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