Editing EF Hutton (section)

=== Revival as EFH Group ===

As a result of the [[Subprime mortgage crisis]], Citigroup was forced to sell assets. A group of E.F. Hutton alumni reportedly bought the E.F. Hutton brand for an undisclosed amount.<ref>[http://www.investmentnews.com/article/20120423/FREE/120429978/e-f-hutton-the-sequel-will-it-play E.F. Hutton, the sequel: Will it play?] Apr 23, 2012 ''Investment News''</ref> In 2012, a group of EF Hutton alumni led by Frank Campanale announced plans to launch a new financial advisory firm under the name E.F. Hutton & Company, but Campanale left in October 2013 to become chairman and chief executive of Lebenthal Wealth Advisors LLC and the effort was abandoned.

In 2014, a new group, led by Christopher Daniels, who had started his career at EF Hutton's investment bank, re-launched as EFH Group Inc.  Daniels had been president of Ascend, a structured finance firm, and before that, he had worked for Raymond James in capital markets.  EFH Group changed the brand’s stylization from E.F. Hutton to EF Hutton.

Stanley Hutton Rumbough, grandson of Edward Francis Hutton the founder of EF Hutton, served as non-executive Chairman of the Board .<ref>[http://www.wealthmanagement.com/marketing/ef-hutton-speaks-again E.F. Hutton Speaks Up, Again] March 18, 2015 ''Wealth Management''</ref> EFH Group went public In November 2014, via a reverse merger with OTC-traded Twentyfour/seven Ventures, Inc. and was renamed EF Hutton America, Inc. trading under the stock symbol HUTN.<ref>{{Cite web|title=Twentyfour/seven Ventures Preliminary Schedule 14C|url=https://www.sec.gov/Archives/edgar/data/1565700/000101489714000429/f247prer14cv7.htm|access-date=2021-08-05|website=www.sec.gov}}</ref> In 2016 the company headquarters were relocated to One Main Street in [[Springfield, Ohio]].,<ref>{{cite web|title=Company Overview of HUTN, Inc.|url=https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=278597198|website=Bloomberg.com}}</ref> and in October, 2017 the firm name was changed to HUTN, Inc.

HUTN aimed to apply the power of social media platforms and technology to deliver an improved, customer-centric approach to financial services.  It embarked on an ambitious software and platform development program but was under-capitalized.  By late 2018 it had accumulated $14 million dollars worth of debt <ref>{{cite news|title=Former EF Hutton suspends operations, in $12 million debt |url=https://www.springfieldnewssun.com/news/local/former-hutton-suspends-operations-million-debt/i4WHrmlMoxPAFHTc4UUKFP/|last=Perry|first=Parker|newspaper=Springfield News Sun|date=April 22, 2019|access-date=April 22, 2019}}</ref> and had pledged its office building and the rights to the EF Hutton brand as collateral.

CEO Christopher Daniels, who was also the majority shareholder with over 92% of the voting rights <ref>{{Cite web|last=SEC|title=HUTN, Inc. - HUTN OTC Pink Basic Disclosure 9-30-18|url=https://sec.report/otc/financial-report/207782|access-date=2021-08-05|website=SEC.report|language=en|archive-date=2021-08-05|archive-url=https://web.archive.org/web/20210805185139/https://sec.report/otc/financial-report/207782|url-status=dead}}</ref>  resigned in April, 2019 after several attempted [[debt restructuring]]s were unsuccessful due to the magnitude of the company's debts and the over-leveraged position of its assets.  HUTN "ceased normal operations" and the board agreed to accept a loan from its chairman Stanley Hutton Rumbough to provide interim funding to the company as it began the process of dissolution and wind-down.<ref>{{Cite web|url=https://www.bizjournals.com/dayton/news/2019/05/09/dayton-area-finance-firm-ceases-operations.html|access-date=2021-08-05|website=www.bizjournals.com}}</ref>