# WEALTH MANAGEMENT RESOURCES, INC. X-17A-5 (2022-02-24) — Broker-dealer annual report - Company: WEALTH MANAGEMENT RESOURCES, INC. - Form: X-17A-5 - Filed: 2022-02-24 - Period: 2021-12-31 - Accession: 0001063516-22-000001 - CIK: 1063516 - File #: 8-51061 - Type: Broker-dealer - Material weakness: No - Auditor: Sandler & Company, P.C. - Auditor location: Needham, MA - Contact: Arthur Everly - Phone: 401-356-1400 - Email: 22@gmail.com - Website: sandlercpa.com - Signed by: Arthur Everly (President) Original filing: https://www.sec.gov/Archives/edgar/data/1063516/000106351622000001/2021auditwmr.pdf --- {0}------------------------------------------------ ## WEALTH MANAGEMENT RESOURCES, INC. #### FINANCIAL STATEMENTS #### AND #### SUPPLEMENTARY INFORMATION #### FOR THE YEAR ENDED DECEMBER 31, 2021 #### WITH #### REPORT OF INDEPENDENT REGISTERED ## PUBLIC ACCOUNTING FIRM {1}------------------------------------------------ # **WEALTH MANAGEMENT RESOURCES, INC. FINANCIAL STATEMENTS For the Year Ended December 31, 2021** # Table of Contents Page No. | Facing Page | 1 -
3 | |---------------------------------------------------------------------------------------------------------------------------------------------------|-------------| | Report of Independent Registered Public Accounting Firm | 4
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5 | | Financial Statements | | | Statement of Financial Condition | 6 | | Statement of Operations | 7 | | Statement of Changes in Stockholders'
Equity | 8 | | Statement of Cash Flows | 9 | | Notes to Financial Statements | 10-14 | | Supplemental Information | | | Schedule I
-
Computation of net capital under Rule 15c3-1 of the Securities
and Exchange Commission | 15 | | Schedule II
-
Computation for determination of reserve requirements under
Rule 15c3-3 of the Securities and Exchange Commission | 16 | | Schedule III
-
Information relating to possession or
control requirements
under Rule 15c3-3 of the Securities and Exchange Commission | 17 | | Report of Independent Registered Public Accounting Firm Concerning
Exemption Report | 18 | | Exemption Report Pursuant to Rule 15c3-3 of the Securities
and Exchange Commission | 19 | {2}------------------------------------------------ #### UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 | OMB APPROVAL | | | |---------------------------|--|--| | OWIS NUMIOE STASPULT | | | | Expires: Oct. 31, 2023 | | | | Estimated average burden | | | | hours per response:
12 | | | | | | | | SEC FILE NUMBER | | | | | | | # ANNUAL REPORTS FORM X-17A-5 PART III 8-51061 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 AND ENDING 12/31/2021 MM/DD/YY MM/DD/YY A. REGISTRANT IDENTIFICATION NAME OF FIRM: WEALTH MANAGEMENT RESOURCES INC. TYPE OF REGISTRANT (check all applicable boxes): X 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.) 28 CEDAR SWAMP ROAD, SUITE ONE (No. and Street) SMITHFIELD 02917 RI (City) (State) (Zip Code) PERSON TO CONTACT WITH REGARD TO THIS FILING KIMBERLY NEELY 978-270-5055 kimberlyneely 22@gmail.com (Name) (Area Code - Telephone Number) (Email Address) B. ACCOUNTANT IDENTIFICATION INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing SANDLER AND COMPANY PC (Name - if individual, state last, first, and middle name) 144 GOULD STREET, SUITE 204 NEEDHAM MA 02494 (Address) (City) (State) (Zip Code) | (Date of Registration with PCAOB)(if applicable) | (PCAOB Registration Number, if applicable) | |--------------------------------------------------|--------------------------------------------| | EOR OCCICIAL USE ONILV | | 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 | ARTHUR EVERLY | swear (or affirm) that, to the best of my knowledge and | |-----------------------------------------------------------------------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------| | | belief, the financial report pertaining to the firm of WEALTH MANAGEMENT RESOURCES, INC
as of | | DECEMBER 31 | , 21 , 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.
KEVIN R. WORTHLEY
Notary Public - State of Rhode Island
My Commission Expires
January 11, 2025 | 10*760228
Signature:
Title: PRESIDENT
President | | Notarv Public | | # This filing\*\* contains (check all applicable boxes): - x (a) Statement of financial condition. - □ {b} Notes to consolidated statement of financial condition. - x (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), - x (d) Statement of cash flows. - x (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. - x (g) Notes to consolidated financial statements. - X (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. - x (j) Computation for determination of customer reserve requirements pursuant to Exhibit A to 17 CFR 240.15c3-3. - D (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. - x (m) Information relating to possession or control requirements for customers under 17 CFR 240.15c3-3. - D (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. - X (o) Reconciliations, including appropriate explanations, of the FOCUS Report with computation of 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. - D (p) Summary of financial data for subsidiaries not consolidated in the statement of financial condition. - x (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. - x {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. - x (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. - x (w) Independent public accountant's report based on a review of the exemption report under 17 CFR 240.17a-5 or 17 {4}------------------------------------------------ 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 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). - □ (z) Other: \_ - \*\*To request confidential treatment of this filing, see 17 CFR 240.17a-5(e)(3) or 17 CFR 240.18a-7(d)(2), as applicable. {5}------------------------------------------------ ![](_page_5_Picture_0.jpeg) Sandler & Company, P.C. Certified Public Accountants and Advisors 144 Gould Street, Suite 204, Needham, MA 02494 www.sandlercpa.com Tel. (781) 455-1480 Fax. (781) 455-6239 Report of Independent Registered Public Accounting Firm To the Stockholders of Wealth Management Resources, Inc. #### Opinion on the Financial Statements We have audited the accompanying statement of financial condition of Wealth Management Resources, Inc. as of December 31, 2021, and the related statements of operations, changes in stockholders' 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 Wealth Management Resources, Inc. 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 of America. #### Basis for Opinion These financial statements are the responsibility of Wealth Management Resources, Inc.'s management. Our responsibility is to express an opinion on Wealth Management Resources, Inc.'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 Wealth Management Resources, Inc. 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 risk 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 overal presentation of the financial statements. We believe that our audit provides a reasonable basis for our opinion. {6}------------------------------------------------ #### Supplemental Information The supplemental information including Schedule I, Computation of Net Capital Under Rule 15c3-1, Schedule II, Computation for Determination of Reserve Requirements Under SEC Rule 15c3-3, and Schedule III, Information Relating to Possession or Control Requirements Under SEC Rule 15c3-3, has been subjected to audit procedures performed in conjunction with the audit of Wealth Management Resources, Inc.'s financial statements. The supplemental information is the responsibility of Wealth Management Resources, Inc.'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, the supplemental information in Schedules I, II, and III is fairly stated, in all material respects, in relation to the financial statements as a whole. We have served as Wealth Management Resources, Inc.'s auditor since 2015. Needham, Massachusetts February 22, 2022 {7}------------------------------------------------ # **WEALTH MANAGEMENT RESOURCES, INC. STATEMENT OF FINANCIAL CONDITION December 31, 2021** #### **ASSETS** | Current Assets: | | |-----------------------------------------------------------|---------------| | Cash and cash equivalents | \$
19,689 | | Prepaid expenses | 6,175 | | Investment advisory fees receivable | 500,961 | | Investment securities
(cost basis \$145,113) | 186,528 | | Total Current Assets | 713,353 | | Non-Current Assets: | | | Office furniture and equipment at cost less | | | accumulated depreciation of \$35,376 | 16,334 | | TOTAL ASSETS | \$
729,687 | | LIABILITIES AND STOCKHOLDERS'
EQUITY | | | Current Liabilities: | | | Accounts payable
and accrued expenses | \$
10,484 | | TOTAL LIABILITIES | 10,484 | | Stockholders'
Equity: | | | Common stock -
\$1 par value, authorized 8,000 shares, | | | issued and outstanding 200 shares | 200 | | Additional paid-in capital | 5,000 | | Retained earnings | 714,003 | | TOTAL STOCKHOLDERS'
EQUITY | 719,203 | | TOTAL LIABILITIES AND STOCKHOLDERS'
EQUITY | \$
729,687 | {8}------------------------------------------------ # **WEALTH MANAGEMENT RESOURCES, INC. STATEMENT OF OPERATIONS For the Year Ended December 31, 2021** #### REVENUES: | Investment advisory fees | \$ 1,865,066 | |-----------------------------------------------------|---------------| | Commissions from the sale of mutual fund shares and | | | insurance and annuity products | 281,613 | | Dividend income | 15,126 | | Interest income | 31 | | Realized gain on investment securities | 398 | | Change in unrealized gains and losses on investment | | | securities | 14,609 | | TOTAL REVENUES | 2,176,843 | | EXPENSES: | | | Compensation | | | Salaries | 1,615,042 | | Retirement Plan | 134,558 | | Payroll taxes | 82,201 | | Payroll fees | 1,986 | | Total compensation | 1,833,787 | | Office rent | 42,000 | | Professional fees | 42,683 | | Technology and communication | 40,698 | | Office | 34,800 | | Advertising | 14,660 | | Travel and entertainment | 11,365 | | Regulatory | 11,328 | | Insurance | 10,421 | | Continuing Education | 5,980 | | Utilities | 5,149 | | Depreciation | 3,812 | | Taxes | 2,703 | | Other expenses | 9,940 | | TOTAL EXPENSES | 2,069,326 | | NET INCOME | \$
107,517 | | | | {9}------------------------------------------------ # **WEALTH MANAGEMENT RESOURCES, INC. STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY For the Year Ended December 31, 2021** | | Common Stock | | | | Additional
Paid-In | Retained
Earnings | | Total
Stockholders'
Equity | | |-------------------------------|--------------|--------|-----|---------|-----------------------|----------------------|----------|----------------------------------|----------| | | Shares | Amount | | Capital | | | | | | | Balance at beginning of year | 200 | \$ | 200 | \$ | 5,000 | \$ | 632,244 | \$ | 637,444 | | Net income | | | | | | | 107,517 | | 107,517 | | Distributions to stockholders | | | | | | | (25,758) | | (25,758) | | Balance at end of year | 200 | \$ | 200 | \$ | 5,000 | \$ | 714,003 | \$ | 719,203 | {10}------------------------------------------------ # **WEALTH MANAGEMENT RESOURCES, INC. STATEMENT OF CASH FLOWS For the Year Ended December 31, 2021** | Cash Flows from Operating Activities: | | |-------------------------------------------------------------------|---------------| | Net income | \$
107,517 | | Adjustments to reconcile net income
to net cash | | | flow
from
operating activities: | | | Depreciation | 3,812 | | Change in unrealized gains and losses on
investment securities | (14,609) | | Dividends reinvested | (15,126) | | Proceeds from liquidation of investment | 7,593 | | Realized gain on investment securities | (398) | | Changes in operating assets and liabilities: | | | Increase
in accounts receivable | (95,517) | | Increase in prepaid expenses | (2,875) | | Increase in accounts payable | 242 | | Net Cash used by
Operating Activities | (9,361) | | Cash Flows from Financing Activities
- | | | Distributions to stockholders | (25,758) | | Net decrease
in cash and cash equivalents | (35,119) | | Cash and cash equivalents, beginning
of the year | 54,808 | | Cash and cash equivalents, end of the year | \$
19,689 | ## **Non-cash Investing Activity** During the year dividend income of \$15,126 from the mutual fund investments was automatically reinvested to purchase mutual fund shares. {11}------------------------------------------------ # **WEALTH MANAGEMENT RESOURCES, INC. NOTES TO FINANCIAL STATEMENTS December 31, 2021** # **Note 1: Summary of Significant Accounting Policies** **Nature of Business -** Wealth Management Resources, Inc. ("the Company"), a Rhode Island Corporation, was formed in 1994. The Company is registered with the Securities and Exchange Commission ("SEC") as a broker/dealer and as an investment advisor. The Company is a member of the Financial Industry Regulatory Authority. The Company earns fees for investment advisory services, charged as a percentage of assets under management. The Company earns commissions from sales of several types of investments, including shares of mutual funds and other securities, annuities, and various insurance products. **Basis of Accounting -** The Company's financial statements are prepared on the accrual basis and on the basis of accounting principles that are generally accepted in the United States of America. **Revenue Recognition -** The Company earns commissions from sales of several types of investments, including shares of mutual funds and other securities, annuities, and various insurance products. Commissions and related clearing expenses are recorded on the trade date. The Company believes that the performance obligation is satisfied on the trade date because that is when the underlying financial instrument or purchaser is identified, the pricing is agreed upon and the risks of ownership have been transferred to or from the customer. The Company also earns commissions paid by mutual funds over the period of time that the Company's customers continue to hold investments in the mutual funds. The services performed for such commissions are considered to be performed over time as the Company advises its customers to continue holding investments in the mutual funds, and the revenue is therefore recognized at the time payments are earned. The Company provides investment advisory services for many of its customers on a continuing basis. The Company believes the performance obligation for providing advisory services is satisfied over time because the customer is receiving and consuming the benefits as they are provided by the Company. Fee arrangements are based on a percentage applied to the customer's assets under management. Fees are received quarterly and recognized as revenue at that time as they relate specifically to the services provided in each quarter. **Income Taxes -** The Company, with the consent of its stockholders, has elected to be taxed as an S corporation under subchapter S of the Internal Revenue Code. As an S corporation, the Company generally does not pay corporate income taxes. Instead, the Company's stockholders report the taxable income or loss and other items of tax significance on their individual income tax returns. {12}------------------------------------------------ # **WEALTH MANAGEMENT RESOURCES, INC. NOTES TO FINANCIAL STATEMENTS December 31, 2021** # **Note 1: Summary of Significant Accounting Policies (Continued)** # **Income Taxes (Continued)** Management believes that it is more likely than not that its position regarding the Company's S Corporation status would be sustained upon examination. Accordingly, the Company's financial statements do not reflect a liability for income taxes. The Company's federal and state income tax returns are subject to examination by taxing authorities for a period of three years from the date they are filed. The earliest year still open and subject to examination is 2018. **Investment Securities** —Investment securities are carried at fair value. Gains or losses realized upon sale of the investments are included in net income, as are the changes in unrealized gains and losses during the reporting period. **Fair Value Measurements —** Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability in the most advantageous market in an orderly transaction between market participants on the measurement date. The Company is required to classify its fair value measurements based on a hierarchy of valuation inputs as follows: Level 1 Quoted prices in active markets for identical assets and liabilities. Level 2 Quoted prices for securities in markets that are not active; quoted prices in active markets for securities which are not identical to those being valued; inputs other than quoted prices that are observable for the asset or liability being valued, either directly or indirectly. Level 3 Prices or valuations that require inputs that are both significant to the fair value measurements and unobservable. **Use of Estimates -** The preparation of financial statements in conformity with generally accepted accounting principles 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 revenues and expenses during the reported period. Actual results could differ from those estimates. {13}------------------------------------------------ # **WEALTH MANAGEMENT RESOURCES, INC. NOTES TO FINANCIAL STATEMENTS December 31, 2021** #### **Note 1: Summary of Significant Accounting Policies (Continued)** **Office Furniture and Equipment —** Property and equipment are recorded at cost. Depreciation is computed using the straight-line method over the useful lives of the assets, ranging from three to ten years as follows: | Assets | Life | |------------------------------------|------------| | Computer Equipment | 3-5 Years | | Furniture & Other Office Equipment | 7-10 Years | **Cash and Cash Equivalents -** The Company has defined cash equivalents to include cash held at broker. #### **Note 2**: **Investment Advisory Fees Receivable** Accounts receivable of \$500,961 at December 31, 2021 represent amounts due for investment advisory fees from customers and are considered fully collectible. Fees are collected on a quarterly basis in arrears. ## **Note 3: Net Capital Requirements** The Company is subject to the Securities and Exchange Commission Unified Net Capital Rule (SEC Rule 15c3-1), which requires the maintenance of minimum net capital and requires that the ratio of aggregate indebtedness to net capital, both as defined, shall not exceed 15 to 1. At December 31, 2021, the Company had net capital of \$168,169, which was \$163,139 in excess of its required net capital requirement of \$5,000. The Company's ratio of aggregate indebtedness to net capital was .0624 to 1. ## **Note 4: Leases** The Company's lease for office space with monthly rental of \$3,900 expired on April 30, 2021. The Company entered into a new lease effective on May 1, 2021 with a one-year term and rent of \$3,300 per month. A security deposit of \$3,300 was carried over from the previous lease to the new lease. The Company has accounted for both leases as operating leases, with rent charged to expense as it is paid. Rent expense for 2021 consists of the following: | Rent under previous lease January –
April 2021 | 15,600 | |---------------------------------------------------|-----------| | Rent under new lease May –
December 2021 | 26,400 | | Total rent expense | \$ 42,000 | {14}------------------------------------------------ # **WEALTH MANAGEMENT RESOURCES, INC. NOTES TO FINANCIAL STATEMENTS December 31, 2021** # **Note 4: Leases (Continued)** In December 2021 the Company entered into a new lease that superseded the lease which commenced in May 2021. The new lease is effective as of January 1, 2022, and provides for expanded space at the same location, a one-year term ending on December 31, 2022, and monthly rental of \$3,800 (\$45,600 per year). The new lease has a single option to renew for one year, at a rent to be determined prior to expiration of the initial lease term # **Note 5: Market and Credit Risk** Market risk is the potential loss the Company may incur as a result of changes in the fair value of its investment securities. The value of marketable securities is subject to the risk of unfavorable movements in market prices. The Company has investment advisory fees receivable due from SEI and Charles Schwab, the custodians of investment accounts belonging to the Company's clients. Such fees are charged to the client accounts at the end of each quarter, and are typically remitted by SEI and Charles Schwab. The Company maintains its cash balances at a bank and broker. These balances are currently insured by the Federal Deposit Insurance Corporation up to \$250,000. As of December 31, 2021, cash balances of \$19,689 are federally insured. # **Note 6: Investment Securities** The Company invests in securities for its own account. The securities are held for the Company by the brokerage firm Charles Schwab. Investment securities at December 31, 2021 consists of the following, at fair value: | Mutual funds -
equities | \$158,509 | |-----------------------------------|------------| | Mutual fund -
bonds | 6,427 | | Exchange traded funds -
equity | 21,592 | | | \$ 186,528 | Shares in the mutual fund investments may be redeemed at any time. Their fair value is determined by the net asset value per share as of the last day of the year, which is the price at which the funds offer and redeem their shares. Fair value of exchange traded funds is determined by the market price at the end of the last day of the year. Fair value measurements at December 31, 2021 are summarized as follows: | | Level 1 | Level 2 | | Level 3 | | Total | | |-----------------------|-----------|---------|---|---------|---|-----------|--| | Investment securities | \$186,528 | \$ | - | \$ | - | \$186,528 | | {15}------------------------------------------------ # **WEALTH MANAGEMENT RESOURCES, INC. NOTES TO FINANCIAL STATEMENTS December 31, 2021** # **Note 7: Retirement Plan** The Company has a defined contribution 401(k) retirement plan under which the Company funds a matching contribution not to exceed 4% of employee compensation. The Company may also make a discretionary profit sharing contribution. The Company's contributions to the plan in 2021 totaled \$130,000 which is included in compensation expense on the statement of operations. # **Note 8: Subsequent Events** Management has evaluated subsequent events through February 22, 2022, the date on which the financial statements were available to be issued, and has determined that there are no subsequent events that require adjustment of or disclosure in the financial statements. {16}------------------------------------------------ ## SUPPLEMENTARY INFORMATION {17}------------------------------------------------ # **WEALTH MANAGEMENT RESOURCES, INC. SCHEDULE I COMPUTATION OF NET CAPITAL UNDER RULE 15c3-1 OF THE SECURITIES AND EXCHANGE COMMISSION As of December 31, 2021** #### **Net Capital** | Deductions and/or charges Non-allowable assets: | | |----------------------------------------------------------------------------|---------------| | Office furniture and equipment, at cost-net
of accumulated depreciation | (16,334) | | Prepaid expenses | (6,175) | | Accounts receivable | (500,961) | | Net Capital, Before Haircuts on Securities Portion | 195,733 | | Haircuts on securities: | | | Marketable securities | (27,594) | | Net Capital | \$
168,139 | | Aggregate Indebtedness | | | Items included in statement of financial condition: | | | Accounts payable
and accrued expenses | \$
10,484 | | Total Aggregate Indebtedness | \$
10,484 | | Computation of Basic Net Capital Requirements | | | Minimum net capital required | \$
5,000 | | Net capital in excess of requirement | \$
163,139 | | Net capital less greater of 10% of aggregate indebtedness or
120% of | | | minimum dollar net capital | \$
162,139 | | Ratio of aggregate indebtedness to net capital | .062
to 1 | There are no material differences between the computation of net capital above and the computation of net capital in the Company's corresponding unaudited X-17A-5 Part IIA filing. {18}------------------------------------------------ # **WEALTH MANAGEMENT RESOURCES, INC. SCHEDULE II COMPUTATION OF RESERVE REQUIREMENTS UNDER RULE 15c3-3 OF THE SECURITIES AND EXCHANGE COMMISSION As of December 31, 2021** The company is exempt from SEC rule 15c3-3 pursuant to the exemptive provisions under sub-paragraph (k)(1) and, therefore, is not required to maintain a "Special Reserve Bank Account for the Exclusive Benefit of Customers." {19}------------------------------------------------ # **WEALTH MANAGEMENT RESOURCES, INC. SCHEDULE III INFORMATION RELATING TO POSSESSION OR CONTROL REQUIREMENTS UNDER RULE 15c3-3 OF THE SECURITIES AND EXCHANGE COMMISSION As of December 31, 2021** The company had no items reportable as customers' fully paid securities: (1) not in the Company's possession or control as of the audit date (for which instructions to reduce to possession or control had been issued as of the audit date) but for which the required action was not taken by the Company within the time frames specified under Rule 15c3-3 or (2) for which instructions to reduce to possession or control had not been issued as of the audit date, excluding items arising from "temporary lags which result from normal business operations" as permitted under Rule 15c3-3. {20}------------------------------------------------ ![](_page_20_Picture_0.jpeg) Sandler & Company, P.C. Certified Public Accountants and Advisors 144 Gould Street, Suite 204, Needham, MA 02494 | www.sandlercpa.com Tel. (781) 455-1480 Fax. (781) 455-6239 #### Report of Independent Registered Public Accounting Firm To the Stockholders of Wealth Management Resources, Inc. We have reviewed management's statements included in the accompanying Exemption Report in which (1) Wealth Management Resources, Inc. identified the following provision of 17 C.F.R. Section 15c3-3(k) under which Wealth Management Resources, Inc. claimed an exemption from 17 C.F.R. Section 240.15c3-3: (1) (the "exemption provision") and (2) Wealth Management Resources, Inc. stated that Wealth Management Resources, Inc. met the identified exemption provision throughout the most recent fiscal year without exception. Wealth Management Resources, Inc.'s management is responsible for compliance with the exemption provision 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 Wealth Management Resources, Inc.'s compliance with the exemption provision. 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 provisions set forth in paragraph (k)(1) of Rule 15c3-3 under the Securities Exchange Act of 1934. Needham, Massachusetts February 22, 2022 -18- {21}------------------------------------------------ # WEALTH MANAGEMENT RESOURCES, INC. EXEMPTION REPORT PURSUANT to RULE 15c3-3 OF THE SECURITIES AND EXCHANGE COMMISSION FOR THE YEAR ENDED DECEMBER 31, 2021 Wealth Management Resources Inc. is a registered broker-dealer subject to Rule 17a-5 promulgated by the Securities and Exchange Commission (17 C.F.R. §240.17a5, "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)(1) and (4). To the best of its knowledge and belief, the Company states the following: - (1) The Company claimed an exemption from 17 C.F.R §240.15c3-3 under the following provision of 17 C.F.R \$240.15c3-3 : (k)(1). - (2) The Company met the identified exemption provision in 17 C.F.R §240.15c3- 3(k)(1) for the most recent fiscal year without exception. Wealth Management Resources Inc. I, Arthur C. Everly, swcar or affirm that, to my best knowledge and belief, this Exemption Report is true and correct By Title: President Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.