Spicer Jeffries LLP currently provides services to over 60 broker-dealers while having served over 300 broker-dealers in the firm’s history.  These entities include self-clearing organizations as well as those with fully-disclosed clearing arrangements.  Our clients range in operational size from minimal support staff to full service carrying broker-dealers with numerous branch offices and over hundreds of registered representatives.  The broker-dealer’s regulatory landscape that must be navigated can often prove challenging.  Our firms dedication to the securities industry and current broker-dealer rules and regulations allow us to not only service our clients, but keep them prepared for challenges they may face in the future.

Spicer Jeffries LLP is approved by the Public Company Accounting Oversight Board (PCAOB) to conduct audits of securities broker-dealers.

We provide audit, accounting, tax, consulting and regulatory services to our broker-dealer clients.  Because of our extensive experience and trained staff, we are able to conduct our engagements very efficiently and cost effectively.  Additionally, this experience also allows us to provide tax preparation and advice, various consulting services and regulatory advice unique to your business.

One of the more significant products of the audit process is the issuance, when appropriate, of a management letter at the conclusion of the audit.  While, in general, auditors’ management letters tend to focus on recommendations for improving internal controls, our letters also included brokerage issues such as the following:

• Conversion of non-allowable assets to allowable assets
• Recommendations on the proper analysis of tax accounts to identify deferred taxes to increase net capital
• Overall suggestions to reduce net capital charges
• Methods to improve reserve computation allocations to reduce reserve deposits
• Identification of causes of violations of possession and control regulations
• Recommendations to separate certain activities from broker-dealer activities to relieve regulatory burdens