EXHIBIT 32.2

                CHIEF FINANCIAL OFFICER CERTIFICATION PURSUANT TO
                 18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO
                  SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

This certification set forth below is hereby made solely for the purpose of
satisfying the requirements of Section 906 of the Sarbanes-Oxley Act of 2002 and
may not be relied upon or used for any other purposes.

In connection with the Quarterly Report of Investors Capital Holdngs, Ltd. (the
"Company") on Form 10-Q for the period ended June 30, 2004, as filed with the
Securities and Exchange Commission on the date hereof (the "Report"), I, Timothy
B. Murphy, Chief Financial Officer of the Company, certify, pursuant to 18
U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley
Act of 2002, that to my knowledge: (1) the Report fully complies with the
requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934;
and (2) the information contained in the Report fairly presents, in all material
respects, the financial condition and results of operations of the Company.

A signed original of this written statement required by Section 906 or other
document authenticating, acknowledging or otherwise adopting the signature that
appears in typed form within the electronic version of this written statement
required by Section 906 has been provided to the Company and will be retained by
the Company and furnished to the Securities and Exchange Commission or its staff
upon request.


Date:  August 13, 2004                                 By: /s/ Timothy B. Murphy
                                                       -------------------------
                                                       Timothy B. Murphy
                                                       Chief Financial Officer


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