# THE LEADERS GROUP, INC. X-17A-5 (2026-03-02) — Broker-dealer annual report - Company: THE LEADERS GROUP, INC. - Form: X-17A-5 - Filed: 2026-03-02 - Period: 2025-12-31 - Accession: 0000930933-26-000001 - CIK: 930933 - File #: 8-47639 - Type: Broker-dealer - Material weakness: No - Auditor: Cherry Bekaert LLP - Auditor location: Raleigh, NC - Contact: Sean Wickersham - Phone: 303-797-9080 - Email: sean@leadersgroup.net - Website: leadersgroup.net - Signed by: Sean D. Wickersham (President) Original filing: https://www.sec.gov/Archives/edgar/data/930933/000093093326000001/leadersgrouppublicaudit.pdf --- {0}------------------------------------------------ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 > ANNUAL REPORTS FORM X-17A-5 PART III OMB APPROVAL OMB Number: 3235-0123 Expires: Nov. 30, 2026 Estimated average burden hours per response: 12 > SEC FILE NUMBER 8-47639 FACING PAGE Information Required Pursuant to Rules 17a-5, 17a-12, and 18a-7 under the Securities Exchange Act of 1934 filing for the period beginning 01/01/2025 AND ENDING\_12/31/2025 MM/DD/YY MM/DD/YY A. REGISTRANT IDENTIFICATION # NAME OF FIRM: The Leaders Group, Inc. TYPE OF REGISTRANT (check all applicable boxes): 回 Broker-dealer □ Check here if respondent is also an OTC derivatives dealer ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use a P.O. box no.) # 475 Springfield Ave | | (No. and Street) | | | | |------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------------------------------------------------------|-----------------|--------------------------------------------|--| | Summit | NJ | | 07901 | | | (City) | (State) | | (Zip Code) | | | PERSON TO CONTACT WITH REGARD TO THIS FILING | | | | | | Sean Wickersham | 303-797-9080 | | sean@leadersgroup.net | | | (Name) | (Area Code - Telephone Number) | (Email Address) | | | | | B. ACCOUNTANT IDENTIFICATION | | | | | Cherry Bekaert LLP
3800 Glenwood Avenue, Suite 900 Raleigh | (Name - if individual, state last, first, and middle name) | NC | 27612 | | | (Address) | (City) | (State) | (Zip Code) | | | October 20, 2003 | | 349 | | | | (Date of Registration with PCAOB)(if applicable) | | | (PCAOB Registration Number, if applicable) | | | | FOR OFFICIAL USE ONLY | | | | | * Claims for exemption from the requirement that the annual reports of an independent public
arrountant must he supported by a statement of facts and rirrumstances 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. {1}------------------------------------------------ #### OATH OR AFFIRMATION |, Sean D. Wickersham , swear (or affirm) that, to the best of my knowledge and belief, the financial report pertaining to the firm of The Leaders Group, Inc. . as of 12/31 , 2 025 \_\_ 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_1_Figure_2.jpeg) Notary Public #### This filing\*\* contains (check all applicable boxes): - (a) Statement of financial condition. - (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. - [ (e) Statement of changes in stockholders' or partners' or sole proprietor's equity. - [ (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. - [ (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. - | (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. - [ (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. - □ (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. - □ (o) 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-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. - [ (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-12, or 17 CFR 240.18a-7, as applicable. - □ (r) Compliance report in accordance with 17 CFR 240.18a-7, as applicable. - [ (s) Exemption report in accordance with 17 CFR 240.18a-7, as applicable. - @ (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 statements under 17 CFR 240.17a-5, 17 CFR 240.18a-7, or 17 CFR 240.17a-12, as applicable. - | (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. - | (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. - | (x) Supplemental reports on applying agreed-upon procedures, in accordance with 17 CFR 240.17a-12, as applicable. - □ (y) Report describing any material inadequacies 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). - O (z) Other: - \*\* To request confidential treatment of certain portions of this filing, see 17 CFR 240.17a-5(e)(2), as applicable. {2}------------------------------------------------ # THE LEADERS GROUP, INC STATEMENT OF FINANCIAL CONDITION DECEMBER 31, 2025 This report is filed in accordance with Rule 17a-5(e)(3) under the Securities Exchange Act of 1934 as a PUBLIC DOCUMENT. {3}------------------------------------------------ | | Page(s) | |---------------------------------------------------------|---------| | Report of Independent Registered Public Accounting Firm | 3 | | Statement of Financial Condition | 4 | | Notes to Financial Statements | 5 | {4}------------------------------------------------ ![](_page_4_Picture_0.jpeg) ### REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Board of Directors and Stockholder of The Leaders Group, Inc. ### Opinion on the Financial Statements We have audited the accompanying statement of financial condition of The Leaders Group, Inc. (the "Company") as of December 31, 2025, 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, 2025 in conformity with accounting principles generally accepted in the United States of America. ### 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) (PCAOB) 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. kerry Bekaert LLP We have served as The Leaders Group, Inc.'s auditor since 2025. Denver, Colorado February 24, 2026 {5}------------------------------------------------ ### STATEMENT OF FINANCIAL CONDITION | | | December 31, 2025 | | |---------------------------------------------------------------------------|----|-------------------|--| | ASSETS | | | | | CURRENT ASSETS | | | | | Cash and cash equivalents | S | 16,454,339 | | | Clearing deposit | | 50.000 | | | Commissions receivables (net of \$15,900 allowance for doubtful accounts) | | 2,769,063 | | | Prepaid expenses and other assets | | 1,708,040 | | | Total current assets | | 20,981,442 | | | PROPERTY AND EQUIPMENT | | | | | Furniture, fixtures and other | | 76.028 | | | Accumulated depreciation | | (37,600) | | | | | 38,428 | | | | | | | | OTHER ASSETS | | | | | Deposits and other assets | | 85.989 | | | | | | | | Total other assets | | 124,417 | | | Total assets | S | 21,105,859 | | | | | | | | LIABILITIES AND STOCKHOLDER'S EQUITY | | | | | Current Liabilities | | | | | Accounts payable | S | 4,851,437 | | | Commission payable | | 3,364,903 | | | Other current liabilities | | 3,335,255 | | | Total current liabilities | | 11,551,595 | | | | | | | | COMMITMENTS AND CONTINGENCIES (NOTE C) | | | | | STOCKHOLDER'S EQUITY | | | | | Common stock, \$.1 par value; 20,000 shares authorized; | | | | | 10,250 shares issues and outstanding | | 1,025 | | | Additional paid-in capital | | 12,975 | | | Retained earnings | | 9,540,264 | | | Total Stockholder's Equity | | 9,554,264 | | | Total Liabilities and Stockholder's Equity | ಕಾ | 21,105,859 | | | | | | | The accompanying notes are an integral part of the Statements. {6}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`a]bcdeb^]- ---- LN - K-L-KNNR- LLL -N- K NLQ-JNL- LNS- NNR -S RRQ-L-N-L- \$NL-LL - K- Nf\$-'g h N -SL-L -P- LN- LNL -- LN -LL- KKL-L- L- L - K-L- L --RNNRNLN -N R - K- LNSL- L --RNNRNLN -L-L-L- K-L-KNNR- LLL --L- L- L - K- M --X - NS-L- LNS- N -L R- RL -Q-NKK -K -L - LNL -- #### ! ie]jeklie]jamncoep^kb]- - - K-L- LLL- K- -KR J -L- Q- N -RR- --- NL -L -- - - h NMRL - #### q[ rs\_t^sbueklamnctd^kb- - - - ' LQ-h NL- - LL-L- L-h N NLN - -NLRNv-NK-L- - N-X -L- =1>3,6?V/-7,3C<,DCw, - | |
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}I!} | | NLN -X - S-L - LN -K -L-Q -- - -!"!-J -{ H- {7}------------------------------------------------ ### NOTES TO FINANCIAL STATEMENTS December 31, 2025 ### NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - continued Expenditures for major renewals and improvements that extend the useful lives of property and equipment are capitalized. Expenditures for routine maintenance and repairs are charged to expense as incurred. #### Security Transactions and Revenue Recognition 4. Revenue from contracts with customers primarily includes income from sale of insurance-based products, investment company securities, and being an introducing Broker with National Financial for general securities. The recognition and measurement of revenue is based on the on individual products and securities, the transaction date commissions are paid to the firm by the product sponsor. Significant judgment is required during the revenue recognition process to determine whether performance obligations are satisfied at a point in time or over time; how to allocate transaction prices where multiple performance obligations are identified; when to recognize revenue based on the appropriate measure of the Company's progress under the contract; and whether constraints on variable consideration should be applied due to uncertain future events. The guidance under ASC Topic 326, Financial Instruments - Credit Losses ("ASC 326"), impacts the impairment model for certain financial assets by requiring a current expected credit loss ("CECL") methodology to estimate expected credit losses over the entire life of the financial asset. Under the Company has the ability to determine that there are no expected credit losses in certain circumstances (e.g., based on the credit quality of the customer). The allowance for credit losses is based on the Company's expectation of the financial instruments carried at amortized costs, including arrangement fees and other receivables using the CECL framework. The Company's expectation is that the credit risk associated with receivable are that the client with which it conducts business with is unable to fufill its contractual obligation. Management monitors the credit risk of clients and currently there is not a foreseeable expectation of an event or change which could result in the arrangement fee receivables being unpaid based on individual facts and circumstances. The Company considers factors such as historical experience, credit quality, age of balances and current and future economic conditions that may affect the Company's expectation of the collectability in determining the allowance for credit losses. The Company has evaluated its outstanding accounts receivable and has provided an allowance for credit losses of \$113,799 as of December 31, 2025. Proprietary securities transactions in regular-way trades are recorded on the trades had settled. Profit and loss arising from all securities and commodities transactions entered into for the account and risk of the Company are recorded on a trade date basis. Customer's securities transactions are reported on a settlement date basis with regulated compensation income and expenses reported on a trade date basis. ### 5. Commissions and related clearing expenses are recorded on a trade-date basis. As such, the Company records commission revenue and expense on an accrual basis. As of December 31, 2025, the allowance for credit losses was \$15,900. #### 6. Advertising The Company expenses the cost of advertising and marketing takes place or materials are produced. Advertising and marketing expense for the year ended December 31, 2025, was \$19,918, included in general and administrative expenses. {8}------------------------------------------------ ### NOTES TO FINANCIAL STATEMENTS December 31, 2025 ### NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - continued #### 7. Income Taxes Income tax expense is the total of the current year income tax due or refundable and the change in deferred tax assets and liabilities. Deferred tax assets and liabilities are the expected future tax amounts, computed using enacted tax rates, attributable to temporary differences between carrying amounts and tax bases of assets and liabilities and to carryforwards of tax deductions or credits. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment. The Company has determined that it does not have any material unrecognized tax benefits or obligations as of December 31, 2025, therefore no such interest or penalties were recognized during the periods presented. The Company is no longer subject to tax examinations by federal and various state agencies for the years prior to 2022. GAAP requires an entity to disclose any material uncertain tax positions that management believes do not meet a "more-likely-than-not" standard of being sustained under an income tax audit, and to record a liability for any such taxes including penalty and interest. Management of the Company has not identified any uncertain tax positions that require the recording of a liability or further disclosure. #### 8. Fair Value of Financial Instruments The carrying amounts of the Company's financial instruments, including cash and cash equivalents, commission receivables, clearing deposit, prepaid expense, accounts payable and accrued liabilities, approximate fair value due to the short-term nature of these instruments. #### ರಿ Leases The Company was a lessee in a noncancelable operating lease until September 2024. The Company signed a short-term lease through March 2025, and has not renewed the lease. All the Company's employees are remote. At December 2025 there is no longer a right-of-use ("ROU") or corresponding lease liability in the statement of financial condition. The lease expense for the ROU asset through September 2024 was recognized on a straight-line basis over the lease term. The incremental borrowing rate used was the Treasury Bill Rate approximating the term of the operating lease. {9}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`\_aD-5)\*-+,-./01V2-8/2)-,0-4\*.,235-E35)-352-630/083/9- IH - IH -N-Gb!#""""- -R- J- HG- - GH -H -JHHG-- L- - G-N H-L-J --JHI -HG-H - G-N -G -L- HMHKHG- HG- H R- -HG - - - HG- - K- - -!"!#-G GJ- HG - Kb #c d!- - XG-G -J - J-G-R- - GH - H G\$R-Wb " #- e-Wbddf""g- #### hijklmnopilqrhspqtuvwxyzhspq- - L- -d" ORP-KHW G H GH -J-K -HG -J L -{ -GH -J- GHHG -L- JG-G -K -- GH - K-GH -JHMHJ-J- GH -GHJ- GH G-' GHHG-K J -I G-HHGJL- G -K - -GH -J-- LWGHM- G H GH - -HI G-G-G-H GH - K-G- GHHG-- L-R -GHM- G H GH - K--G - ""|- K-G-KH G-|-J -#"|--G -G-NG-!|- K-JHMHJ- GH -QH-I G- ""|-HHGJL-- LV -GHM- G H GH -Q b "fgf- K -G-L -- - -!"!#- #### }~rspmjilm~- - - - L-H - XG-K -GH-G -GH-G -I H -JH -JQ HG - G G -H G -- G - JHG - H HM-H-G- H L- - K- H -- L- GHJL- HG -JH - - -G -- - IH H -K -J -Q-G-JH- - J--G- G--H - GHJ-JG M-G- G - K-G -JH - G--G H-G- L-JHI -GG-G-KHJ- J GH - K-G -GG -QHJJ- G-I- -G HJ-I -KKG- -G- L -KHHJ- HGH - JG - K- GH - -JHS HHGL- -GG -GG- -G-G J- K- J-- GHJ-G- L- GJH - I -K -JMJ- M JG L-- G - GHMG-JHHJHGH - {10}------------------------------------------------ ### NOTES TO FINANCIAL STATEMENTS ### December 31, 2025 ### NOTE D - INCOME TAXES | | 2025 | |----------------------------|--------------| | United States | \$ 9.151.467 | | Income before income taxes | \$ 9,151,467 | The components of provision for income taxes for all periods presented were as follows: | | 2025 | | | |----------------------------|-------------|-------------|--| | Current tax provision: | | | | | Federal | \$2,432,682 | | | | State | \$180.050 | | | | Total current | | \$2,612,732 | | | Deferred tax provision: | | | | | Federal | S | | | | State | S | | | | Total deferred | த | | | | Provision for income taxes | \$2,612,732 | | | | | | | | Deferred income taxes are provided for the temporary differences between the financial reporting basis and the tax basis of the Company's assets and liabilities. For the year ended December 31, 2025, the effective tax rate approximated the federal statutory rate of 21%. ### NOTE E- NET CAPITAL REQUIREMENTS Under SEC Rule 15c-3-1(a)(2)vi, the Company is required to maintain a minimum net capital equal to the greater of \$50,000 or 6-2/3% of aggregate indebtedness, as defined, and shall not permit the ratio of aggregated indebtedness to net capital to exceed 15 to 1. As of December 31, 2025, the Company had net capital of \$7,446,052, which was \$6,675,945 in excess of the requirement of \$770,107. The Company's aggregate indebtedness to net capital ratio was 155.14 as of December 31, 2025. ### NOTE F - CHANGE IN OWNERSHIP Simplicity Financial Marketing Holdings, Inc. purchased 100% of the stock on August 1, 2023. During 2025, the withdrawal request was approved by FINRA and the company distributed \$5,100,00 to the Parent Company. ### NOTE G - SUBSEQUENT EVENTS The preparation of the Company's financial statements and accompanying notes in conformity with accounting principles generally accepted in the United States of America, requires management of the Company to evaluate transactions and events subsequent to December 31, 2025, involving the Company. The management of the Company has evaluated the subsequent transactions and events of the date the financial statement and accompanying notes were available for issuance. Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.