Florida's Retirement Community and Investing
Florida's large retiree population makes market structure issues particularly salient. Retirees trading in their own accounts — managing their own retirement savings — are among the retail investors most reliant on discount brokers and most affected by execution quality differences in the PFOF system. Fixed-income retirees have limited ability to absorb recurring implicit trading costs.
Citadel in Miami
In 2022, Citadel Securities relocated its headquarters from Chicago to Miami. The firm now has a significant physical presence in Florida and is building a new headquarters on Brickell Bay Drive in Miami, according to public reports. This makes Citadel Securities a direct participant in Florida's financial regulatory environment.
Florida's Financial Regulatory Environment
Florida's Office of Financial Regulation (OFR) regulates financial services within the state. Federal regulators (SEC and FINRA) have primary jurisdiction over broker-dealer and market-maker practices. Florida investors can file complaints with the OFR, FINRA, and the SEC.
Resources for Florida Investors
Florida retail investors can access FINRA's BrokerCheck system to review the regulatory history of firms handling their orders. The Florida OFR (flofr.gov) offers investor resources and complaint mechanisms. AARP, which has a large Florida membership, also provides investment fraud and education resources for older investors.