Siebert Financial Announces Fourth Quarter and Full Year 2021 Financial Results – Form 8-K

Siebert Announces Fourth Quarter and Fiscal Year 2021 Financial Results

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Revenue growth of 23% for the full year 2021

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Operating income growth of 111% for the year 2021

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Equity growth of 30% for the full year 2021

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MSCO net capital growth of 32% for the full year 2021

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Strategic Investments in Tigress and Hedge Connection Reinforce Siebert’s Commitment to Driving Client Success While Helping Close the Wealth Gap Through Inclusive Investing

NEW YORK, NY – March 30, 2022 – Siebert Financial Corp. (NASDAQ: SIEB) (“Siebert”)a mission-driven financial services provider, today announced its financial results for the full fiscal year ended December 31, 2021.

2021 Financial Highlights

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Revenue of $67.5 million, up 23% from the prior year period

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Operating profit of $6.8 million, up 111% over the same period of the previous year

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Operating margin of 10.0%, an improvement compared to 5.8% in the same period of the previous year

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Net income of $5.0 million, up 69% over the same period last year

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Earnings per share of $0.16 increased 60% from $0.10 in the prior year period

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Total assets under management of $17.3 billion, an increase from $16.2 billion at the end of 2020

Recent Business Highlights

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Completing the previously announced strategic investment in Tigress Financial Partners and launching RISE Financial Services, a diversified woman-owned financial services company, extending Siebert’s more than 50-year history of diversity, equity and of inclusion that began with the legendary Muriel Siebert. RISE Prime, a division of RISE Financial Services, specializes in offering a full range of best-in-class brokerage services aligned with the growing environmental, social and governance (ESG) initiatives of institutional investors .

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Made a minority investment in Hedge Connection, the only female-owned FinTech company offering an intro capital solution platform for hedge funds. Hedge Connection democratizes the process of raising capital so that all managers, including talented emerging managers from minorities and women, can access institutional investors and break down barriers that impede growth.

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Purchase of an office building in Miami, Florida to serve as Siebert’s headquarters. Miami continues to grow as a major hub for financial companies, and the purchase of the building strengthens Siebert’s presence in the Greater Miami area following the opening of Siebert’s Miami office in 2019.

Management commentary

“Our financial results for 2021 reflect the continued execution of our strategic objectives, which have established a solid foundation for Siebert in 2022,” said Gloria E. Gebbia, majority shareholder and member of Siebert’s board of directors. “Siebert is a

mission-driven financial services company, and we continue to modernize our offerings to enable our clients’ success while helping to close the wealth gap through inclusive investing. The recent rebranding of RISE along with our minority investment in Hedge Connection further solidifies our commitment and positions Siebert as a strategic partner for institutional clients where diversity and access to top-tier brokerage services are important. »

Andrew Reich, Siebert’s Chief Financial Officer, commented: “Our strong revenue performance in 2021 was driven by our Securities Finance and Market Making divisions, which contributed to the 23% revenue growth we achieved. in 2021 as well as the improvement in profitability. To ensure that the divisions have achieved nearly 200% year-over-year revenue growth and continue to be key areas to deliver on future growth initiatives. Additionally, revenue from our investment advisory subsidiary NXT has increased by more than 46% and we continue to seek opportunities to expand our offerings. We continue to focus on identifying opportunities to further drive revenue growth and improve profitability while continuing to support the objectives of our strategic partners and customers.

Notice to Investors

This communication is provided for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States or elsewhere.

About Siebert Financial Corp.

Siebert is a diversified financial services company that has been in business and a member of the NYSE since 1967 when Muriel Siebert became the first woman to hold a seat on the NYSE and the first to lead one of its member firms.

Siebert operates through its subsidiaries Muriel Siebert & Co., Inc., Siebert AdvisorNXT, Inc., Park Wilshire Companies, Inc., Rise Financial Services, LLC, Siebert Technologies, LLC and StockCross Digital Solutions, Ltd. Through these entities, Siebert provides a full range of brokerage and financial advisory services, including securities brokerage, investment advice and insurance offerings, prime brokerage, capital introduction and corporate stock plan administration solutions. For more than 50 years, Siebert has been a mission-driven company that values ​​its customers, shareholders and employees. More information is available at www.siebert.com.

Caution Regarding Forward-Looking Statements

Statements contained in this press release, which are not historical facts, including statements regarding our beliefs and expectations, are “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995. Statements forward-looking statements include statements preceded by, followed by, or that include the words “may”, “could”, “should”, “should”, “believe”, “expect”, “anticipate”, “plan”, ” estimates”, “target”, “project”, “intend” and other similar words or expressions. In addition, any statements referring to expectations, projections or other characterizations of future events or circumstances are forward-looking statements.

These forward-looking statements, which reflect the beliefs, objectives and expectations of our management as of the date hereof, are based on our management’s best judgment. All forward-looking statements speak only as of the date they are made. These forward-looking statements are subject to certain risks, uncertainties and assumptions relating to factors that could cause actual results to differ materially from those anticipated in such statements, including, without limitation, the following: economic conditions , social and political, global economic downturns resulting from extraordinary events such as the COVID-19 pandemic and other securities industry risks; interest rate risks; liquidity risks; credit risk with customers and counterparties; risk of liability in the event of errors in the netting functions; Systemic risk; system failures, delays and capacity constraints; network security risks; competetion; reliance on external service providers; new laws and regulations affecting our business; net capital requirements; extensive regulation, regulatory uncertainties and legal issues; inability to maintain relationships with employees, customers, business partners or government entities; the inability to realize synergies or implement integration plans and other consequences associated with the risks and uncertainties detailed in our filings with the SEC, including our most recent filings on Forms 10-K and 10-Q.

We caution you that the above list of factors is not exclusive and that new factors may emerge or changes to previous factors may occur which could affect our business. We undertake no obligation to publicly update or revise any such statements, whether as a result of new information, future events or otherwise, except as required by federal securities laws.

Investor Relations:
Alex Kovtun and Matt Glover
Gateway Group, Inc.
949-574-3860
[email protected]

Marianne R. Winn