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 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]

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].

Financial Performance - Total revenue for Q1 2024 was $20,456,000, an increase of 26.5% compared to $16,170,000 in Q1 2023[19] - Net income available to common stockholders for Q1 2024 was $3,688,000, up from $3,196,000 in Q1 2023, representing a 15.4% increase[19] - Commissions and fees increased to $2,300,000 in Q1 2024, a rise of 24.5% from $1,847,000 in Q1 2023[19] - Interest, marketing, and distribution fees rose to $8,763,000, up 25.6% from $6,973,000 in the same period last year[19] - Net income for the three months ended March 31, 2024, was $3,687,000, an increase of 14.7% compared to $3,215,000 for the same period in 2023[22] - The company reported a basic and diluted net income per share of $0.09 for Q1 2024, compared to $0.10 in Q1 2023[19] - Retail customer net worth increased to $16.6 billion as of March 31, 2024, up from $15.9 billion at the end of 2023, representing a growth of approximately 4.4%[140] Assets and Liabilities - Total current assets decreased to $713,022,000 as of March 31, 2024, down from $773,850,000 at the end of 2023, a decline of 7.8%[18] - Total liabilities decreased to $667,472,000 as of March 31, 2024, compared to $731,091,000 at the end of 2023, a reduction of 8.7%[18] - Stockholders' equity increased to $73,843,000 as of March 31, 2024, up from $69,720,000 at the end of 2023, an increase of 5.1%[18] - Total assets as of March 31, 2024, were $742.303 million, a decrease of $59.497 million or 7.4% from December 31, 2023, primarily due to reduced cash and regulatory securities[159] - Liabilities decreased to $667.472 million as of March 31, 2024, down by $63.619 million or 8.7% from the end of 2023, mainly due to lower payables to customers[160] Cash Flow and Investments - Net cash used in operating activities was $62,041,000 for Q1 2024, compared to $39,014,000 in Q1 2023, indicating a significant increase in cash outflow[22] - Cash and cash equivalents at the end of the period were $2,856,000, down from $3,927,000 a year earlier, reflecting a decrease of 27.3%[22] - Total cash and cash equivalents, and cash and securities segregated for regulatory purposes decreased to $221,029,000 from $259,544,000, a decline of 14.8%[22] - The company reported a net cash used in investing activities of $1,761,000 for Q1 2024, compared to $1,017,000 in Q1 2023, showing an increase in investment expenditures[22] - Cash used in operating activities increased by $23.0 million for the three months ended March 31, 2024, primarily due to changes in receivables and securities transactions[174] - Cash used in investing activities rose by $0.7 million compared to the prior year, driven by the New York office build-out and Retail Platform development[175] Employee Compensation and Benefits - Employee compensation and benefits for Q1 2024 were $10,376,000, a significant increase of 48.5% compared to $6,967,000 in Q1 2023[19] - The Company recognized $394,000 in expenses for employee health claims for the three months ended March 31, 2024, compared to $180,000 for the same period in 2023[107] - The Company granted 50,000 restricted stock units at a price of $1.70, recognizing an equity stock compensation expense of $85,000 for the three months ended March 31, 2024[111] - The Company incurred $135,000 in expenses for 401(k) employee contribution matching for the three months ended March 31, 2024, compared to $0 for the same period in 2023[109] Regulatory and Compliance - The company expects considerable changes to its income tax footnote due to the new accounting standard ASU 2023-09, effective for annual periods beginning after December 15, 2024[42] - The company recorded an uncertain tax position of $1,405,000 related to various tax matters as of March 31, 2024[182] - The Company has suspended the use of its registration statement on Form S-3 due to late filing of its 2023 Form 10-K[126] - The Company is in the process of selecting a new independent registered public accounting firm following the resignation of Baker Tilly US, LLP[127] - Management is implementing measures to remediate material weaknesses in internal controls, expected to be completed by the end of 2024[191] Financing Activities - Draws on bank loans totaled $4,800,000 in Q1 2024, with repayments of long-term debt at $21,000, reflecting a net cash inflow from financing activities of $4,779,000[22] - The net capital infusion from Kakaopay was approximately $14.8 million after issuance costs, enhancing the company's regulatory capital[162] - The Company had an outstanding loan balance of $4.8 million as of March 31, 2024, under a line of credit with BMO Harris Bank[103] - Operating lease commitments total $3,187,000, with significant payments due in 2024 ($669,000) and 2025 ($861,000)[166] - Kakaopay fee obligations amount to $4,500,000, with a $5 million payment scheduled in ten quarterly installments starting March 29, 2024[166] Technology and Development - The Company incurred approximately $1.8 million out of a total budget of $3.3 million for technology vendor development projects related to its Retail Platform as of March 31, 2024[106] - The company has incurred approximately $664,000 of the estimated $800,000 build-out costs for the New York office as of March 31, 2024[168] - The company invested $58,000 in the Miami office building during the three months ended March 31, 2024, compared to $565,000 for the same period in 2023[66] - The company recorded a total rent and occupancy cost of $497,000 for the three months ended March 31, 2024, compared to $478,000 in 2023[73] Securities Transactions - Securities borrowed amounted to $383,670,000 as of March 31, 2024, while securities loaned were $389,474,000, indicating significant activity in securities transactions[40] - Total payables to broker-dealers and clearing organizations increased to $2,003,000 as of March 31, 2024, from $481,000 as of December 31, 2023[49] - Stock borrow/stock loan revenue for the three months ended March 31, 2024, was $4,098,000, compared to $3,442,000 in 2023[86] - Principal transactions and proprietary trading increased to $3.506 million in Q1 2024, a rise of $706,000 or 20.1% from Q1 2023, attributed to improved market conditions[143]

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 ...

Financial Performance - Commissions and fees for Q3 2023 were $1,986,000, an increase of $236,000 compared to Q3 2022, primarily due to market conditions [161]. - Interest, marketing, and distribution fees for Q3 2023 were $7,194,000, up by $1,990,000 from the same period last year, driven by rising interest rates [162]. - Principal transactions and proprietary trading for Q3 2023 totaled $3,753,000, an increase of $2,800,000 from Q3 2022 [163]. - Employee compensation and benefits for Q3 2023 were $8,723,000, an increase of $1,433,000 from the prior year, mainly due to higher commission payouts [170]. - Commissions and fees for the nine months ended September 30, 2023 were $5,839,000, a decrease of $104,000 (2%) from the prior year [178]. - Interest, marketing, and distribution fees for the nine months ended September 30, 2023 were $21,583,000, an increase of $10,866,000 (101%) from the prior year [179]. - Principal transactions and proprietary trading for the nine months ended September 30, 2023 were $9,207,000, an increase of $7,440,000 (404%) from the prior year [180]. - The provision for income taxes for the nine months ended September 30, 2023 was $3,621,000, an increase of $4,457,000 from the prior year [193]. Customer Metrics - Retail customer net worth increased to $14.6 billion as of September 30, 2023, up from $13.5 billion at the end of 2022 [158]. - Retail customer accounts grew to 128,727 as of September 30, 2023, compared to 122,394 at the end of 2022 [158]. Assets and Liabilities - Total assets as of September 30, 2023 were $771,146,000, an increase of $43,098,000 (6%) from December 31, 2022 [196]. - Total liabilities as of September 30, 2023 were $699,581,000, an increase of $21,453,000 (3%) from December 31, 2022 [197]. - Cash and cash equivalents decreased to $4.9 million as of September 30, 2023, down from $23.7 million as of December 31, 2022 [201]. Capital and Funding - The net capital infusion from Kakaopay to Siebert from the First Tranche was approximately $15.4 million, enhancing regulatory capital [199]. - The company maintains capital and segregated cash reserves in excess of regulatory requirements, ensuring compliance with SEC rules [207]. - The company has adequate reserves and contingency funding plans to meet regulatory requirements, with sufficient net capital reported for both MSCO and RISE [208]. Expenses - Rent and occupancy expenses for Q3 2023 were $467,000, a decrease of $95,000 from the prior year due to the termination of certain short-term leases [172]. - Professional fees for the three months ended September 30, 2023 were $979,000, an increase of $105,000 (12%) from the prior year [173]. - Interest expense for the three months ended September 30, 2023 was $40,000, a decrease of $68,000 (63%) from the prior year [174]. Cash Flow - For the nine months ended September 30, 2023, the company reported negative operating cash flow primarily due to changes in receivables and payables, as well as securities borrowed and loaned [210]. - The company had investing cash outflows related to the build-out of the Miami office building and technology initiatives for both the nine months ended September 30, 2023 and 2022 [210][211]. Tax Matters - As of September 30, 2023, the company recorded an uncertain tax position of $1,596,000 related to various tax matters, included in "Taxes payable" on the financial statements [217]. Regulatory Compliance - Customer transactions are cleared through brokers on a fully disclosed basis, with regular monitoring for compliance with margin requirements [224]. - The company does not engage in derivative transactions and has no liabilities for the debt of another entity [221]. - There were no material losses for unsettled customer transactions for the three and nine months ended September 30, 2023 and 2022 [214]. Agreements and Contracts - MSCO entered into a five-year service agreement with Broadridge Securities Processing Solutions, with a total minimum expense estimated at approximately $1.3 million [213]. - The company entered into a Capital on Demand Sales Agreement with JonesTrading for an aggregate offering amount of up to $9.6 million, but did not sell any shares under this agreement for the three and nine months ended September 30, 2023 and 2022 [206]. Shareholder Information - Siebert's largest stockholders, the Gebbia Stockholders, control approximately 43% of the outstanding equity securities prior to the closing of the Second Tranche [149].

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 ________ ...

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, 2022 ☐ 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 ...

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, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 For the transition period from ____________________ to ____________________ Commission file number 0-5703 Siebert Financial Corp. (Exact Name of Registrant as Specified in its Charter) (S ...