Broker Dealers


The broker-dealer industry has become increasingly complex as new rules and regulations are issued to combat illegal activities and regulate rogue brokers. Unfortunately, this affects every broker-dealer, large and small. As a result, broker-dealers have specialized needs which require the right level and caliber of support.Recent legislation now requires non public broker-dealers to use an audit firm registered with the Public Company Accounting Oversight Board (PCAOB) to conduct their audit. PCAOB oversight will help ensure that audits of broker-dealers will be properly performed. WithumSmith+Brown (WS+B) has been registered with the PCAOB since its inception. This is a testament to our commitment to the quality of our services.Having a qualified reputable firm like WS+B can benefit broker-dealers in many ways, including its reputation and standing with customers, regulators, financial institutions and institutional investors.

WS+B’s Financial Services group includes an elite group of broker-dealer specialists who dedicate considerable resources to keep clients ahead of the curve and who are up-to-the-minute on SEC and FINRA rules and regulations. We provide timely and valuable information which enables you to make informed decisions that put you in a position of strength.

Providing the highest quality service requires committing professionals that have the relevant experience and background to properly service broker-dealers. In addition to extensive experience conducting these audits, WS+B’s Financial Services group participates in industry specific continuing education and meets regularly to discuss timely issues affecting the SEC, FINRA, NFA and other regulatory organizations.

Our focus on broker-dealers permits us to conduct both audit and tax procedures efficiently and effectively. Since we audit and provide tax services to many broker-dealers annually, we have the expertise to develop and maintain highly trained staff and advanced methodologies for the benefit of our clients.

A large Mid-Atlantic accounting and consulting firm, WithumSmith+Brown brings clients the benefits of a larger organization without sacrificing the attention and personal service that one expects and deserves. WS+B’s 13 offices ensure easy access to our team and the advice you need to achieve greater growth and financial success.

WithumSmith+Brown offers a full range of accounting, auditing and tax services addressing the specific needs of securities brokers and dealers. Our specialists can provide:

  • Annual audit of the financial statements required by Rule 17a-5
  • Monthly financial statements and calculation of net capital
  • Initial capitalization
  • Organizational and tax structures
  • Regulatory filings
  • Proactive tax planning and compliance
  • Assistance with designing and implementing compliance procedures
  • Assistance with FINRA and SEC examinations and compliance
  • Back office accounting and FOCUS filings
  • Non-attest internal control consulting and remediation services
  • Consultation on financial reporting and operational issues
Brian T. Wallace
Brian T. Wallace
Jay C. Shepulski
Jay C. Shepulski

The information contained herein is not necessarily all inclusive, does not constitute legal or any other advice, and should not be relied upon without first consulting with appropriate qualified professionals.