AS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION ON JULY 3, 2003

                                           REGISTRATION NO. 33-74842


               SECURITIES AND EXCHANGE COMMISSION
                     WASHINGTON, D.C. 20549
                _________________________________
                    POST EFFECTIVE AMENDMENT
                            NO. 1 TO

                            FORM S-8
                     REGISTRATION STATEMENT
                              UNDER
                   THE SECURITIES ACT OF 1933
                ________________________________

                    DETWILER, MITCHELL & CO.
     (Exact name of registrant as specified in its charter)

                            DELAWARE
 (State or other jurisdiction of incorporation or organization)

                           95-2627415
              (I.R.S. Employer Identification No.)

                 225 FRANKLIN STREET, 20TH FLOOR
                   BOSTON, MASSACHUSETTS 02110
            (Address of Principal Executive Offices)

               _________________________________


                         JMC GROUP, INC.
                 1993 EMPLOYEE STOCK OPTION PLAN
                    (Full title of the plan)

               _________________________________

                        JAMES K. MITCHELL
                    DETWILER, MITCHELL & CO.
                 225 FRANKLIN STREET, 20TH FLOOR
                   BOSTON, MASSACHUSETTS 02110
                         (617) 747-0100
              (Name, address and telephone number,
               including area code, of agent for service)

               ________________________________

                            COPY TO:

                      David R. Snyder, Esq.
                     Pillsbury Winthrop LLP
                  101 West Broadway, Suite 1800
                   San Diego, California 92101
                         (619) 234-5000
                ________________________________


     THIS POST-EFFECTIVE AMENDMENT NO. 1 IS BEING FILED TO
TERMINATE REGISTRATION STATEMENT NO. 33-74842 AND THEREBY
DEREGISTER ALL SHARES OF COMMON STOCK WHICH WERE REGISTERED UNDER
THIS REGISTRATION STATEMENT AND HAVE NOT YET BEEN ISSUED.  THE
ISSUER MAY UNDERTAKE A SUBSEQUENT PRIVATE OFFERING IN RELIANCE ON
RULE 155(C).



                           SIGNATURES

     Pursuant to the requirements of the Securities Act of 1933,
Detwiler, Mitchell & Co. certifies that it has reasonable grounds
to believe that it meets all of the requirements for filing on
Form S-8 and has duly caused this Post-Effective Amendment No. 1
to be signed on its behalf by the undersigned, thereunto duly
authorized, in the City of Boston, Commonwealth of Massachusetts,
on this 3rd day of July, 2003.

                              Detwiler, Mitchell & Co.

                              By:  /s/James K. Mitchell
                                 -------------------------------------
                                 James K. Mitchell
                                 Chairman and Chief Executive Officer

     Pursuant to the requirements of the Securities Act of 1933,
this Post-Effective Amendment to Registration Statement has been
signed by the following persons in the capacities and on the
dates indicated.

     SIGNATURE                  TITLE                  DATE
/s/James K. Mitchell      Chairman and Chief          July 3, 2003
- ----------------------     Executive Officer
James Mitchell             (Principal Executive
                            Officer)


/s/Stephen Martino        Chief Financial Officer     July 3, 2003
- -----------------------   (Principal Financial and
Stephen Martino            Accounting Officer)

/s/James Graves           Vice Chairman, Chief        July 3, 2003
- -----------------------   Operating Officer and
James Graves              Director

/s/ Robert Detwiler       President and Director      July 3, 2003
- -----------------------
Robert Detwiler

/s/ Frank Jenkins         Director                    July 3, 2003
- -----------------------
Frank Jenkins

/s/Robert Sharp           Director                    July 3, 2003
- -----------------------
Robert Sharp




                                  2