Paulson Capital is a financial services holding company operating through its sole subsidiary, Paulson Investment Company. A full-service brokerage, Paulson Investment is one of the largest independent brokerage firms in the Pacific Northwest. It acts as an agent for its customers in the purchase and sale of stocks, options, and debt securities. The company also offers market-making and underwriting services for small and emerging companies. Paulson Investment has more than 40 branches in about a dozen states; most are run by independent contractors. The company has agreed to sell its Paulson Investment retail operations to Tampa-based JHS Capital Advisors.