# KOEHLER FINANCIAL, LLC X-17A-5 (2026-03-03) — Broker-dealer annual report - Company: KOEHLER FINANCIAL, LLC - Form: X-17A-5 - Filed: 2026-03-03 - Period: 2025-12-31 - Accession: 0001099673-26-000005 - CIK: 1099673 - File #: 8-52190 - Type: Broker-dealer - Material weakness: No - Auditor: FAUST, THOMAS - Auditor location: LAFAYETTE, IN - Contact: ERICA L MOMANY - Phone: 269-429-0650 - Email: koehlerfinancialllc@koehlerfinancial.com - Website: koehlerfinancial.com - Signed by: ERICA L MOMANY (Sole Member) Original filing: https://www.sec.gov/Archives/edgar/data/1099673/000109967326000005/2025_ANNUAL_AUDIT_1.pdf --- {0}------------------------------------------------ | | UNITED STATES | OMB APPROVAL | |---------------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------|----------------------------------------------------| | SECURITIES AND EXCHANGE COMMISSION | | OMB Number: 3235-0123
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hours per response: 12 | | | ANNUAL REPORTS | | | | FORM X-17A-5 | SEC FILE NUMBER | | | PART IIШ | 8-48431 | | | | | | | 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 | 01/01/25
AND ENDING | 12/31/25 | | | MM/DD/YY | MM/DD/YY | | | A. REGISTRANT IDENTIFICATION | | | NAME OF FIRM: | Koehler Financial, LLC | | | TYPE OF REGISTRANT (check all applicable boxes): | | | | Broker-dealer | Security-based swap dealer | Major security-based swap participant | | Check here if respondent is also an OTC derivatives dealer | | | | ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use a P.O. box no.) | | | | 5764 James Dr. | | | | | (No. and Street) | | | Stevensville | Michigan | 49127 | | (City) | (State) | (Zip Code) | | PERSON TO CONTACT WITH REGARD TO THIS FILING | | | | Erica Momany | 269 429-0650 | koehlerfinancialllc@koehlerfinancial.com | | (Name) | (Area Code - Telephone Number) | (EmailAddress) | | | B. ACCOUNTANT IDENTIFICATION | | | | INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing* | | | | Thomas Faust, CPA, LLC d/b/a Thomas Faust, CPА | | | | (Name - if individual, state last, first, and middle name) | | | 174 Coldbrook Ct. | Lafayette | Indiana 47909 | | (Address) | (City) | (State)
(Zip Code) | | 02/14/18 | | 6479 | | (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 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. {1}------------------------------------------------ ![](_page_1_Figure_0.jpeg) (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 certain portions of this filing, see 17 CFR 240.17a-5(e)(3) or 17 CFR 240.18a-7(d)(2), applicable. as {2}------------------------------------------------ # THOMAS FAUST, СРА Certified Public Accountant 174 Coldbrook Ct. Lafayette, Indiana 47909 765 267-1156 thomasfaustcpa2@gmail.com To the Member Koehler Financial, LLC In connection with my audit of the financial statements and supplemental information of Koehler Financial, LLC, (the "Firm") for the year ended December 31, 2025 Iwill issue my report thereon dated February 14, 2026. Professional standards require that I provide you with the following information related to my audit. ## Significant and Critical Accounting Policies and Practices Management is responsible for the selection and use of appropriate accounting policies. In accordance with the terms of engagement letter, I will advise management about the appropriateness of accounting policies and their application. The Firm's significant accounting policies are disclosed in the notes to the financial statements as required by generally accepted accounting principles pursuant to Rule 17a-5 under the Securities and Exchange Act of 1934. No new accounting policies were adopted, and the application of existing accounting policies was not changed the year ended December 31, 2025. I noted no transactions entered into by the Firm during the year for which accounting policies are controversial or for which there is a lack of authoritative guidance or consensus or diversity in practice. Critical accounting policies and practices are those that are both most important to the portrayal of the Firm's financial condition and results, and require management's most difficult, subjective, or complex judgments, often as a result of the need to make estimates about the effects of matters that are inherently uncertain. The critical accounting policies used by the Firm during the year ended December 31, 2025 in its financial statements are described in Note 1 to the financial statements and relate to the policies the Firm uses to account for accounting policies and procedures. ### Critical Accounting Estimates Accounting estimates are an integral part of the financial statements prepared by management and are based on management's knowledge and experience about past and current events and assumptions about future events. Critical accounting estimates are estimates for which (1) the nature of the estimate is material due to the levels of subjectivity and judgment necessary to account for highly uncertain matters or the susceptibility of such matters to change and (2) the impact of the estimate on financial condition or operating performance is material. The Firm's does have any critical accounting estimates that were used in their preparation of their financial statements. ### Significant Unusual Transactions For purposes of this letter, professional standards define significant unusual transactions as transactions that are outside the normal course of business for the Firm or that otherwise appear to be unusual due to their timing, size, or nature. I noted no significant unusual transactions during my audit. ### Related-Party Relationships and Transactions As part of my audit, I evaluated the Company's identification of, accounting for, and disclosure of the Company's relationships and transactions with related parties as required by professional standards. noted no related parties or related-party relationships or transactions that were previously undisclosed to me; significant related-party transactions that have not been approved in accordance with the Company's policies or procedures or for which exceptions to the Company's policies or procedures were granted; or significant related-party transactions that appeared to lack abusiness purpose. Koehler Financial, LLC {3}------------------------------------------------ ## Quality of the Firm's Financial Reporting Management is responsible not only for the appropriateness of the accounting policies and practices, but also for the quality of such policies and practices. My responsibility under professional standards is to evaluate the qualitative aspects of the Firm's accounting practices, including potential bias in management's judgments about the amounts and disclosures in the financial statements, and to communicate the results of my evaluation and my conclusions to you. I have determined that the Firm has established and maintains proper policies and procedures to produce quality financial reports and financial reporting. ## Uncorrected and Corrected Misstatements Professional standards require me to accumulate misstatements identified during the audit, other than those that are clearly trivial, and to communicate accumulated misstatements to management. I found none during my audit procedures. If I did identify such misstatements, I would have presented a schedule that summarizes the uncorrected misstatements to management and any corrected misstatements, other than those that would be clearly trivial, that, in my judgment, may not have been detected except through my auditing procedures. In my judgment, I identified no misstatements that should have been corrected, either individually or in the aggregate, that would indicate matters that could have asignificant effect on the Firm's financial reporting process. ## Auditor's Report In connection with the audit of the financial statements, I have provided you a draft of my auditor's report. ## Exceptions to Exemption Provisions In connection with my review of the Firm's Exemption Report, I did not identify any exceptions to the exemption provisions that would cause the Firm's assertions not to be fairly stated, in all material respects. ## Disagreements with Management For purposes of this letter, professional standards define a disagreement with management as a matter, whether or not resolved to my satisfaction, concerning afinancial accounting, reporting, or auditing matter that could be significant to the financial statements or the auditor's report. I am pleased to report that no disagreements with management arose during the course of my audit. ## Difficulties Encountered in Performing the Audit I encountered no significant difficulties in dealing with management in performing and completing my audit. ## Supplemental Information Based on the regulatory requirements of SEC Rule 17a-5, the Firm presents in the audit report various supplemental information, that accompanies the financial statements. I subjected that supplemental information to audit procedures in accordance with PCAOB Auditing Standard No. 17, Auditing Supplemental Information Accompanying Audited Financial Statements. Based on my audit procedures performed, the supplemental information is fairly stated, in all material respects, in relation to the financial statements as a whole. {4}------------------------------------------------ This information is intended solely for the use of the Audit Committee, Board of Directors, and management of the Firm and is not intended to be, and should not be, used by anyone other than these specified parties. Thomas Faust, CРА Lafayette, Indiana February 14, 2026 Koehler Financial, LLC ![](_page_4_Picture_5.jpeg) {5}------------------------------------------------ # KOEHLER FINANCIAL, LLC REPORT ON AUDIT OF FINANCIAL STATEMENTS DECEMBER 31, 2025 {6}------------------------------------------------ ### KOEHLER FINANCIAL, LLC TABLE OF CONTENTS Report of Independent Registered Public Accounting Firm Financial Statements: Statement of Financial Condition Statement of Income Statement of Changes in Member's Equity Statement of Cash Flows Notes to the Financial Statements Schedule I: Computation of Net Capital Under SEC Rule 15c3-1 {7}------------------------------------------------ # THOMAS FAUST, CPA Certified Public Accountant 174 Coldbrook Ct. Lafayette, IN 47909 765 267-1156 thomasfaustcpa2@gmail.com ## REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Member Koehler Financial, LLC ## Opinion on the Financial Statements I have audited the accompanying statement of financial condition of Koehler Financial, LLC, as of December 31, 2025, the related statements of income, changes in member's equity, and cash flows for the year then ended, and the related notes and schedule (collectively referred to as the financial statements). In my opinion, the financial statements present fairly, in all material respects, the financial position of Koehler Financial, LLC as of December 31, 2025 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 Koehler Financial, LLC's management. My responsibility is to express an opinion on Koehler Financial statements based on my audit. I am a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and am required to be independent with respect to Koehler Financial, 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 has been subjected to audit procedures performed in conjunction with the audit of Koehler Financial, LLC's financial statements. The supplemental information is the responsibility of Koehler Financial, LLC's management. My audit procedures included determining whether the supplemental information reconciles to the financial statements or the underlying 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. §250.17a-5. In my opinion. Schedule I, Computation of Net Capital Under SEC Rule 15c3-1, is fairly stated, in all material respects, in relation to the financial statements as a whole. {8}------------------------------------------------ Thomas Faust, CPA, LLC d/b/a Thomas Faust, CPA I have served as the Company's auditor since 2018. Lafayette, Indiana February 14, 2026 {9}------------------------------------------------ # KOEHLER FINANCIAL, LLC STATEMENT OF FINANCIAL CONDITION AS OF DECEMBER 31, 2025 | ASSETS | | | |---------------------------------------|----|---------| | CURRENT ASSETS | | | | Cash | S | 201,536 | | Accounts receivable | | 32,226 | | TOTAL CURRENT ASSETS | | 233,762 | | LIABILITIES AND MEMBERS' EQUITY | | | | LIABILITIES | | | | Accounts payable | | | | TOTAL LIABILITIES | | | | | | | | MEMBER'S EQUITY | | | | Member's Equity | | 233,762 | | TOTAL MEMBER'S EQUITY | | 233,762 | | TOTAL LIABILITIES AND MEMBER'S EQUITY | ಕೆ | 233,762 | THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THE FINANCIAL STATEMENTS KOEHLER FINANCIAL, LLC {10}------------------------------------------------ # KOEHLER FINANCIAL, LLC STATEMENT OF INCOME FOR THE YEAR ENDED DECEMBER 31, 2025 | REVENUE | | | |---------------------------|----|---------| | Fee revenues | \$ | 287,534 | | TOTAL REVENUE | | 287,534 | | | | | | EXPENSES | | | | Employee compensation | | 6,000 | | Occupancy | | 6,840 | | Regulatory and compliance | | 6,857 | | Professional fees | | 7,595 | | Administrative expenses | | 2,555 | | TOTAL EXPENSES | | 29,847 | | | | | | NET INCOME | S | 257,687 | | | | | THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THE FINANCIAL STATEMENTS KOEHLER FINANCIAL, LLC {11}------------------------------------------------ # KOEHLER FINANCIAL, LLC STATEMENT OF CHANGES IN MEMBER'S EQUITY FOR THE YEAR ENDED DECEMBER 31, 2025 | MEMBER'S EQUITY AT BEGINNING OF YEAR | S | 186,228 | |--------------------------------------|---|---------| | Net income | | 257,687 | | Member contributions | | 9.847 | | Member distributions | | 220,000 | | | | | | MEMBER'S EQUITY AT END OF YEAR | e | 233,762 | {12}------------------------------------------------ # KOEHLER FINANCIAL, LLC STATEMENT OF CASH FLOWS FOR THE YEAR ENDED DECEMBER 31, 2025 | CASH FLOWS FROM OPERATING ACTIVITIES
Net Income | ea | 257,687 | |-------------------------------------------------------------------|----|-----------| | Adjustments to reconcile net income to net cash provided by | | | | Operating activities:
(Increase) decrease in operating assets: | | | | Accounts receivable | | (2,975) | | Net Cash Provided by Operating Activities | | 254,712 | | CASH FLOWS FROM INVESTING ACTIVITIES | | | | Member contributions | | 9,847 | | Member distributions | | (220,000) | | Net Cash Provided By (Used In) Investing Activities | | (210,153) | | NET INCREASE IN CASH | | 44,559 | | CASH AT BEGINNING OF YEAR | | 156,977 | | CASH AT END OF YEAR | 69 | 201,536 | | SUPPLEMENTAL CASH FLOW DISCLOSURES | | | | Cash paid during the year for: | | | | Income Taxes | S | | | Interest | 69 | | THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THE FINANCIAL STATEMENTS KOEHLER FINANCIAL, LLC {13}------------------------------------------------ ### NOTE 1: ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES A summary of the Firm's significant accounting policies consistently applied in the preparation of the accompanying financial statements are as follows: - a. Nature of Operations- Koehler Financial, LLC (the Firm) was formed on October 8, 1999 as a limited liability company in the state of Michigan. The Firm is a registered securities broker-dealer with the Securities and Exchange Commission (SEC) and is a member of the Financial Industry Regulatory Authority (FINRA). The Firm is a single member (of Koehler Financial Services, Inc.), and its only line of business as a broker-dealer involves agency transactions. Accordingly, the Firm operates under the exemptive provision of the SEC Rule 15c-3-3(k)(1). Its customers are located primarily in Southwestern Michigan. - b. Segment Reporting-The Firm is engaged in a single line of business as a securities broker-dealer which is comprised of mutual funds and variable annuities described in Note 1. The Firm has identified its Sole Member 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 Firm. Additionally, the CODM uses excess net capital (see Note 6), which is not a measure of profit and loss, to make operational decisions while maintaining capital adequacy, such as whether to maintain profits or pay distributions. The Firm's operations constitute a single operating segment and therefore, a single reportable segment, because the CODM manages the business activities using information of the Firm as a whole. The accounting policies used to measure the profit and loss of the segment are the same as those described in the policies listed below. - c. Cash Equivalents-For purposes of the statements of cash flows, the Firm considers all highly liquid debt instruments with maturities of three months or less when purchased to be cash equivalents. There were no cash equivalents at December 31, 2025. - d. 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, the 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. - e. Concentrations of Credit Risk-The Firm places its cash in accounts with a local financial institution. At times, balances in these accounts may be exceed FDIC insured limits. The Firm is engaged in various brokerage activities whose counterparties primarily include mutual fund companies, insurance companies, and other financial institutions. In the event counterparties do not fulfill their obligations, the Firm may be exposed to risk of default depends on the creditworthiness of the counterparty or issuer of the instrument. It is the Firm's policy to review, as necessary, the credit standing of each counterparty with which it conducts business. The Firm sells its products to various customers located near its principal office, primarily in Southwest Michigan. - f. Accounts Receivable- Accounts Receivable consists of fees and other amounts owed to the Firm. The Firm, on a periodic basis evaluates its accounts receivable and establishes an allowance for doubtful accounts, based on history of past write-offs and collections and current credit conditions. The Firm considers accounts receivable to be fully collectible; accordingly, no allowance for doubtful accounts currently is provided. Uncollectible accounts receivable are charges directly against operations when they are determined to be uncollectible. Use of this method does not result in a material difference from the valuation method required based on history of past write-offs and collections and current credit conditions. The Firm considers accounts receivable to be fully collectible; accordingly, no allowance for doubtful accounts currently is provided. Uncollectible accounts receivable are charges directly against operations when they are determined to be uncollectible. Use of this method does not result in a material difference from the valuation method required. {14}------------------------------------------------ #### NOTE 2: TRANSACTIONS WITH AFFILIATED ENTITY The Firm is wholly owned by Koehler Financial Services, Inc (the Parent). The Firm has an annual agreement to share office space and certain administrative expenses with the Parent. Additionally, the Parent pays all direct expenses on behalf of the Firm. #### NOTE 3: EXEMPTION UNDER RULE 15c3-3 The Firm claims an exemption under Rule 15c3-3 in accordance with the provision of paragraph (k) (1) "Limited business (mutual funds and /or variable annuities only)". During the year ended December 31, 2025 there were no amounts to be reported pursuant to the possession or control requirements under Rule 15c3-3, and the Firm is in compliance with their stated exemptive provisions, and thus is exempt from the provisions of Rule 15c3-3. #### NOTE 4: INCOME TAX EXPENSE As a limited liability company, the Firm is treated as a partnership for federal income tax purposes. Consequently, federal income taxes are not payable by, or provided for, the Firm. The single member owner is taxed individually on its share of the Firm's earnings. The Firm is subject to certain state taxes. No provision for state income taxes is required at December 31, 2025. Accounting principles generally accepted in the United State of America require the Firm to examine its tax positions for uncertain positions. Management is not aware of any tax positions that are more likely than not to change in the next twelve months or that would not sustain an examination by applicable taxing authorities. The Firm's policy is to recognize penalties and interest as incurred in its Statement of Income, there were none for the years ended December 31, 2025. The firm's federal and state income tax returns for 2022 through 2025 are subject to examination by the applicable tax authorities, generally for three years after the later of the original or extended due date. ### NOTE 5: ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES The Firm adopted the provisions of FASB ASC Topic 605, "Accounting for Uncertainty in Income Taxes". Benefits from tax positions are recognized in the financial statements only when it is more likely than not that the tax position will be sustained upon examination by the appropriate taxing authority that would have full knowledge of all relevant information. Recognized income tax positions are measured at the largest amount that has a greater than 50% likely of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. Based on its current evaluation, the Firm has concluded that there are no significant uncertain tax positions requiring recognition in the Firm's financial statements. {15}------------------------------------------------ #### NOTE 6: NET CAPITAL REQUIREMENTS The Firm is subject to the Securities and Exchange Commission Uniform Net Capital Rule (Rule 15c3-1), which requires the maintenance of a minimum net capital balance. The minimum dollar amount for the Firm is \$5,000. At December 31, 2025, the Firm's net capital was \$201,701, its excess net capital was \$196,701, and its net capital in excess of its minimum net capital requirement was \$195,701. ### NOTE 7: FILING REQUIREMENTS There were no liabilities subordinated to claims of creditors during the year ended December 31, 2025. Accordingly, no Statement of Changes in Liabilities Subordinated to Claims of Creditors has been included in these financial statements as required by rule 17a-5 of the Securities and Exchange Commission. #### NOTE 8: COMMITMENTS AND CONTINGENCIES Management has evaluated possible commitments and contingencies at December 31, 2025. They concluded that there were no commitments or contingencies that would require recognition in the financial statements or disclosure in the related notes to the financial statements. #### NOTE 9: SUBSEQUENT EVENTS The Firm's management has evaluated subsequent events through the date of this report, and concluded that no subsequent events have occurred that would require recognition in the financial statements or disclosure in the related notes to the financial statements. {16}------------------------------------------------ # KOEHLER FINANCIAL, LLC SCHEDULE I: COMPUTATION OF NET CAPITAL UNDER SEC RULE 15c3-1 AS OF DECEMBER 31, 2025 ## COMPUTATION OF NET CAPITAL | Total ownership equity from Statement of Financial Condition | | 233,762 | |----------------------------------------------------------------------|----|----------| | Less nonallowable assets from Statement of Financial Condition | | (32,061) | | Net capital before haircuts on securities positions | | 201,701 | | Haircuts on securities | | | | Net Capital | 6 | 201,701 | | | | | | Aggregate Indebtedness | A | | | Net capital required based on aggregate indebtedness (6-2/3%) | | | | | | | | COMPUTATION OF BASIC NET CAPITAL REQUIREMENTS | | | | Minimum dollar net capital requirement of reporting broker or dealer | | 5,000 | | Excess Net Capital | S | 196,701 | | | | | | COMPUTATION OF AGGREGATE INDEBTEDNESS | | | | (A) - 10% of total aggregate indebtedness | | | | (B) - 120% of minimum net capital requirement | | 6,000 | | Net Capital less the greater of (A) or (B) | \$ | 195,701 | | | | | | | | | | Percentage of Aggregate Indebtedness to Net Capital | | 0.00% | # FOCUS PART IIA RECONCILIATION BETWEEN AUDITED AND UNAUDITED NET CAPITAL At December 31, 2025, there were no material differences between audited net capital above and net capital as reported on the Firm's most recently filed (Unaudited) FOCUS Part IIA. {17}------------------------------------------------ THOMAS FAUST, CPA Certified Public Accountant 174 Coldbrook Ct. Lafayette, IN 47909 (765) 267-1156 thomasfaustcpa2@gmail.com ![](_page_17_Picture_1.jpeg) # REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM The Member Koehler Financial, LLC I have reviewed management's statements, included in the accompanying Exemption report of Broker and Dealers, in which (1) Koehler Financial, LLC, identified the following provisions 17 C.F.R. § 15c3-3(k) under which the Firm claimed an exemption from 17 C.F.R. §2 4 0.15c3-3: (k)(1), and (2) Koehler Financial, LLC stated that Koehler Financial, LLC has met the exemption above mentioned throughout the past fiscal year ending December 31, 2025 without exception. Koehler Financial, LLC's management is responsible for compliance with the exemption provisions 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 Firm's compliance with the exemption provisions. 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 the provisions set forth in paragraph (k)(1) of Rule 15c3-3 under the Securities Exchange Act of 1934. Thomas Faust, CPA, LLC d/b/a Thomas Faust, CPA Lafayette, Indiana February 14, 2026 {18}------------------------------------------------ ![](_page_18_Picture_0.jpeg) January 12, 2026 Exemption Statement with regard to rule 15c3-3 Koehler Financial, LLC. (CRD 103420, SEC file 8-52190) is a \$5,000 minimum net capital non-carry, non-learning broker/dealer and is exempt from reserve requirements, with exemptions, according to rules 15c3-3(k)(1) Limited business (mutual funds and/or variable annuities only). Exemption Report under rule 15c3-3(k)(1) Koehler Financial, LLC. Has met the exemption provisions above mentioned throughout the past fiscal year ending December 31, 2025, without exception. To the best of my knowledge and belief, the above statements are true without exception. Koehler Financial, LLC. Erica L Momany Chief Compliance Officer Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.