Full text of FIRST HORIZON ADVISORS, INC.'s X-17A-5 filed 2022-03-01 (period 2021-12-31). Broker-dealer annual report from SEC EDGAR — readable, searchable, and available as markdown for AI agents.
{0}------------------------------------------------  (A Wholly Owned Subsidiary of First Horizon Bank) Statement of Financial Condition December 31, 2021 (With Report of Independent Registered Public Accounting Firm Thereon) {1}------------------------------------------------ ## **FIRST HORIZON ADVISORS, INC.** (A Wholly Owned Subsidiary of First Horizon Bank) Statement of Financial Condition December 31, 2021 #### **Assets:** | Cash and cash equivalent: | | |------------------------------------------------------------------------------------|------------------| | Cash and money market funds | \lt;br>22,184,605 | | Securities purchased under agreement to resell with First Horizon Bank | 27,653,524 | | Receivables from brokers | 263,517 | | Furniture, equipment and leases, net | 4,555,430 | | Prepaid expenses and other assets | 5,716,480 | | Deferred tax assets, net | 274,946 | | Total assets | \lt;br>60,648,502 | | | | | Liabilities and Shareholder's Equity: | | | Liabilities: | | | Accounts payable and accrued expenses | \lt;br>6,404,650 | | Lease liabilities | 3,283,940 | | Due to First Horizon Bank, net | 204,369 | | Total liabilities | 9,892,959 | | Shareholder's equity: | | | Common stock, \$12.50 par value – authorized, issued, and outstanding 2,000 shares | 25,000 | | Additional paid‐in capital | 3,784,535 | | Retained earnings | 53,516,738 | | Accumulated other comprehensive loss, net | (6,570,730) | | Total shareholder's equity | 50,755,543 | | Total liabilities and shareholder's equity | \lt;br>60,648,502 | | | | See accompanying notes to the Statement of Financial Condition. {2}------------------------------------------------ # **FIRST HORIZON ADVISORS, INC.** (A Wholly Owned Subsidiary of First Horizon Bank) Notes to Statement of Financial Condition December 31, 2021 # *1. Organization and Significant Accounting Policies* # *a. Organization and Operations* First Horizon Advisors, Inc. (the Company), a wholly owned subsidiary of First Horizon Bank, was formed for the purpose of providing securities brokerage services to First Horizon Bank customers. Its ultimate parent company is First Horizon Corporation (FHN). The Company is registered with the Securities and Exchange Commission and is a member of the Financial Industry Regulatory Authority. The Company clears customer transactions through National Financial Services Limited Liability Corporation (NFS) on a fully disclosed basis. The Company has agreed to indemnify NFS f…Read the full text as markdown