Siebert Financial Corp. (SIEB): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

Sumérgete en el intrincado mundo de Siebert Financial Corp. (Sieb), una corredora dinámica en línea que revoluciona la inversión digital a través de su innovador modelo de negocio. Al combinar a la perfección la tecnología de vanguardia, los servicios comerciales de bajo costo y los recursos integrales de los inversores, Siebert ha forjado un nicho único en el panorama competitivo de los servicios financieros. Su enfoque estratégico combina plataformas digitales fáciles de usar con opciones de inversión flexibles, dirigidos a inversores con costo tecnológico que buscan una experiencia comercial racionalizada y transparente que capacite la toma de decisiones financieras individuales.

Siebert Financial Corp. (Sieb) - Modelo de negocios: asociaciones clave

Integración de la plataforma TD Ameritrade Technology and Brokerage

Siebert Financial Corp. mantiene una asociación estratégica con TD Ameritrade para la integración de la plataforma de tecnología y corretaje. A partir de 2024, la asociación habilita:

Métrico de asociación	Detalles específicos
Integración de plataforma	Sincronización tecnológica completa con la infraestructura comercial de TD Ameritrade
Ejecución comercial	Acceso a los datos del mercado en tiempo real y las capacidades de ejecución
Duración de la asociación	Relación colaborativa en curso desde 2019

Proveedores de tecnología bancaria y financiera

Siebert Financial Corp. colabora con múltiples proveedores de tecnología financiera:

• Apex Clearing Corporation
• Tecnologías a cuadros
• Proveedores de soluciones de seguridad de FinTech

Investigación de inversiones y empresas de análisis de datos

Socio de investigación	Alcance de colaboración	Inversión anual
Estrella de la mañana	Investigación de inversiones y análisis de datos	$475,000
Terminal de Bloomberg	Datos y análisis del mercado financiero	$ 24,000 por terminal

Colaboradores de plataforma de comercio en línea

Las asociaciones estratégicas con plataformas comerciales en línea incluyen:

• Corredores interactivos
• E*comercio financiero
• Plataformas digitales de Charles Schwab

Cumplimiento regulatorio y socios de servicio legal

Socio de cumplimiento	Servicios proporcionados	Costo de participación anual
Consultoría de cumplimiento de finra	Servicios de asesoramiento regulatorio	$250,000
Consultores reguladores de la SEC	Cumplimiento de la regulación de valores	$180,000

Siebert Financial Corp. (Sieb) - Modelo de negocio: actividades clave

Servicios de corretaje de descuento en línea

Siebert Financial Corp. proporciona servicios de corretaje de descuento en línea con las siguientes métricas clave:

Métrico de servicio	Valor
Plataformas comerciales	Interfaces de comercio web y móvil
Tarifas de comisión	$ 0 por acción/comercio ETF
Cuenta mínima	$0

Gestión de la plataforma de comercio de inversiones

Las capacidades de la plataforma incluyen:

• Acceso a datos del mercado en tiempo real
• Herramientas avanzadas
• Opciones y comercio de derivados
• Sistemas de comercio automatizados

Asesoramiento financiero y educación para inversores

Recurso educativo	Disponibilidad
Seminarios web	Mensual
Informes de investigación	Análisis de mercado diario
Talleres de inversión	Sesiones trimestrales en línea

Gestión y ejecución de cuentas digitales

Características de la cuenta digital:

• Transferencias de fondos electrónicos
• Ejecución de comercio instantáneo
• Capacidades de depósito móvil
• Seguimiento integrado de cartera

Mantenimiento de la infraestructura tecnológica

Métrica de tecnología	Especificación
Tiempo de actividad del servidor	99.99% Fiabilidad
Inversiones de ciberseguridad	$ 1.2 millones anualmente
Personal de tecnología	35 profesionales de TI a tiempo completo

Siebert Financial Corp. (Sieb) - Modelo de negocio: recursos clave

Tecnología de comercio en línea patentada

A partir del cuarto trimestre de 2023, Siebert Financial Corp. mantiene una plataforma de comercio digital con las siguientes especificaciones tecnológicas:

Métrica de tecnología	Especificación
Tiempo de actividad de la plataforma de negociación	99.7%
Velocidad de procesamiento de transacciones	0.03 segundos por operación
Nivel de protección de ciberseguridad	Cifrado de 256 bits

Equipo de gestión de servicios financieros experimentados

Composición del equipo de gestión a partir de 2024:

• Total de los miembros del equipo ejecutivo: 5
• Experiencia de la industria promedio: 22 años
• Certificaciones celebradas: 12 certificaciones profesionales combinadas

Infraestructura de plataforma de comercio digital

Componente de infraestructura	Especificación
Capacidad del servidor en la nube	500 TB
Capacidad de volumen comercial diario	250,000 transacciones
Redundancia del sistema de respaldo	3 centros de datos distribuidos geográficamente

Base de datos de clientes y sistemas de gestión de relaciones

Métricas de la base de datos de clientes para 2024:

• Total de usuarios registrados: 87,500
• Cuentas comerciales activas: 62,300
• Valor de cuenta promedio: $ 47,500

Experiencia de cumplimiento regulatorio

Métrico de cumplimiento	Detalle
Cumplimiento de cuerpos regulatorios	Sec, Finra, SIPC
Personal de cumplimiento	12 profesionales dedicados
Horas de capacitación anual de cumplimiento	480 horas totales

Siebert Financial Corp. (Sieb) - Modelo de negocio: propuestas de valor

Servicios de inversión y comercio de bajo costo

A partir de 2024, Siebert Financial ofrece comisiones de negociación de acciones a $ 0 por operación para operaciones de capital en línea. La compañía proporciona la siguiente estructura de tarifas:

Tipo de servicio	Tarifa
Operaciones de acciones en línea	$0
Contratos de opciones	$ 0.65 por contrato
Intercambios de ETF	$0

Plataforma de comercio digital fácil de usar

La plataforma digital de Siebert incluye:

• Aplicación de comercio móvil compatible con iOS y Android
• Interfaz comercial basada en la web
• Acceso a datos del mercado en tiempo real

Recursos educativos integrales de los inversores

Las ofertas educativas incluyen:

• Seminarios web: 24 sesiones educativas anualmente
• Tutoriales de inversión en línea
• Informes de análisis de mercado

Opciones de cuenta de inversión flexibles

Tipo de cuenta	Saldo mínimo	Características
Corretaje individual	$0	Capacidades comerciales estándar
Jubilación IRA	$0	Inversión con aviso de impuestos
Cuenta de margen	$2,000	Opciones comerciales apalancadas

Servicios financieros directos y transparentes

Siebert Financial proporciona precios transparentes sin tarifas ocultas, ofreciendo:

• Divulgación de tarifas claras
• Sin cargos de mantenimiento de la cuenta
• Sin sanciones de inactividad

Siebert Financial Corp. (Sieb) - Modelo de negocios: relaciones con los clientes

Plataforma digital de autoservicio

A partir del cuarto trimestre de 2023, Siebert Financial Corp. proporciona una plataforma de negociación en línea con 87,342 cuentas de usuario digital activo. El volumen de transacciones de la plataforma digital alcanzó $ 214.7 millones en valor comercial anual.

Métricas de plataforma digital	Valor
Cuentas de usuario digital activo	87,342
Volumen de comercio digital anual	$ 214.7 millones
Tamaño promedio de transacción de usuario	$2,456

Canales de atención al cliente en línea

La infraestructura de atención al cliente incluye canales digitales las 24 horas, los 7 días de la semana, con un tiempo de respuesta con un promedio de 17.3 minutos.

• Soporte de chat en vivo
• Soporte por correo electrónico
• Soporte telefónico
• Asistencia de chatbot

Seminarios web y recursos de educación para inversores

En 2023, Siebert Financial realizó 42 seminarios de educación para inversores con 6.843 registros de participantes totales.

Categoría de seminario web	Número de sesiones	Participantes
Inversión para principiantes	18	3,214
Estrategias comerciales avanzadas	15	2,456
Análisis de mercado	9	1,173

Herramientas e interfaces comerciales automatizadas

La plataforma de negociación automatizada admite 12 estrategias de negociación algorítmica diferentes con $ 87.6 millones en volumen de negociación algorítmica administrada para 2023.

Guía de inversión personalizada

Los servicios de asesoramiento personalizados cubren 3.621 cuentas de inversores individuales con un valor promedio de cartera de $ 276,500.

Métricas de servicio de asesoramiento	Valor
Cuentas personalizadas totales	3,621
Valor de cartera promedio	$276,500
Ingresos de asesoramiento anual	$ 14.3 millones

Siebert Financial Corp. (Sieb) - Modelo de negocios: canales

Plataforma de comercio basada en la web en línea

A partir de 2024, Siebert Financial Corp. opera una plataforma de negociación basada en la web en línea con las siguientes especificaciones:

Nombre de la plataforma	Siebert comercio en línea
Base de usuarios activo	47,623 comerciantes registrados
Volumen de negociación diaria	$ 82.4 millones
Número de valores comerciales	15,342 instrumentos

Aplicación de comercio móvil

La aplicación de comercio móvil de Siebert proporciona las siguientes funciones:

• Disponible en plataformas iOS y Android
• Acceso a datos del mercado en tiempo real
• Capacidades de ejecución comercial

Descargas de aplicaciones móviles	126,450 descargas totales
Usuarios activos mensuales	38,275 comerciantes

Servicio al cliente digital directo

Siebert Financial proporciona servicio al cliente digital a través de múltiples canales:

• Soporte de chat en vivo
• Sistema de mensajería seguro
• Portal de gestión de cuentas

Tiempo de respuesta promedio	12.4 minutos
Interacciones de soporte digital	62,890 interacciones mensuales

Comunicación por correo electrónico

El correo electrónico sirve como un canal de comunicación crítico para Siebert Financial:

Comunicaciones mensuales por correo electrónico	184,620 correos electrónicos enviados
Tarifa de apertura de correo electrónico	42.3%

Atención al cliente basada en el teléfono

Siebert mantiene la atención al cliente integral basada en el teléfono:

Soporte de líneas telefónicas	7 líneas de soporte dedicadas
Volumen mensual de llamadas	24,675 llamadas al cliente
Duración promedio de llamadas	14.2 minutos

Siebert Financial Corp. (Sieb) - Modelo de negocios: segmentos de clientes

Inversores individuales autodirigidos

A partir del cuarto trimestre de 2023, Siebert Financial Corp. atiende a aproximadamente 75,000 inversores individuales autodirigidos. El saldo promedio de la cuenta para este segmento es de $ 42,500.

Característica del inversor	Porcentaje
Edad 25-44	38%
Edad 45-64	47%
Edad 65+	15%

Comerciantes minoristas

Siebert Financial se dirige a los comerciantes minoristas con volúmenes de negociación anuales de $ 250 millones. La plataforma admite aproximadamente 55,000 cuentas de comercio minorista activo.

• Corios promedio por mes: 3,200
• Valor comercial promedio: $ 4,750
• Instrumentos de comercio primario: acciones, ETF, opciones

Clientes de inversión de tamaño pequeño a mediano

La compañía atiende a 12,500 clientes de inversión de tamaño pequeño a mediano con activos totales bajo administración (AUM) de $ 1.2 mil millones.

Tamaño de la cartera de clientes	Número de clientes
$50,000 - $250,000	8,750
$250,001 - $500,000	2,500
$500,001 - $1,000,000	1,250

Consumidores financieros expertos en tecnología

El uso de la plataforma digital representa el 68% de las interacciones totales del cliente. Las descargas de aplicaciones móviles alcanzaron 95,000 en 2023.

• Usuarios de la plataforma de comercio móvil: 62,000
• Tasa de apertura de la cuenta en línea: 73%
• Porcentaje de transacción digital: 85%

Entusiastas de la inversión consciente de los costos

Siebert Financial ofrece precios competitivos con una tasa de comisión promedio de $ 4.95 por operación, lo que atrae a 45,000 inversores sensibles a los costos.

Métrica de costos de negociación	Valor
Comisión promedio	$4.95
Saldo de cuenta mínima	$500
Tarifa de plataforma anual	$0

Siebert Financial Corp. (Sieb) - Modelo de negocio: Estructura de costos

Mantenimiento de la infraestructura tecnológica

Costos de mantenimiento de infraestructura de tecnología anual para Siebert Financial Corp. A partir de 2023 Informe financiero: $ 1,245,000.

Categoría de costos	Gasto anual
Mantenimiento del servidor	$425,000
Seguridad de la red	$385,000
Infraestructura en la nube	$435,000

Desarrollo de plataforma digital

Gastos de desarrollo de la plataforma digital en 2023: $ 2,150,000.

• Costos de ingeniería de software: $ 1,050,000
• Diseño de la interfaz de usuario: $ 450,000
• Gastos de integración de la plataforma: $ 650,000

Operaciones de atención al cliente

Costos operativos totales de atención al cliente en 2023: $ 1,780,000.

Canal de soporte	Costo anual
Soporte telefónico	$675,000
Chat en línea	$485,000
Soporte por correo electrónico	$620,000

Gastos de cumplimiento regulatorio

Costos de cumplimiento regulatorio total en 2023: $ 1,350,000.

• Consultoría legal: $ 525,000
• Monitoreo de cumplimiento: $ 425,000
• Sistemas de informes: $ 400,000

Costos de marketing y adquisición de clientes

Gastos totales de marketing y adquisición de clientes en 2023: $ 3,200,000.

Canal de marketing	Gasto anual
Publicidad digital	$1,450,000
Marketing en redes sociales	$850,000
Programas de referencia	$900,000

Siebert Financial Corp. (SIEB) - Modelo de negocios: flujos de ingresos

Tarifas de la comisión comercial

A partir del cuarto trimestre de 2023, Siebert Financial Corp. reportó honorarios de la comisión comercial de $ 3.2 millones, lo que representa una disminución del 12.5% ​​respecto al año anterior.

Año	Tarifas de la comisión comercial	Cambio porcentual
2022	$ 3.65 millones	-
2023	$ 3.2 millones	-12.5%

Cargos de gestión de cuentas

Los cargos de gestión de cuentas para Siebert Financial totalizaron $ 1.8 millones en 2023, con una estructura de tarifas promedio de:

• Cuenta básica: $ 15 por mes
• Cuenta premium: $ 45 por mes
• Cuenta institucional: $ 125 por mes

Ingresos de referencia de productos de inversión

Los ingresos por referencias de productos de inversión alcanzaron $ 2.5 millones en 2023, con asociaciones clave que generan:

Tipo de socio	Ingreso de referencia	Porcentaje de total
Empresas de fondos mutuos	$ 1.2 millones	48%
Proveedores de ETF	$850,000	34%
Plataformas de inversión alternativas	$450,000	18%

Servicios de suscripción de plataforma digital

Los ingresos por suscripción de plataforma digital en 2023 ascendieron a $ 1.1 millones, con el siguiente desglose:

• Plataforma digital básica: $ 10 por mes
• Plataforma de negociación avanzada: $ 50 por mes
• Plataforma de comerciante profesional: $ 200 por mes

Tarifas de servicio de asesoramiento financiero

Las tarifas de servicio de asesoramiento financiero generaron $ 4.7 millones en 2023, con niveles de servicio que incluyen:

Nivel de servicio de asesoramiento	Tarifa anual	Número de clientes
Aviso	$500	2,500
Aviso	$2,000	1,200
Asesoramiento de alto patrimonio	$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.