# SUPERIOR FINANCIAL SERVICES, INC. X-17A-5 (2022-02-22) — Broker-dealer annual report - Company: SUPERIOR FINANCIAL SERVICES, INC. - Form: X-17A-5 - Filed: 2022-02-22 - Period: 2021-12-31 - Accession: 0001115904-22-000001 - CIK: 1115904 - File #: 8-52618 - Type: Broker-dealer - Material weakness: No - Auditor: Jendrach Accounting and Professional Services, LLC - Auditor location: Greenfield, WI - Contact: William Haese - Phone: 262-677-9036 - Email: bhaese@superiorfmancial.biz - Website: superiorfmancial.biz - Signed by: William R Haese (President) Original filing: https://www.sec.gov/Archives/edgar/data/1115904/000111590422000001/sfs20212.pdf --- {0}------------------------------------------------ #### UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ## **ANNUAL REPORTS FORM X-17A-5 PART** IH OMB APPROVAL OMB Number: 3235-0123 Expires: Oct. 31, 2023 Estimated average burden hours per response: 12 SEC Fil E NUMBER #### 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 | __
_ 0_1_/0_1_/2_0_2_1 | AND ENDING _ | _ 1_21_3_11_2_02_1 _
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_ | |---------------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------------------------------------------------------|--------------|-----------------------------------------| | | MM/00/YY | | MM/00/YY | | | A. REGISTRANT IDENTIFICATION | | | | Superior Financial Services, Inc
NAME OF FIRM: | | | | | TYPE OF REGISTRANT {check all applicable boxes):
0 Broker-dealer
0 Security-based swap dealer
0 Check here if respondent is also an OTC derivatives dealer | | | 0 Major security-based swap participant | | ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use a P.O. box no.) | | | | | | N168W21931 Main Street | | | | | (No. and Street) | | | | Jackson | WI | | 53037 | | (City) | (State) | | (Zip Code) | | PERSON TO CONTACT WITH REGARD TO THIS FILING | | | | | William R. Haese | 262-677-9036 | | BHaese@superiorfmancial.biz | | {Name) | {Area Code- Telephone I\ umber) | | {Email Address) | | | B. ACCOUNTANT IDENTIFICATION | | | | INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing*
Jendrach Accounting and Professional Services, LLC | | | | | | (Name- if individual, state last, first, and middle name) | | | | 4811 South 76th Street, Suite 415 | Greenfield | WI | 53220 | | (Address) | (City) | (State) | (Zip Code) | | 11/4/2014 | | 6056 | | | T'
ofR•gjDA pela | Signature: Title: President #### This filing \*\* contains (check all applicable boxes): - [ (a) Statement of financial condition. - [3 (b) Notes to consolidated statement of financial condition. - 1 (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. - [x (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. - 2 (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-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. - [ (p) Summary of financial data for subsidiaries not consolidated in the statement of financial condition. - [q] Oath or affirmation in accordance with 17 CFR 240.17a-5, 17 CFR 240.17a-12, or 17 CFR 240.18a-7, as applicable. - [r] Compliance report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable. - [s) Exemption report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable. - [ {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. - [2 (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. - O (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)(3) or 17 CFR 240.180-7(d)(2), as applicable. {2}------------------------------------------------ ANNUAL AUDIT REPORT December 31, 2021 and 2020 {3}------------------------------------------------ #### REPORT OF TNPEPENJ)ENT REGISTERED f!JBLJC ACCOUNTING FIRM To the Board of Directors of Superior Financial Services, Inc. Milwaukee, Wisconsin #### Opinion on the Financial Statements We have audited the accompanying statement of financial condition of Superior Financial Services, Inc .. as of December 31, 202 I, and the related statements of operation, changes in members' equity, and cash flows for the year then ended. These fmanciai statements are the responsibility of Superior Financial Services, Inc.'s management. Our responsibility is to express an opinion on these fmancial statements based on our audit. In our opinion, the fmancial statements present fairly, in all material respects, the fmancial position of Superior Financial Services, Inc. as of December 31, 2021, and the result of its operations and its cash flow for the year ended December 31, 202 I, in conformity with accounting principles generally accepted in the United States of America. #### Basis for Opinion These fmancial statements are the responsibility of Superior Financial Services, Inc.'s management. Our responsibility is to express an opinion on Superior Financial Services, Inc.'s fmancial 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 Superior Financial Services, 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 Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the fmancial 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 fmancial 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 fmancial statements. Our audit included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the fmancial 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 fmancial statements. We believe that our audit provides a reasonable basis for our opinion. #### Supplemental Information The Computation of Aggregate Indebtedness and Net Capital and Form SIPC-7 have been subjected to audit procedures performed in conjunction with the audit of Superior Financial Services, Inc.'s financial statements. The supplemental information is the responsibility of Superior Financial Services, 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 infonnation, including its fonn and content, is presented in confonnity with 17 C.F.R. §240.17a-5. In our opinion, the Computation of Aggregate Indebtedness and Net Capital and Fonn SIPC-7 is fairly stated, in all material respects, in relation to the fmancial statements as a whole. We have served as Superior Financial Services, Inc.'s auditor since 2016. Jendrach Accounting & Professional Services, LLC Greenfield, Wisconsin February 15, 2022 {4}------------------------------------------------ Statement of Financial Position As of December 31, 2021 and December 31, 2020 | | *December 31, 2021 | | | * December 31, 2020 | | | |-------------------------------------------------------------|--------------------|-----------|--------------|---------------------|-----------|-----------| | | | Non | | | Non | | | Assets | Allowable | Allowable | Total | Allowable | Allowable | Tot al | | Current Assets: | | | | | | | | Cash - note 3 | \$109,706 | | \$109,706 | \$29,164 | | \$29,164 | | Commission and related | | | | | | | | Receivables- note 4 | \$71,390 | \$6,000 | \$77,390 | \$107,572 | \$4, 200 | \$111,772 | | Securities at market | | | | | | | | Other assets | | \$55 | \$55 | | \$30 | \$30 | | Total Current Assets | \$181,096 | \$6,055 | \$187,151 | \$136,736 | \$4,230 | \$140,966 | | | | | | | | | | Other Assets: | | | | | | | | Security Deposit | | | | | | | | wit h Clearing Firm | \$35,000 | | \$35,000 | \$35,000 | | \$35,000 | | TOTAL ASSETS | \$216,096 | \$6,055 | \$222,151 | \$35,000 | \$0 | \$175,966 | | liabilities and Stockholders Equity
Current Liabilities: | | | | | | | | Accounts Payable | | | S3,151 | | | S4,996 | | Loans From Shareholder | | | \$0 | | | so | | Commission payable -note 5 | | | \$114,864 | | | S95,146 | | TOTAL LIABILITIES | | | \$118,015 | | | \$100,142 | | Stockholders Equity: | | | | | | | | Common stock-no par value, 9000 shares authorized; | | | | | | | | 200 shares issued and outstanding | | | SlO,OOO | | | \$10,000 | | Additional paid in capital | | | \$30,266 | | | \$30,266 | | Unrealized capital gain(loss) | | | \$0 | | | so | | Equity distributions | | | \$0 | | | \$0 | | Retained earnings (def icit) | | | S63,870 | | | S35,558 | | TOTAL STOCKHOLDERS EQUITY | | | \$104,136 | | | \$75,824 | | | | | | | | | | TOTAL LIABILITIES AND STOCKHOLDERS EQUITY | | | s
222,151 | | | \$175,966 | {5}------------------------------------------------ ## **SUPERIOR FINANCIAL SERVICES, INC.** Statement of Operations and Retained Earnings (Deficit) For the Years Ended December 31, 2021 and December 31, 2020 | | | | For the Years Ended December 31 | | |-----------|--------------------------------------------------------|---------------------|---------------------------------|-------------| | | | | 2021 | 2020 | | Revenue: | | | | | | | Secuities Commissions- Listed stock | | \$0 | \$0 | | | | OTC Stock | \$160,285 | \$185,647 | | | | Mutual funds | \$188,208 | \$143,494 | | | | Mutual fund trails | \$580,197 | \$547,817 | | | | Municipal 529 Plans | \$8,671 | \$10,407 | | | | Bonds, UITs | \$9,906 | \$39,29S | | | | Options | \$17,504 | \$15,063 | | | Total securities commissions | | \$964,771 | \$941,723 | | | | | | | | | Insurance Commissions | | \$83,139 | \$75,255 | | | Variable Products | | \$309,753 | \$193,356 | | | CD Commission | | \$0 | \$52 | | | Advisory Income | | \$128,287 | \$87,015 | | | TOTAL REVENUES | | \$1,485,950 | \$1,297,401 | | | | | | | | Expenses: | | | | | | | Salaries and payroll taxes | | \$152,876 | \$143,480 | | | Commissions paid | | \$1,280,574 | \$1,121,374 | | | Professional fees | | \$0 | \$132 | | | Rental Expense | | \$24,000 | \$24,000 | | | Network Services | | \$1,215 | \$1,190 | | | Regulatory fees | | \$2,440 | \$1,566 | | | Other general and administrative expenses | | \$1,592 | \$8,516 | | | TOTAL EXPENSES | | \$1,462,697 | \$1,300,258 | | | | | | | | | Operating Income (Loss) | | \$23,253 | (\$2,857) | | | | | | | | | Other Income (Expense}
Interest and dividend income | | \$58 | \$190 | | | Realized asset depreciation (appreciation) | | \$0 | \$0 | | | Other Income WI Dept of Rev pandemic Relief | | | so | | | TOTAL OTHER INCOME (EXPENSE) | | \$5,000
\$5,058 | \$190 | | | | | | | | | Net Income (Loss) for the Year | | \$28,311 | (\$2,667) | | | Retained Earnings (Deficit}- Beginning of Year | | | \$38,224 | | | | | \$35,559 | | | | Equity Distributions | | \$0 | \$0 | | | Retained Earnings (Deficit)- End of Year | | \$63,870 | \$35,559 | {6}------------------------------------------------ ## **SUPERIOR FINANCIAL SERVICES, INC Statement of Cash Flows For The Years Ended December 31, 2021 and December 31, 2020** | | | For the Year Ended December 31 | | | |-------------------------------------------------------|---|--------------------------------|---|----------| | | | 2021 | | 2020 | | Cash flow from Operating Activities | | | | | | Net Income (Loss) | | S28,311 | | {S2,667) | | | | | | | | Adjustments to reconcile net income to net cash | | | | | | provided by operating activities: | | | | | | Amortization | | so | | so | | Change in current assets and liabilities | | | | | | Decrease (increase) in | | | | | | Commissions and related receivables | s | 34,383 | s | 5,017 | | Investment in common stock- trading at cost | | so | | so | | Other Assets | s | (25) | s | {10) | | Increase {decrease) in | | | | | | Accounts Payable | s | {1,845) | s | 1,035 | | Commission payable - note 5 | | S19,718 | | (S5,472) | | Net cash provided for (used for) operating activities | | S80,542 | | (S2,097) | | Cash Flow from Financing Activities | | | | | | Increase in security deposits | | so | | \$0 | | Unrealized capital gain (loss) | | so | | so | | Withdrawal of Ca pital | | so | | so | | Net Cash provided for (used for) financing activities | | so | | so | | Net increase (decrease) in cash | | S80,542 | | (S2,097) | | Cash at beginning of year | | S29,164 | | S31,261 | | Cash at end of year- note 3 | | S109,706 | | S29,164 | {7}------------------------------------------------ ## NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2021 AND DECEMBER 31, 2020 #### Note 1 - Summary of Significant Accounting Policies #### Nature of Operations Superior Financial Services, Inc. introduces and forwards, as a broker, all transactions and accounts of customers to another broker or dealer who carries such accounts on a fully disclosed basis. Superior Financial Services, Inc. promptly forwards all funds received from customers in connection with its activities as a broker. #### Basis of Statement Preparation The company's accounts are maintained on the accrual basis of accounting. As such, revenues are recognized when earned, and expenses and related liabilities are recorded in the period incurred. #### Use of Estimates The preparation of the accompanying financial statements in conformity with generally accepted accounting principles requires management to make certain estimates and assumptions that directly affect the results of reported assets, liabilities, revenue, and expenses. Actual results may differ from thes estimates. #### Uncollectible Accounts No allowance for uncollectible accounts has been provided since it is believed that the balance in accounts receivable is fully collectible. #### Security Valuation Investments in securities traded on a national securities exchange (or reported on NASDAQ national market) are stated at the last reported sales price on the day of valuation. The first-in, first-out method is used to determine the cost of each security at the time of sale. These securities are subject to off balance sheet risk due to the fact that market values are unpredictable. #### Income Taxes Income taxes are not provided for as the company has elected subchapter "S" status. Any tax liability is passed to the shareholders of the company on a prorated basis of ownership. #### Advertising Advertising costs are charged to operations when incurred. #### Subsequent Events Management evaluated subsequent events through February 1, 2022 the date the financial statements were available to be issued. There are no subsequent events that required recognition or disclosure. {8}------------------------------------------------ ## NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2021 AND DECEMBER 31, 2020 #### Note 2 - Corporate History Superior Financial Services, Inc. was incorporated in 2000 and is registered as a licensed broker to deal in securities. #### Note 3 - Cash3 The following is a summary of cash as of December 31, 2021 and December 31 , 2020 | | December 31, 2021 | | December 31, 2020 | | |----------------------|-------------------|---------------|-------------------|----------| | | Allowable | Non-Allowable | Total | Total | | Checking | \$7,803 | \$0 | \$7,803 | \$829 | | Money market | \$101,903 | \$0 | \$101,903 | \$28,335 | | Risk Trading account | \$0 | \$0 | \$0 | \$0 | | Total | \$109,706 | \$0 | \$109,706 | \$29,164 | #### Note 4 - Commissions and Related Receivables The following is a summary of commissions and related receivables as of December 31 , 2021 and December 31, 2020 | December 31, 2021 | | December 31, 2020 | | |-------------------|---------------|-------------------|-----------| | Allowable | Non-Allowable | Total | Total | | \$71,390 | \$6,000 | \$77,390 | \$111,722 | #### Note 5- Related Party Transactions: Due from (to) Associated Company Superior Financial Services, Inc. leases office space on an informal month-to-month basis from an associated company (Haese Financial Group, Inc.) For the years ended December 31 , 2021 and December 31, 2020, rent expense of \$24,000 and \$24,000 per year was incurred, respectively. There were no rents payable as of December 31, 2021 and December 31, 2020 Haese Financial Group, Inc. is a registered investment advisory firm which provides services to concurrent representatives and pays fees to this company in its role as a common paymaster. {9}------------------------------------------------ ## NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2020 AND DECEMBER 31, 2019 #### Note 6 - Income Taxes Superior Financial Services, Inc. has elected Subchapter "S" status, and as such does not incur a tax liability. The owners of the company incur and pay the liability on their personal returns. The Federal income tax returns for Superior Financial Services, Inc. for 2021, 2020 and 2019 are subject to examination by the IRS, generally for three years after the returns are filed. The Wisconsin income tax returns for Superior Financial Services, Inc. for 2021 , 2020, 2019 and 2018 are subject to examination by the Department, generally for four years after the returns are filed. #### Note 7 - Net Capital Superior Financial Services, Inc. introduces and forwards, as a broker, all transactions and accounts of customers to another broker or dealer who carries such accounts on a fully disclosed basis. Superior Financial Services, Inc. promptly forwards all funds received from customers in connection with its activities as a broker. The net capital requirements (in accordance with Section 15c301 of Securities and Exchange Commission Rules) are \$5000, for broker who do not receive securities, and who do not generally carry customers' accounts. Superior Financial services, Inc. has complied with the net capital requirements for the years ended December 31, 2021 and December 31 , 2020. Because Superior Financial Services, Inc. cleared all customers transactions through another broker-dealer on a fully disclosed basis, the Company is exempt from having to the possession or control requirements in accordance with Section 15c3-3 of the SEC Rules. #### Note 8 - Stockholders' Equity For the years ended December 31 , 2021 and December 2020, there were 9,000 shares authorized of no par value common stock. For the years ended December 31, 2021 and 2020, there were 200 shares issued and outstanding respectively. #### Note 9 - Concentration of Credit Risk and Revenue The company maintains its cash at various financial institutions. The balances, at times, may exceed federally insured limits. At December 31 , 2021 and 2020, the company did not exceed the insured limit. #### Note 10 - Disclosures About Fair Value of Financial Instruments The carrying amount of all financial instruments as reported in the accompanying statements of financial position is equal to the fair value for these same financial instruments as of December 31 , 2021 . {10}------------------------------------------------ ## **SUPERIOR FINANCIAL SERVICES, INC. Schedule of Other General and Administrative Expenses For the Years Ended December 31, 2021 and December 31, 2020** | | For the years ended December 31 | | | |-------------------------------------------|---------------------------------|----------|--| | | 2021 | 2020 | | | Other General and Administrative Expenses | | | | | Accounting | S5,850 | S5,090 | | | Advertising | \$0 | so | | | Dues and Subscriptions | -\$7,589 | -\$2,267 | | | Bank fees | \$550 | \$649 | | | Equipment Rental | so | \$0 | | | Insurance | S1,589 | \$513 | | | Interest Expense | \$0 | so | | | RBC Charges | -S1,552 | S1,677 | | | Licenses & Permits | so | S150 | | | Office supplies | so | so | | | Travel & entertainment | \$0 | \$0 | | | Postage | so | so | | | Taxes | \$11 | \$14 | | | Repairs, maintainance | \$0 | so | | | Telephone | S2,733 | S2,690 | | | Total Expenses | S1,592 | \$8,516 | | {11}------------------------------------------------ ## **SUPERIOR FINANCIAL SERVICES, INC. Statement of Changes in Stockholder Equity For the Years Ended December 31, 2021 and December 31, 2020** | | For the years ended December 31 | | | |--------------------------------|---------------------------------|-----------|--| | | 2021 | 2020 | | | Balance at beginning of year | \$75,824 | \$78,491 | | | Add: Net income {loss) | \$28,311 | {\$2,667) | | | Unrealized capital gain {loss) | \$0 | \$0 | | | Changes in Capital | \$0 | \$0 | | | Balance at end of year | \$104,135 | \$75,824 | | ## **Statement of Changes in Liabilities Subordinated to Claims of General Creditors As of December 31, 2021 and December 31, 2020** | | As of December 31 | | | |------------------------------|-------------------|------|--| | | 2021 | 2020 | | | Balance at beginning of year | \$0 | \$0 | | | lncreses | | | | | Decreases | | | | | Balance at end of year | \$0 | \$0 | | {12}------------------------------------------------ ## **SUPERIOR FINANCIAl SERVICES, INC. Computation of Net Capital As of December 31, 2021 and December 31, 2020** | | As of December 31 | | |----------------------------------------------------|-------------------|-----------| | | 2021 | 2020 | | Total stockholders' equity per financial statement | \$104,135 | \$75,824 | | Deduct: Haircuts | \$0 | \$0 | | Deduct: Total nonallowable assets per | | | | statement of financial position | (\$6,055) | (\$4,230) | | Net Capital | \$98,080 | \$71,594 | | | | | ## **Computation of Excess Net Capital Requirement As of December 31, 2021 and December 31, 2020** | As of December 31 | | | |-------------------|-----------|--| | 2021 | 2020 | | | \$98,080 | \$71,594 | | | (\$5,000) | (\$5,000) | | | \$93,080 | \$66,594 | | | | | | {13}------------------------------------------------ ### **Reconciliation of the Unaudited Computation of Net Capital to the Audited Computation of Net Capital As of December 31, 2021 and December 31, 2020** | | As of December 31 | | | |---------------------------------------------------------|-------------------|----------|--| | | 2021 | 2020 | | | Unaudited net capital per focus report | \$98,080 | \$71,594 | | | Adjustments to asset accounts-increase (decrease) Cash | \$0 | \$0 | | | Adjustments t o liability accounts- decrease (increase) | \$0 | \$0 | | | Audited net capital | \$98,080 | \$71,594 | | ## **Reconciliation of the Unaudited Computation of Excess Net Capital Requirement to the Audited Computation of Excess Net Capital Requirement As of December 31, 2021 and December 31, 2020** | | As of December 31 | | | |--------------------------------------------------------|-------------------|----------|--| | | 2021 | 2020 | | | Unaudited Excess Net Capital | \$93,080 | \$66,594 | | | Adjustments to asset accounts-increase (decrease) Cash | \$0 | \$0 | | | Adjustments to liability accounts- decrease (increase) | so | so | | | Audited Excess Net Capital | S93,080 | S66,594 | | #### **Aggregate Indebtedness** | | As of December 31 | | | |----------------------------------------------------------|-------------------|-----------|--| | | 2021 | 2020 | | | Items included in st atement of finanacial position | | | | | Accounts Payable, accured expenses, and other liabilites | \$118,015 | \$100,142 | | | Aggregate Indebtedness | \$118,015 | \$100,142 | | {14}------------------------------------------------ #### **Superior Financial Services, Inc.** December 31, 2021 Auditor Reconciliation of Net Capital and Aggregate indebtedness There were no material differences between net capital or aggregate indebtedness as computed herein and the amount in the conesponding computation prepared by Superior Financial Services, Inc. and included in the Company's unaudited FOCUS report as ofDecember 31,2021. {15}------------------------------------------------ #### REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FJRM To the Board of Directors and Shareholders of Superior Financial Services, Inc. We have reviewed management's statements, included in the accompanying Exemption Report, in which Superior Financial Services, Inc. identified the following provisions of 17 C.F.R. § 15c3-3(k) under which Superior Financial Services, Inc. claimed an exemption from 17 C.F.R. §240.15c3-3 and Superior Financial Services, Inc. stated that Superior Financial Services, Inc. met the identified exemption provisions throughout the most recent fiscal year without exception. Superior Financial Services, Inc. management is responsible for compliance with the exemption provisions and its statements. Ourreview 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 Superior Financial Services, Inc. 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, 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) of Rule l5c3-3 under the Securities Exchange Act of 1934. t.d~ f/1-1~L Jendrach Accounting & Professional Services, LLC February 15, 2022 Greenfield, Wisconsin {16}------------------------------------------------ #### INDEPENDENT ACCOUNT ANT'S AGREED-UPON PROCEDURES REPORT ON SCHEDULE OF ASSESSMENT AND PAYMENTS (FORM SIPC-7) Board of Directors and Shareholders of Superior Financial Services, Inc. In accordance with Rule 17a-5(e)(4) under the Securities Exchange Act of 1934, we have perfonned the procedures enumerated below with respect to the accompanying Schedule of Assessment and Payments (Fonn SIPC-7) to the Securities Investor Protection Corporation (SIPC) for the year ended December 31, 202 1, which were agreed to by Superior Financial Services, Inc .. and the Securities and Exchange Commission, Financial Industry Regulatory Authority, Inc., and SIPC, solely to assist you and the other specified parties in evaluating Superior Financial Services, Inc.'s compliance with the applicable instructions of Fonn SIPC-7. Superior Financial Services, Inc.'s management is responsible for Superior Financial Services, Inc.'s compliance with those requirements. This agreed-upon procedures engagement was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants. The sufficiency of these procedures is solely the responsibility of those parties specified in this report. Consequently, we make no representation regarding the sufficiency of the procedures described below either for the purpose for which this report has been requested or for any other purpose. The procedures we performed and our findings are as follows: - 1) Compared the listed assessment payments in Fonn SIPC-7 with respective cash disbursement records entries (SIPC -6 and SIPC -7), noting no differences; - 2) Compared the amounts reported on the audited Fonn X-17A-5 for the year ended December 31,2021, as applicable, with the amounts reported in Form SlPC-7 for the year ended December 31, 2021, noting no differences; - 3) Compared any adjustments reported in Form SIPC-7 with supporting schedules and working papers, noting no differences: - 4) Proved the arithmetical accuracy of the calculations reflected in Form SIPC-7 and in the related schedules and working papers supporting the adjustments noting no differences; and - 5) Compared the amount of any overpayment applied to the current assessment with the Form SIPC-7 on which it was originally computed, noting no differences. We were not engaged to, and did not conduct an examination, the objective of which would be the expression of an opinion on compliance. Accordingly, we do not express such an opinion. Had we performed additional procedures, other matters might have come to our attention that would have been reported to you. This report is intended solely for the information and use of the specified parties listed above and is not intended to be and should not be used by anyone other than these specified parties. ~4~~Lccc Greenfield, Wisconsin February 15, 2022 {17}------------------------------------------------ | | SECURITIES INVESTOR PROTECTION CORPORATION. | | | | | | |-------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------------------------------|------------|---------------------------------------------------------------------------------------------|------------------|---------------| | | · Mail Code: 8967 P.O. Box 7247 Philadelphia, PA 19170-0001 | | | | SIP S | | | (36-REV 12/18) | | General Assessment Reconciliation | | | (36-REV 12/18) | | | | | For the liscal year ended | 12/31/2021 | | | | | | (Read carefully the Instructions in your Working Copy before completing this Form) | | | | | | | | TO BE FILED BY ALL SIPC MEMBERS WITH FISCAL YEAR ENDINGS | | | | | | | | 1. Name of Member, address, Designated Examining Authority, 1934 Act registration no. and month in which fiscal year ends for | | | | | | | | ourposes of the audit requirement of SEC Rule 17a-5: | | | | | | | 52618 FINRA Dec | | | | Note: If any of the information shown on the | | | | | | | | mailing label requires correction, please e-mail
any corrections to form@sipc.org and so | | | | | Superior Financial Services inc | | | indicate on the form filed. | | | | PO Box 139 | | | | Name and telephone number of person to | | | | Jackson WI 53037-0139 | | | | contact respecting this form. | | | | | | | | William Hacse 262-677-9036 | | | | | | | | | | | | | | | | | | | | | A. General Assessment (item 2e from page 2) | | | 286 | | | | | | | | 130 | | | | | B. Less payment made with SIPC-6 filed (exclude interest) | | | | | | | 1972 2020 1
Date Paid | | | | | | | | Less prior overpayment applied
ు. | | | | | | | | | | | | 155 | | | | | D. Assessment balance due or (overpayment) | | | | | | | | E. Interest computed on late payment (see instruction E) for _________________________________________________________________________________________________________________ | | | | | | | | F. Total assessment balance and interest due (or overpayment carried forward) | | | 1500 | | | | PAYMENT: V the box | | | | | | | | | Check mailed to P.O. Box V Funds Wired | A CH | | | | | | Total (must be same as Flabove) | | | | | | | | H. Overpayment carried forward | | કા | | | | | | | | | | | | | | | 3. Subsidiaries (S) and predecessors (P) included in this form (give name and 1934 Act registration number): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | The SIPC member submitting this form and the | | | | | | | | person by whom it is executed represent thereby | that all information contained herein is true, correct | | | Superior Financial Services, Inc. | | | | and complete. | | | | (Name of Corporalion, Partnership or other organization) | | | | | | | | | | | | Dated the 29 day of January | | | | | | · 1376 | | | PO BOX 139 | SUPERIOR FINANCIAL SERVICES, INC. | | | | 79-7182/2759 | | This form and the assessment pay
for a period of not less than 6 yet | JACKSON, WI 53037 | | | | Date | Incheck ABMOR | | | | | | | | | | | Pay to the
Order of | | | | ക | | | Dates: | | | 0 | | 20
Sc Dollars | ROLE | | Postmarked | | | | | | | | Calculations . | | | | | | | | C REVIE
Exceptions: == | | vestbury Daruki A.A. | | | | | | | | | | | | | | Disposition of exceptions:
g | | | | | | | | | | Cara Para Para MOS BOOM Parle | | | | | {18}------------------------------------------------ # DETERMINATION OF "SIPC NET OPERATING REVENUES AND GENERAL ASSESSMENT Amounts for the fiscal period beginning 1/1/2021 and ending 1200223 Eliminate cents The The The Read Comment of Children 1.491.008 2a. Total revenue (FOCUS Line 12/Part IIA Line 9, Code 4030) 100000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000 20. Addrians is as polyer ha 我要来 题 感情感受了意见 六是得到着,因此 (1) Total revenues from the securities (except foreign subsidiaries) and i predecessors not included above. . ... " " " = " = " = " = " = " = " = " = " = " = " = " = " = " = " = " = " = " = " = " = " = " = " = " = " = " = " = " = " = " = " = " = " - (2) Net loss from principal transactions in securities in trading accounts. 24 - 2019-11 - 1 - (3) Net loss from principal transactions in commodities in trading accounts. : 08 8 12 8 12 1 - (4) Interest and dividend expense deducted in determining item 2a. 10 11 17 1 12 12 12 11 12 11 12 11 12 11 12 20 11 人 - 新闻 - 新闻 - - 11 . - (5) Net loss from management of or participation in the underwriting or distribution of securities. 166 8/5 1,300,221 (to page 1, line 2.A.) 190,787 286 - (6) Expenses other than advertising, printing, registration fees and legal fees deducted in determining net profit from management of or participation in underwriting or distribution of securities. 1 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 - ) Net loss from securities in investment accounts. - STERE CONSTITUTION CONTRACTOR COLLECTION CONTRACTOR COLLECTION CONTRACTOR COLLECTION CONTRACTOR CONTRACTOR CONTRACTOR CONTRACTOR CONTRACTOR CONTRACTOR CONTRACTOR CONTRACTOR C Total additions - 2c. Deductions: - (1) Revenues from the distribution of shares of a registered open end investment company or unit investment trust, from the sale of variable annuities, from the business of insurance, from investment. advisory services rendered to registered investment companies or insurance company separate accounts, and from transactions in security futures products, - ﺍﻟﺘﻲ 1 - | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (2) Revenues from commodity transactions. - The British The First Friday on the Manage (3) Commissions, floor brokerage and clearance paid to other SIPC members in connection with securities transactions. The line == " - (4) Reimbursements for postage in connection with proxy solicitation (4) a la pi in pod 11 - (5) Net gain from securities in investment accounts. - . 11 1 43 (6) 100% of commissions and markups earned from transactions in (1) certificates of deposit and (ii) Treasury bills, bankers acceptances or commercial paper that mature nine months or less. from issuance date. - (7) Direct expenses of printing advertising and legal fees incurred in connection with other revenue related to the securities business (revenue defined by Section 16(9)(L) of the Act). - (8) Other revenue not related either directly or indirectly to the securities business 1 - 11 (See Instruction G): 1999 1999 1999 1999 1000 11 1 153,346 Advisory Income, Interest Income, WI Pandemic Relief (Deductions in excess of \$100,000 require documentation) - (9) (i) Total interest and dividend expense (FOCUS Line 22/PART IIA Line 13, Code 4075 plus line 20(4) above) but not in excess - of total interest and dividend income. Monther (ii) 40% of margin interest earned on customers securities accounts (40% of FOCUS line 5, Code 3960). - Enter the greater of line (i) or (ii)s - Total deductions - 2d. SIPC Net Operating Revenues - 2e. General Assessment @ . 0015 Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.