Quadrant Financial Group LLC has an experienced staff of Series 27 and 28 professionals and accountants who can serve as the Financial and Operations Principal (FINOP), Principal Financial Officer (PFO), and/or Principal Operations Officer (POO) on behalf of your broker-dealer, or act as the Chief Financial Officer of your Registered Investment Adviser. Alternatively, your firm can remain in charge of the financial and accounting department, and we can assist your internal employees with full accounting, record keeping, and regulatory matters.
Broker-Dealers
Securities rules require each broker-dealer to employ and designate a qualified FINOP, PFO, and POO that is responsible for supervising the firm’s financial books and records and ensuring compliance with net capital requirements. Outsourcing some or all these roles can be a cost-effective way to fulfill these roles if your firm has limited head count, and Quadrant has years of experience providing these services.
Regulatory Filings
On a monthly basis we will compute net capital and submit your firm’s FOCUS Report by the 17th business day of the month or quarter following the period depending on your firm’s net capital requirements. In addition, as your FINOP, we will respond to all regulatory inquiries concerning the filing. We will file all reports required by regulators including:
- FOCUS – Monthly or quarterly
- SSOI
- Form Custody
- SIPC
Financial Records
Accurate financial records are required by financial regulators. We can prepare all your firm’s financial records including the general ledger, trial balance, balance sheet, and income statement. We review your assets, liabilities, revenue, expenses and expense sharing arrangements, financial commitments and speak with appropriate personnel to ensure your financial records are current. We also schedule periodic meetings with senior management to discuss your firm’s financial records.
Assist with Annual Audit
Broker-dealers are required to have their financial records audited by an independent accounting firm. We communicate directly with your annual financial auditor and provide them with all requested items. In addition, as necessary, we will prepare the financial notes. We ensure your financial audit goes as smoothly as possible.
Registered Investment Advisers
Although registered investment advisers are typically not subject to capital requirements, the SEC and state regulators require accurate financial records. Our staff can act as your CFO or support your CFO to maintain your firm’s financial records. We can prepare the general ledger, trial balance, balance sheet, and income statement.
Our Financial Services include the following:
- Register a Series 27 or 28 as your Financial and Operations Principal
- File monthly or quarterly FOCUS reports
- Compute net capital
- File SSOI
- File Form Custody
- File annual audit
- File SIPC Reports
- Prepare the general ledger, trial balance, statement of income, and balance sheet
- Reconcile bank and clearing firm statements
- Review expense sharing agreements
- Communicate with the annual auditor
- Liaison with FINRA Staff
- Schedule periodic meetings with senior management