Maven Strategic will act as your brokerage firm’s FINOP on an outsourced basis. We believe our efficient methodologies will save you money by avoiding the need to hire senior level in-house accountants. We can provide as much or as little as you need. If you have qualified personnel maintaining your books and records on a daily basis, we will utilize that data to prepare your FOCUS reports. If we need to expand our scope, we can provide you with financial statement preparation, and even oversee your bookkeeper in his or her day-to-day functions. Regardless of scope, our goal is to make available to you an invaluable resource.
While no two clients are alike, the following is an outline of our typical FINOP engagement (fees are based on budgeted time and scope of services):
- First, (in most cases) we will register with FINRA as your firm’s Series 27 FINOP. This will allow us to interface with regulatory personnel on the company’s regulatory financial compliance matters.
- Next, we identify the appropriate firm personnel that we will need to regularly interface with (including, but not limited to individuals from accounting, compliance, and senior management).
- We then determine the means by which we will access your financial data. We will then do a comprehensive review of your current financial information, and any recently filed regulatory reports. Once a comfort level is reached, we will have our basis for preparing prospective reports.
- Based on your firm’s requirements, we will calculate regulatory net capital, and prepare your periodic regulatory reports including FOCUS, SSOI, SIS, and Form Custody. Upon your review and approval, we will electronically file your reports with the necessary regulatory agencies and 3rd parties.
- Our services are customized to fit your needs. We can address any and all aspects of your firm’s accounting cycle and processes. This includes everything from posting journal entries and reconciling your bank accounts, to calculating broker commissions and processing your payroll.
We believe our services are invaluable. Maintaining a good set of books and records is recommended. Ensuring that you are in regulatory compliance is essential. Contact us today to get started. #whosyourFINOP