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OMB APPROVAL
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OMB Number 3235-0104
Expires: 12-31-2001
Estimated average burden
hours per response ......0.5 .
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U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 3
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(f) of the Investment Company Act of 1940
_____________________________________________________________________________
1. Name and Address of Reporting Person*
Martino Stephen D.
_____________________________________________________________________________
(Last) (First) (Middle)
Five Heritage Trail
_____________________________________________________________________________
(Street)
Scituate MA 02066
_____________________________________________________________________________
(City) (State) (Zip)
10/12/99
_____________________________________________________________________________
2. Date of Event Requiring Statement (Month/Day/Year)
_____________________________________________________________________________
3. IRS Identification Number of Reporting Person, if an Entity (Voluntary)
Fechtor, Detwiler, Mitchell & Co. (Nasdaq: FEDM)
_____________________________________________________________________________
4. Issuer Name and Ticker or Trading Symbol
_____________________________________________________________________________
5. Relationship of Reporting Person to Issuer
(Check all applicable)
[_] Director [_] 10% Owner
[X] Officer (give title below) [_] Other (specify below)
Chief Financial Officer
_____________________________________________________________________________
6. If Amendment, Date of Original (Month/Day/Year)
_____________________________________________________________________________
7. Individual or Joint/Group Filing (Check applicable line)
[X] Form Filed by 1 Reporting Person
[_] Form Filed by More than 1 Reporting Person
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Table I -- Non-Derivative Securities Beneficially Owned
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<TABLE>
<CAPTION>
3. Ownership Form:
2. Amount of Securities Direct (D) or 4. Nature of Indirect
1. Title of Security Beneficially Owned Indirect (I) Beneficial Ownership
(Instr. 4) (Instr. 4) (Instr. 5) (Instr. 4)
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- ---------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
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- ---------------------------------------------------------------------------------------------------------
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</TABLE>
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
(Over)
SEC 1473 (3-99)
<PAGE>
FORM 3 (continued)
Table II -- Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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<TABLE>
<CAPTION>
- -------------------------------------------------------------------------------------------------------------------
3. Title and
Amount of
Securities
Underlying
2. Date Exer- Derivative
cisable and Security 4. Conversion 5. Ownership
Expiration (Instr. 4) or Exercise Form of
Date ---------------- Price of Derivative
(Month/Day/Year) Amount Derivative Security: 6. Nature of
------------------- or Security Direct (D) Indirect
Date Expi- Number Price of or Indirect Beneficial
1. Title of Derivative Security Exer- ration of Derivative (I) Ownership
(Instr. 4) cisable Date Title Shares Security (Instr. 5) (Instr. 5)
- -------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
- --------------------------------------------------------------------------------------------------------------------
Incentive stock option 10/01/ 10/01/ Common 100,000 $1.031 D
(Right to buy) 2000* 2010 Stock
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- --------------------------------------------------------------------------------------------------------------------
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====================================================================================================================
</TABLE>
Explanation of Responses:
* Represents incentive stock options under the 1993 JMC Group, Inc.
Employee Stock Option Plan. Options are vested in three equal
installments each year beginning 10/01/2000.
/s/ Stephen D. Martino 10/18/99
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**Signature of Reporting Person Date
** Intentional misstatements or omissions of facts constitute Federal
Criminal Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed.
If space provided is insufficient, see Instruction 6 for procedure.
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