SECURITIES AND EXCHANGE COMMISSION
                         WASHINGTON, DC  20549


                                FORM 10-Q

(Mark One)
            QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
    X       SECURITIES EXCHANGE ACT OF 1934

            For the quarter ended       June 30, 1999

            TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF
            THE SECURITIES EXCHANGE ACT OF 1934

            For the transition period from           to
            Commission File Number:      1-8408

                    THE ADVEST GROUP, INC.
           (Exact name of registrant as specified in its charter)

               Delaware                                   06-0950444
 (State or other jurisdiction of                        (IRS Employer
  incorporation or organization)                    Identification Number)

       90 State House Square
       Hartford, Connecticut                                  06103
(Address of principal executive offices)                    (Zip Code)

    Registrant's telephone number, including area code:  (860) 509-1000

                                     NONE
     Former name, former address and former fiscal year, if changed since
                                 last report.

Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to
such filing requirements for the past 90 days.

                                           Yes    X         No

Indicate the number of shares outstanding of each of the issuer's classes of
common stock, as of the latest practicable date.

Common Stock, $.01 par value                        8,922,556  Shares
           Class                             Outstanding at August 5, 1999




                           THE ADVEST GROUP, INC.

                                   INDEX


                                                                    Page No.
Part I.  Financial Information

Item 1.   Financial Statements

     Condensed Consolidated Balance Sheets
          June 30, 1999 and September 30, 1998                          3

     Condensed Consolidated Statements of Earnings
          Three and Nine Months Ended June 30, 1999 and 1998            4

     Condensed Consolidated Statements of Cash Flows
          Nine Months Ended June 30, 1999 and 1998                      5

     Notes to Consolidated Financial Statements                         6

Item 2.   Management's Discussion and Analysis of Financial
          Condition and Results of Operations                           9

Item 3.   Quantitative and Qualitative Disclosures About Market Risk   13


Part II.  Other Information

Item 1.   Legal Proceedings                                            14

Item 2.   Changes in Securities                                        14

Item 6.   Exhibits and Reports on Form 8-K                             14

Signatures                                                             16


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