In 1954, Paul D. Speer founded Paul D. Speer & Associates to provide independent financial advice to governmental entities throughout the Midwest. Through the 50’s and 60’s the firm expanded to four consultants representing issuers throughout Illinois, Iowa, Indiana, Michigan and Wisconsin.


In 1979, Paul D. Speer & Associates was sold to Duff & Phelps, a financial research and advisory firm specializing in the corporate sector. The company was then known as Duff and Phelps, Speer & Co.

In 1981, the firm’s founder, Paul D. Speer retired. The firm was then purchased by its then current management, transferring it back to employee ownership. The firm was renamed Speer Financial, Inc.

Throughout the remainder of the 1980’s Speer Financial, Inc. began to expand its Illinois staff as the economy recovered.


In 1993, Speer Financial, Inc. expanded its presence by opening an office in Waterloo, Iowa to better provide in-state service to its existing clients thought out the State of Iowa.

In 1999, SpeerAuction.com was created. Speer Financial, Inc. became one of the first municipal advisory firms in the Midwest to utilize electronic bidding for competitive bond sales.

2000 and beyond

As part of the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act, Speer Financial, Inc. became a regulated entity by the
Securities and Exchange Commission and Municipal Securities Rulemaking Board.