About BBD Consultants
Decades of Experience. One Focus.
BBD Consultants was built by industry professionals who have spent their careers inside prime brokerage, carrying firms, and clearing firms. We bring that firsthand experience to every New Membership Application we guide.
Who We Are
BBD Consultants was founded by Wally Peczon, a broker dealer industry veteran with over two decades of hands-on experience building, operating, and leading some of the most complex firms in the business. Wally's career spans prime brokerage, clearing firms, and registered investment advisory — including founding roles, executive leadership at major Wall Street institutions, and successful FINRA and DTCC membership applications.
Wally's industry roots run deep. He worked at Bear Stearns in Correspondent Clearing, gaining firsthand experience at one of Wall Street's premier clearing operations. He later founded and led Velox Clearing as Executive Vice President and Chief Executive Officer, guiding the firm through FINRA and DTCC membership. He also served as Founder and CEO of TechSpeed Clearing, navigating the full clearing firm formation process from the ground up.
Since 2021, Wally has focused exclusively on broker dealer consulting through BBD Consultants — bringing that firsthand formation and operational experience to new firms navigating the New Membership Application process. His track record of successfully obtaining FINRA and DTCC memberships is verifiable directly on FINRA BrokerCheck.
Mike Mora
Mike brings deep operational expertise in clearing firm formation and broker dealer compliance to BBD Consultants. His career spans senior roles across the clearing and custody space, where he developed hands-on experience navigating FINRA membership requirements, DTCC clearing access, and the operational infrastructure that underpins successful clearing firm launches.
While tenured at firms such as Futu Clearing, and Velox Clearing Mike worked directly on the formation and build-out of clearing firm operations — from drafting Written Supervisory Procedures and compliance frameworks to coordinating with regulators through the New Membership Application process. His practical knowledge of clearing firm mechanics, net capital requirements, and risk management systems makes him a critical resource for firms pursuing the most complex broker dealer structures.
At BBD Consultants, Mike works alongside Wally and Gary to provide clients with end-to-end guidance through every stage of US broker dealer formation — combining operational depth with regulatory expertise to help new firms get to market efficiently and compliantly.
Gary DeDilectis
Gary brings 36 years of Wall Street experience to BBD Consultants, with a career built at some of the most prestigious clearing and prime brokerage firms in the industry. He has served as Financial & Operations Principal at clearing firms including Bear Stearns, Deutsche Bank Securities, Velocity Clearing, and TechSpeed Clearing — accumulating deep expertise in the financial and operational infrastructure that underpins successful broker dealer operations.
As a FINOP, Gary has overseen net capital compliance, financial reporting, and the operational controls that regulators scrutinize most closely during the New Membership Application process. His tenure across multiple clearing firm formations gives him firsthand knowledge of the financial requirements, FOCUS reporting obligations, and risk management frameworks that new firms must establish to satisfy FINRA and DTCC standards.
At BBD Consultants, Gary works alongside Wally and Mike to provide clients with comprehensive financial and operational guidance — ensuring that new broker dealers are built on a foundation that meets regulatory requirements from day one.
Our Areas of Expertise
Our team's experience spans every corner of the US broker dealer landscape.
Prime Brokerage
Deep operational and compliance experience from within prime brokerage businesses, including client onboarding, margin, securities lending, and regulatory oversight.
Carrying Firms
Hands-on experience building and operating Carrying Firm infrastructure — custody, safeguarding, net capital compliance, and the full regulatory framework.
Clearing Firms
Specialized knowledge of Clearing Firm operations, settlement systems, risk management, and the heightened regulatory requirements that come with clearing.
Compliance & Supervision
Extensive experience developing Written Supervisory Procedures, compliance programs, and regulatory examination frameworks for broker dealers of all types.
New Membership Applications
A proven track record guiding NMA filings — from straightforward Introducing Broker applications to the most complex Carrying and Clearing Firm submissions.
Regulatory Engagement
Experience working directly with regulators through the application process, examination cycles, and ongoing compliance obligations.
How We Work
Hands-On Partnership
We work alongside your team from day one — not as a vendor, but as a partner invested in your firm's success.
Honest Guidance
We tell you what you need to hear, not what you want to hear. If your application isn't ready, we'll tell you — and help you get there.
Proven Results
Our track record speaks for itself. Carrying and Clearing Firm applications are among the most demanding in the industry — and we've guided them successfully.
Ready to Work With Us?
Let's talk about your firm's goals and how BBD Consultants can guide you through every stage of US broker dealer formation.