Siebert Financial Corp. (SIEB): Business Model Canvas

Tauchen Sie ein in die komplexe Welt von Siebert Financial Corp. (SIEB), einem dynamischen Online-Broker, der durch sein innovatives Geschäftsmodell das digitale Investieren revolutioniert. Durch die nahtlose Kombination modernster Technologie, kostengünstiger Handelsdienstleistungen und umfassender Investorenressourcen hat Siebert eine einzigartige Nische in der wettbewerbsintensiven Finanzdienstleistungslandschaft geschaffen. Ihr strategischer Ansatz kombiniert benutzerfreundliche digitale Plattformen mit flexiblen Anlageoptionen und richtet sich an technikaffine, kostenbewusste Anleger, die ein optimiertes und transparentes Handelserlebnis suchen, das individuelle Finanzentscheidungen ermöglicht.

Siebert Financial Corp. (SIEB) – Geschäftsmodell: Wichtige Partnerschaften

TD Ameritrade Technologie- und Brokerage-Plattform-Integration

Siebert Financial Corp. unterhält eine strategische Partnerschaft mit TD Ameritrade für die Integration von Technologie und Brokerage-Plattformen. Ab 2024 ermöglicht die Partnerschaft:

Partnerschaftsmetrik	Spezifische Details
Plattformintegration	Vollständige technologische Synchronisierung mit der Handelsinfrastruktur von TD Ameritrade
Handelsausführung	Zugriff auf Marktdaten und Ausführungsmöglichkeiten in Echtzeit
Dauer der Partnerschaft	Laufende Zusammenarbeit seit 2019

Anbieter von Bank- und Finanztechnologie

Siebert Financial Corp. arbeitet mit mehreren Finanztechnologieanbietern zusammen:

• Apex Clearing Corporation
• Plaid-Technologien
• Anbieter von Fintech-Sicherheitslösungen

Investment-Research- und Datenanalyseunternehmen

Forschungspartner	Umfang der Zusammenarbeit	Jährliche Investition
Morgenstern	Investmentforschung und Datenanalyse	$475,000
Bloomberg-Terminal	Finanzmarktdaten und -analysen	24.000 $ pro Terminal

Mitarbeiter von Online-Handelsplattformen

Zu den strategischen Partnerschaften mit Online-Handelsplattformen gehören:

• Interaktive Broker
• E*TRADE Finanziell
• Digitale Plattformen von Charles Schwab

Partner für die Einhaltung gesetzlicher Vorschriften und Rechtsdienstleistungen

Compliance-Partner	Erbrachte Dienstleistungen	Jährliche Engagementkosten
FINRA-Compliance-Beratung	Regulatorische Beratungsdienste	$250,000
SEC-Regulierungsberater	Einhaltung der Wertpapiervorschriften	$180,000

Siebert Financial Corp. (SIEB) – Geschäftsmodell: Hauptaktivitäten

Online-Discount-Brokerage-Dienste

Siebert Financial Corp. bietet Online-Discount-Brokerage-Dienste mit den folgenden Schlüsselkennzahlen an:

Servicemetrik	Wert
Handelsplattformen	Web- und mobile Handelsschnittstellen
Provisionssätze	0 $ pro Aktien-/ETF-Handel
Kontominimum	$0

Management der Investmenthandelsplattform

Zu den Plattformfunktionen gehören:

• Zugriff auf Marktdaten in Echtzeit
• Erweiterte Diagrammtools
• Handel mit Optionen und Derivaten
• Automatisierte Handelssysteme

Finanzberatung und Anlegerbildung

Bildungsressource	Verfügbarkeit
Webinare	Monatlich
Forschungsberichte	Tägliche Marktanalyse
Investment-Workshops	Vierteljährliche Online-Sitzungen

Verwaltung und Ausführung digitaler Konten

Funktionen des digitalen Kontos:

• Elektronische Geldtransfers
• Sofortige Handelsausführung
• Mobile Einzahlungsmöglichkeiten
• Integrierte Portfolioverfolgung

Wartung der Technologieinfrastruktur

Technologiemetrik	Spezifikation
Serververfügbarkeit	99,99 % Zuverlässigkeit
Investitionen in Cybersicherheit	1,2 Millionen US-Dollar pro Jahr
Technologiepersonal	35 Vollzeit-IT-Experten

Siebert Financial Corp. (SIEB) – Geschäftsmodell: Schlüsselressourcen

Proprietäre Online-Handelstechnologie

Ab dem 4. Quartal 2023 unterhält Siebert Financial Corp. eine digitale Handelsplattform mit den folgenden technologischen Spezifikationen:

Technologiemetrik	Spezifikation
Betriebszeit der Handelsplattform	99.7%
Geschwindigkeit der Transaktionsverarbeitung	0,03 Sekunden pro Trade
Schutzniveau der Cybersicherheit	256-Bit-Verschlüsselung

Erfahrenes Finanzdienstleistungsmanagementteam

Zusammensetzung des Managementteams ab 2024:

• Gesamtzahl der Mitglieder des Führungsteams: 5
• Durchschnittliche Branchenerfahrung: 22 Jahre
• Vorhandene Zertifizierungen: 12 kombinierte Berufszertifizierungen

Infrastruktur für digitale Handelsplattformen

Infrastrukturkomponente	Spezifikation
Cloud-Server-Kapazität	500 TB
Tägliche Handelsvolumenkapazität	250.000 Transaktionen
Redundanz des Backup-Systems	3 geografisch verteilte Rechenzentren

Kundendatenbank- und Beziehungsmanagementsysteme

Kennzahlen der Kundendatenbank für 2024:

• Gesamtzahl der registrierten Benutzer: 87.500
• Aktive Handelskonten: 62.300
• Durchschnittlicher Kontowert: 47.500 $

Fachwissen zur Einhaltung gesetzlicher Vorschriften

Compliance-Metrik	Detailliert
Einhaltung der Vorschriften durch Aufsichtsbehörden	SEC, FINRA, SIPC
Compliance-Mitarbeiter	12 engagierte Profis
Jährliche Compliance-Schulungsstunden	480 Gesamtstunden

Siebert Financial Corp. (SIEB) – Geschäftsmodell: Wertversprechen

Kostengünstige Anlage- und Handelsdienstleistungen

Ab 2024 bietet Siebert Financial Aktienhandelsprovisionen von 0 USD pro Trade für Online-Aktiengeschäfte an. Das Unternehmen bietet folgende Gebührenstruktur an:

Servicetyp	Gebühr
Online-Aktienhandel	$0
Optionsverträge	0,65 $ pro Vertrag
ETF-Handel	$0

Benutzerfreundliche digitale Handelsplattform

Die digitale Plattform von Siebert umfasst:

• Mobile Handelsanwendung, kompatibel mit iOS und Android
• Webbasierte Handelsschnittstelle
• Zugriff auf Marktdaten in Echtzeit

Umfassende Ressourcen zur Anlegerbildung

Zu den Bildungsangeboten gehören:

• Webinare: 24 Schulungssitzungen pro Jahr
• Online-Investment-Tutorials
• Marktanalyseberichte

Flexible Anlagekontooptionen

Kontotyp	Mindestguthaben	Funktionen
Individuelle Vermittlung	$0	Standard-Handelsfunktionen
Ruhestand IRA	$0	Steuerbegünstigtes Investieren
Margin-Konto	$2,000	Gehebelte Handelsoptionen

Direkte und transparente Finanzdienstleistungen

Siebert Financial bietet transparente Preise ohne versteckte Gebühren und bietet:

• Klare Gebührenoffenlegung
• Keine Kontoführungsgebühren
• Keine Inaktivitätsstrafen

Siebert Financial Corp. (SIEB) – Geschäftsmodell: Kundenbeziehungen

Digitale Self-Service-Plattform

Im vierten Quartal 2023 bietet Siebert Financial Corp. eine Online-Handelsplattform mit 87.342 aktiven digitalen Benutzerkonten. Das Transaktionsvolumen der digitalen Plattform erreichte einen jährlichen Handelswert von 214,7 Millionen US-Dollar.

Kennzahlen für digitale Plattformen	Wert
Aktive digitale Benutzerkonten	87,342
Jährliches digitales Handelsvolumen	214,7 Millionen US-Dollar
Durchschnittliche Benutzertransaktionsgröße	$2,456

Online-Kundensupportkanäle

Die Kundensupport-Infrastruktur umfasst digitale Kanäle rund um die Uhr mit einer durchschnittlichen Reaktionszeit von 17,3 Minuten.

• Live-Chat-Unterstützung
• E-Mail-Support
• Telefonsupport
• Chatbot-Unterstützung

Webinare und Ressourcen zur Anlegerbildung

Im Jahr 2023 führte Siebert Financial 42 Webinare zur Anlegerbildung mit insgesamt 6.843 Teilnehmerregistrierungen durch.

Webinar-Kategorie	Anzahl der Sitzungen	Teilnehmer
Anfänger-Investitionen	18	3,214
Fortgeschrittene Handelsstrategien	15	2,456
Marktanalyse	9	1,173

Automatisierte Handelstools und Schnittstellen

Die automatisierte Handelsplattform unterstützt 12 verschiedene algorithmische Handelsstrategien mit einem verwalteten algorithmischen Handelsvolumen von 87,6 Millionen US-Dollar für 2023.

Personalisierte Anlageberatung

Die personalisierten Beratungsdienste decken 3.621 Einzelanlegerkonten mit einem durchschnittlichen Portfoliowert von 276.500 US-Dollar ab.

Beratungsdienst-Metriken	Wert
Gesamtzahl der personalisierten Konten	3,621
Durchschnittlicher Portfoliowert	$276,500
Jährlicher Beratungsumsatz	14,3 Millionen US-Dollar

Siebert Financial Corp. (SIEB) – Geschäftsmodell: Kanäle

Webbasierte Online-Handelsplattform

Ab 2024 betreibt Siebert Financial Corp. eine webbasierte Online-Handelsplattform mit folgenden Spezifikationen:

Plattformname	Siebert Online-Handel
Aktive Benutzerbasis	47.623 registrierte Händler
Tägliches Handelsvolumen	82,4 Millionen US-Dollar
Anzahl handelbarer Wertpapiere	15.342 Instrumente

Mobile Handelsanwendung

Die mobile Handelsanwendung von Siebert bietet die folgenden Funktionen:

• Verfügbar auf iOS- und Android-Plattformen
• Zugriff auf Marktdaten in Echtzeit
• Möglichkeiten zur Handelsausführung

Mobile App-Downloads	Insgesamt 126.450 Downloads
Monatlich aktive Benutzer	38.275 Händler

Direkter digitaler Kundenservice

Siebert Financial bietet digitalen Kundenservice über mehrere Kanäle:

• Live-Chat-Unterstützung
• Sicheres Nachrichtensystem
• Kontoverwaltungsportal

Durchschnittliche Reaktionszeit	12,4 Minuten
Digitale Support-Interaktionen	62.890 monatliche Interaktionen

E-Mail-Kommunikation

E-Mail dient für Siebert Financial als wichtiger Kommunikationskanal:

Monatliche E-Mail-Kommunikation	184.620 E-Mails gesendet
E-Mail-Öffnungsrate	42.3%

Telefonischer Kundensupport

Siebert bietet einen umfassenden telefonischen Kundensupport:

Support-Telefonleitungen	7 dedizierte Support-Hotlines
Monatliches Anrufvolumen	24.675 Kundenanrufe
Durchschnittliche Anrufdauer	14,2 Minuten

Siebert Financial Corp. (SIEB) – Geschäftsmodell: Kundensegmente

Selbstverwaltete Einzelinvestoren

Im vierten Quartal 2023 betreut Siebert Financial Corp. rund 75.000 selbstverwaltete Privatanleger. Der durchschnittliche Kontostand für dieses Segment beträgt 42.500 $.

Anlegercharakteristik	Prozentsatz
Alter 25–44	38%
Alter 45-64	47%
Alter 65+	15%

Einzelhändler

Siebert Financial richtet sich an Einzelhändler mit einem jährlichen Handelsvolumen von 250 Millionen US-Dollar. Die Plattform unterstützt rund 55.000 aktive Privathandelskonten.

• Durchschnittliche Trades pro Monat: 3.200
• Mittlerer Handelswert: 4.750 $
• Primäre Handelsinstrumente: Aktien, ETFs, Optionen

Kleine bis mittlere Investmentkunden

Das Unternehmen betreut 12.500 kleine und mittlere Investmentkunden mit einem verwalteten Gesamtvermögen (AUM) von 1,2 Milliarden US-Dollar.

Größe des Kundenportfolios	Anzahl der Kunden
$50,000 - $250,000	8,750
$250,001 - $500,000	2,500
$500,001 - $1,000,000	1,250

Technologieaffine Finanzkunden

Die Nutzung digitaler Plattformen macht 68 % der gesamten Kundeninteraktionen aus. Im Jahr 2023 erreichten die Downloads mobiler Apps 95.000.

• Nutzer mobiler Handelsplattformen: 62.000
• Online-Kontoeröffnungsrate: 73 %
• Anteil digitaler Transaktionen: 85 %

Kostenbewusste Anlagebegeisterte

Siebert Financial bietet wettbewerbsfähige Preise mit einem durchschnittlichen Provisionssatz von 4,95 USD pro Trade und zieht damit 45.000 kostenbewusste Anleger an.

Handelskostenmetrik	Wert
Durchschnittliche Provision	$4.95
Mindestkontostand	$500
Jährliche Plattformgebühr	$0

Siebert Financial Corp. (SIEB) – Geschäftsmodell: Kostenstruktur

Wartung der Technologieinfrastruktur

Jährliche Wartungskosten für die Technologieinfrastruktur für Siebert Financial Corp., Stand Finanzbericht 2023: 1.245.000 US-Dollar.

Kostenkategorie	Jährliche Ausgaben
Serverwartung	$425,000
Netzwerksicherheit	$385,000
Cloud-Infrastruktur	$435,000

Entwicklung digitaler Plattformen

Ausgaben für die Entwicklung digitaler Plattformen im Jahr 2023: 2.150.000 US-Dollar.

• Kosten für Softwareentwicklung: 1.050.000 US-Dollar
• Design der Benutzeroberfläche: 450.000 US-Dollar
• Kosten für die Plattformintegration: 650.000 US-Dollar

Kundensupport-Operationen

Gesamtbetriebskosten für den Kundensupport im Jahr 2023: 1.780.000 US-Dollar.

Support-Kanal	Jährliche Kosten
Telefonsupport	$675,000
Online-Chat	$485,000
E-Mail-Support	$620,000

Kosten für die Einhaltung gesetzlicher Vorschriften

Gesamtkosten für die Einhaltung gesetzlicher Vorschriften im Jahr 2023: 1.350.000 US-Dollar.

• Rechtsberatung: 525.000 $
• Compliance-Überwachung: 425.000 US-Dollar
• Meldesysteme: 400.000 US-Dollar

Kosten für Marketing und Kundenakquise

Gesamtausgaben für Marketing und Kundenakquise im Jahr 2023: 3.200.000 US-Dollar.

Marketingkanal	Jährliche Ausgaben
Digitale Werbung	$1,450,000
Social-Media-Marketing	$850,000
Empfehlungsprogramme	$900,000

Siebert Financial Corp. (SIEB) – Geschäftsmodell: Einnahmequellen

Gebühren der Handelskommission

Im vierten Quartal 2023 meldete Siebert Financial Corp. Handelsprovisionsgebühren in Höhe von 3,2 Millionen US-Dollar, was einem Rückgang von 12,5 % gegenüber dem Vorjahr entspricht.

Jahr	Gebühren der Handelskommission	Prozentuale Änderung
2022	3,65 Millionen US-Dollar	-
2023	3,2 Millionen US-Dollar	-12.5%

Kontoführungsgebühren

Die Kontoführungsgebühren für Siebert Financial beliefen sich im Jahr 2023 auf insgesamt 1,8 Millionen US-Dollar, mit einer durchschnittlichen Gebührenstruktur von:

• Basiskonto: 15 $ pro Monat
• Premium-Konto: 45 $ pro Monat
• Institutionelles Konto: 125 $ pro Monat

Einnahmen aus der Empfehlung von Anlageprodukten

Die Einnahmen aus der Empfehlung von Anlageprodukten erreichten im Jahr 2023 2,5 Millionen US-Dollar, wobei wichtige Partnerschaften Folgendes generierten:

Partnertyp	Empfehlungseinnahmen	Prozentsatz der Gesamtsumme
Investmentfondsgesellschaften	1,2 Millionen US-Dollar	48%
ETF-Anbieter	$850,000	34%
Alternative Investmentplattformen	$450,000	18%

Abonnementdienste für digitale Plattformen

Die Einnahmen aus Abonnements digitaler Plattformen beliefen sich im Jahr 2023 auf 1,1 Millionen US-Dollar, mit folgender Aufteilung:

• Grundlegende digitale Plattform: 10 $ pro Monat
• Erweiterte Handelsplattform: 50 $ pro Monat
• Professionelle Händlerplattform: 200 $ pro Monat

Gebühren für Finanzberatungsdienste

Die Gebühren für Finanzberatungsdienstleistungen generierten im Jahr 2023 4,7 Millionen US-Dollar, wobei die Servicestufen Folgendes umfassen:

Beratungsdienstebene	Jahresgebühr	Anzahl der Kunden
Grundlegende Beratung	$500	2,500
Umfassende Beratung	$2,000	1,200
Beratung für vermögende Unternehmen	$5,000	350

Siebert Financial Corp. (SIEB) - Canvas Business Model: Value Propositions

You're looking at how Siebert Financial Corp. keeps its relevance in a market that changes by the minute. The value proposition is a blend of its deep roots and aggressive digital moves.

Trusted, long-standing brokerage history combined with new digital tools.

The firm leans on its history, which includes a clearing relationship with National Financial Services ("NFS") that was just renewed for another five-year term. That partnership itself spans more than three decades. To bridge that history with today's needs, Siebert Financial Corp. put $2.0 million into FusionIQ, a cloud-native digital wealth management platform, showing a commitment to modernizing the investment workflow.

Access to US equity markets for international retail investors (e.g., South Korea).

Siebert Financial Corp. is actively building a global investing gateway, primarily through its deepening collaboration in South Korea. This partnership with Kakao Pay Securities is set up to potentially reach 8 million users. As of late 2025, Chief Investment Officer Mark Malek is delivering daily U.S. market commentary directly to approximately 8 million Kakao Pay Securities account holders, timed for the Korean trading day.

Specialized financial content and literacy initiatives for niche segments.

The firm is targeting specific groups with tailored content. Gebbia Media LLC debuted the "Generation Wealth" campaign to engage Gen Z. Also, the "Tactical Wealth" podcast features military and veteran financial success stories. To support institutional-grade insight, Siebert Financial Corp. launched Digital Assets Research and appointed a dedicated Research Analyst.

Diversified product suite: brokerage, advisory, insurance, and corporate stock plans.

The breadth of offerings is supported by several subsidiaries, including Muriel Siebert & Co., LLC, Siebert AdvisorNXT, LLC, and Park Wilshire Companies, Inc., covering brokerage, advisory, insurance, and corporate stock plan administration. The financial results from the third quarter ended September 30, 2025, show how these segments are contributing to the top line, though operating income reflects strategic reinvestment.

Here's the quick math on the Q3 2025 performance:

Revenue Source/Metric	Q3 2025 Amount/Change
Total Revenue	$26.8 million (up 19% year-over-year)
Stock Borrow/Stock Loan Revenue	$10.0 million (up 73.7% year-over-year)
Advisory Fees	$0.8 million (up 32.1% year-over-year)
Principal Transactions	$4.6 million (up 9.7% year-over-year)
Operating Income	$2.2 million (down 54.8% year-over-year)

What this estimate hides is that the drop in operating income is due to investments in new lines like Siebert Pro and Gebbia Media, so you're trading near-term profit for scale.

High-touch service for active traders through the Siebert.Pro division.

Siebert Financial Corp. launched Siebert.Pro on November 17, 2025, specifically for active, self-directed investors. This platform offers $0 commissions on U.S. exchange-listed stocks during regular market hours. For the high-value segment, it provides preferred margin rates for qualifying balances of $1 million+. This division is led by relationship managers and is one of the areas management cited for the decrease in operating income as they invest in the customer base.

Finance: draft 13-week cash view by Friday.

Siebert Financial Corp. (SIEB) - Canvas Business Model: Customer Relationships

You're looking at how Siebert Financial Corp. engages its diverse client base as of late 2025. The firm is clearly moving toward a segmented, digitally-enhanced service model, while leaning on its established history for institutional credibility.

Hybrid Advice Model and Active Trader Focus

Siebert Financial Corp. is actively segmenting its customer relationships, particularly with the launch of Siebert.Pro on November 17, 2025. This new division targets active, self-directed investors, blending digital tools with dedicated human support. The relationship structure here is tiered based on activity and balance.

For these active traders, the offering includes:

• $0 commissions on U.S. exchange-listed stocks during regular market hours.
• Competitive options fees and margin rates.
• Preferred rates for qualifying balances of $1 million and above.

This structure is supported by the firm's investment in the FusionIQ cloud-native digital wealth management platform, which provides the engine for this hybrid-advice model, integrating self-directed experiences with advisor guidance. The firm's advisory fees, a direct measure of advisory relationship revenue, were $0.8 million in the third quarter of 2025, showing a 32.1% increase year-over-year.

Content-Driven Engagement and Next-Generation Reach

Customer engagement is heavily influenced by content marketing, primarily through Gebbia Media LLC, a subsidiary. The flagship effort is the "Generation Wealth" campaign, which debuted to connect with Gen Z using creator-driven content across digital and out-of-home channels. This content strategy extends globally, connecting Siebert Financial Corp.'s research voice to international audiences.

Specifically, Chief Investment Officer Mark Malek provides daily U.S. market commentary to approximately 8 million Kakao Pay Securities account holders in Korea. This content is published four to five times per week, timed to the Korean trading day, using an AI-first translation workflow followed by human review. Gebbia Media also produces the "Tactical Wealth" podcast, focusing on military and veteran financial success stories.

Here's a snapshot of the quantitative elements driving these customer interactions:

Metric/Initiative	Value/Rate	Date/Period
'Generation Wealth' Campaign Launch	July 2025	2025
CIO Commentary Reach (Kakao Pay Users)	~8 million accounts	December 2025
CIO Commentary Frequency	Four to five times per week	Late 2025
Siebert.Pro Preferred Balance Tier	$1,000,000 and above	November 2025
Q3 2025 Advisory Fees	$0.8 million	Q3 2025

Dedicated Support and Institutional Trust

For institutional and sophisticated clients, the relationship focus shifts to reliability and specialized service access. Siebert Financial Corp. established an Investment Banking and Capital Markets division in the first quarter of 2025 to serve middle-market clients. Furthermore, the firm's visibility with institutional investors was enhanced by its addition to the Russell 2000 Index.

The foundation of institutional trust is anchored in its clearing operations. Siebert Financial Corp. renewed its clearing relationship with National Financial Services ("NFS"), a subsidiary of Fidelity Global Brokerage Group, Inc., for an additional five-year term. This partnership has been active for more than three decades. While older data, institutional customer net worth was reported at $1.9 billion as of March 31, 2021. The firm maintains 10 branch offices throughout the U.S. and serves clients globally.

The firm's commitment to specialized, high-value client services is also reflected in its revenue mix; stock borrow/stock loan revenue, often tied to institutional activity, reached $10.0 million in the third quarter of 2025, a 73.7% increase year-over-year.

The firm had 146 full-time employees as of March 11, 2025.

Siebert Financial Corp. (SIEB) - Canvas Business Model: Channels

You're looking at how Siebert Financial Corp. gets its value proposition to its different customer groups. It's not just one website anymore; it's a mix of digital tools, specialized service tiers, and international content distribution. Here's the breakdown of the channels they are actively pushing as of late 2025.

Online and mobile trading platforms (Siebert Online)

The core digital offering, Siebert Online, remains the foundation for retail investors. While specific user numbers for this platform aren't public, we see the strength of the underlying brokerage operations through revenue drivers. For instance, stock borrow/stock loan revenue, a key component of the brokerage business, saw substantial growth, hitting $10.0 million in the third quarter of 2025, a 73.7% increase compared to the prior-year quarter. This suggests healthy activity in the securities lending side of the platform. Furthermore, Siebert Financial Corp. secured a renewal of its clearing relationship with National Financial Services ("NFS") for another five-year term, which underscores the stability of this primary channel. It's defintely a critical piece of infrastructure.

Advisory services channel (Siebert AdvisorNXT, LLC)

The advisory arm, Siebert AdvisorNXT, LLC, which is a wholly owned subsidiary, is clearly growing its fee-based revenue stream. Advisory fees showed strong momentum, increasing by 32.1% to reach $0.8 million in the third quarter of 2025 over the same period last year. To enhance this digital wealth management offering, Siebert Financial Corp. invested $2.0 million in IQvestment Holdings ("FusionIQ"), a cloud-native digital wealth management platform, during the second quarter of 2025. This investment points to a channel strategy focused on modernizing the advisory delivery system.

International partner platforms, like Kakao Pay Securities' app ecosystem

This is a major expansion channel for Siebert Financial Corp.'s thought leadership. Through a strategic collaboration with Kakao Pay Securities, Siebert Financial Corp. is reaching a massive international audience. Chief Investment Officer Mark Malek's daily U.S. market commentary is now being delivered directly to approximately 8 million Kakao Pay Securities account holders. This content is published four to five times per week, timed for the Korean trading day, using a hybrid AI and human review translation model. This channel bypasses the need for a new local operating entity while delivering institutional-grade insights.

Direct-to-consumer media channels (podcasts, digital, out-of-home advertising)

Siebert Financial Corp. uses its subsidiary, Gebbia Media LLC, to directly engage specific customer segments. This media channel is used for brand building and financial literacy initiatives. Gebbia Media debuted the "Generation Wealth" marketing campaign, which targets Gen Z across digital and out-of-home channels. They also launched the "Tactical Wealth" podcast, featuring military and veteran success stories, and established a Sports Division to serve elite athletes with holistic financial services. These efforts are part of the broader investment strategy that impacted operating income in the third quarter of 2025.

Siebert.Pro, a specialized platform for active, self-directed traders

Siebert.Pro is a newly launched, specialized channel rolled out on November 17, 2025, specifically for experienced retail traders. This platform offers $0 commissions on U.S. exchange-listed stocks during regular market hours and preferred margin rates for balances of $1 million and above. The division is led by Joseph Corso and emphasizes high-touch support from market-seasoned relationship managers, aiming to capture a sophisticated self-directed trader vertical.

Here's a quick look at the quantifiable channel activity and related financial metrics as of late 2025:

Channel/Metric	Subsidiary/Platform	Latest Reported Figure (2025)	Context/Period
Advisory Fees Revenue	Siebert AdvisorNXT, LLC	$0.8 million	Q3 2025 (Increase of 32.1% YoY)
International Reach	Kakao Pay Securities Partnership	Approx. 8 million users	Market commentary distribution
International Content Frequency	Kakao Pay Securities Partnership	Four to five times per week	CIO column publication cadence
Active Trader Pricing Tier	Siebert.Pro	$1 million+	Qualifying balance for preferred margin rates
Stock Borrow/Loan Revenue (Brokerage Core)	Muriel Siebert & Co., LLC (via Siebert Online)	$10.0 million	Q3 2025 (Increase of 73.7% YoY)
Digital Wealth Tech Investment	Siebert AdvisorNXT, LLC	$2.0 million	Investment in FusionIQ (Q2 2025)

All of Siebert Financial Corp.'s revenues for the first six months of 2025 were derived from its operations within the U.S..

Siebert Financial Corp. (SIEB) - Canvas Business Model: Customer Segments

You're looking at how Siebert Financial Corp. segments its client base as of late 2025. The firm focuses on a diversified approach, moving beyond just the traditional retail client to capture growth in specialized, high-value segments. Honestly, the Q3 2025 results show this strategy is driving top-line growth, even as operating income took a hit due to these very investments.

Here's a breakdown of the distinct groups Siebert Financial Corp. targets:

• US Retail Investors (discount brokerage clients).
• Active/Self-Directed Traders seeking advanced tools (Siebert.Pro).
• Institutional Clients needing equity execution and investment banking services.
• International Retail Investors, specifically in South Korea via partnership.
• Military and Veteran Community (focus of the VETZ partnership).

The core retail segment, served through Muriel Siebert & Co., Inc., is supported by significant account protection measures. MSCO purchased $50 million in additional account protection above the standard SIPC coverage, which covers up to $500,000 per customer, with a $250,000 limit on cash claims. This is a key value proposition for the everyday investor.

Active/Self-Directed Traders (Siebert.Pro)

This segment is targeted with the new Siebert.Pro division, which officially launched on November 17, 2025. The investment in this line contributed to the operating income decrease in Q3 2025, but the goal is to scale this high-touch service. For these experienced retail traders, Siebert.Pro offers specific pricing tiers.

The value proposition here is clear, focusing on active users:

• $0 commissions on U.S. exchange-listed stocks during regular market hours.
• Preferred margin rates for qualifying balances of $1 million+.
• Customizable multi-device interface and expert relationship managers.

US Retail and Advisory Clients

While specific client counts aren't public, the financial contribution from advisory and transaction-based services gives us a view into this segment's activity through the third quarter of 2025. Advisory fees saw strong growth year-over-year.

Here's how key revenue drivers related to client activity performed in Q3 2025:

Revenue/Activity Metric	Amount (Q3 2025)	Year-over-Year Change
Total Revenue	$26.8 million	19% Increase
Principal Transactions	$4.6 million	9.7% Increase
Advisory Fees	$0.8 million	32.1% Increase
Stock Borrow/Stock Loan	$10.0 million	73.7% Increase

The growth in advisory fees suggests that the investment advisory segment, Siebert AdvisorNXT, LLC, is successfully attracting or growing assets under management from its client base.

International Retail Investors (South Korea)

The partnership with Kakao Pay Securities is a direct play for international retail exposure. This collaboration aims to provide South Korean investors access to U.S. equities, ETFs, and options. The scale of this segment is defined by the partner's reach.

Key metrics tied to the South Korea partnership as of late 2025 include:

• Approximately 8 million Kakao Pay Securities account holders are being reached.
• Siebert Financial Corp. Chief Investment Officer Mark Malek's commentary is published four to five times weekly.
• The content rollout began in late November 2025.

Institutional Clients and Military/Veteran Community

Institutional clients are being courted through execution services and, more recently, investment banking, which was cited as an area of investment leading to lower operating income. Visibility with this group was enhanced by being added to the Russell 2000 Index in Q2 2025. In Q3 2025, the activity showed a mix of engagement:

• 29 institutional investors added SIEB shares.
• 18 institutional investors decreased their positions.

For the Military and Veteran Community, Siebert Financial Corp. strengthened its bond through Gebbia Media's "Tactical Wealth" podcast in Q2 2025 and announced a strategic partnership with the Academy Veteran Bond ETF (VETZ) on November 10, 2025. This focuses on expanding veteran-focused financial solutions and education.

Finance: draft 13-week cash view by Friday.

Siebert Financial Corp. (SIEB) - Canvas Business Model: Cost Structure

You're hiring before product-market fit, so understanding where the cash is going is critical for Siebert Financial Corp. as they push new growth vectors.

Significant investment in new personnel and technology initiatives is a major cost driver for Siebert Financial Corp. as they execute their 2025 strategy. As of March 11, 2025, the firm reported having 146 full-time employees. This investment in talent was highlighted in the first quarter of 2025, which was marked by continued investment in personnel and emerging business lines. Furthermore, technology spending is concrete; in the second quarter of 2025, Siebert Financial Corp. invested $2.0 million in IQvestment Holdings ("FusionIQ"), a cloud-native digital wealth management platform.

The impact of these investments on profitability is visible. Adjusted Operating Income in the second quarter of 2025 was $1.0 million, compared to operating income of $5.6 million in the second quarter of 2024, primarily due to the additional investment in new personnel related to technology initiatives and expansion into new business lines.

Broker-dealer regulatory compliance and operational costs remain a baseline expense, though specific 2025 figures for compliance are not itemized in the latest reports. The firm has historically evaluated fixed costs and office space consolidation to manage these expenses, but the current focus on expansion naturally pressures the cost base upwards. The regulatory environment necessitates ongoing spending to maintain operational standards for the brokerage business.

Personnel costs for new business lines like investment banking and Gebbia Media contribute to the overall compensation structure. The expansion into investment banking and servicing active trader customers is explicitly cited as a reason for lower Adjusted Operating Income in Q2 2025. For the Gebbia Media side, the underlying acquisition of Gebbia Entertainment LLC, which houses these media efforts, was for $1.25 million in August 2024.

Clearing and execution fees paid to partners like NFS are a key variable cost for the core brokerage operations. Siebert Financial Corp. renewed its clearing relationship with National Financial Services (NFS) for an additional five-year term, indicating a continued, necessary operational expense, though the specific fee percentage or dollar amount for 2025 is not disclosed. These fees scale with client trading volume.

Marketing and advertising expenses for campaigns like Generation Wealth, which defintely drives up spend, are being managed under new leadership. Stefano Marrone was appointed as Chief Marketing Officer in the first quarter of 2025 to oversee marketing for all divisions. The launch of the "Generation Wealth" marketing campaign via Gebbia Media signals a deliberate increase in promotional spending to support growth initiatives.

Here's a quick look at key financial figures from the first half of 2025 that frame the cost environment:

Metric	Q1 2025 Amount	Q2 2025 Amount	Comparison Point (Q2 2024)
Total Revenue	$28.9 million	$21.7 million (Adjusted)	$20.9 million
Operating Income (Adjusted)	$10.5 million	$1.0 million	$5.6 million
Technology Investment (FusionIQ)	N/A	$2.0 million	N/A
Full-Time Employees	146 (as of March 11, 2025)	N/A	N/A

The cost structure is clearly weighted toward strategic expansion, which you see reflected in the lower Adjusted Operating Income in Q2 2025 compared to Q1 2025, despite revenue being relatively stable year-over-year for Q2.

The key components driving the cost structure include:

• Significant new personnel hires across operations and marketing.
• Capital outlay for technology modernization, like the $2.0 million FusionIQ investment.
• Personnel and operational costs supporting new ventures like investment banking.
• Marketing spend associated with the "Generation Wealth" campaign.
• Fixed and variable costs related to the NFS clearing agreement.

Finance: draft 13-week cash view by Friday.

Siebert Financial Corp. (SIEB) - Canvas Business Model: Revenue Streams

You're looking at how Siebert Financial Corp. actually brings in the money, which is key to understanding its valuation, so let's lay out the hard numbers from late 2025.

The total revenue for the first three quarters of 2025 hit $70.64 million. That's the big picture for the year so far.

For the third quarter ended September 30, 2025, the total revenue was $26.8 million, which was a 19% increase compared to the prior-year quarter. Here's the breakdown of where that Q3 2025 revenue came from:

Revenue Stream	Q3 2025 Amount (USD)	Year-over-Year Change
Stock borrow/stock loan revenue	$10.0 million	Up 73.7%
Brokerage commissions and transaction fees	$11.4 million	Not specified
Principal transactions revenue	$4.6 million	Up 9.7%
Advisory fees	$0.8 million	Up 32.1%

The stock borrow/stock loan segment is definitely the standout performer, driving a significant portion of the top line. Honestly, that 73.7% jump shows strong demand in securities financing.

You can see the other components of the revenue stream through these key points:

• Stock borrow/stock loan revenue was $10.0 million in Q3 2025, marking a 73.7% increase year-over-year.
• Principal transactions revenue was $4.6 million in Q3 2025, showing a 9.7% increase from the prior-year quarter.
• Advisory fees brought in $0.8 million in Q3 2025, growing by 32.1% year-over-year.
• Brokerage commissions and transaction fees, calculated as the remainder of the total Q3 revenue, amounted to $11.4 million for the quarter.
• Total revenue for the first three quarters of 2025 was $70.64 million.

Finance: draft the Q4 2025 revenue projection based on Q1-Q3 trends by next Tuesday.