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Siebert Financial Corp. (SIEB-1.65%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing includes financial statements showing net revenues of $83.9 million, an increase from $71.5 million in the previous year. Net income for the year was $13.3 million, up from $7.8 million in 2023.
Retail customer net worth increased by 13% to $18.0 billion compared to 2023. Revenue from stock borrow/stock loan activities rose by 19% to $19.2 million.
The company reported a 32% increase in revenue related to commissions and fees, amounting to $9.6 million.
Siebert Financial Corp. operates through its subsidiaries, providing brokerage, investment advisory, insurance, and technology development services.
The company has expanded its services by establishing an Investment Banking and Capital Markets division in early 2025.
Siebert Financial Corp. continues to focus on enhancing its technology infrastructure, including the development of a new retail platform.
The company maintains its headquarters in Miami Beach, FL, with additional operations in New York, Florida, and California.
Siebert Financial Corp. is subject to various regulatory requirements, including net capital rules and customer protection regulations.
The company acknowledges the competitive landscape in the brokerage industry and highlights its commitment to customer service and technological advancements.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Siebert Financial Corp. annual 10-K report dated March 31, 2025. To report an error, please email earnings@qz.com.