Core Viewpoint - Siebert Financial Corp. has launched a new Capital Markets Group to expand its presence in institutional markets while enhancing retail growth, led by Randy Billhardt, a seasoned executive with over 30 years of experience [1][4]. Company Overview - Siebert Financial Corp. is a diversified financial services company and has been a member of the NYSE since 1967, when Muriel Siebert became the first woman to own a seat on the NYSE [5]. - The company operates through various subsidiaries, providing a full range of brokerage and financial advisory services, including securities brokerage, investment advisory, and insurance offerings [6]. Leadership and Expertise - Randy Billhardt, the new Head of Capital Markets Group, has over 15 years of experience in capital markets and a proven track record in unsecured notes and preferred stock issuance [2]. - Under Billhardt's leadership, the Capital Markets Group aims to leverage Siebert's retail distribution network to deliver innovative financial products and enhance institutional capabilities [3]. Strategic Goals - The launch of the Capital Markets Group aligns with Siebert's commitment to innovation and client success, reflecting a forward-thinking strategy to expand its institutional platform [4]. - The group will focus on enhancing offerings such as IPO underwriting, participation in secondary offerings, and offering baby bonds [4].

Core Viewpoint - Siebert Financial Corp. has launched Siebert.Valor, a Financial Technology initiative aimed at democratizing wealth-building for Active Duty Military, Veterans, Law Enforcement, and First Responders [1][3]. Group 1: Initiative Overview - Siebert.Valor is a continuation of Guild Financial's mission to serve military service members and their families by providing tailored financial education and investment services [3][4]. - The initiative is led by Kaj Larsen, co-founder of Guild Financial, who brings expertise from both military and financial sectors [2][4]. Group 2: Strategic Goals - Siebert.Valor aims to enhance financial literacy and opportunity for underserved communities, aligning with the legacy of Muriel Siebert, the first woman to own a seat on the NYSE [3][5]. - The platform will integrate Siebert's financial expertise with Guild's innovative and community-focused approach to investing and education [4][5]. Group 3: Community Engagement - Siebert.Valor pre-launched by sponsoring events during Fleet Week in Miami, including financial literacy talks and community activities [5]. - The initiative embodies values of service, integrity, and commitment, focusing on empowering those who have served the country [6]. Group 4: Company Background - Guild Financial was founded on Veterans Day 2021, focusing on the financial needs of the military community [7]. - Siebert Financial Corp. has been a diversified financial services company since 1967, providing a full range of brokerage and financial advisory services [8][9].

Core Perspective - Siebert Financial Corp. has launched Siebert.Valor, a Financial Technology initiative aimed at democratizing wealth-building for Active Duty Military, Veterans, Law Enforcement, and First Responders [1][4] Group 1: Initiative Overview - Siebert.Valor is a result of Siebert's acquisition of Guild Financial, which focuses on providing financial education and investment services to the military community [2][3] - Kaj Larsen, co-founder of Guild Financial, will lead the Siebert.Valor initiative, leveraging his expertise in both military and financial sectors [2][4] Group 2: Mission and Values - The initiative aims to honor and serve military service members, veterans, and their families by providing tailored financial education and investment services [3][4] - Siebert.Valor seeks to extend financial literacy and opportunity across underserved communities, aligning with the legacy of Muriel Siebert, the first woman to own a seat on the New York Stock Exchange [3][6] Group 3: Community Engagement - Siebert.Valor pre-launched by sponsoring events during Fleet Week in Miami, including financial literacy talks and community activities [6] - The initiative embodies values of service, integrity, and commitment, aiming to make the American Dream accessible to clients [4][6] Group 4: Future Directions - In addition to leading Siebert.Valor, Kaj Larsen will also play a significant role in Gebbia Entertainment, focusing on content production for financial education [7] - Gebbia Entertainment will support Siebert Financial with entertainment investments across various projects [7]

Financial Performance - Total revenue for the three months ended September 30, 2024, was $22,560,000, an increase of 25.7% compared to $18,050,000 for the same period in 2023[12]. - Commissions and fees revenue reached $2,270,000, up 19.3% from $1,903,000 year-over-year[12]. - Net income available to common stockholders for the nine months ended September 30, 2024, was $11,554,000, representing a 33.5% increase from $8,660,000 in the prior year[12]. - Operating income for the three months ended September 30, 2024, was $4,839,000, compared to $4,273,000 for the same period in 2023, reflecting a growth of 13.2%[12]. - Basic and diluted net income per share for the three months ended September 30, 2024, was $0.10, compared to $0.07 in the prior year, reflecting a growth of 42.9%[12]. - Net income for the nine months ended September 30, 2024, was $11,568,000, compared to $8,700,000 for the same period in 2023, representing a 33.5% increase[17]. Expenses and Liabilities - Total expenses for the three months ended September 30, 2024, were $17,721,000, an increase of 28.7% compared to $13,777,000 in the same period last year[12]. - Employee compensation and benefits expenses rose to $11,886,000, a 36.8% increase from $8,723,000 in the previous year[12]. - Interest, marketing, and distribution fees increased to $8,350,000, up 16.1% from $7,194,000 year-over-year[12]. - Total liabilities and equity amounted to $579,156,000, down from $801,800,000, indicating a decrease of 27.7%[10]. - The company’s total liabilities decreased from $11,000,000 as of June 30, 2024, to $10,000,000 as of September 30, 2024, reflecting a reduction of approximately 9.1%[16]. Assets and Equity - Total stockholders' equity increased to $83,323,000 from $70,709,000, marking a growth of 17.8%[10]. - Total assets as of September 30, 2024, were $83,323,000, up from $71,318,000 as of June 30, 2023, reflecting a growth of approximately 16.8%[16]. - The company’s total equity as of September 30, 2024, was $83,323,000, an increase from $79,178,000 as of June 30, 2024, indicating a growth of approximately 5.4%[16]. Cash Flow and Investments - Cash flows from operating activities showed a net cash used of $53,110,000 for the nine months ended September 30, 2024, compared to $68,961,000 for the same period in 2023, indicating an improvement[17]. - The balance of cash and cash equivalents at the end of the period was $221,864,000, down from $242,310,000 at the end of the previous year, a decrease of about 8.4%[18]. - The company incurred a net cash used in investing activities of $5,014,000 for the nine months ended September 30, 2024, compared to $1,627,000 for the same period in 2023[17]. Acquisitions and Investments - The Company acquired GE for a purchase price of $1,250,000, with identifiable intangible assets valued at $778,000 and goodwill of $330,000 as of the acquisition date[40][42]. - The Company completed the acquisition of 100% of Gebbia Entertainment, LLC, a music and entertainment company, on August 12, 2024[130]. Regulatory and Compliance - The company does not engage in derivative transactions and has no liabilities for the debt of another entity[207]. - Cash and securities segregated for regulatory purposes are invested in dollar-denominated bank accounts and U.S. government securities, which may be subject to material changes in value due to interest rate movements[209]. - Disclosure controls and procedures were deemed ineffective due to material weaknesses in internal control over financial reporting[211]. - Management is implementing measures to remediate identified material weaknesses, expecting completion by December 31, 2024[212]. Other Financial Metrics - The effective tax rate for the three months ended September 30, 2024 was 21%, compared to 35% for the same period in 2023[90][91]. - The company reported a realized and unrealized gain on primarily riskless principal transactions of $3,865,000 for the three months ended September 30, 2024, an increase of $1,208,000 from the previous year[86]. - The company had an available line of credit for short-term overnight borrowing of up to $25 million, with no outstanding loan balance as of September 30, 2024[108].

Financial Performance - Total revenue for the three months ended June 30, 2024, was $20,863,000, an increase of 18.9% compared to $17,592,000 for the same period in 2023[12] - Net income for the three months ended June 30, 2024, was $4,047,000, representing a 48.4% increase from $2,728,000 in the same period last year[12] - Operating income for the six months ended June 30, 2024, was $10,681,000, up 19.0% from $8,972,000 for the same period in 2023[12] - Net income for the second quarter of 2024 was $7,734,000, an increase from $5,943,000 in the same period of 2023, representing a growth of approximately 30%[17] - Basic and diluted net income available to common stockholders per share was $0.10 for the three months ended June 30, 2024, compared to $0.07 for the same period in 2023[12] Expenses and Liabilities - The company reported total expenses of $15,284,000 for the three months ended June 30, 2024, compared to $12,933,000 for the same period in 2023, reflecting a 17.9% increase[12] - Employee compensation and benefits for the three months ended June 30, 2024, were $10,307,000, a 27.6% increase from $8,080,000 in the same period last year[12] - Total liabilities and equity amounted to $609,110,000 as of June 30, 2024, down from $801,800,000 in the previous year[11] Equity and Retained Earnings - Total stockholders' equity increased to $70,303,000 as of June 30, 2023, compared to $52,145,000 at the end of March 31, 2023[14] - The company’s retained earnings increased to $24,881,000 as of June 30, 2023, from $22,178,000 at the end of March 31, 2023[14] - The balance of equity increased to $79,178,000 as of June 30, 2024, up from $74,831,000 at the end of March 2024, showing an increase of approximately 6%[15] Cash Flow and Investments - Total cash and cash equivalents at the end of the period were $219,835,000, down from $262,203,000 at the end of June 2023, indicating a decrease of about 16%[17] - Operating activities resulted in a net cash used of $57,322,000 for the second quarter of 2024, compared to $49,561,000 in the same quarter of 2023, reflecting an increase in cash outflow of approximately 15%[17] - The company incurred a net cash used in investing activities of $35,000 for the second quarter of 2024, compared to $1,154,000 in the same period of 2023[17] Tax and Regulatory Matters - The effective tax rate for the three months ended June 30, 2024 was 27.5%, compared to 26.2% for the same period in 2023[73] - The company recorded an income tax provision of $1,532,000 on pre-tax book income of $5,579,000 for the three months ended June 30, 2024[73] - The Company is evaluating the impact of ASU 2023-09, which is expected to bring considerable changes to its income tax footnote, effective for annual periods beginning after December 15, 2024[32] Operational Developments - The company has a single operating segment focused on securities brokerage and asset management, with all revenues derived from U.S. operations[23] - The Company entered into a Stock Purchase Agreement with Kakaopay, issuing 8,075,607 shares at a price of $2.15 per share, representing 19.9% of the outstanding equity securities on a fully diluted basis[36] - The Company incurred costs of approximately $1.8 million for technology vendors related to its Retail Platform development projects as of June 30, 2024[85] Future Outlook - The company anticipates continued growth in revenue and net income, driven by strategic initiatives and market expansion efforts[8] - Future annual minimum payments for operating leases total $2,545,000 as of June 30, 2024[59] - The Company expects considerable changes to its income tax footnote due to ASU 2023-09, effective for annual periods beginning after December 15, 2024[155] Internal Controls and Compliance - Management is implementing measures to remediate previously identified material weaknesses in internal control over financial reporting, expected to be completed prior to the end of 2024[159] - Disclosure controls and procedures were deemed ineffective due to material weaknesses in internal control over financial reporting[158] - The Company has evaluated subsequent events and found no material events requiring disclosure after June 30, 2024[103]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to _____________ Commission file number 0-5703 Siebert Financial Corp. (Exact Name of Registrant as Specified in its Charter) New York 11-1796714 (S ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended: December 31, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 0-5703 Siebert Financial Corp. (Exact name of registrant as specified in its charter) New York 11-1796714 (State or other jurisdiction of i ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 ("Exchange Act") during the preceding 12 months (or for such shorter period that the registrant was required to file such ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________________ to ___________________ Commission file number 0-5703 Siebert Financial Corp. New York 11-1796714 (I.R.S. Employer Identification No.) 535 Fif ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q Siebert Financial Corp. (Exact Name of Registrant as Specified in its Charter) (State or Other Jurisdiction of Incorporation or Organization) New York 11-1796714 ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ ...