Exhibit 32.1


                                  CERTIFICATION

     In connection with the quarterly report on Form 10-Q of Investors Capital
Holdings, Ltd. (the "Company") for the period ended September 30, 2003 as filed
with the Securities and Exchange Commission on the date hereof (the "Report"),
the undersigned, Theodore E. Charles, Chief Executive Officer of the Company,
hereby certifies, pursuant to 18 U.S.C. Section 1350, that:

(1)  the Report fully complies with the requirements of Section 13(a) or 15(d)
     of the Securities Exchange Act of 1934 (15 U.S.C. 78m(a) of 78(d); and

(2)  the information contained in the Report fairly presents, in all material
     respects, the financial condition and results of operations of Investors
     Capital Holdings, Ltd.


Date:    November 14, 2003                  By:  /s/ Theodore E. Charles
                                               -------------------------------
                                                     Theodore E. Charles
                                                     Chief Executive Officer