Authority.

The filing marks the end of a six-year operating history for the firm, which was led by industry veteran and former Carey Financial and CNL Securities executive C. Jay Steigerwald.

Founded in late 2019, the firm is an affiliate of Ashford Inc., a publicly traded real estate asset manager and service provider. Ashford Securities focused on capital raising and the distribution of alternative investment products through financial intermediaries, including independent financial advisers and registered investment advisers.

The firm served as a dedicated capital-raising platform for investment opportunities advised by Ashford, including preferred equity, convertible preferred equity, and private placement offerings. Among its distribution mandates were the non-traded preferred share offerings of Ashford Hospitality Trust Inc. and Braemar Hotels & Resorts Inc.

Both products are now closed to new investors. In early 2026, Ashford Hospitality Trust suspended preferred dividends to preserve liquidity while the board explores strategic alternatives, the company said. Separately, Braemar Hotels & Resorts has been exploring a potential sale since last summer, according to the company.

Click here to visit the AltsWire directory page.