Broker Dealers
New and complex rules and regulations, introduced to the independent broker-dealer industry after abuses and industry scandals were recently brought to light, have made this a challenging environment in which to operated. As compliance needs have increased, consumer confidence and commission fees have decreased. Now, more than ever, the specialized and trusted services of RotenbergMeril are needed to achieve financial success.
With a former NASD-licensed Financial Operations Principal (Series 27) on our leadership team, RotenbergMeril is uniquely qualified to help broker dealers comply with regulatory filing requirements. Our professionals are knowledgeable in the accounting, tax and regulatory issues specific to this industry.
We provide various services to our broker-dealer clients including being their independent auditor or providing outsourced accounting department services and filing their FOCUS reports. The timely filing of FOCUS reports is one of the regulatory requirements that is contingent upon the broker dealer’s ability to complete the monthly reporting process in a timely and accurate manner. RotenbergMeril has advised clients on how to design a financial reporting package that enables management to timely compile the required financial data and to better understand the margins and productivity of their operating units. In this industry sector, we also specialize in creative approaches to structuring tax-advantaged compensation programs for commission-based employees.
“RotenbergMeril came to our rescue when our 60 person broker dealer firm located in the WTC lost all of its accounting records on 9/11. Thankfully, we had no loss of personnel. Our next concern was to get back operating as soon as possible. Within weeks after the disaster, RotenbergMeril was able to re-create our records and we were actually able to file a timely FOCUS report. I highly recommend this take-charge firm!”
-CEO, Broker Dealer client