MIAMI, NEW YORK and WASHINGTON, Oct. 29, 2025 (GLOBE NEWSWIRE) -- Siebert Financial Corp. (NASDAQ: SIEB) today announced the opening of a Washington, D.C. office to support its expanding Capital Markets and Investment Banking team. Located at 3000 K Street, N.W., Suite 245, Washington, D.C., the new office will be led by Daniel M. Ondeck, Head of Institutional Sales, who works closely with Siebert’s investment bankers on origination and execution across public and private markets, as well as by newly appoin ...

Core Insights - Siebert Financial Corp. and Next Securities have entered into a strategic agreement to combine AI technology with financial infrastructure, aiming to enhance trading ease and market insights for investors [1][2][3] Company Overview - Siebert Financial Corp. is a diversified financial services company with a history dating back to 1967, known for its brokerage and financial advisory services [7][9] - Next Securities is a Korean fintech and broker-dealer focused on AI-driven user experience in brokerage services, aiming to transform investment engagement [10] Strategic Agreement Details - The agreement leverages Next Securities' AI expertise and Siebert's financial infrastructure to create a platform that integrates trading convenience with high-quality financial information [3][4] - Both companies plan to explore further opportunities for collaboration, including technology integration and global expansion efforts [4][5] Leadership Perspectives - John J. Gebbia, CEO of Siebert, emphasized the importance of integrating technology and insights for investors, highlighting the potential for richer, AI-enabled experiences [4] - Seungyeon Kim, CEO of Next Securities, noted that the partnership will empower investors with innovative tools and reshape engagement with financial markets [5]

Core Insights - Siebert Financial Corp. has launched Digital Assets Research within its Capital Markets division, appointing Brian P. Vieten as Research Analyst to provide institutional-grade research on cryptocurrency and blockchain-related sectors [1][2]. Group 1: Company Developments - The new Digital Assets Research group aims to publish research on cryptocurrency, blockchain infrastructure, Web3 applications, and public companies with significant exposure to digital assets, enhancing Siebert's research capabilities [1][4]. - Brian P. Vieten, with nearly a decade of equity research experience and eight years in the crypto space, previously worked at Needham & Company focusing on Crypto Assets and Blockchain [2][4]. - The initiative is part of Siebert's broader strategy to expand its institutional services and support clients in navigating the evolving digital asset landscape [4][6]. Group 2: Market Trends - There is a growing client demand for rigorous digital asset research, indicating a shift in market focus towards cryptocurrency and blockchain technologies [2][3]. - The integration of tokenization and decentralized finance (DeFi) is blurring the lines between traditional finance (TradFi) and the digital ecosystem, highlighting the need for informed research [3][4]. - Digital assets are increasingly recognized as a significant factor reshaping market structures and investor behaviors, moving beyond being a niche topic [4].

Core Insights - Siebert Financial Corp. has appointed Daniel M. Ondeck as Head of Institutional Sales, aiming to enhance institutional client coverage and distribution across various sectors [1][4]. Group 1: Appointment and Role - Daniel M. Ondeck brings over 20 years of experience in institutional sales and capital markets, having previously held senior roles at FBR Capital Markets and B. Riley Financial [2][3]. - In his new role, Ondeck will collaborate with Siebert's investment bankers to originate and distribute offerings in both public and private markets, including structured debt and equity [3][4]. Group 2: Leadership Statements - Ondeck expressed enthusiasm about joining Siebert and emphasized the goal of providing innovative capital solutions and unique investment opportunities [4]. - Ajay Asija, Co-Head of Investment Banking, highlighted Ondeck's strong institutional relationships and effectiveness in raising capital [4]. - Randy Billhardt, Head of Capital Markets, noted that Ondeck's leadership will enhance coverage and distribution, supporting the firm's growth in capital markets and research for institutional clients [4]. Group 3: Company Background - Siebert Financial Corp. is a diversified financial services company and has been a member of the NYSE since 1967, known for its commitment to clients, shareholders, and employees [5][6]. - The company operates through various subsidiaries, offering a full range of brokerage and financial advisory services, including investment banking and capital markets services [6].

Core Insights - Siebert Financial Corp. is expanding its partnership with Kakao Pay and Kakao Pay Securities to enhance cross-border brokerage services and investor tools between South Korea and the United States [1][2] Group 1: Partnership Objectives - The collaboration aims to leverage Kakao Pay's mobile platform and Siebert's regulated market access to facilitate investment opportunities across markets [2] - The partnership focuses on three main workstreams: cross-border brokerage, investor experience with AI support, and next-generation infrastructure [3][5] Group 2: Collaborative Initiatives - International trading opportunities are already operational for eligible clients, with efforts to connect order routing, clearing, FX, Securities Landing, and Equity Options [3] - A daily U.S. market analysis is being provided to Kakao Pay Securities's 8 million users, enhancing their investment insights [4] - Joint working groups are being established to address technology, client experience, supervision, and regulatory review in preparation for launching new services [4] Group 3: Service Offerings - The partnership will provide South Korean investors access to U.S. equities, securities landing, ETFs, and options, along with managed portfolios and capital markets opportunities [5] - AI-driven tools will be developed to enhance research, insights, and trading assistance, promoting financial literacy among users [5] - Future infrastructure will support digital finance capabilities, including access to digital assets and Security Token Offerings (STOs) [5]

PART I - FINANCIAL INFORMATION [ITEM 1. FINANCIAL STATEMENTS](index=5&type=section&id=ITEM%201.%20FINANCIAL%20STATEMENTS) This section presents the unaudited condensed consolidated financial statements, including the statements of financial condition, operations, changes in equity, and cash flows, along with detailed notes explaining the company's accounting policies, significant transactions, and financial position for the periods ended June 30, 2025, and December 31, 2024 [CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION](index=5&type=section&id=CONDENSED%20CONSOLIDATED%20STATEMENTS%20OF%20FINANCIAL%20CONDITION) This statement provides a snapshot of the company's assets, liabilities, and equity at specific points in time, highlighting changes in financial position - | Metric | June 30, 2025 (unaudited) | December 31, 2024 | | :------------------------------------------------ | :------------------------ | :------------------ | | Total Assets | $560,512,000 | $519,668,000 | | Total Liabilities | $470,524,000 | $434,576,000 | | Total Equity | $89,988,000 | $85,092,000 | | Cash and cash equivalents | $28,949,000 | $32,629,000 | | Securities segregated for regulatory purposes | $146,051,000 | $204,587,000 | | Securities borrowed | $238,721,000 | $139,040,000 | | Payables to customers | $217,870,000 | $227,129,000 | | Securities loaned | $235,674,000 | $184,962,000 | - Total Assets increased by **$40.8 million (7.9%)** from December 31, 2024, to June 30, 2025, primarily driven by an increase in securities borrowed, partially offset by a decrease in cash and securities segregated for regulatory purposes[16](index=16&type=chunk)[191](index=191&type=chunk) - Total Liabilities increased by **$35.9 million (8.3%)** from December 31, 2024, to June 30, 2025, mainly due to an increase in securities loaned, partially offset by a decrease in payables to customers[16](index=16&type=chunk)[192](index=192&type=chunk) [CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS](index=7&type=section&id=CONDENSED%20CONSOLIDATED%20STATEMENTS%20OF%20OPERATIONS) This statement details the company's revenues, expenses, and net income (loss) over specific periods, reflecting operational performance - | Metric | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Change (YoY) | | :------------------------------------ | :------------------------------- | :------------------------------- | :----------- | | Total Revenue | $14,874,000 | $20,863,000 | -28.7% | | Operating income (loss) | $(5,832,000) | $5,579,000 | -204.7% | | Net income (loss) | $(4,719,000) | $4,047,000 | -216.6% | | Net income (loss) available to common stockholders | $(4,719,000) | $4,040,000 | -216.3% | | Basic and diluted EPS | $(0.12) | $0.10 | -220.0% | - | Metric | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | Change (YoY) | | :------------------------------------ | :----------------------------- | :----------------------------- | :----------- | | Total Revenue | $43,793,000 | $41,319,000 | 6.0% | | Operating income (loss) | $4,664,000 | $10,681,000 | -56.3% | | Net income (loss) | $3,942,000 | $7,734,000 | -49.0% | | Net income (loss) available to common stockholders | $3,945,000 | $7,728,000 | -48.9% | | Basic and diluted EPS | $0.10 | $0.19 | -47.4% | - The significant operating loss for the three months ended June 30, 2025, was primarily due to a **realized and unrealized loss of $6.8 million** on the Investment in Equity Security[150](index=150&type=chunk)[152](index=152&type=chunk) [CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY](index=8&type=section&id=CONDENSED%20CONSOLIDATED%20STATEMENTS%20OF%20CHANGES%20IN%20EQUITY) This statement tracks changes in the company's equity over time, including net income, share-based compensation, and noncontrolling interests - | Metric | June 30, 2025 | December 31, 2024 | | :------------------------------------ | :------------ | :---------------- | | Total Stockholders' equity | $89,020,000 | $84,086,000 | | Noncontrolling interests | $968,000 | $1,006,000 | | Total Equity | $89,988,000 | $85,092,000 | - Total Stockholders' equity increased by **$4.9 million** from December 31, 2024, to June 30, 2025, primarily due to share-based compensation and net income (loss) for the period[17](index=17&type=chunk)[20](index=20&type=chunk) - Share-based compensation contributed **$989,000** to additional paid-in capital for the six months ended June 30, 2025[20](index=20&type=chunk) [CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS](index=9&type=section&id=CONDENSED%20CONSOLIDATED%20STATEMENTS%20OF%20CASH%20FLOWS) This statement summarizes the cash inflows and outflows from operating, investing, and financing activities, showing changes in liquidity - | Cash Flow Activity | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :------------------------------------ | :----------------------------- | :----------------------------- | | Net cash used in operating activities | $(33,830,000) | $(28,361,000) | | Net cash used in investing activities | $(4,386,000) | $(2,852,000) | | Net cash used in financing activities | $(79,000) | $(43,000) | | Net change in cash and cash equivalents, and cash segregated for regulatory purposes | $(38,295,000) | $(31,256,000) | | Cash and cash equivalents, and cash segregated for regulatory purposes - end of period | $130,163,000 | $133,281,000 | - Cash used in operating activities increased by **$5.5 million** for the six months ended June 30, 2025, compared to the prior year, primarily due to changes in securities loaned, securities borrowed, and payables to customers[21](index=21&type=chunk)[211](index=211&type=chunk) - Cash used in investing activities increased by **$1.5 million** for the six months ended June 30, 2025, driven by an investment in FusionIQ, partially offset by less investment in office facilities[21](index=21&type=chunk)[211](index=211&type=chunk) [NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS](index=11&type=section&id=NOTES%20TO%20CONDENSED%20CONSOLIDATED%20FINANCIAL%20STATEMENTS) This section provides detailed explanations and additional information supporting the condensed consolidated financial statements [Note 1. Organization and Basis of Presentation](index=11&type=section&id=Note%201.%20Organization%20and%20Basis%20of%20Presentation) This note describes the company's structure, business operations, and the accounting principles used in preparing the financial statements - Siebert Financial Corp. operates as a single reportable segment, providing comprehensive brokerage services including custody and clearing of retail accounts, investment banking, insurance, advisory services, principal transaction and proprietary trading, market making, and securities lending[25](index=25&type=chunk)[26](index=26&type=chunk) - The company's subsidiaries include Muriel Siebert & Co., LLC (MSCO), Siebert AdvisorNXT, LLC (SNXT), Park Wilshire Companies, Inc. (PW), Siebert Technologies, LLC (STCH), RISE Financial Services, LLC (RISE), StockCross Digital Solutions, Ltd. (STXD), and Gebbia Media, LLC (GM)[27](index=27&type=chunk) - In June 2025, the company sold the majority of its Investment in Equity Security for an average price of **$19.00 per share**, recognizing a total loss of **$6.8 million** for the three months ended June 30, 2025, and a total gain of **$2.4 million** for the six months ended June 30, 2025[36](index=36&type=chunk) [Note 2. New Accounting Standards](index=14&type=section&id=Note%202.%20New%20Accounting%20Standards) This note outlines recently issued accounting standards and their expected impact on the company's financial reporting - ASU 2023-09, 'Improvements to Income Tax Disclosures,' effective for annual periods beginning after December 15, 2024, is expected to cause considerable changes to income tax footnotes[40](index=40&type=chunk) - ASU 2024-03, 'Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures,' effective for annual periods beginning after December 15, 2025, is anticipated to require significant changes to expense disclosures[41](index=41&type=chunk) - The Company did not adopt any new accounting standards during the three and six months ended June 30, 2025, and does not believe other recently issued standards will have a material impact[42](index=42&type=chunk) [Note 3. Asset Acquisition](index=14&type=section&id=Note%203.%20Asset%20Acquisition) This note details the acquisition of specific assets, including their cost and amortization policy - On April 30, 2025, the Company acquired certain assets from Big Machine Label Group RLS LLC (BMLG) related to music masters, including copyrights and artwork, for **$441,000**[43](index=43&type=chunk) - The acquisition cost was allocated entirely to the recorded masters intangible asset, which will be amortized on a straight-line basis over an estimated useful life of **8.5 years**[43](index=43&type=chunk)[44](index=44&type=chunk) [Note 4. Receivables From, Payables To, and Deposits With Broker-Dealers and Clearing Organizations](index=15&type=section&id=Note%204.%20Receivables%20From,%20Payables%20To,%20and%20Deposits%20With%20Broker-Dealers%20and%20Clearing%20Organizations) This note provides a breakdown of balances with broker-dealers and clearing organizations, reflecting intercompany and operational financial positions - | Category | June 30, 2025 | December 31, 2024 | | :------------------------------------------------ | :------------ | :---------------- | | Total Receivables from and deposits with broker-dealers and clearing organizations | $12,477,000 | $8,147,000 | | Total Payables to broker-dealers and clearing organizations | $1,179,000 | $444,000 | - Receivables from and deposits with broker-dealers and clearing organizations increased by **$4.33 million**, primarily due to higher balances with DTCC/OCC/NSCC and underwriting fees receivable[45](index=45&type=chunk) - Payables to broker-dealers and clearing organizations increased by **$0.735 million**, mainly due to an increase in securities fail-to-receive and payables to broker-dealers[45](index=45&type=chunk) [Note 5. Fair Value Measurements](index=15&type=section&id=Note%205.%20Fair%20Value%20Measurements) This note details the fair value hierarchy and measurement techniques used for financial assets and liabilities - | Asset/Liability (June 30, 2025) | Level 1 | Level 2 | Level 3 | Total | | :------------------------------------------------ | :---------- | :-------- | :-------- | :---------- | | U.S. government securities (segregated) | $44,837,000 | $— | $— | $44,837,000 | | Securities owned, at fair value | $18,936,000 | $539,000 | $— | $19,475,000 | | Securities sold, not yet purchased, at fair value | $7,000 | $— | $— | $7,000 | - | U.S. Government Securities Market Value | June 30, 2025 | December 31, 2024 | | :-------------------------------------- | :------------ | :---------------- | | Maturing in 2025 | $44,837,000 | $80,739,000 | | Maturing in 2026 | $16,542,000 | $8,019,000 | | Accrued interest | $89,000 | $86,000 | | Total Market value | $61,468,000 | $88,844,000 | - The Company's financial assets not measured at fair value, such as cash and cash equivalents, securities borrowed, and various receivables, are recorded at carrying value, which approximates fair value due to their short-term nature[54](index=54&type=chunk) [Note 6. Property, Office Facilities, and Equipment, Net](index=18&type=section&id=Note%206.%20Property,%20Office%20Facilities,%20and%20Equipment,%20Net) This note provides details on the company's fixed assets, including their carrying value and depreciation - | Category | June 30, 2025 | December 31, 2024 | | :------------------------------------ | :------------ | :---------------- | | Total Property, office facilities, and equipment, net | $10,124,000 | $10,245,000 | | Accumulated depreciation | $(2,168,000) | $(1,680,000) | - Total depreciation expense for property, office facilities, and equipment was **$629,000** for the three months ended June 30, 2025, an increase of **$293,000** from the prior year[56](index=56&type=chunk)[174](index=174&type=chunk) - The Company invested **$188,000** in the six months ended June 30, 2025, to build out its Miami office building, where depreciation commenced in April 2023[59](index=59&type=chunk) [Note 7. Software, Net](index=19&type=section&id=Note%207.%20Software,%20Net) This note details the company's capitalized software costs, including development expenses and amortization - | Category | June 30, 2025 | December 31, 2024 | | :------------------------------------ | :------------ | :---------------- | | Total Software, net | $5,956,000 | $4,836,000 | | Retail Platform capitalized cost | $5,450,000 | $4,093,000 | | Accumulated amortization | $(1,489,000) | $(1,031,000) | - Software development costs related to the Retail Platform totaled **$5.45 million** as of June 30, 2025, with **$3.872 million** placed into service during the six months ended June 30, 2025[60](index=60&type=chunk)[61](index=61&type=chunk) - Total amortization of software was **$458,000** for the six months ended June 30, 2025, an increase of **$226,000** from the prior year[61](index=61&type=chunk) [Note 8. Leases](index=19&type=section&id=Note%208.%20Leases) This note provides information on the company's lease arrangements, including lease terms, discount rates, and future payment obligations - | Lease Metric | June 30, 2025 | December 31, 2024 | | :------------------------------------ | :------------ | :---------------- | | Weighted average remaining lease term – operating leases (in years) | 3.0 | 3.3 | | Weighted average discount rate – operating leases | 7.5% | 7.3% | - | Lease Cost | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :------------------------------------ | :----------------------------- | :----------------------------- | | Operating lease cost | $538,000 | $534,000 | | Short-term lease cost | $196,000 | $221,000 | | Variable lease cost | $175,000 | $120,000 | | Total Rent and occupancy | $909,000 | $875,000 | - | Future Annual Minimum Lease Payments (Operating Leases) | | :------------------------------------------------ | :----------- | | 2025 | $503,000 | | 2026 | $864,000 | | 2027 | $613,000 | | 2028 | $522,000 | | 2029 | $58,000 | | Remaining balance of lease payments | $2,560,000 | | Lease liabilities | $2,283,000 | [Note 9. Goodwill and Other Intangible Assets, Net](index=20&type=section&id=Note%209.%20Goodwill%20and%20Other%20Intangible%20Assets,%20Net) This note outlines the company's goodwill and other intangible assets, including their carrying values and amortization schedules - Goodwill remained at **$2.319 million** as of June 30, 2025, with no impairment charges recognized during the period[67](index=67&type=chunk) - Other intangible assets include GM artist contracts (**$778,000 fair value**, 4-year useful life) and BMLG music masters (**$441,000 cost**, 8.5-year useful life)[68](index=68&type=chunk)[69](index=69&type=chunk) - | Future Amortization of Other Intangible Assets | | :--------------------------------------------- | :----------- | | 2025 | $134,000 | | 2026 | $249,000 | | 2027 | $249,000 | | 2028 | $168,000 | | 2029 and after | $240,000 | | Total | $1,040,000 | [Note 10. Investments, Cost](index=21&type=section&id=Note%2010.%20Investments,%20Cost) This note describes the company's cost-method investments, including details of new acquisitions and their valuation approach - In Q2 2025, the Company invested **$2.0 million** in IQvestment Holdings, LLC (FusionIQ), a cloud-native digital wealth management platform, acquiring a **3% ownership interest**[71](index=71&type=chunk) - The investment is measured at cost, less impairment, and adjusted for observable price changes, as FusionIQ is a private company without a readily determinable fair value[71](index=71&type=chunk) [Note 11. Long-Term Debt](index=21&type=section&id=Note%2011.%20Long-Term%20Debt) This note provides details on the company's long-term debt obligations, including mortgage balances, interest rates, and repayment schedules - The outstanding balance of the mortgage with East West Bank for the Miami office building was **$4.184 million** as of June 30, 2025, down from **$4.228 million** at December 31, 2024[73](index=73&type=chunk) - The mortgage has a **10-year term** with a **30-year amortization period**, an interest rate of **3.6%** for the first 7 years, and requires a debt service coverage ratio of **1.4 to 1**[74](index=74&type=chunk) - | Future Annual Minimum Principal Payments (Mortgage) | | :------------------------------------------------ | :----------- | | 2025 | $44,000 | | 2026 | $91,000 | | 2027 | $95,000 | | 2028 | $98,000 | | 2029 | $112,000 | | Thereafter | $3,744,000 | | Total | $4,184,000 | [Note 12. Deferred Contract Incentive](index=22&type=section&id=Note%2012.%20Deferred%20Contract%20Incentive) This note explains the deferred contract incentive related to the clearing agreement, including recognition as contra expense and remaining balance - MSCO's clearing agreement with NFS, extended to July 31, 2025, includes a **$3 million business development credit** and four annual **$100,000 credits**, recognized as contra expense[76](index=76&type=chunk)[77](index=77&type=chunk) - The Company recognized **$213,000** in contra expense for both the three months ended June 30, 2025 and 2024, and **$425,000** for both six-month periods[78](index=78&type=chunk) - The balance of the deferred contract incentive was **$71,000** as of June 30, 2025, down from **$496,000** at December 31, 2024[78](index=78&type=chunk) [Note 13. Revenue Recognition](index=22&type=section&id=Note%2013.%20Revenue%20Recognition) This note details the company's revenue streams, distinguishing between revenue from contracts with customers and other revenue sources - Revenue from contracts with customers increased to **$12.377 million** for the three months ended June 30, 2025, from **$11.811 million** in the prior year, and to **$23.747 million** for the six months ended June 30, 2025, from **$22.252 million** in the prior year[84](index=84&type=chunk) - Revenue outside the scope of Topic 606 decreased to **$2.497 million** for the three months ended June 30, 2025, from **$9.052 million** in the prior year, primarily due to a **$6.8 million loss** on the Investment in Equity Security[84](index=84&type=chunk) - For the six months ended June 30, 2025, revenue outside the scope of Topic 606 increased to **$20.046 million** from **$19.067 million**, driven by a **$2.43 million gain** on the Investment in Equity Security[84](index=84&type=chunk) [Note 14. Income Taxes](index=23&type=section&id=Note%2014.%20Income%20Taxes) This note provides an analysis of the company's income tax provision, effective tax rates, and uncertain tax positions - | Metric | Three Months Ended June 30, 2025 | Six Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2024 | | :------------------------------------ | :------------------------------- | :----------------------------- | :------------------------------- | :----------------------------- | | Income tax (benefit) provision | $(1,113,000) | $722,000 | $1,532,000 | $2,947,000 | | Pre-tax book income (loss) | $(5,832,000) | $4,664,000 | $5,579,000 | $10,681,000 | | Effective tax rate | 19.1% | 15.5% | 27.5% | 27.6% | - The effective tax rate for the three and six months ended June 30, 2025, differed from the federal statutory rate of **21%** primarily due to the utilization of deferred tax assets for capital loss carryforwards, resulting in an income tax benefit[86](index=86&type=chunk) - The Company recorded an uncertain tax position of **$1.354 million** as of both June 30, 2025, and December 31, 2024, included in 'Taxes payable'[88](index=88&type=chunk) [Note 15. Capital Requirements](index=24&type=section&id=Note%2015.%20Capital%20Requirements) This note details the regulatory capital requirements for the company's broker-dealer subsidiaries and their compliance status - | Entity | Metric | June 30, 2025 | December 31, 2024 | | :------------------------------------ | :------------------------------------ | :------------ | :---------------- | | MSCO | Net capital | $62,400,000 | $63,900,000 | | MSCO | Required net capital | $1,900,000 | $1,900,000 | | MSCO | Excess net capital | $60,500,000 | $62,000,000 | | MSCO | Percentage of aggregate debit balances to net capital | 66.45% | 65.84% | | MSCO | Special reserve account deposits | $144,700,000 | $203,300,000 | | MSCO | Special reserve account deposit requirement | $140,900,000 | $193,800,000 | | RISE | Regulatory net capital | $1,200,000 | $1,300,000 | | RISE | Minimum requirement (15c3-1) | $250,000 | $250,000 | - MSCO maintained net capital of **$62.4 million** as of June 30, 2025, exceeding its **$1.9 million** requirement by **$60.5 million**[90](index=90&type=chunk) - RISE's regulatory net capital was approximately **$1.2 million** as of June 30, 2025, exceeding its minimum requirement of **$250,000** by **$0.9 million**[97](index=97&type=chunk) [Note 16. Financial Instruments with Off-Balance Sheet Risk](index=25&type=section&id=Note%2016.%20Financial%20Instruments%20with%20Off-Balance%20Sheet%20Risk) This note describes the company's exposure to off-balance sheet risks, such as margin loans and securities borrowing/lending activities - The Company had margin loans extended to customers of approximately **$394.2 million** as of June 30, 2025, with **$79.9 million** included in 'Receivables from customers'[99](index=99&type=chunk) - | Securities Borrowing and Lending Activity (June 30, 2025) | | :------------------------------------------------ | :-------------------- | | Gross Amounts of Recognized Assets (Securities borrowed) | $238,721,000 | | Net Amounts Presented in Consolidated Statements of Financial Condition (Securities borrowed) | $238,721,000 | | FMV - Collateral Received or Pledged (Securities borrowed) | $227,061,000 | | Net Amount (Securities borrowed) | $11,660,000 | | Gross Amounts of Recognized Liabilities (Securities loaned) | $235,674,000 | | Net Amounts Presented in Consolidated Statements of Financial Condition (Securities loaned) | $235,674,000 | | FMV - Collateral Received or Pledged (Securities loaned) | $223,407,000 | | Net Amount (Securities loaned) | $12,267,000 | - No material losses were incurred for unsettled customer transactions for the three and six months ended June 30, 2025 and 2024[99](index=99&type=chunk) [Note 17. Earnings Per Common Share](index=26&type=section&id=Note%2017.%20Earnings%20Per%20Common%20Share) This note presents the calculation of basic and diluted earnings per common share, including the impact of antidilutive shares - | Metric | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :------------------------------------ | :------------------------------- | :------------------------------- | :----------------------------- | :----------------------------- | | Net income (loss) available to common stockholders | $(4,719,000) | $4,040,000 | $3,945,000 | $7,728,000 | | Weighted-average common shares outstanding - basic | 40,399,958 | 39,890,606 | 40,296,571 | 39,830,002 | | Basic EPS | $(0.12) | $0.10 | $0.10 | $0.19 | | Diluted EPS | $(0.12) | $0.10 | $0.10 | $0.19 | - For the three and six months ended June 30, 2025, the Company had **0 and 300,000 antidilutive shares** outstanding, respectively, which were excluded from diluted EPS computation[106](index=106&type=chunk) [Note 18. Commitments, Contingencies, and Other](index=27&type=section&id=Note%2018.%20Commitments,%20Contingencies,%20and%20Other) This note discloses the company's various commitments, contingencies, and other significant events, including credit facilities and legal matters - MSCO has an available line of credit for short-term overnight demand borrowing with BMO Harris Bank of up to **$25 million**, with no outstanding balance as of June 30, 2025[108](index=108&type=chunk) - MSCO entered into a BMO Credit Agreement on November 22, 2024, providing a revolving credit facility of up to **$20 million**, with an annual commitment fee of **0.50%** of the unused portion[110](index=110&type=chunk)[111](index=111&type=chunk) - The Company filed a shelf registration statement on Form S-3 on May 30, 2025, for the potential offering of up to **$100.0 million** in various securities, with **$50 million** allocated to an At the Market program[115](index=115&type=chunk)[206](index=206&type=chunk) - The NFS clearing agreement, extended to July 31, 2025, includes an early termination fee of **$3.25 million** if terminated before August 1, 2025, though the Company believes early termination is unlikely[117](index=117&type=chunk) [Note 19. Segment Reporting](index=29&type=section&id=Note%2019.%20Segment%20Reporting) This note clarifies that the company operates as a single reportable segment, reflecting its consolidated management approach - The Company operates as a **single reportable segment**, a securities broker-dealer, as its Chief Operating Decision Maker (CODM) manages business activities and evaluates performance from a consolidated perspective[123](index=123&type=chunk) [Note 20. Employee Benefit Plans](index=29&type=section&id=Note%2020.%20Employee%20Benefit%20Plans) This note provides details on the company's employee benefit plans, including 401(k) contributions and stock-based compensation - The Company incurred **$184,000** in 401(k) employee contribution matching expense for the six months ended June 30, 2025, up from **$163,000** in the prior year[124](index=124&type=chunk) - The Siebert Financial Corp. 2021 Equity Incentive Plan had **1,075,000 nonvested shares** as of June 30, 2025, with **$2.607 million** in unrecognized compensation cost expected to be recognized over **2.61 years**[125](index=125&type=chunk)[128](index=128&type=chunk) - Stock-based compensation expense was **$989,000** for the six months ended June 30, 2025, an increase from **$385,000** in the prior year, included in 'Employee compensation and benefits'[130](index=130&type=chunk) [Note 21. Related Party Disclosures](index=30&type=section&id=Note%2021.%20Related%20Party%20Disclosures) This note discloses transactions and relationships with related parties, including executive compensation and credit facility guarantees - Compensation for the sons of Gloria E. Gebbia and John J. Gebbia, who hold executive positions, aggregated **$1.859 million** for the six months ended June 30, 2025, up from **$1.539 million** in the prior year[135](index=135&type=chunk) - The Company's obligations under a **$20 million revolving credit facility** with East West Bank are guaranteed by John J. Gebbia, Gloria E. Gebbia, and their living trust[113](index=113&type=chunk)[139](index=139&type=chunk) - On June 27, 2025, Siebert Financial Corp. entered into a Sales Agreement with MSCO and Ladenburg Thalmann & Co. Inc. for an 'at-the-market' offering of up to **$50 million** in common stock, with agents receiving a **3.0% commission**[144](index=144&type=chunk) [Note 22. Subsequent Events](index=32&type=section&id=Note%2022.%20Subsequent%20Events) This note reports on significant events that occurred after the reporting period but before the financial statements were issued - No material subsequent events occurred between June 30, 2025, and August 12, 2025, that would require disclosure or recognition in the financial statements[145](index=145&type=chunk) [ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS](index=33&type=section&id=ITEM%202.%20MANAGEMENT'S%20DISCUSSION%20AND%20ANALYSIS%20OF%20FINANCIAL%20CONDITION%20AND%20RESULTS%20OF%20OPERATIONS) This section provides management's perspective on the company's financial performance and condition, discussing key factors affecting operations, detailed revenue and expense analysis, liquidity, capital resources, and critical accounting policies [Overview](index=33&type=section&id=Overview) This overview introduces the company's business model and the external factors influencing its financial results - The Company is a financial services firm offering retail brokerage, investment advisory, insurance, and technology development services through its subsidiaries[148](index=148&type=chunk) - Financial results are highly correlated to general economic conditions, U.S. equity and fixed-income markets, market volatility, interest rates, and regulatory trends, which are unpredictable and beyond the company's control[149](index=149&type=chunk) [Financial Overview](index=33&type=section&id=Financial%20Overview) This section summarizes the company's key financial performance metrics for the reporting period, highlighting significant changes and their drivers - | Metric | Q2 2025 | Q2 2024 | Change (YoY) | | :------------------------------------ | :------ | :------ | :----------- | | Loss per share | $(0.12) | $0.10 | -220.0% | | Revenues | $14,900,000 | $20,900,000 | -28.7% | | Operating loss before taxes | $(5,800,000) | $5,600,000 | -203.6% | - The operating loss in Q2 2025 was substantially due to a **$6.8 million realized and unrealized loss** on the Investment in Equity Security[150](index=150&type=chunk)[152](index=152&type=chunk) - For the six months ended June 30, 2025, the Investment in Equity Security resulted in a total **gain of $2.4 million**[152](index=152&type=chunk) [Trends and Key Factors Affecting our Operations](index=34&type=section&id=Trends%20and%20Key%20Factors%20Affecting%20our%20Operations) This section discusses market trends, economic conditions, and strategic initiatives that influence the company's operational performance and future outlook - The Company is exposed to market risk primarily through its broker-dealer trading operations, with primary risks related to interest rates and equity prices[157](index=157&type=chunk) - | Simulated Change in Market Interest Rates | Impact on Net Interest Revenue (June 30, 2025) | Impact on Net Interest Revenue (December 31, 2024) | | :---------------------------------------- | :--------------------------------------------- | :--------------------------------------------- | | Increase of 200 basis points | 31% | 32% | | Increase of 100 basis points | 16% | 18% | | Increase of 50 basis points | 8% | 11% | | Decrease of 50 basis points | (7)% | (4)% | | Decrease of 100 basis points | (15)% | (11)% | | Decrease of 200 basis points | (30)% | (26)% | - Investments in Siebert's Retail Platform, including an online platform and mobile trading application, are anticipated to go live by the end of 2025, aiming to meet customer needs and support market expansion[161](index=161&type=chunk) [Client Account and Activity Metrics](index=35&type=section&id=Client%20Account%20and%20Activity%20Metrics) This section provides key metrics related to customer accounts and activity, offering insights into client engagement and business growth - | Metric | June 30, 2025 | December 31, 2024 | | :------------------------------------ | :------------ | :---------------- | | Retail customer net worth (in billions) | $17.4 | $18.0 | | Retail customer margin debit balances (in billions) | $0.4 | $0.4 | | Retail customer credit balances (in billions) | $0.4 | $0.4 | | Retail customer money market fund value (in billions) | $0.8 | $0.8 | | Retail customer accounts | 163,616 | 160,054 | - Retail customer accounts increased to **163,616** as of June 30, 2025, from **160,054** at December 31, 2024[163](index=163&type=chunk) [Statements of Operations for the Three Months Ended June 30, 2025 and 2024](index=36&type=section&id=Statements%20of%20Operations%20for%20the%20Three%20Months%20Ended%20June%2030,%202025%20and%202024) This section provides a detailed comparative analysis of the company's revenues and expenses for the three-month periods, highlighting key changes and their causes - Commissions and fees decreased by **$589,000** to **$2.014 million**, primarily due to weaker market conditions[164](index=164&type=chunk) - Principal transactions and proprietary trading decreased by **$7.345 million** to negative **$3.771 million**, mainly due to a **$6.803 million loss** on the Investment in Equity Security[166](index=166&type=chunk) - Stock borrow / stock loan increased by **$2.826 million** to **$7.522 million**, driven by growth in stock locate services and securities lending[167](index=167&type=chunk) - Employee compensation and benefits increased by **$3.081 million** to **$13.388 million**, due to higher equity compensation and additional personnel for technology and business expansion[169](index=169&type=chunk) - Depreciation and amortization expenses increased by **$293,000** to **$629,000**, primarily due to increased amortization for technology projects placed in service[174](index=174&type=chunk) [Statements of Operations for the Six Months Ended June 30, 2025 and 2024](index=37&type=section&id=Statements%20of%20Operations%20for%20the%20Six%20Months%20Ended%20June%2030,%202025%20and%202024) This section provides a detailed comparative analysis of the company's revenues and expenses for the six-month periods, highlighting key changes and their causes - Commissions and fees decreased by **$787,000** to **$4.116 million**, primarily due to weaker market conditions[178](index=178&type=chunk) - Principal transactions and proprietary trading increased by **$2.110 million** to **$9.190 million**, mainly due to a **$2.430 million gain** on the Investment in Equity Security[179](index=179&type=chunk) - Stock borrow / stock loan increased by **$3.565 million** to **$12.359 million**, driven by growth in stock locate services and securities lending[180](index=180&type=chunk) - Employee compensation and benefits increased by **$4.627 million** to **$25.310 million**, due to higher equity compensation and additional personnel for technology and business expansion[182](index=182&type=chunk) - Depreciation and amortization expenses increased by **$453,000** to **$1.044 million**, primarily due to increased amortization for technology projects placed in service[186](index=186&type=chunk) [Statements of Financial Condition As of June 30, 2025 and December 31, 2024](index=39&type=section&id=Statements%20of%20Financial%20Condition%20As%20of%20June%2030,%202025%20and%20December%2031,%202024) This section analyzes the company's financial position at specific dates, detailing changes in assets, liabilities, and equity - Total Assets increased by **$40.844 million** to **$560.512 million** as of June 30, 2025, primarily due to an increase in securities borrowed, partially offset by a decrease in cash and securities segregated for regulatory purposes[191](index=191&type=chunk) - Total Liabilities increased by **$35.948 million** to **$470.524 million** as of June 30, 2025, primarily due to an increase in securities loaned, partially offset by a decrease in payables to customers[192](index=192&type=chunk) [Liquidity and Capital Resources](index=39&type=section&id=Liquidity%20and%20Capital%20Resources) This section discusses the company's ability to meet its short-term and long-term financial obligations, including cash position and available credit facilities - As of June 30, 2025, the Company's cash and cash equivalents were **$28.9 million**, down from **$32.6 million** at December 31, 2024[197](index=197&type=chunk) - The Company has a **$20 million revolving credit facility** with East West Bank (entered August 15, 2024) and another **$20 million revolving credit facility** with BMO Harris Bank (entered November 22, 2024) to support strategic initiatives and meet regulatory requirements[198](index=198&type=chunk)[199](index=199&type=chunk) - | Material Cash Requirements (as of June 30, 2025) | | :------------------------------------------------ | :----------- | | Operating lease commitments | $2,560,000 | | Kakaopay fee | $2,000,000 | | Mortgage with East West Bank | $4,184,000 | | Technology vendors | $144,000 | | Broadridge contract | $373,000 | | Total | $9,261,000 | [Off-Balance Sheet Arrangements](index=42&type=section&id=Off-Balance%20Sheet%20Arrangements) This section describes the company's off-balance sheet activities and potential exposures, such as customer transaction risks - The Company is exposed to off-balance sheet risk from customer activities involving the execution, settlement, and financing of securities transactions, where customers or brokers may fail to fulfill obligations[215](index=215&type=chunk) - No material losses for unsettled customer transactions occurred for the three and six months ended June 30, 2025 and 2024[215](index=215&type=chunk) [Uncertain Tax Positions](index=42&type=section&id=Uncertain%20Tax%20Positions) This section details the company's uncertain tax positions and their impact on financial statements - The Company recorded an uncertain tax position of **$1.354 million** as of both June 30, 2025, and December 31, 2024, included in 'Taxes payable'[217](index=217&type=chunk) [Tax Legislation](index=42&type=section&id=Tax%20Legislation) This section discusses the potential impact of new tax legislation on the company's financial results - President Trump signed H.R. 1, the One Big Beautiful Bill Act (OBBBA), into law on July 4, 2025; the Company is analyzing its tax impacts but does not expect a material effect on its effective tax rate[218](index=218&type=chunk) [Critical Accounting Policies and Estimates](index=42&type=section&id=Critical%20Accounting%20Policies%20and%20Estimates) This section highlights the accounting policies and estimates that require significant judgment and can materially affect financial reporting - There have been no changes to the Company's critical accounting policies or estimates as of June 30, 2025[218](index=218&type=chunk) [New Accounting Standards](index=42&type=section&id=New%20Accounting%20Standards) This section provides an update on new accounting standards and their expected implications for the company's financial disclosures - ASU 2023-09 (Improvements to Income Tax Disclosures) and ASU 2024-03 (Expense Disaggregation Disclosures) are expected to require significant changes to disclosures when effective in fiscal years 2025 and 2026, respectively[219](index=219&type=chunk)[220](index=220&type=chunk) [Recent Accounting Pronouncements](index=42&type=section&id=Recent%20Accounting%20Pronouncements) This section directs readers to a specific note for further details on recently issued accounting pronouncements - Refer to Note 2 – Summary of Significant Accounting Policies for information regarding new Accounting Standards Updates (ASUs) issued by the FASB[221](index=221&type=chunk) [ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK](index=43&type=section&id=ITEM%203.%20QUANTITATIVE%20AND%20QUALITATIVE%20DISCLOSURES%20ABOUT%20MARKET%20RISK) This section details the company's exposure to market risk from financial instruments, including those held for trading and non-trading purposes. It clarifies that the company does not engage in derivatives or special purpose entities and monitors customer accounts for margin compliance to mitigate risk - The Company does not directly engage in derivative transactions, has no interest in any special purpose entity, and no liabilities for the debt of another entity[222](index=222&type=chunk) - Market risk primarily arises from investments in U.S. government securities held for regulatory purposes and to enhance yields, with any value reduction anticipated to be temporary as securities mature at par[224](index=224&type=chunk) - The Company is exposed to risk of loss on unsettled customer transactions if customers or counterparties fail to fulfill obligations, but no material losses have occurred in the last five years[225](index=225&type=chunk) [ITEM 4. CONTROLS AND PROCEDURES](index=43&type=section&id=ITEM%204.%20CONTROLS%20AND%20PROCEDURES) This section reports on the effectiveness of the company's disclosure controls and procedures and confirms no material changes in internal control over financial reporting during the most recent fiscal quarter [Disclosure Controls and Procedures](index=43&type=section&id=Disclosure%20Controls%20and%20Procedures) This section assesses the effectiveness of the company's controls designed to ensure timely and accurate disclosure of financial information - Management, including the CEO and CFO, concluded that the company's disclosure controls and procedures were effective as of the end of the reporting period[227](index=227&type=chunk) [Changes in Internal Control over Financial Reporting](index=43&type=section&id=Changes%20in%20Internal%20Control%20over%20Financial%20Reporting) This section reports on any changes in the company's internal control over financial reporting during the most recent fiscal quarter - There were no changes in internal control over financial reporting during the most recently completed fiscal quarter that materially affected, or are reasonably likely to materially affect, internal control over financial reporting[228](index=228&type=chunk) PART II - OTHER INFORMATION [ITEM 1. LEGAL PROCEEDINGS](index=44&type=section&id=ITEM%201.%20LEGAL%20PROCEEDINGS) This section addresses the company's involvement in various legal and regulatory proceedings, stating that, based on current information, the ultimate resolution of these matters is not expected to have a material adverse impact on its financial position or results of operations - The Company is subject to various legal and regulatory proceedings in the normal course of business, including lawsuits, arbitration claims, and regulatory matters[230](index=230&type=chunk) - Management believes the ultimate resolution of current matters will not have a material adverse impact on the Company's financial position and results of operations as of June 30, 2025[230](index=230&type=chunk) [ITEM 1A. RISK FACTORS](index=44&type=section&id=ITEM%201A.%20RISK%20FACTORS) This section refers investors to the risk factors discussed in the company's 2024 Form 10-K and confirms that there have been no material changes to these risk factors as of the current report's date, except for an additional noted risk factor - Investors should consider the risk factors discussed in Part I, Item 1A - Risk Factors of the 2024 Form 10-K[231](index=231&type=chunk) - As of the date of this Report, there have been no material changes from the risk factors disclosed in the 2024 Form 10-K, except for an additional risk factor noted[231](index=231&type=chunk) [ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS](index=44&type=section&id=ITEM%202.%20UNREGISTERED%20SALES%20OF%20EQUITY%20SECU`RITIES%20AND%20USE%20OF%20PROCEEDS) This section states that there were no unregistered sales of equity securities or use of proceeds to report for the period - There were no unregistered sales of equity securities and use of proceeds to report[232](index=232&type=chunk) [ITEM 3. DEFAULTS UPON SENIOR SECURITIES](index=44&type=section&id=ITEM%203.%20DEFAULTS%20UPON%20SENIOR%20SECURITIES) This section confirms that there were no defaults upon senior securities during the reporting period - There were no defaults upon senior securities to report[233](index=233&type=chunk) [ITEM 4. MINE SAFETY DISCLOSURES](index=44&type=section&id=ITEM%204.%20MINE%20SAFETY%20DISCLOSURES) This section indicates that mine safety disclosures are not applicable to the company's operations - Mine safety disclosures are not applicable to the Company[234](index=234&type=chunk) [ITEM 5. OTHER INFORMATION](index=44&type=section&id=ITEM%205.%20OTHER%20INFORMATION) This section discloses that several executives and directors entered into Rule 10b5-1 trading plans in May 2025 for the sale of common stock, with some plans subsequently terminated - Andrew H. Reich (EVP, CFO) entered into a Rule 10b5-1 trading plan on May 19, 2025, for the sale of **300,000 shares** of common stock, expiring May 19, 2027[235](index=235&type=chunk) - Francis V. Cuttita (Director) entered a 10b5-1 trading plan on May 19, 2025, for **120,000 shares**, expiring May 19, 2027[236](index=236&type=chunk) - A trust jointly owned by John J. Gebbia (CEO) and Gloria E. Gebbia (Director) entered a 10b5-1 trading plan on May 19, 2025, for **400,000 shares**, which was terminated on June 2, 2025[237](index=237&type=chunk) [ITEM 6. EXHIBITS](index=45&type=section&id=ITEM%206.%20EXHIBITS) This section lists the exhibits filed as part of the Form 10-Q, including the Sales Agreement, certifications from principal officers, and Inline XBRL documents - Exhibit 10.50 is the Sales Agreement dated June 27, 2025, between Siebert Financial Corp., Muriel Siebert & Co., LLC, and Ladenburg Thalmann & Co. Inc[240](index=240&type=chunk) - Exhibits 31.1 and 31.2 are certifications of the Principal Executive Officer and Principal Financial Officer, respectively, pursuant to Exchange Act Rules 13a-14(a) and 15d-14(a)[240](index=240&type=chunk) - Exhibits 32.1 and 32.2 are certifications of the Principal Executive Officer and Principal Financial Officer, respectively, pursuant to 18 U.S.C. Section 1350[240](index=240&type=chunk) [SIGNATURES](index=46&type=section&id=SIGNATURES) This section contains the required signatures of the registrant's principal executive officer and principal financial and accounting officer, certifying the filing of the report - The report is signed by John J. Gebbia, Chief Executive Officer (Principal executive officer), and Andrew H. Reich, Executive Vice President, Chief Operating Officer, Chief Financial Officer, and Secretary (Principal financial and accounting officer)[245](index=245&type=chunk)

Core Message - Siebert Financial Corp. is launching a new campaign called "Generation Wealth" aimed at engaging Gen Z investors through a modern and relatable approach to financial services [1][5]. Campaign Overview - The campaign is designed to reject traditional financial messaging that emphasizes austerity, instead promoting a balanced view of indulgence and financial responsibility [2][4]. - It features a diverse cast of creators and influencers who embody non-traditional paths to wealth, appealing to the aspirations of Gen Z [3][4]. Marketing Strategy - The campaign will utilize various platforms including digital, social media, and out-of-home advertising, with a focus on connecting with Gen Z where they already engage [4][6]. - Siebert Financial is integrating AI tools across its operations to enhance customer engagement and remain relevant in a rapidly changing market [5]. Launch Details - "Generation Wealth" will officially launch in July 2025, starting with influencer content and digital media, followed by out-of-home placements in major U.S. cities [6].

Core Insights - Siebert Financial Corp. has been included in the Russell 2000 Index, effective after the U.S. market closed on June 27, 2025, following the annual reconstitution of the Russell U.S. Indexes [1][3] - The inclusion reflects Siebert's strategic transformation and its focus on technology and financial innovation, including a recent $50 million at-the-market offering to support initiatives in AI, digital assets, and potential acquisitions [2][3] - The company has made a significant investment in FusionIQ to enhance its technology strategy, providing modular digital wealth solutions for advisors and clients [2][3] Company Overview - Siebert Financial Corp. is a diversified financial services company, a member of the NYSE since 1967, and was founded by Muriel Siebert, the first woman to own a seat on the NYSE [4][5] - The company operates through various subsidiaries, offering a full range of brokerage and financial advisory services, including securities brokerage, investment advisory, and insurance offerings [5] Industry Context - Russell indexes are widely utilized by investment managers and institutional investors for index funds and as benchmarks for active investment strategies, with approximately $10.6 trillion in assets benchmarked against the Russell U.S. indexes as of June 2024 [3] - FTSE Russell, the global index provider, calculates thousands of indexes that cover 98% of the investable market globally, with about $18.1 trillion benchmarked to its indexes [6]

Core Insights - Gebbia Media, a subsidiary of Siebert Financial, has launched a new podcast titled "Tactical Wealth: From Military to Money" aimed at empowering the military and veteran community through practical advice and inspiring stories [1][3][5] Group 1: Podcast Overview - The podcast is hosted by Kaj Larsen, a former Navy SEAL, and focuses on veterans who have successfully transitioned to financial success and leadership in civilian life [2][6] - Each episode provides tactical lessons for veterans and service members to build wealth and lead effectively beyond their military careers [2][3] Group 2: Strategic Intent - The launch of "Tactical Wealth" is part of Gebbia Media's broader content strategy, which includes original podcasts and documentaries aimed at creating cultural and financial impact [3][4] - The podcast serves as a resource for veterans and their families, helping them thrive in their post-service lives [4][5] Group 3: Sponsorship and Commitment - The podcast is sponsored by Siebert.Valor, an initiative from Siebert Financial focused on supporting the military community through financial education and career transition resources [5][6] - Siebert Financial emphasizes its commitment to breaking down barriers to financial success for veterans through partnerships like "Tactical Wealth" [6]

Core Insights - Gebbia Media, a subsidiary of Siebert Financial Corp., has launched a Sports Division aimed at providing financial education, wealth management, tax planning, and strategic support for elite and professional athletes [1][3] - The division has already signed several prominent NCAA athletes from top universities, indicating a strong initial roster [2] - The initiative is led by Greg Murphy, who emphasizes the evolving role of athletes as leaders and entrepreneurs, and aims to offer comprehensive support beyond traditional sports agency services [3] Company Overview - Gebbia Media focuses on the development and promotion of music and sports talent, and serves as the in-house production and marketing agency for Siebert Financial Corp. [5] - The company aims to redefine audience engagement by merging compelling content with financial strategies, enhancing financial literacy, and unlocking new monetization opportunities [6] Leadership and Strategy - Greg Murphy, the newly appointed President of the Sports Division, brings experience from Alliance Bernstein and Investco, highlighting the division's commitment to helping athletes navigate their financial journeys [3] - Richard Gebbia, Co-CEO of Muriel Siebert & Co., emphasizes the goal of building lasting value for athletes beyond their sports careers [4] - The division's team consists of experts in athlete representation, contract negotiation, and NIL monetization, with operations across major U.S. cities [4]