Siebert Financial Corp. (SIEB): Business Model Canvas [Jan-2025 Mis à jour]

Plongez dans le monde complexe de Siebert Financial Corp. (SIEB), une maison de courtage en ligne dynamique qui révolutionne l'investissement numérique grâce à son modèle commercial innovant. En mélangeant parfaitement une technologie de pointe, des services de négociation à faible coût et des ressources complètes des investisseurs, Siebert a creusé un créneau unique dans le paysage des services financiers concurrentiels. Leur approche stratégique combine des plates-formes numériques conviviales avec des options d'investissement flexibles, ciblant les investisseurs technophiles et conscients des coûts à la recherche d'une expérience commerciale rationalisée et transparente qui rend la prise de décision financière individuelle.

Siebert Financial Corp. (SIEB) - Modèle d'entreprise: partenariats clés

TD Ameritrade Technology and Brokerage Platform Intégration

Siebert Financial Corp. maintient un partenariat stratégique avec TD Ameritrade pour la technologie et l'intégration des plateformes de courtage. En 2024, le partenariat permet:

Métrique de partenariat	Détails spécifiques
Intégration de la plate-forme	Synchronisation technologique complète avec l'infrastructure commerciale de TD Ameritrade
Exécution commerciale	Accès aux données du marché en temps réel et aux capacités d'exécution
Durée du partenariat	Relation collaborative en cours depuis 2019

Fournisseurs de technologies bancaires et financières

Siebert Financial Corp. collabore avec plusieurs fournisseurs de technologies financières:

• Apex Clearing Corporation
• Technologies à plaid
• Fournisseurs de solutions de sécurité fintech

Sociétés de recherche en investissement et d'analyse de données

Partenaire de recherche	Portée de collaboration	Investissement annuel
Morningstar	Recherche d'investissement et analyse des données	$475,000
Bloomberg Terminal	Données et analyses du marché financier	24 000 $ par terminal

Collaborateurs de plate-forme de trading en ligne

Les partenariats stratégiques avec les plateformes de trading en ligne comprennent:

• Courtiers interactifs
• E * Trade Financial
• Plateformes numériques de Charles Schwab

Conformité réglementaire et partenaires des services juridiques

Partenaire de conformité	Services fournis	Coût annuel d'engagement
Consulting de conformité FINRA	Services de conseil réglementaire	$250,000
Consultants réglementaires de la SEC	Conformité au réglementation des valeurs mobilières	$180,000

Siebert Financial Corp. (SIEB) - Modèle d'entreprise: Activités clés

Services de courtage à prix réduit en ligne

Siebert Financial Corp. fournit des services de courtage en ligne avec les mesures clés suivantes:

Métrique de service	Valeur
Plates-formes de trading	Interfaces de trading Web et mobile
Tarifs de commission	0 $ par action / ETF Trade
Compte minimum	$0

Gestion des plateformes de trading d'investissement

Les capacités de plate-forme comprennent:

• Accès aux données du marché en temps réel
• Outils de cartographie avancés
• Échange d'options et de dérivés
• Systèmes de trading automatisé

Conseil financier et éducation aux investisseurs

Ressource éducative	Disponibilité
Webinaires	Mensuel
Rapports de recherche	Analyse du marché quotidien
Ateliers d'investissement	Sessions en ligne trimestrielles

Gestion et exécution du compte numérique

Caractéristiques du compte numérique:

• Transferts de fonds électroniques
• Exécution du commerce instantané
• Capacités de dépôt mobile
• Suivi de portefeuille intégré

Maintenance des infrastructures technologiques

Métrique technologique	Spécification
Time de disponibilité du serveur	Fiabilité de 99,99%
Investissements en cybersécurité	1,2 million de dollars par an
Personnel technologique	35 professionnels de l'informatique à temps plein

Siebert Financial Corp. (SIEB) - Modèle d'entreprise: Ressources clés

Technologie de trading en ligne propriétaire

Depuis le quatrième trimestre 2023, Siebert Financial Corp. maintient une plate-forme de trading numérique avec les spécifications technologiques suivantes:

Métrique technologique	Spécification
Time de disponibilité de la plate-forme de négociation	99.7%
Vitesse de traitement des transactions	0,03 seconde par commerce
Niveau de protection de la cybersécurité	Cryptage 256 bits

Équipe de gestion des services financiers expérimentés

Composition de l'équipe de gestion à partir de 2024:

• Membres totaux de l'équipe de direction: 5
• Expérience moyenne de l'industrie: 22 ans
• Certifications organisées: 12 certifications professionnelles combinées

Infrastructure de plate-forme de trading numérique

Composant d'infrastructure	Spécification
Capacité du serveur cloud	500 To
Capacité de volume de trading quotidien	250 000 transactions
Redondance du système de sauvegarde	3 centres de données distribués géographiquement

Base de données client et systèmes de gestion des relations

Métriques de la base de données clients pour 2024:

• Total des utilisateurs enregistrés: 87 500
• Comptes de négociation actifs: 62 300
• Valeur du compte moyen: 47 500 $

Expertise en matière de conformité réglementaire

Métrique de conformité	Détail
Conformité des organismes de réglementation	Sec, finra, sipc
Personnel de conformité	12 professionnels dévoués
Heures de formation annuelles de conformité	480 heures au total

Siebert Financial Corp. (SIEB) - Modèle d'entreprise: propositions de valeur

Services d'investissement et de trading à faible coût

En 2024, Siebert Financial propose des commissions de négociation en actions à 0 $ par échange pour les transactions en ligne. L'entreprise fournit la structure des frais suivante:

Type de service	Frais
Trades d'actions en ligne	$0
Options Contrats	0,65 $ par contrat
Trades ETF	$0

Plateforme de trading numérique conviviale

La plate-forme numérique de Siebert comprend:

• Application de trading mobile compatible avec iOS et Android
• Interface commerciale basée sur le Web
• Accès aux données du marché en temps réel

Ressources complètes de l'éducation des investisseurs

Les offres éducatives comprennent:

• Webinaires: 24 séances éducatives chaque année
• Tutoriels d'investissement en ligne
• Rapports d'analyse du marché

Options de compte d'investissement flexible

Type de compte	Équilibre minimum	Caractéristiques
Courtage individuel	$0	Capacités de trading standard
Retraite IRA	$0	Investissement d'impôt pour les impôts
Compte de marge	$2,000	Options de trading à effet de levier

Services financiers directs et transparents

Siebert Financial fournit des prix transparents sans frais cachés, offrant:

• Divulgation des frais clairs
• Aucun frais de maintenance du compte
• Aucune pénalité d'inactivité

Siebert Financial Corp. (SIEB) - Modèle d'entreprise: relations avec les clients

Plate-forme numérique en libre-service

Au quatrième trimestre 2023, Siebert Financial Corp. fournit une plate-forme de trading en ligne avec 87 342 comptes d'utilisateurs numériques actifs. Le volume des transactions de plate-forme numérique a atteint 214,7 millions de dollars en valeur de négociation annuelle.

Métriques de plate-forme numérique	Valeur
Comptes d'utilisateurs numériques actifs	87,342
Volume de trading numérique annuel	214,7 millions de dollars
Taille moyenne des transactions utilisateur	$2,456

Canaux de support client en ligne

L'infrastructure de support client comprend des canaux numériques 24/7 avec un temps de réponse en moyenne de 17,3 minutes.

• Support de chat en direct
• Assistance par e-mail
• Support téléphonique
• Assistance au chatbot

Webinaires et ressources de l'éducation des investisseurs

En 2023, Siebert Financial a dirigé 42 webinaires de l'éducation des investisseurs avec 6 843 inscriptions au total des participants.

Catégorie de webinaire	Nombre de sessions	Participants
Investissement pour débutants	18	3,214
Stratégies de trading avancées	15	2,456
Analyse de marché	9	1,173

Outils de trading automatisés et interfaces

La plateforme de trading automatisée prend en charge 12 stratégies de trading algorithmiques différentes avec 87,6 millions de dollars en volume de négociation algorithmique géré pour 2023.

Conseils d'investissement personnalisés

Les services de conseil personnalisés couvrent 3 621 comptes d'investisseurs individuels avec une valeur de portefeuille moyenne de 276 500 $.

Métriques de service consultatif	Valeur
Comptes personnalisés totaux	3,621
Valeur de portefeuille moyenne	$276,500
Revenus consultatifs annuels	14,3 millions de dollars

Siebert Financial Corp. (SIEB) - Modèle d'entreprise: canaux

Plateforme de trading Web en ligne

En 2024, Siebert Financial Corp. exploite une plateforme de trading Web en ligne avec les spécifications suivantes:

Nom de la plate-forme	Trading en ligne de Siebert
Base d'utilisateurs actifs	47 623 commerçants enregistrés
Volume de trading quotidien	82,4 millions de dollars
Nombre de titres négociables	15 342 instruments

Application de trading mobile

L'application de trading mobile de Siebert fournit les fonctionnalités suivantes:

• Disponible sur les plateformes iOS et Android
• Accès aux données du marché en temps réel
• Capacités d'exécution commerciales

Téléchargements d'applications mobiles	126 450 téléchargements totaux
Utilisateurs actifs mensuels	38 275 commerçants

Service client numérique direct

Siebert Financial fournit un service client numérique via plusieurs canaux:

• Support de chat en direct
• Système de messagerie sécurisé
• Portail de gestion des comptes

Temps de réponse moyen	12,4 minutes
Interactions de support numérique	62 890 interactions mensuelles

Communication par e-mail

Le courrier électronique sert de canal de communication critique pour Siebert Financial:

Communications par e-mail mensuelles	184 620 e-mails envoyés
Taux d'ouverture par e-mail	42.3%

Support client téléphonique

Siebert maintient un support client téléphonique complet:

Prise en charge des lignes téléphoniques	7 lignes de support dédiées
Volume d'appel mensuel	24 675 appels clients
Durée d'appel moyenne	14,2 minutes

Siebert Financial Corp. (SIEB) - Modèle d'entreprise: segments de clients

Investisseurs individuels autonomes

Depuis le quatrième trimestre 2023, Siebert Financial Corp. dessert environ 75 000 investisseurs individuels autonomes. Le solde du compte moyen pour ce segment est de 42 500 $.

Caractéristique des investisseurs	Pourcentage
25-44 ans	38%
45 à 64 ans	47%
65 ans et plus	15%

Commerçants de détail

Siebert Financial cible les commerçants de détail avec des volumes de trading annuels de 250 millions de dollars. La plate-forme prend en charge environ 55 000 comptes de commerce de détail actifs.

• Mélanges moyens par mois: 3200
• Valeur du commerce médian: 4 750 $
• Instruments de trading primaires: actions, ETF, options

Clients d'investissement de petite à moyenne taille

La société dessert 12 500 clients d'investissement de petite à moyenne taille avec un actif total sous gestion (AUM) de 1,2 milliard de dollars.

Taille du portefeuille client	Nombre de clients
$50,000 - $250,000	8,750
$250,001 - $500,000	2,500
$500,001 - $1,000,000	1,250

Consommateurs financiers avertis de la technologie

L'utilisation de la plate-forme numérique représente 68% des interactions totales du client. Les téléchargements d'applications mobiles ont atteint 95 000 en 2023.

• Utilisateurs de la plate-forme de trading mobile: 62 000
• Taux d'ouverture du compte en ligne: 73%
• Pourcentage de transaction numérique: 85%

Antariens d'investissement soucieux des coûts

Siebert Financial offre des prix compétitifs avec un taux de commission moyen de 4,95 $ par commerce, attirant 45 000 investisseurs sensibles aux coûts.

Métrique des coûts de trading	Valeur
Commission moyenne	$4.95
Solde de compte minimum	$500
Frais de plate-forme annuelle	$0

Siebert Financial Corp. (SIEB) - Modèle d'entreprise: Structure des coûts

Maintenance des infrastructures technologiques

Coûts de maintenance des infrastructures technologiques annuelles pour Siebert Financial Corp. à partir de 2023 Rapport financier: 1 245 000 $.

Catégorie de coûts	Dépenses annuelles
Maintenance du serveur	$425,000
Sécurité du réseau	$385,000
Infrastructure cloud	$435,000

Développement de plate-forme numérique

Dépenses de développement de plate-forme numérique en 2023: 2 150 000 $.

• Coûts d'ingénierie logicielle: 1 050 000 $
• Conception de l'interface utilisateur: 450 000 $
• Dépenses d'intégration de la plate-forme: 650 000 $

Opérations de support client

Total des coûts d'exploitation du support client en 2023: 1 780 000 $.

Canal de support	Coût annuel
Support téléphonique	$675,000
Chat en ligne	$485,000
Assistance par e-mail	$620,000

Frais de conformité réglementaire

Total des coûts de conformité réglementaire en 2023: 1 350 000 $.

• Conseil juridique: 525 000 $
• Surveillance de la conformité: 425 000 $
• Systèmes de rapport: 400 000 $

Coûts de marketing et d'acquisition des clients

Total des dépenses de marketing et d'acquisition des clients en 2023: 3 200 000 $.

Canal de marketing	Dépenses annuelles
Publicité numérique	$1,450,000
Marketing des médias sociaux	$850,000
Programmes de référence	$900,000

Siebert Financial Corp. (SIEB) - Modèle d'entreprise: Strots de revenus

Frais de commission commerciale

Au quatrième trimestre 2023, Siebert Financial Corp. a déclaré des frais de commission commerciale de 3,2 millions de dollars, ce qui représente une baisse de 12,5% par rapport à l'année précédente.

Année	Frais de commission commerciale	Pourcentage de variation
2022	3,65 millions de dollars	-
2023	3,2 millions de dollars	-12.5%

Frais de gestion des comptes

Les frais de gestion des comptes pour Siebert Financial ont totalisé 1,8 million de dollars en 2023, avec une structure de frais moyenne de:

• Compte de base: 15 $ par mois
• Compte premium: 45 $ par mois
• Compte institutionnel: 125 $ par mois

Revenus de référence des produits d'investissement

Les revenus de référence des produits d'investissement ont atteint 2,5 millions de dollars en 2023, avec des partenariats clés générant:

Type de partenaire	Revenus de référence	Pourcentage du total
Sociétés de fonds communs de placement	1,2 million de dollars	48%
Fournisseurs de FNB	$850,000	34%
Plateformes d'investissement alternatives	$450,000	18%

Services d'abonnement à la plate-forme numérique

Les revenus d'abonnement à la plate-forme numérique en 2023 s'élevaient à 1,1 million de dollars, la ventilation suivante:

• Plateforme numérique de base: 10 $ par mois
• Plateforme de négociation avancée: 50 $ par mois
• Plateforme de trader professionnel: 200 $ par mois

Frais de service de conseil financier

Les frais de service de conseil financier ont généré 4,7 millions de dollars en 2023, avec des niveaux de service, notamment:

Niveau de service consultatif	Frais annuels	Nombre de clients
Avis de base	$500	2,500
Conseil complet	$2,000	1,200
Avis de valeur nette élevée	$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.