# FINANCIAL GOAL SECURITIES, INC. X-17A-5/A (2022-02-16) — Broker-dealer annual report - Company: FINANCIAL GOAL SECURITIES, INC. - Form: X-17A-5/A - Filed: 2022-02-16 - Period: 2021-12-31 - Accession: 0000808472-22-000002 - CIK: 808472 - File #: 8-37151 - Type: Broker-dealer - Material weakness: No - Auditor: Vicente Alvarez at Alvarez & Associates, Inc. - Auditor location: Northridge, CA - Contact: Bryan Kocen - Phone: 7605673641 - Email: bryan@kfginc.com - Website: kfginc.com - Signed by: Bryan Kocen (President) Original filing: https://www.sec.gov/Archives/edgar/data/808472/000080847222000002/FGSAUDIT2021.pdf --- {0}------------------------------------------------ Financial Goal Securities, Inc. Report Pursuant to SEC Rule 17a-5 (d) Financial Statements For the Year Ended December 31, 2021 {1}------------------------------------------------ ### CONTENTS | Table of Contents
Annual Audited Report Form X-17 A-5 Part III
Report of Independent Registered Public Accounting Firm | 1
2-4
5 | |--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------------------------| | Financial Statements:
Statement of Financial Condition
Statement of Operations
Statement of Changes in Stockholder's Equity
Statement of Cash Flows
Notes to Financial Statements | 6
7
8
9
10-13 | | Additional Information:
Schedule I: Computation of Net Capital Pursuant to SEC Rule 15c3-1
Schedule II: Computation for Determination of the Reserve Requirements
and Information Relating to Possession or Control
Requirements for Brokers and Dealers Pursuant to SEC Rule 15c3-3 | 14
15 | | Report of Independent Registered Public Accounting Firm | 16 | | Assertions Regarding Exemption Provisions
Pursuant to Provisions of 17 C.F.R. § 15c3-3(k) | 17 | {2}------------------------------------------------ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 | OMB APPROVAL | | |---------------------------|--| | OMB Number: 3235-0123 | | | Expires: Oct. 31, 2023 | | | Estimated average burden | | | hours per response:
12 | | | | | # ANNUAL REPORTS FORM X-17A-S PART III | SEC FILE NUMBER | |-----------------| | 8-37151 | FACING PAGE Information Required Pursuant to Rules 17a-5, 17a-12, and lSa-7 under the Securities Exchange Act of 1934 FILING FOR THE PERIOD BEGINNING 01/01/21 MM/DD/VY AND ENDING 12/31/21 MM/DD/YY A. REGISTRANT IDENTIFICATION NAME OF FIRM: Financial Goal Securities, Inc. TYPE OF REGISTRANT (check all applicable boxes): Iii Broker-dealer 0 Security-based swap dealer o Check here if respondent is also an aTC derivatives dealer o Major security-based swap participant ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use a P.O. box no.) 35-900 Bob Hope Drive, Suite 202 (No. and Street) Rancho Mirage CA 92270 (City) (State) (Zip Code) PERSON TO CONTACT WITH REGARD TO THIS FILING Bryan S. Kocen 760-324-4015 bryan@kfginc.com (Name) (Area Code - Telephone Number) (Email Address) B. ACCOUNTANT IDENTIFICATION INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing\* Alvarez & Associates, Inc. (Name - if individual, state last, first, and middle name) 9221 Corbin Avenue, Suite 165 Northridge California 91324 (Address) (City) (State) (Zip Code) 10/16/2018 6517 rle ,f •• ,1"""00 with PCAQSIlIf oppll",bl.1 FOR OFFICIAL USE ONLY (PCADS •• """"," Nomb", If OPPII"'bl'l l • Claims for exemption from the requirement that the annual reports be covered by the reports of an independent public accountant must be supported by a statement of facts and circumstances relied on as the basis of the exemption. See 17 CFR 240.17a-5(e)(1)(ii), if applicable. Persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. {3}------------------------------------------------ #### OATH OR AFFIRMATION | I, Bryan S. Kcoen | , swear (or affirm) that, to the best of my knowledge and belief, the | |----------------------------------------------------------------------------|----------------------------------------------------------------------------------------| | financial report pertaining to the firm of Financial Goal Securities. Inc. | , as of | | December 31 | , 2~ is true and correct. I further swear (or affirm) that neither the company nor any | | | | partner, officer, director, or equivalent person, as the case may be, has any proprietary interest in any account classified solely as that of a customer. ![](_page_3_Picture_3.jpeg) Signature: Title: Notary Public ### This filing·· contains (check all applicable boxes): - ~ (a) Statement of financial condition. - o (b) Notes to consolidated statement of financial condition. - ~ (c) Statement of income (loss) or, if there is other comprehensive income in the period(s) presented, a statement of comprehensive income (as defined in § 210.1-02 of Regulation S-X). - ~ (d) Statement of cash flows. - iii (e) Statement of changes in stockholders' or partners' or sole proprietor's equity. - o (f) Statement of changes in liabilities subordinated to claims of creditors. - ~ (g) Notes to consolidated financial statements. - ~ (h) Computation of net capital under 17 CFR 240.15c3-1 or 17 CFR 240.18a-1, as applicable. - o (i) Computation of tangible net worth under 17 CFR 240.18a-2. - ~ (j) Computation for determination of customer reserve requirements pursuant to Exhibit A to 17 CFR 240.15c3-3. - o (k) Computation for determination of security-based swap reserve requirements pursuant to Exhibit B to 17 CFR 240.15c3-3 or Exhibit A to 17 CFR 240.18a-4, as applicable. - o (I) Computation for Determination of PAB Requirements under Exhibit A to § 240.15c3-3. - ~ (m) Information relating to possession or control requirements for customers under 17 CFR 240.15c3-3. - o (n) Information relating to possession or control requirements for security-based swap customers under 17 CFR 240.15c3-3(p)(2) or 17 CFR 240.18a-4, as applicable. - ~ (0) Reconciliations, including appropriate explanations, of the FOCUS Report with computation of net capital or tangible net worth under 17 CFR 240.15c3-1, 17 CFR 240.18a-1, or 17 CFR 240.18a-2, as applicable, and the reserve requirements under 17 CFR 240.15c3-3 or 17 CFR 240.18a-4, as applicable, if material differences exist, or a statement that no material differences exist. - o (p) Summary of financial data for subsidiaries not consolidated in the statement of financial condition. - ~ (q) Oath or affirmation in accordance with 17 CFR 240.17a-5, 17 CFR 240.17a-12, or 17 CFR 240.18a-7, as applicable. - o (r) Compliance report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable. - ~ (s) Exemption report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable. - o (t) Independent public accountant's report based on an examination of the statement of financial condition. - ~ (u) Independent public accountant's report based on an examination of the financial report or financial statements under 17 CFR 240.17a-5, 17 CFR 240.18a-7, or 17 CFR 240.17a-12, as applicable. - o (v) Independent public accountant's report based on an examination of certain statements in the compliance report under 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable. - iii (w) Independent public accountant's report based on a review of the exemption report under 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable. - o (x) Supplemental reports on applying agreed-upon procedures, in accordance with 17 CFR 240.15c3-1e or 17 CFR 240.17a-12, as applicable. - o (y) Report describing any material inadequacies found to exist or found to have existed since the date of the previous audit, or a statement that no material inadequacies exist, under 17 CFR 240.17a-12(k). iii (z) Other: \_S\_IP\_C \_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ \_ - - \*\*To request confidential treatment of certain portions of this filing, see 17 CFR 240.17a-5(e)(3) or 17 CFR 240.18a-7(d)(2), as applicable. {4}------------------------------------------------ | | JURAT | |-----------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| | the truthfulness, accuracy, or validity of that document. | A notary public or other officer completing this certificate verifies only the identity of
the individual who signed the document to which this certificate is attached, and not | | State of California
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Julio RAMIREZ
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M Comm. Ex ires Jan. 2, 2024 | | OPTIONAL INFORMATION | INSTRUCTIONS | | DESCRIPTION OF THE ATTACHED DOCUMENT
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' | The Vlordmg of al/ Jurat:> completed in California aner January I, 2015 must be in tlie fonn
as sel forlh within this Jurat There are no exceptions If a Jural 10 be compleled does not
fol/ow this form, Ihe nolary must correcllhe vemlage by using a jural stamp containing the
correclwording or aNa ching a separale jural form such as tllis one witli does contain the
proper lYording. In addition, Ihe notary must require an oath or affirmation from llie
documenl signer regarding the trolhfulness of the contents of the document The
document must be signed AFTER Ihe oath or affinnation. If the documenl was previously
signed, it must be re-signed in fronl of Ihe nolary public during Ihe jurat process. | | (Tllie ordesc~~-;;;ent)
(Tille or description (If aHached document continued) | • State and county information must be the state and county where the
document signer(s) personally appeared before the notary public.
Date of notarization must be the date the signer(s) personally
I
appeared which must also be the same date the jurat process is | | Number of Pages _
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_
_ _ | completed
• Print the name(s) of the document signer(s) who personally appear at
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office of the county clerk
• The notary seal impreSSion must be clear and photographically
reproducible. Impression must not cover text or lines, If seal impression | | | smudges, re-seal if a sufficient area permits, otherwise complete a
different jurat form .
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Additional information Is not required but could help
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different document. | 2015 Version 'tI'NW NotaryC!asses com 800-873-9365 {5}------------------------------------------------ ![](_page_5_Picture_0.jpeg) ### REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To Those Charged with Governance and the Stockholder of Financial Goal Securities, Inc.: ### Opinion on the Financial Statements We have audited the accompanying statement of financial condition of Financial Goal Securities, Inc. (the "Company") as of December 31, 2021, the related statements of operations, changes in stockholder's equity, and cash flows for the year then ended, and the related notes (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2021, and the results of its operations and its cash flows for the year then ended, in conformity with accounting principles generally accepted in the United States. ### Basis for Opinion These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on the Company's financial statements based on our audit. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (tlPCAOB") and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB. We conducted our audit in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. Our audit included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audit also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audit provides a reasonable basis for our opinion. ### Supplemental Information The information contained in Schedules I and II ("Supplemental Information") has been subjected to audit procedures performed in conjunction with the audit of the Company's financial statements. The Supplemental Information is the responsibility of the Company's management. Our audit procedures included determining whether the Supplemental Information reconciles to the financial statements or the underlying accounting and other records, as applicable, and performing procedures to test the completeness and accuracy of the information presented in the Supplemental Information. In forming our opinion on the Supplemental Information, we evaluated whether the Supplemental Information, including its form and content is presented in conformity with 17 C.F.R. § 240. 17a·5. In our opinion, Schedules I and II are fairly stated, in all material respects, in relation to the financial statements taken as a whole. We have served as the Company's auditor since 2018. Northridge, California January 18, 2022 9221 Corbin Avenue Suite 165 ... Northridge, California 91324 n' 800.848.0008 • Chicago, Dallas, Los Angeles, New York, San Francisco, Seattle {6}------------------------------------------------ #### **FINANCIAL GOAL SECURITIES,** INC. STATEMENT OF FINANCIAL CONDITION ### DECEMBER 31,2021 ### ASSETS | Cash in bank | \$ 16,728 | |-------------------------|------------| | Concessions receivable | 54,884 | | Advances to stockholder | 85,194 | | Prepaid Income Taxes | 250 | | Prepaid fidelity bond | 779 | | Deposit -
CRD | 417 | | Total assets | \$ 158,252 | #### LIABILITIES AND STOCKHOLDER'S EQUITY | 648 | |-----------| | | | | | | | | | | | | | | | 157,604 | | \$158,252 | | \$ | The accompanying notes are an integral part of these financial statements, {7}------------------------------------------------ ### FINANCIAL GOAL SECURITIES, INC. STATEMENT OF OPERATIONS #### YEAR ENDED DECEMBER 31,2021 | Revenues: | | | |------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------------------------------------------------------|--------------| | Concessions -
DPP | | \$ 537,330 | | Due diligence fees | | 99,748 | | Interest | | 1.025 | | Total revenues
Operating expenses:
Salaries and commissions
Professional fees
Payroll taxes
Regulatory assessments
SIPC assessments
Overhead reimbursement
Other | \$ 543,564
23,586
16,185
11,219
800
56,845
2.401 | 638,103 | | Total expenses | | 654.600 | | Loss before income taxes | | (16,497) | | Income taxes | | 800 | | Net Loss | | \$ ( 17,297) | The accompanying notes are an Integral part of these financial statements. {8}------------------------------------------------ #### FINANCIAL GOAL SECURITIES, INC. STATEMENT OF CHANGES IN STOCKHOLDER'S EQUITY #### YEAR ENDED DECEMBER 31,2021 | Balance at beginning | Common
Stock | Additional
Paid-In
Capital | Retained
Ea[nings | Total | |-------------------------------------------------|-----------------|----------------------------------|----------------------|-----------| | of year | \$10,000 | \$ 22,833 | \$142,068 | \$174,901 | | Net loss for the year ended
December 31,2021 | | | (17.297) | ( 17.297) | | Balance at end of year | \$10.000 | \$~ | \$124.771 | \$l~HUl~ | The accompanying notes are an integral part of this financial statement. {9}------------------------------------------------ #### FINANCIAL GOAL SECURITIES. INC. STATEMENT OF CASH FLOWS INCREASE (DECREASE) IN CASH ### YEAR ENDED DECEMBER 31, 2021 | Cash flows from operating activities:
Net loss
Adjustments to reconcile net loss to
net cash used In operating activities:
\$
51,116
Decrease in concessions receivable
Increase In prepaids and deposit
(
538)
35,550
Decrease in advances to stockholder
( 70,200)
Decrease in accounts payable
( 2.013)
Decrease in income taxes payable | \$ (17,297) | | | |------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------|--|--| | Total adjustments | 13.915 | | | | Net cash flows used in operating activities | ( 3,382) | | | | Cash flows from investing activities | | | | | Cash flows from financing activities | | | | | Net decrease in cash | ( 3,382) | | | | Cash at beginning of year | 20.110 | | | | Cash at end of year | 16,728
\$ | | | | SUPPLEMENTAL CASH INFORMATION | | | | | Cash payments for: | | |--------------------|-------------| | Income taxes | 3.063
\$ | | Interest expense | \$_-- | | | | The accompanying notes are an integral part of these financial statements. {10}------------------------------------------------ #### FINANCIAL GOAL SECURITIES, INC. NOTES TO FINANCIAL STATEMENTS #### DECEMBER 31,2021 #### (1) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES #### Nature of Business The Company is a registered broker-dealer incorporated under the laws of the State of California maintaining Its main office in Rancho Mirage, California, with a branch office in San Diego, California. The Company Is a member of FINRA and the SIPC. The Company is in the business of seiling private placements and other services. #### Method of Accounting The Company maintains its books and records on the accrual basis of accounting. #### Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles requires the use of management's estimates. Actual results could differ from those estimates and such differences could be material. #### Revenue Recognition The Company earns Concessions fees and Due diligence fees from its private placements. Concessions fees and Due diligence fees are recognized according to the terms of the customer agreement, at the closing date of the private placement transaction, which includes the customer's full payment. The Company earns ongoing minor Concessions fees and Due diligence fees throughout the private placement Investment period. These are recognized in the period received, due to material uncertainties beforehand which represent a variable consideration constraint. #### Concessions Receivable Concessions receivable are stated at face amount with no allowance for doubtful accounts. An allowance for doubtful accounts Is not considered necessary, because probable uncollectible accounts are immaterial. {11}------------------------------------------------ ### FINANCIAL GOAL SECURITIES, INC. NOTES TO FINANCIAL STATEMENTS, CONTINUED ### DECEMBER 31,2021 ### (2) PROVISION FOR INCOME TAXES The provision for income taxes consists of the following: | | Federal | California | Total | |---------------------|---------|------------|-----------| | Current
Deferred | \$ | \$ 800 | 800
\$ | | Total | | | | Deferred taxes are accounted for according to current standards which use an asset and liability approach in recognizing timing differences. This approach requires the recognition of deferred tax liabilities and assets for the expected future tax consequences of such timing differences. Timing differences include the use of the cash basis for tax purposes and accrual basis for accounting purposes and the recognition of net operating loss carry-forwards. There were no material deferred tax items as of December 31,2021. The Company's Federal and California tax returns are subject to examination for three and four years, respectively, subsequent to their being filed. ### (3) RELATED PARTY TRANSACTIONS The Company had entered into a one-year expense-sharing agreement with a related corporation, whereby the Company secures necessary office space, support staff, equipment, telephone and utilities from the affiliated corporation which are included in a monthly payment of \$5,215.84 through June 30, 2022. A new agreement may be renewed annually. At December 31, 2021 nothing was due. The Company also pays commissions to two independent contractors, for services performed, one of whom is a parent of the shareholder of the Corporation. The agreement remains in effect until July 31, 2022, and may be renewed annually thereafter. Advances to stockholder totaled \$85,194 at December 31, 2021; and the weighted average balance was \$102,969 for the year then ended based upon the month-end balances. The Company charged an interest rate of 1.0% on these advances and received interest income of \$1,025 on these advances for the year ended December 31, 2021. Repayment terms are not documented In writing. The Company shares its office space with an affiliate under the terms of an annual expense sharing agreement. This agreement is not subject to ASC 842 under the short-term exemption. As a result, the adoption of ASC 842 had no effect on the Company's financial statements for the year ended December 31, 2021. {12}------------------------------------------------ #### **FINANCIAL GOAL SECURITIES,** INC. NOTES TO FINANCIAL STATEMENTS, CONTINUED #### DECEMBER 31, 2021 #### (4) GUARANTEES FASB ASC 460, Guarantees, requires the Company to disclose information about its obligations under certain guarantee arrangements. FASB ASC 460 defines guarantees as contracts and indemnification agreements that contingently require a guarantor to make payments to the guaranteed party based on changes in an underlying factor (such as an interest or foreign exchange rate, security or commodity price, an index or the occurrence or nonoccurrence of a specified event) related to an asset, liability or equity security of a guaranteed party. This guidance also defines guarantees as contracts that contingently require the guarantor to make payments to the guaranteed party based on another entity's failure to perform under an agreement as well as indirect guarantees of indebtedness of others. The Company has issued no guarantees at December 31, 2021 or during the year then ended. #### (5) SUBSEQUENT EVENTS The Company has evaluated events and transactions subsequent to the statement of financial condition date for items requiring recording or disclosure in the financial statements. The evaluation was performed through the date the financial statements were available to be issued. Based upon this review, the Company has determined that there were no events or transactions which took place that would have a material impact on its financial statements. #### (6) RECENTLY ISSUED ACCOUNTING STANDARDS The Financial Accounting Standards Board (the "FASS") has established the Accounting Standards Codification ("Codification" or "ASC") as the authoritative source of generally accepted accounting principles ("GAAP") recognized by the FASB. The principles embodied in the Codification are to be applied by nongovernmental entities in the preparation of financial statements in accordance with GAAP in the United States. New accounting pronouncements are incorporated into the ASC through the issuance of Accounting Standards Updates ("ASUs"). For the year ending December 31, 2021, various ASUs Issued by the FASB were either newly issued or had effective implementation dates that would require their provisions to be reflected in the financial statements for the year then ended. The Company has either evaluated or is currently evaluating the implications, If any, of each of these pronouncements and the possible impact they may have on the Company's financial statements. Management has determined that the pronouncement has either limited or no application to the Company and, in all cases, implementation would not have a material impact on the financial statements taken as a whole. {13}------------------------------------------------ #### **FINANCIAL GOAL SECURITIES,** INC. NOTES TO FINANCIAL STATEMENTS, CONTINUED ### DECEMBER 31,2021 ### (7) NET CAPITAL The Company is subject to a \$5,000 minimum capital requirement pursuant to SEC Rule 15c3-1, which requires that the ratio of aggregate indebtedness to net capital shall not exceed 15 to 1. Net capital and the related net capital ratio fluctuate on a daily basis; however, as of December 31, 2021..t the net capital was \$16,080 which exceeded the required minimum capital of \$5,000 by \$11,u80. The aggregate Indebtedness to net capital ratio was 0.04 to 1. #### (8) COVID-19 The worldwide outbreak of coronavirus (COVID-19) may lead to an adverse impact on the financial markets and the overall economy. In the event such an impact was to occur and last for a sustained period of time, the operations and financial performance of the Company may be adversely affected. At this point, however, the severity of such an event is highly uncertain and cannot be predicted. {14}------------------------------------------------ ### FINANCIAL GOAL SECURITIES, INC. Schedule I - Computation of Net Capital Requirements Pursuant to SEC Rule 15c3-1 DECEMBER 31, 2021 ### Computation of net capital | Common stock
Additional paid-in capital
Retained earnings | \$ 10,000
22,833
124,771 | | |-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------------------------------------------|----------------------------------| | Total stockholder's equity | | \$157,604 | | Less: Non-allowable assets
Prepaid expenses
Advances to stockholder
Deposits
Receivables, non-allowable portion | ( 1,029)
( 85,194)
(
417)
(54,884) | | | Total non-allowable assets | | ( 141.524) | | Net Capital | | 16,080 | | Computation of net capital requirements
Minimum net capital requirement
6 2/3 percent of net aggregate indebtedness
Minimum dollar net capital required
Net capital required (greater of above)
Excess net capital
Aggregate indebtedness | \$
43
\$ 5,000 | (5,000)
\$11.080
648
\$ | Ratio of aggregate indebtedness to net capital 0.04 : 1 There was no material difference between net capital computation shown here and the net capital computation shown on the Company's unaudited Form X-17A-5 Part IIA report dated December 31, 2021. > See Report of independent registered public accounting firm {15}------------------------------------------------ #### FINANCIAL GOAL SECURITIES, INC. ### Schedule II - Computation for Determination of the Reserve Requirements and Information Relating to Possession or Control Requirements for Brokers and Dealers Pursuant to SEC Rule 15c3-3 As of December 31, lOll The Computation for Detennination of the Reserve Requirements and Infonnation Relating to Possession or Control Requirements for Brokers and Dealers is not applicable to the Company, as the Company is not subject to the provision of SEC Rule 15c3-3 as the Company does not and will not hold customer funds or securities, and that its business activities are, and will remain as private placements and due diligence fees. Accordingly, there are no items to report under the requirements of this Rule. > See Report of independent registered public accounting firm {16}------------------------------------------------ Financial Goal Securities, Inc. Report on Exemption Provisions Pursuant to 17 C.F.R. § ISc3-3(k) For the Year Ended December 31, 2021 {17}------------------------------------------------ ![](_page_17_Picture_0.jpeg) ### REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To Those Charged with Governance and Stockholder of Financial Goal Securities, Inc.: We have reviewed management's statements, included in the accompanying Assertions Regarding Exemption Provisions, in which Financial Goal Securities, Inc. claimed: it is not subject to SEA Rule 15c3-3 as a non-covered firm because its business activities are performing private placements and due diligence. As a result, the Company (I) did not directly or indirectly receive, hold, or otherwise owe funds or securities for or to customers, other than money or other consideration received and promptly transmitted in compliance with paragraph (a) or (b)(2) of Rule 15c2-4; (2) did not carry accounts of or for customers; and (3) did not carry PAB accounts (as defined in Rule 15c3-3). Financial Goal Securities, Inc. did not identifY any exceptions with their status throughout the year ended December 31, 2021. Financial Goal Securities, Inc.' s management is responsible for compliance and its statements. Our review was conducted in accordance with the standards of the Public Company Accounting Oversight Board (United States) and, accordingly, included inquiries and other required procedures to obtain evidence about Financial Goal Securities, Inc.'s compliance. A review is substantially less in scope than an examination, the objective of which is the expression of an opinion on management's statements. Accordingly, we do not express such an opinion. Based on our review, we are not aware of any material modifications that should be made to management's statements referred to above for them to be fairly stated, in all material respects, based on the business activities of Financial Goal Securities, Inc. Alvarez & Associates, Inc. Northridge, California January 18, 2022 > 9221 Corbin Avenue Suite 165 .&. Northridge. California 91324 ..... 800.848.0008 " Chicago, Dallas, Los Angeles, New York, San Francisco, Seattle www.AAICPAs.com • {18}------------------------------------------------ ![](_page_18_Picture_0.jpeg) Bryan S. Kocen President Registered Principal # Assertions Regarding Exemption Provisions We, as members of management of FINANCIAL GOAL SECURITIES, INC. (''the Company"), are responsible for compliance with the annual reporting requirements under Rule 17a-5 of the Securities Exchange Act (SEA) of 1934. Those requirements compel a broker or dealer to file annuals reports with the Securities Exchange Commission (SEC) and the broker or dealer's designated examining authority (DBA). One of the reports to be included in the annual filing is an exemption report prepared by an independent public accountant based upon a review of assertions provided by the broker or dealer. Pursuant to that requirement, the management of the Company hereby makes the following assertions: The Company is exempt from SEA Rule 15c3-3 as a non-covered finn because its business activities are perfonning private placements and due diligence fees. As a result, the Company (I) did not directly or indirectly receive, hold, or otherwise owe funds or securities for or to customers, other than money or other consideration received and promptly transmitted in compliance with paragraph (a) or (b )(2) ofRuJe 15c2-4; (2) did not carry accounts of or for customers; and (3) did not carry PAB accounts (as defined in Rule 1503-3) throughout the most recent year ending December 31, 2021. Due to the Company's business activities, the Company is not subject to the custody and reserve provisions of Rule 1503-3. The Company did not identify.any\_exceptions\_ to the above throughout-the year. ending December 3.t, 2021. Financial Goal Securities, Inc. ![](_page_18_Picture_9.jpeg) EnhancIng tlr. dlv."II/caUon 0' your Inve.tment pofftollo 35-900 Bob Hope Drive. Suite 202. Rancho Mirage. CA 92270 Phone (760) 324-4015 • Fax (780) 324-4301 • bryan@kfglnc.com {19}------------------------------------------------ Financial Goal Securities, Inc. Report on the SIPC Annual Assessment Pursuant to Rule 17a-5(e)4 For the Year Ended December 31, 2021 {20}------------------------------------------------ ![](_page_20_Picture_0.jpeg) ### REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM ON APPLYING AGREED-UPON PROCEDURES To Those Charged with Governance and the Stockholder of Financial Goal Securities, Inc.: We have performed the procedures included in Rule 17a-5(e)( 4) under the Securities Exchange Act of 1934 and in the Securities Investor Protection Corporation (SIPC) Series 600 Rules, which are enumerated below and were agreed to by Financial Goal Securities, Inc. and the SIPC, solely to assist you and SIPC in evaluating Financial Goal Securities, Inc.'s compliance with the applicable instructions of the General Assessment Reconciliation (Form SIPC-7) for the year ended December 31, 2021. Financial Goal Securities, Inc.'s management is responsible for its Form SIPC·7 and for its compliance with those requirements. This agreed-upon procedures engagement was conducted in accordance with standards established by the Public Company Accounting Oversight Board (United States) and in accordance with attestation standards established by the American Institute of Certified Public Accountants. The sufficiency ofthese procedures is solely the responsibility of those parties specified in this report. Consequently, we make no representation regarding the sufficiency of the procedures described below either for the purpose for which this report has been requested or for any other purpose. The procedures we performed, and our findings are as follows: - 1) Compared the listed assessment payments in Form SIPC-7 with respective cash disbursement records entries, noting no differences; - 2) Compared the Total Revenue amount reported on the Annual Audited Report Form X-17A-5 Part III for the year ended December 31,2021 with the Total Revenue amount reported in Form SIPC-7 for the year ended December 31, 2021, noting no differences; - 3) Compared any adjustments reported in Form SIPC-7 with supporting schedules and working papers, noting no differences; - 4) Recalculated the arithmetical accuracy of the calculations reflected in Form SIPC-7 and in the related schedules and working papers supporting the adjustments, noting no differences; and - 5) Compared the amount of any overpayment applied to the current assessment with the Form SIPC-7 on which it was originally computed, noting no differences. We were not engaged to and did not conduct an examination or review, the objective of which would be the expression of an opinion or conclusion, respectively, on Financial Goal Securities, Inc.'s compliance with the applicable instructions of the Form SIPC·7 for the year ended December 31, 2021. Accordingly, we do not express such an opinion or conclusion. Had we performed additional procedures; other matters might have come to our attention that would have been reported to you. This report is intended solely for the information and use of Financial Goal Securities, Inc. and the SIPC and is not intended to be and should not be used by "nyone other than these specified parties. fA-o- 1< ~/ ~, Alvarez & Associates, Inc. Northridge, California January 18,2022 > 9221 Corbin Avenue Suite 165 ~ Northridge, California 91324 ... 800.848.0008 " Chicago, Dallas, Los Angeles, New York, San Francisco, Seattle {21}------------------------------------------------ ## Finam~ial Goal Securities, Inc. Schedule of Securities Investor Protection Corporation Assessments and Payments For the Year Ended December 31,2021 | Total assessment | Amount | | |----------------------------------|-----------|--| | | \$
957 | | | SIPC-6 general assessment | | | | Payment made on August 1, 2021 | (485) | | | SIPC-7 general assessment | | | | Payment made on January XX, 2022 | (472) | | | Total assessment balance | | | | (overpayment carried forward) | \$ | | Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.