Outsourcing FINOP Services allows firms to focus on their core business, and ensures accuracy and compliance in the financial department. Brokerage Consulting Group offers a variety of financial services packages designed to help firms comply with SEC and FINRA financial responsibility rules and requirements. Our packages are flexible and can be tailored to meet your firm's specific needs. We can do as little or as much as your firm requires.
A Brokerage Consulting Group professional can register with your firm as the Financial and Operations Principal and perform all FINOP responsibilities, or assist and review your FINOP's daily and monthly work. We routinely help new firms establish a strong general ledger chart of accounts that serves as the backbone for regulatory reporting requirements. Our services range from short-term assistance, such as a temporary FINOP, to long-term relationships in which we work with firms on an ongoing basis.
Following is a sample of the services Brokerage Consulting Group provides:
Monthly review of financial statements
Monthly calculation of net capital
Monthly and/or quarterly FOCUS filing
Periodic review of record keeping procedures
Assistance in communicating with FINRA and SEC examiners
Assistance in preparing for FINRA examinations
Annual review of Fidelity Bond requirements
In addition, we provide continuous telephone support and are available to answer questions and solve problems as needed. Contact Brokerage Consulting Group to discuss your firm's current situation and learn more about our FINOP services.
Books & Records Review
SEC rules stipulate minimum books and records requirements, including the length of time information must be maintained. If your firm is unsure of its compliance with Rule 17a-3 and Rule 17a-4 under the Securities Exchange Act of 1934 (the "Books and Records Rules"), or is preparing for an upcoming FINRA or SEC examination, Brokerage Consulting Group can review the books and records for accuracy and compliance. Our consultants will visit your office(s) and assess current record keeping practices and supervisory systems. Some documents routinely reviewed include:
Order tickets
Blotters
Exception reports
Customer account records
Customer complaint records
Communication with the public records
Associated persons records
Corporate documents
After our evaluation is complete, we will provide a written report of findings, as well as suggestions for changes. Contact us today to schedule your evaluation.
Accounting/Bookkeeping
Brokerage Consulting Group provides bookkeeping and accounting assistance to new Broker/Dealers as well as established firms. Our experienced consultants offer a variety of services that help firms maintain proper financial books and records. Some of our services include:
Familiarize firms with the fundamentals of brokerage accounting to ensure accurate financial record keeping
Help establish a chart of accounts
Review financial reports to determine whether they meet FINRA and SEC financial reporting requirements
Review clearing firm reports to ensure transactions are recorded correctly on the firm's books and records
Review daily transactions and determine whether they are being recorded properly
