# METRIC FINANCIAL, LLC X-17A-5 (2026-04-14) — Broker-dealer annual report - Company: METRIC FINANCIAL, LLC - Form: X-17A-5 - Filed: 2026-04-14 - Period: 2025-12-31 - Accession: 0000915224-26-000003 - CIK: 915224 - File #: 8-46684 - Type: Broker-dealer - Material weakness: No - Auditor: Ferrara CPA - Auditor location: Hamilton, NJ - Contact: Sharon Jones - Phone: 4042136863 - Email: sharon@metric-financial.com - Website: metric-financial.com - Signed by: Sharon Jones (CCO) Original filing: https://www.sec.gov/Archives/edgar/data/915224/000091522426000003/annualaudit.pdf --- {0}------------------------------------------------ 1-1-2025 12-31-2025 Metric Financial LLC ■ 1180 W Peachtree St NW, Suite 1910 ATLANTA GEORGIA 30339 SHARON JONES 404-213-6863 sharon@metric-financial.com FERRARA CPA 100 Horizon Center Blvd Office #122 Hamilton, NJ 08691 8-27-2021 7259 {1}------------------------------------------------ | Sharon Jones | | | |--------------|-----------------------|--| | | Metric Financial, LLC | | December 31 025 | CCO | | |-----|--| - - - - - - - - - - - - - - - - - - - - - - - - - - - {2}------------------------------------------------ # **METRIC FINANCIAL LLC** # **(A Wholly Owner Subsidiary of Grella Management, LLC) ȋ ǤǤǤͺǦͶͺͶȌ FINANCIAL STATEMENTS AND SUPPLEMENTAL SCHEDULES** **For the Year Ended December 31, 2025** **(With Report of Independent Registered Public Accounting Firm Thereon)** **(These financial statements and schedule(s) should be deemed confidential pursuant to subparagraph (e)(3) of SEC Rule 17a-5.)** {3}------------------------------------------------ ### **METRIC FINANCIAL, LLC Table of Contents For the Year Ended December 31, 2025** | REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM 1 | | | |-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--|--| | FINANCIAL STATEMENTS | | | | Statement of Financial Condition 2
Statement of Operations 3
Statement of Changes in Member Equity 4
Statement of Cash Flows 5
NOTES TO THE FINANCIAL STATEMENTS 6 | | | | SUPPLEMENTAL SCHEDULES
Schedule I: Computation of Net Capital under Rule 15c3-1 of the Securities and
Exchange Act of 1934 11 | | | | Schedule II: Computation for Determination of Reserve Requirements for Brokers
and Dealers Pursuant to Rule 15c3-3 under the Securities and Exchange
Act
of 1934 12 | | | | Schedule III: Information Relating to the Possession or Control Requirements under the
Securities and Exchange Commission Rule 15c3-3……………………………………13 | | | | REPORTS ON BROKER DEALER EXEMPTION…………………….………………
14 | | | {4}------------------------------------------------ # **FFSSBSB CPA** 100 Horizon Center Blvd Hamilton, NJ 08691 **Tel:** 609-865-5391 **)D[** #### Report of Independent Registered Public Accounting Firm To: The Member **MFUSJD'JOBODJBM, LLC** #### **Opinion on the Financial Statements** I have audited the accompanying statement of financial condition of MHWULF)LQDQFLDO, LLC as of December 31, 202, and the related statements of LQFRPH, changes in member capital and cash flows for the year then ended, that are filed pursuant to Rule 17a-5 under the Securities Exchange Act of 1934 and the related notes (collectively referred to as the financial statements). In my opinion, the financial statements present fairly, in all material respects, the financial position of MHWULF )LQDQFLDO, LLC as of December 31, 202 and its results of operations and its cash flows for the year then ended in conformity with accounting principles generally accepted in the United States of America. #### **Basis for Opinion** These financial statements are the responsibility of 0HWULF )LQDQFLDO, LLC's management. My responsibility is to express an opinion on MHWULF)LQDQFLDO, LLC's financial statements based on my audit. I am a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and I am required to be independent with respect to MHWULF)LQDQFLDO, LLC in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB. I conducted my audit in accordance with the standards of the PCAOB. Those standards require that I 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. My 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. My 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. I believe that my audit provides a reasonable basis for my opinion. #### **Supplemental Information** The Schedule I, Computation of Net Capital Under SEC Rule 15c3-1, Schedule II, Computation for 'HWHUPLQDWLRQ of Reserve Requirements and Information Relating to Possession or Control Requirements Under SEC Rule 15c3-3 (*exemption*)6FKHGXOH,,,,QIRUPDWLRQ5HODWLQJWRWKH 3RVVHVVLRQ RU &RQWURO 5HTXLUHPHQWV XQGHU 6(& 5XOH F has been subjected to audit procedures performed in conjunction with the audit of MHWULF )LQDQFLDO, LLC's financial statements. {5}------------------------------------------------ The supplemental information is the responsibility of 0HWULF)LQDQFLDO, LLC's management. My 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 my opinion on the supplemental information, I evaluated whether the supplemental information, including its form and content, is presented in conformity with 17 C.F.R. §240.17a-5. In my opinion, the Schedule I, Computation of Net Capital Under SEC Rule 15c3-1, Schedule II, Computation for Identification of Reserve Requirements and Information Relating to Possession or Control Requirements Under SEC Rule 15c3-3 (*exemption*) DQG 6FKHGXOH ,,, ,QIRUPDWLRQ 5HODWLQJ WR WKH 3RVVHVVLRQ RU &RQWURO 5HTXLUHPHQWVXQGHU6(&5XOHF is fairly stated, in all material respects, in relation to the financial statements as a whole. # *Ferrara CPA* I have served as MHWULF)LQDQFLDO, LLC's auditor since 202. )HUUDUD CPA Hamilton, New Jersey \$SULO, 202 {6}------------------------------------------------ # **METRIC FINANCIAL, LLC STATEMENT OF FINANCIAL CONDITION DECEMBER 31, 2025** | ASSETS
Cash
Accounts Receivable
Prepaid
deposits
and
expenses | \$
2,840,423
2,569,600
31,031 | |---------------------------------------------------------------------------------|----------------------------------------| | TOTAL
ASSETS | \$
5,441,054 | | LIABILITIES AND
MEMBER
EQUITY | | | LIABILITIES
Accounts Payable, Accrued Expenses and Other Liabilities | \$
2,031,343 | | TOTAL
LIABILITIES
Commitments and Contingencies (Note 8) | 2,031,343 | | MEMBER
EQUITY | 3,409,711 | | TOTAL
LIABILITIES
AND
MEMBER
EQUITY | \$
5,441,054 | {7}------------------------------------------------ ### **METRIC FINANCIAL, LLC STATEMENT OF FOR THE YEAR ENDED DECEMBER 31, 2025** #### **REVENUE** | Managing Dealer Revenue | \$
1,506,014 | |-------------------------|-----------------| | Commission Share | 6,948,950 | | Annuities | 32,743 | | Due Diligence Fee | 1,271,312 | | Professional Services | 68,604 | | Interest Income | 88,898 | | Wholesale Fees | 958,983 | | Other Revenue | 210,952 | | Total Revenue | 11,086,456 | #### **EXPENSES** | Commissions | 8,010,650 | |----------------------------------------|-----------| | Payroll Expense | 720,532 | | Professional Service Fees | 503,680 | | Technology, Data and
Communications | 52,281 | | Occupancy and Utilities | 16,800 | | Travel, Meals & Entertainment | 98,028 | | Insurance | 53,226 | | Other Expenses | 133,303 | | Total Expenses | 9,588,500 | | | | **NET INCOME** \$ 1,497,956 {8}------------------------------------------------ #### **METRIC FINANCIAL, LLC STATEMENT OF CHANGES IN MEMBER EQUITY FOR THE YEAR ENDED DECEMBER 31, 2025** | BALANCE
AT
DECEMBER
31,
2024 | \$
3,911,314 | |------------------------------------------|-----------------| | Distribution | (1,999,559) | | Net
Income | 1,497,956 | | BALANCE
AT
DECEMBER
31,
2025 | \$
3,409,711 | {9}------------------------------------------------ # **METRIC FINANCIAL, LLC STATEMENT OF CASH FLOWS FOR THE YEAR ENDED DECEMBER 31, 2025** | CASH
FLOWS
FROM
OPERATING
ACTIVITIES | | |-----------------------------------------------------------------------------------------------------------|-----------------| | Net
Income | \$
1,497,956 | | Adjustments
to
reconcile
net
income
to
net
cash
—•‡†‹
operating
activities | | | Accounts
receivables | (916,230) | | Accounts
payable,
accrued
expenses
and
other
liabilities | 451,033 | | CRD Deposit | (5427) | | Net
cash
used
‹
operating
activities | (470,624) | | Financing Activities:
Distributions | (1,999,559) | | DECREASE IN CASH | (972,227) | | CASH
AT
BEGINNING
OF
YEAR | 3,812,650 | | CASH
BALANCE
AT
END
OF
YEAR | \$2,840,423 | {10}------------------------------------------------ #### **1. Organization and Nature of Business** Metric Financial, LLC. (the Company) is a broker dealer registered with the Securities and Exchange (SEC) and is a member of the Financial Industry Regulatory Authority (FINRA). The Company provides ǡǡ ǡ ǡ Ǥ The Company does not hold funds or securities for the accounts of its customers. ### **2. Significant Accounting and Reporting Policies Basis of Presentation** The accompanying financial statements have been prepared on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States (U.S. GAAP) as determined by the Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC). The Company is evaluating new accounting standards and will implement as required. #### **Use of Estimates** The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. #### **Cash and Cash Equivalents** The Company maintains its cash in bank deposit accounts which, at times, may exceed federally insured limits. The Company monitors the bank accounts and does not expect to incur any losses from such accounts. The Company has defined cash and cash equivalents as highly liquid investments with original maturities of less than ninety days that are not held-for-sale in the ordinary course of business. The recorded value of such instruments approximates their fair value. On December 31, 2025, the Company had no cash equivalents. #### **Revenue** The Company has adopted Financial Accounting Standards Board (FASB) Accounting Standards Update 2014-09, Revenue from Contracts with Customers (ASC 606) and the FASB's Accounting Standards Update 2016-08, Principal vs. Agent Considerations (ASU 2016-09). Additionally, the guidance requires the Company adhere to the following model: a) identify the {11}------------------------------------------------ contract with the customer, b) identify the performance obligations in the contract, c) determine the transaction price, d) allocate the transaction price to the performance obligations in the contract, and e) recognize revenue when (or as) the Company satisfies a performance obligation. #### **Single Reportable Segment** The Company is engaged in a single line of business as a securities broker-dealer . The Company has identified its CEO as the chief operating decision maker ("CODM"), who uses net income to evaluate the results of the business, predominantly in the forecasting process, to manage the Company. Additionally, the CODM uses excess net capital, which is not a measure of profit and loss, to make operational decisions while maintaining capital adequacy, such as whether to reinvest profits or pay dividends. The Company's operations constitute a single operating segment and therefore, a single reportable segment, because the CODM manages the business activities using information of the Company as a whole. The accounting policies used to measure the profit and loss of the segment are the same as those described in the summary of significant accounting policies. The company derived 14 percent of its total revenues from a single external customer in 2025. **Managing Dealer Revenue**: Managing Broker Dealer revenue is revenue generated from the participation in private placements on a best-efforts basis. Specifically, this means these are private placement transactions in which Metric Financial serves as the Managing Broker Dealer, and works with the issuer to define the terms, structure, and pricing of each offering, prepare the private placement memorandum, subscription documents, and bring in other broker dealers to participate as selling group members in the offering. The terms of the private placement memorandum defines the Company's portion of the revenue for being the managing broker dealer on the offering. Typically, are a percentage of the amount invested and recorded based upon the capital commitments obtained as of the closing of a respective placement when all performance obligations to the client have been completed. **Commission Share:** Commission Share revenue are commissions derived by our representatives from selling shares of the private placement to investors. Revenues from fees arising from private securities placement in which the Company acts as an agent are recorded pursuant to the terms of the Company's agreements with the respective offering parties. Typically, fees are a percentage of the amount invested and are recorded based upon the capital commitments obtained as of the closing of a respective placement when all performance obligations to the client have been completed. 7 {12}------------------------------------------------ **Annuities:** This revenue is generated from new variable annuity applications and policies or trailers on existing annuities for our clients. The Company is paid a concession by the variable annuity insurance carrier for each client that invests in a variable annuity, and the Company receive ongoing trailer fees. Fees are a percentage of the amount purchased and trails are a percentage of net asset value at the end of the quarter and recorded upon payment from the variable annuity insurance company. **Due Diligence Fees**: Due Diligence fees are fees that Metric Financial is paid by the Issuer for performing full due diligence reviews of the Issuer and the private placement offering. The fees are a percentage of the amount invested. **Professional Services:** These are revenues that are derived from an agreement with an issuer in which Metric receives a percentage on the money raised in the offering for acting as a strategic adviser. **Wholesale Fees:** These are fees earned by bringing in other sellers for private placement offerings. These sellers are called procured selling group members. Revenue is earned upon funding of the private placement. by the investor brought by a procured selling member. **Other Revenue:** This represents consulting fee for structuring offerings and doing trend analysis. These fees are typically a flat fee earned once the offering has been on the market for an agreed upon time. #### **Accounts Receivable** On December 31, 2025, accounts receivable consisted of current billings that were collected in January 2026. Accounts receivables are stated at the amount management expects to collect from outstanding accounts. Management provides for probable uncollectable accounts through a provision for bad debt expense and an adjustment to a valuation allowance based on its assessment of the current status of individual accounts. Accounts that are unpaid after management has used reasonable collections efforts are written off through a charge to the valuation allowance and a credit to accounts receivable. As of December 31, 2025, no allowance for uncollectable accounts was deemed necessary. Accounts receivable on January 1, 2025, was \$2,569,600. #### **Fair Value Measurements** Fair Value - FASB ASC 820, Fair Value Measurement and Application, defines fair value as the price that would be received from sales of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The Statement establishes a three-level hierarchy of inputs used to measure fair value. {13}------------------------------------------------ Level 1) Inputs are unadjusted quoted prices in active markets for identical assets or liabilities. Level 2) Inputs other than the quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. Level 3) Inputs are unobservable inputs such as management's assumption of the default rate among mortgages of a mortgage-backed security. The Standards provide guidance on applying fair value to alternative investments, such as hedge and private equity funds. It also enhances disclosure requirements around those types of instruments. Fair value measurements are based not on entry prices, but rather on exit prices - the price that would be received to sell the asset or paid to the transfer of the liability. While entry and exit prices differ conceptually, in many cases, they may be identical and can be considered to represent fair value of the asset or liability at initial recognition. ### **Income Taxes** The Company is currently a limited liability company that is taxed as a single member LLC under Internal Revenue Code regulations. Therefore, the income or losses of the Company flow through and are taxable to its member. No liability for income tax is reflected in the accompanying financial statements. The Company adheres to ASC 740-10, Uncertainty in income tax. The Company evaluates its tax positions to determine if they are more likely than not to be substantial on examination. A tax position includes entities' status and a decision not to file a return. The Company has evaluated its tax positions and determined that it has no uncertain tax positions. # **3. Related Parties** Metric Financial LLC is solely owned by Grella Management, LLC. Grella Management, LLC and John E. Grella did not incur any expenses on behalf of Metric Financial, LLC in 2025. # **4. Net Capital Requirements** The Company is subject to the SEC's Uniform Net Capital Rule (SEC Rule 15c3-1) of the Securities Exchange Act of 1934 which requires maintenance of minimum net capital. Under the Rule, the Company is required to maintain minimum net capital, as defined, equal to the greater of \$5,000 or 6 2/3% of aggregate indebtedness. The ratio of aggregated indebtedness to net capital cannot exceed 1500% or 15:1. On December 31, 2025, the Company had net capital of \$809,080 which was \$673,657 in excess of its required minimum net capital of \$135,423. The percentage of aggregate indebtedness to net capital was 251%. {14}------------------------------------------------ ### **5. Leases** The Company accounts for its leases in accordance with FASB ASC 842, *Leases.* The Company determines if an arrangement is a lease, or contains a lease, at inception of a contract and when the terms of an existing contract are changed. The Company recognizes a lease liability and a right of use (ROU) asset at the commencement of the lease. *Accounting policy election for short-term leases.* The Company has elected, for all underlying classes of assets, to not recognize ROU assets and lease liabilities for short-term leases that have a lease term of 12 months or less at lease commencement, and do not include an option to purchase the underlying asset that the Company is reasonably certain to exercise. The Company recognizes lease cost associated with its short-term leases on a straight-line basis over the lease term. The Company has recorded \$16,800 in lease expenses on a short term operating lease for office space on the December 31, 2025, financial statements. # **6. Subordinated Liabilities** The Company had no liabilities subordinated to the claims of general creditors as of the beginning of the year, end of the year, and during the year ended December 31, 2025. # **7. Subsequent Events** Management has evaluated all events or transactions that occurred after December 31, 2025, through the date of the issued financial statements. During this period, there were no material recognizable subsequent events that required recording or disclosures in the December 31, 2025, financial statements. # **8. Commitments, Contingencies, and Guarantees** The Company does not have any commitments, contingencies, or guarantees, including arbitration or other litigation claims that may result in a loss or a future obligation. {15}------------------------------------------------ **Supplemental Schedules** {16}------------------------------------------------ #### **METRIC FINANCIAL, LLC** #### **Schedule I – Computation of Net Capital under Rule 15c3-1 of the Securities and Exchange Act of 1934** #### **December 31, 2025** | COMPUTATION
OF
NET
CAPITAL | | | |---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----|-----------------| | TOTAL
MEMBER
EQUITY | \$ | 3,409,711 | | LESS: | | | | Non-allowable
assets | | | | Accounts Receivable and CRD Deposit | | 2,600,631 | | NET
CAPITAL | \$ | 809,080 | | Minimum
dollar
net
capital
requirement
of
reporting
broker-dealer
(greater
of
minimum
net
capital
requirement
of
\$ͳͲͲ,000
or
6 2/3%
of
aggregate

indebtedness) | ̈́ | 135,423 | | EXCESS
NET
CAPITAL | \$ | 673,657 | | AGGREGATE
INDEBTEDNESS | | \$
2,031,343 | | MINIMUM NET
CAPITAL
BASED
ON
AGGREGATE
INDEBTEDNESS | | \$
135,423 | | PERCENTAGE
OF
NET
CAPITAL
TO
AGGREGATE
INDEBTEDNESS | | 251% | There are no material differences between the preceding computation and the Company's corresponding unaudited Form X-17A-5 as of December 31, 2025. {17}------------------------------------------------ #### **METRIC FINANCIAL, LLC** #### **Schedule II – Computation for Determination of Reserve Requirements for Brokers and Dealers Pursuant to Rule 15c3-3 under the Securities and Exchange Act of 1934** **December 31, 2025** The Firm will not claim an exemption from SEA Rule 15c3-3, in reliance on footnote 74 to SEC Release 34-70073, and as discussed in Q&A 8 of the related FAQ issued by SEC staff. The Firm has represented that it does not and will not, (1) directly or indirectly receive, hold, or otherwise owe funds or securities for or to customers, (2) does not and will not carry accounts of or for customers and (3) does not and will not carry PAB accounts. The firm's business activities are, and will remain as described below. {18}------------------------------------------------ #### **METRIC FINANCIAL, LLC** #### **Schedule III – Information Relating to the Possession or Control Requirements under the Securities and Exchange Commission Rule 15c3-3** #### **December 31, 2025** ͳͷ͵Ǧ͵ǡͶ ͵ͶǦͲͲ͵ǡƬͺ Ǥ ǡȋͳȌǡǡ ǡȋʹȌ ȋ͵ȌǤǯ ǡǤ {19}------------------------------------------------ #### **Ferrara CPA** 100 Horizon Center Blvd Hamilton, NJ 08691 **Tel:** 609-865-5391 **)D[** #### REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM # To: The Member **MFUSJD'JOBODJBM LLC** I have reviewed management's statements, included in the accompanying Rule 15c3-3 Exemption Statement, in which (1) MHWULF )LQDQFLDO LLC (the "Company") stated that the Company does not hold customers' cash or securities on behalf of customers and limits its business exclusively tR private placements DQG FRUSRUDWH ILQDQFH VHUYLFHV, and therefore has no obligations under Rule 15c3-3 under the Securities Exchange Act of 1934 pursuant to Footnote 74 of SEC Release 34-70073. In addition, as a result of the Company's having no obligations under SEC Rule 15c3-3, it may file an Exemption Report and (2) the Company stated that it had no exceptions under SEC Rule 15c3-3 throughout the year ended December 31, 202. The Company did not directly or indirectly receive, hold or otherwise owe funds or securities for or to customers, did not carry accounts of or for customers, and did not carry PAB accounts as defined in Rule 15c3-3. Management is responsible for compliance with 17 C.F.R. §240. 15c3-3 and its statements. My 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 the Company's compliance with 17 C.F.R. § 240. 15c3-3. 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, I do not express such an opinion. Based on my review, I am 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 Rule 15c3-3 under the Securities Exchange Act of 1934. *Ferrara*&3\$ Ferrara CPA Hamilton, New Jersey \$SULO, 202 {20}------------------------------------------------ # **METRIC FINANCIAL, LLC.** # **Exemption Report** Metric Financial LLC (the "Company") is a registered broker-dealer subject to Rule l 7a-5 promulgated by the Securities and Exchange Commission (17 C.F.R. §240.l 7a-5, "Reports to be made by certain brokers and dealers"). This Exemption Report was prepared as required by 17 C.F.R. §240.17a-5(d)(l) and (4). To the best of its knowledge and belief, the Company states the following: - (1) The Company does not claim an exemption under paragraph (k) of 17 C.F.R. § 240. 15c3-3, and - (2) The Company is filing this Exemption Report relying on Footnote 74 of SEC Release No. 34-70073 and as discussed in Q&A 8 of the related FAQ issued by SEC staff. The Company has no obligation under SEC Rule 15c3-3 because business activities are limited exclusively to private placements of securities and corporate finance services including mergers and acquisitions, recapitalizations, valuations, fairness opinions, and business and strategic advice and the Company does not directly or indirectly receive, hold, or otherwise owe funds or securities for or to customers; does not carry accounts of or for customers; and does not carry PAB accounts, and - (3) The Company had no exceptions to the provision identified above throughout the most recent fiscal year. I, Sharon Jones, swear (or affirm) that, to my best knowledge and belief, this Exemption Report is true and correct. By: Sharon Jones Title: CCO/FINOP ͵, 2026 Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.