Siebert Reports Fourth Quarter and Full Year 2021 Financial Results

Siebert Financial Corp. (NASDAQ: SIEB) (“Siebert”), a mission-driven provider of financial services, today reported financial results for the full year ended December 31, 2021.

Full Year 2021 Financial Highlights

• Revenue of $67.5 million, up 23% from the prior year period
• Operating income of $6.8 million, up 111% from the prior year period
• Operating margin of 10.0%, an improvement compared to 5.8% in the prior year period
• Net income of $5.0 million, up 69% from the prior year period
• Earnings per share of $0.16 increased 60% from $0.10 in the prior year period
• Total assets under management of $17.3 billion, an increase from $16.2 billion from the end of 2020

Recent Business Highlights

• Completed previously announced strategic investment in Tigress Financial Partners and launched RISE Financial Services, a woman-owned, diverse financial services firm, extending Siebert’s 50+ year history of diversity, equity, and inclusion which began with the legendary Muriel Siebert. RISE Prime, a division of RISE Financial Services, specializes in offering a comprehensive suite of prime brokerage services aligned with the growing mission-driven Environmental, Social and Governance (ESG) initiatives of institutional investors.
• Completed a minority investment in Hedge Connection, the only woman-owned FinTech company offering a capital introduction solution platform for hedge funds. Hedge Connection is democratizing the capital raising process so that all managers, including talented minority and woman emerging mangers, can gain access to institutional investors and break down barriers that impede growth.
• Purchased office building in Miami, Florida to serve as the headquarters for Siebert. Miami is continuing to grow as a major hub for financial companies, and the building purchase strengthens Siebert’s presence in the Greater Miami area following the opening of Siebert’s Miami office in 2019.

Management Commentary

“Our financial results for 2021 reflect the continued execution of our strategic objectives, which has established a solid foundation for Siebert in 2022,” said Gloria E. Gebbia, controlling shareholder and board member of Siebert. “Siebert is a mission-driven financial services company, and we continue to modernize our offerings to empower our clients’ success while helping narrow the wealth gap through inclusive investing. The recent rebranding of RISE along with our minority investment in Hedge Connection further strengthens our commitment and positions Siebert as a strategic partner to institutional clients when diversity and access to best-in-class prime brokerage services matter.”