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                                                                      EXHIBIT 23


                          INDEPENDENT AUDITORS' CONSENT


The Board of Directors
Dain Rauscher Corporation:

     We consent to the incorporation by reference in Registration Statement No.
333-03113, Registration Statement No. 333-20487, Registration Statement No.
33-58069, Registration Statement No. 33-54223, Registration Statement No.
33-54907, Registration Statement No. 33-59426, Registration Statement No.
33-39182, Registration Statement No. 33-25979, post-effective amendment No. 1 to
Registration Statement No. 33-13068, post-effective amendment No. 2 to
Registration Statement No. 33-10243, post-effective amendment No. 2 to
Registration Statement No. 33-10242, post-effective amendment No. 4 to
Registration Statement No. 2-90634, post-effective amendment No. 8 to
Registration Statement No. 2-61514, post-effective amendment No. 11 to
Registration Statement No. 2-57759, post-effective amendment No. 15 to
Registration Statement No. 2-53289, post-effective amendment No. 16 to
Registration Statement No. 2-51150 and Registration Statement No. 1-08186 of
Dain Rauscher Corporation, and subsidiaries of our report dated February 2,
2000, relating to the consolidated balance sheets of Dain Rauscher Corporation
and subsidiaries as of December 31, 1999 and 1998 and the consolidated statement
of income, shareholders' equity and cash flows and the related financial
statement schedule for each of the years in the three-year period ended December
31, 1999, which report appears in the December 31, 1999 Annual Report on Form
10-K of Dain Rauscher Corporation.








                                                       KPMG LLP






Minneapolis, Minnesota
March 17, 2000






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