# SUPERIOR FINANCIAL SERVICES, INC. X-17A-5 (2024-02-22) — Broker-dealer annual report
- Company: SUPERIOR FINANCIAL SERVICES, INC.
- Form: X-17A-5
- Filed: 2024-02-22
- Period: 2023-12-31
- Accession: 0001115904-24-000001
- CIK: 1115904
- File #: 8-52618
- Type: Broker-dealer
- Material weakness: No
- Auditor: Jendrach Accounting and Professional Services, LLC
- Auditor location: Greenfield, WI
- Contact: William R Haese
- Phone: 262-677-9036
- Email: bhaese@superiorfinancial.biz
- Website: superiorfinancial.biz
- Signed by: William R Haese (President)
Original filing: https://www.sec.gov/Archives/edgar/data/1115904/000111590424000001/2023aasec.pdf
---
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## UNITED STATES OMBAPPROVAL SECURITIES AND EXCHANGE COMMISSION OMB Number:3235-0123 Washington,D.C.20549 Estimated average burden
Expires:Nov.30,2026 hours per response:12
# ANNUAL REPORTS SEC FILE NUMBER
# FORMX-17A-5
PART III
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 | 01/01/2023 | AND ENDING | 12/31/2023 | |
|-----------------------------------------------------------------------------|-----------------------------------------------------|---------------------------------------|-----------------------------------------|------------------------------|
| | MM/DD/YY | | | MM/DD/YY |
| | A.REGISTRANT IDENTIFICATION | | | |
| Superior Financial Services,Inc
NAME OF FIRM | | | | |
| TYPE OF REGISTRANT check all applicable boxes) | | | | |
| Broker-dealer
Check here if respondent is also an OTC derivatives dealer | Security-based swap dealer | 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 RHaese | 262-677-9036 | | | bhaese@superiorfinancial.biz |
| (Name) | (Area Code-Telephone Number) | | (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 lastfirst,and middle name) | | | |
| 4811South 76th Street Suite 415 Greenfield | | | WI | 53220 |
| (Address) | (City) | | (State) | (Zip Code |
| 11/4/2014 | | 6056 | | |
| 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 CFR240.17a-5e)1iiif 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.
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#### OATH OR AFFIRMATION
IWilliam R Haese
swear or affirm that, to the best of my knowledge and belief, the financial report pertaining to the firm of Superior Financial Services,Inc. as of
Februa 21 2 O2,is true and correct. I further swear (or affirm that neither the company nor any partnerofficerdirectoror equivalent personas the caseaybehas any proprietary interest in any account classified solely as that of a customer.
State ofwl
Washinston Count Signature:
Title: President
RoMe
# Notary Public Comex 6-21-202
This filing\*\* contains (check all applicable boxes)
a) Statement of financial condition
b) Notes to consolidated statement of financial condition
c Statement of income (loss) or,if there is other comprehensive income in the period(s) presented,a statement of comprehensive income as defined in 210.1-02 of Regulation S-X) d) Statement of cash flows.
(e Statement of changes in stockholders'or partners'or sole proprietor's equity 0
- (f Statement of changes in liabilities subordinated to claims of creditors. (g) Notes to consolidated financial statements.
- hComputation of net capital under 17 CFR 240.15c3-1 or 17 CFR 240.18a-1,as applicable 0 i Computation of tangible net worth under 17 CFR 240.18a-2.
(jComputation 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.
1 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 CFR240.15c3-3.
(n) Information relating to possession or control requirements for security-based swap customers under 17 CFR 240.15c3-3p2)or 17 CFR 240.18a-4,as applicable.
o) Reconciliations,including appropriate explanations,of the FOcus Report with computation of net capital or tangible net worth under 17 CFR 240.15c3-1,17CFR 240.18a-1,or 17 CFR240.18a-2,as applicable,and the reserve requirements under 17 CFR240.15c3-3 or 17 CFR240.18a-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.
qOath or affirmation in accordance with 17 CFR240.17a-5,17 CFR240.17a-12,or 17 CFR 240.18a-7,as applicable rCompliance report in accordance with 17 CFR240.17a-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 report or financial statements under 17 CFR240.17a-5,17 CFR 240.18a-7,or 17 CFR240.17a-12,as applicable
v) Independent public accountant's report based on an examination of certain statements in the compliance report under 17 CFR240.17a-5 or 17 CFR 240.18a-7,as applicable.
w Independent public accountants report based on a review of the exemption report under 17 CFR 240.17a-5 or 17 CFR240.18a-7,as applicable.
x)Supplemental reports on applying agreed-upon procedures,in accordance with 17 CFR240.15c3-1e or 17 CFR240.17a-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). zOther
\*\*To request confidential treatment of certain portions of this filing,see 17 CFR 240.17a-5(e3) or 17 CFR 240.18a-7(d)2), as applicable.
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#### SUPERIOR FINANCIAL SERVICES,INC
#### ANNUAL AUDIT REPORT
December 31,2023 and 2022
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#### 4811 South 76th Street,Suite 415
Greenfield,Wisconsin 53220
REPORT OE INDEPENDENT REGISTEREDPUBLIC 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 2023,and the related statements of operation,changes in members'equity,and cash flows for the year then ended.These financial statements are the responsibility of Superior Financial Services, Inc.'s management.Our responsibility is to express an opinion on these financial statements based on our audit. In our opinion, the financial statements present fairly, in all material respects, the financial position of Superior Financial ServicesInc. as of December 312023,and the result of its operations and its cash flow for the year ended December 31,2023in conformity with accounting principles generally accepted in the United States of America.
#### Basis for Opinion
These financial statements are the responsibility of Superior Financial Services, Inc's management. Our responsibility is to express an opinion on Superior Financial Services, Inc.'s financial statements based on our audit. We are a public accounting firm registered with the Public Company Accounting Oversight Board United StatesPCAOB) 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 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 included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our audit also included evaluating the accounting principles used and significant estimates made by management as well as evaluating the overall presentation of the financial statements. We believe that our audit provides a reasonable basis for our opinion.
#### 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 ServicesInc.'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 information, including its form and content is presented in conformity with 17 C.F.R.\$240.17a-5.In our opinion the Computation of Aggregate Indebtedness and NetCapital and Form SIPC-7 is fairly stated,in all material respects, in relation to the financial
statements as a whole.
We have served as Superior Financial Services, Inc.'s auditor since 2016
Jendrach Accounting & Professional Services,LLC Greenfield,Wisconsin February 15,2024
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#### SUPERIOR FINANCIAL SERVICES.INC.
Statement of Financial Position
As of December 31,2023 and December 31,2022
| | | *December 31,2023 | | | *December 31,2022 | | |
|-----------------|--------------------------------------------------|-------------------|-----------|---------------|-------------------|-----------|---------------|
| | | | Non- | | | Non | |
| | Assets | Allowable | Allowable | Total | Allowable | Allowable | Total |
| Current Assets: | | | | | | | |
| | Cash-note3 | \$127,425 | | \$127,425 | \$37,121 | | \$37,121 |
| | Commission and related | | | | | | |
| | Receivables-note 4 | \$71,528 | \$6,000 | \$77,528 | \$67,020 | \$6,000 | \$73,020 |
| | Securities at market | | | | | | |
| | Other assets | | \$144 | \$144 | | \$810 | \$810 |
| | Total Current Assets | \$198,953 | \$6,144 | \$205,097 | \$104,141 | \$6,810 | \$110,951 |
| | | | | | | | |
| Other Assets: | Security Deposit | | | | | | |
| | | \$35,000 | | \$35,000 | \$35,000 | | \$35,000 |
| | with Clearing Firm | | | | | | |
| | TOTAL ASSETS | \$233,953 | \$6,144 | \$240,097 | \$139,141 | \$6,810 | \$145,951 |
| | Liabilities and Stockholders Equity | | | | | | |
| | Current Liabilities: | | | | | | |
| | | | | | | | |
| | Accounts Payable | | | \$3,802 | | | \$7,440 |
| | Loans From Shareholder | | | \$0 | | | \$0 |
| | Commission payable -note 5 | | | \$67,734 | | | \$60,198 |
| | TOTAL LIABILITIES | | | \$71,536 | | | \$67,638 |
| | Stockholders Equity: | | | | | | |
| | Common stock-no par value,9ooo shares authorized | | | | | | |
| | 200 shares issued and outstanding | | | \$10,000 | | | \$10,000 |
| | Additional paid in capital | | | \$30,266 | | | \$30,266 |
| | Unrealized capital gain(loss) | | | \$0 | | | \$0 |
| | Equity distributions | | | \$0 | | | \$0 |
| | Retained earnings (deficit) | | | \$128,295 | | | \$38,047 |
| | TOTAL STOCKHOLDERS EQUITY | | | \$168,561 | | | \$78,313 |
| | TOTAL LIABILITIES AND STOCKHOLDERS EQUITY | | | 240,097
\$ | | | \$
145,951 |
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#### SUPERIOR FINANCIAL SERVICES,INC.
#### Statement of Operations and Retained Earnings (Deficit)
For the Years Ended December 31,2023 and December 31,2022
| | For the Years Ended December 31 | |
|-----------------------------------------------|---------------------------------|-------------|
| | 2023 | 2022 |
| Revenue: | | |
| Secuities Commissions-Listed stock | \$0 | \$0 |
| OTC Stock | \$131,768 | \$153,642 |
| Mutualfunds | \$165,014 | \$158,755 |
| Mutual fund trails | \$558,640 | \$524,013 |
| Municipal 529Plans | \$5,754 | \$7,180 |
| Bonds,UITs | \$14,662 | \$13,579 |
| Options | \$10,281 | \$8,214 |
| Total securities commissions | \$886,119 | \$865,383 |
| Insurance Commissions | \$61,339 | \$66,275 |
| Variable Products | \$164,986 | \$178,179 |
| CD Commission | \$2,717 | \$3,052 |
| Advisory Income | \$165,302 | \$147,394 |
| TOTAL REVENUES | \$1,280,463 | \$1,260,283 |
| Expenses: | | |
| Salaries and payroll taxes | \$159,588 | \$160,056 |
| Commissions paid | \$997,974 | \$1,051,304 |
| Professional fees | \$2,114 | \$15,067 |
| Rental Expense | \$24,000 | \$24,000 |
| Network Services | \$2,008 | \$1,165 |
| Regulatory fees | \$6,613 | \$9,787 |
| Other general and administrative expenses | \$4,411 | \$15,319 |
| TOTAL EXPENSES | \$1,192,480 | \$1,276,698 |
| Operating Income (Loss) | \$87,983 | \$16,415) |
| Other Income (Expense) | | |
| Interest and dividend income | \$2,264 | \$593 |
| Realized asset depreciation (appreciation) | \$0 | \$0 |
| Other Income WI Dept of Rev pandemic Relief | \$0 | \$0 |
| TOTAL OTHER INCOME (EXPENSE) | \$2,264 | \$593 |
| Net Income (Loss for the Yea | \$90,247 | \$15,822 |
| Retained Earnings (Deficit)-Beginning of Year | \$38,047 | \$63,869 |
| Equity Distributions | \$0 | \$10,000) |
| Retained Earnings Deficit)-End of Year | \$128,294 | \$38,047 |
| | | |
| | | |
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#### SUPERIOR FINANCIAL SERVICES, INC
#### Statement of Cash Flows
For The Years Ended December 31,2023 and December 31,2022
| | | For the Year Ended December 31 | |
|------------------------------------------------------|----|--------------------------------|-------------|
| | | 2023 | 2022 |
| Cash flow from Operating Activities | | | |
| Net Income (Loss) | | \$90,247 | \$15,822 |
| Adjustments to reconcile net income to net cash | | | |
| provided by operating activities: | | | |
| Amortization | | \$0 | \$0 |
| Change in current assets and liabilities | | | |
| Decrease (increase) in | | | |
| Commissions and related receivables | S | (4,507) | \$
4,369 |
| Investment in common stock-trading at cost | | \$0 | \$0 |
| Other Assets | \$ | 666 | \$
755 |
| Increase (decrease) in | | | |
| Accounts Payable | \$ | 3,637 | \$
4,289 |
| Commission payable-note 5 | | \$7,535 | \$54,666 |
| Net cash provided for (used for operating activities | | \$90,304 | \$62,585 |
| Cash Flow from Financing Activities | | | |
| Increase in security deposits | | \$0 | \$0 |
| Unrealized capital gain (loss) | | \$0 | \$0 |
| Withdrawal of Capital | | \$0 | \$10,000 |
| Net Cash provided for (used for financing activities | | \$0 | \$10,000 |
| Net increase (decrease) in cash | | \$90,304 | \$72,585 |
| Cash at beginning of year | | \$37,121 | \$109,706 |
| Cash at end of year-note 3 | | \$127,425 | \$37,121 |
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#### SUPERIOR FINANCIAL SERVICES,INC
# NOTES TO FINANCIAL STATEMENTS
#### DECEMBER 312023 ANDDECEMBER 31,2022
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 Sstatus. 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 January 26,2024 the date the financial statements were available to be issued. There are no subsequent events that required recognition or disclosure
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#### SUPERIOR FINANCIAL SERVICES, INC.
#### NOTES TO FINANCIAL STATEMENTS
DECEMBER 31,2023 AND DECEMBER 31,2022
#### Note 2-Corporate History
Superior Financial Services, Inc. was incorporated in 2o00 and is registered as a licensed broker to deal in securities.
#### Note 3-Cash3
The following is a summary of cash as of December 31,2023 and December 31,2022
| | | December 31,2023 | | December 31,2022 |
|----------------------|-----------|------------------|-----------|------------------|
| | Allowable | Non-Allowable | Total | Total |
| Checking | \$2,039 | \$0 | \$2,039 | \$1,554 |
| Money market | \$125,386 | \$0 | \$125,386 | \$35,567 |
| Risk Trading account | \$0 | \$0 | \$0 | \$0 |
| Total | \$127,425 | \$0 | \$127,425 | \$37,121 |
Note 4-Commissions and Related Receivables
The following is a summary of commissions and related receivables as of December 31,2023 and December 31,
#### 2022
| December 31,2022 | | December 31,2023 | |
|------------------|----------|------------------|-----------|
| Total | Total | Non-Allowable | Allowable |
| \$73,020 | \$77,528 | \$6,000 | \$71,528 |
Note 5-Related Party TransactionsDue 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 31,2023 and December 31,2022 rent expense of\$24,000 and\$24,000 per year was
incurred,respectively. There were no rents payable as of December 31,2023 and December 31,2022
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.
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## SUPERIOR FINANCIAL SERVICES, INC.
# NOTES TO FINANCIAL STATEMENTS DECEMBER 31,2022 ANDDECEMBER 31,2021
# Note 6-Income Taxes
Superior Financial Services, Inc. has elected Subchapter Sstatus, 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 2023,2022 and 2021 are subject to examination by the IRS,generally for three years after the returns are filed.The Wisconsin income tax returns for Superior Financial ServicesInc.for 2023,20222021 and 2020 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 al 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 the greater of\$5000,or 62/3%% of aggregrate indebtness \$4789) for broker who do not receive securities, and who do not generally carry sustomers' accounts. Superior Financial Services Inc has complied with the net capital requirements for the years ended December 31,2023 and December 31,2022
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 31,2023 and December 2022 there were 9,000 shares authorized of no par value common stock.For the years ended December 31,2023 and 2022,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 31,2023 and 2022, 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 31,2023
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# SUPERIOR FINANCIAL SERVICES, INC. Schedule of Other General and Administrative Expenses For the Years Ended December 31,2023 and December 31,2022
| | For the years ended December 31 | |
|-------------------------------------------|---------------------------------|----------|
| | 2023 | 2022 |
| Other General and Administrative Expenses | | |
| Accounting | \$5,895 | \$5,205 |
| Advertising | \$0 | \$0 |
| Dues and Subscriptions | \$6,604 | \$0 |
| Bank fees | \$1,278 | \$1,027 |
| Equipment Rental | \$0 | \$0 |
| Insurance | \$522 | \$482 |
| Interest Expense | \$0 | \$0 |
| RBC Charges | \$1,148 | \$5,809 |
| Licenses &Permits | \$26 | \$76 |
| Office supplies | \$0 | \$0 |
| Travel&entertainment | \$0 | \$0 |
| Postage | \$0 | \$0 |
| Taxes | \$9 | \$10 |
| Repairs maintainance | \$0 | \$0 |
| Telephone | \$2,137 | \$2,710 |
| Total Expenses | \$4,411 | \$15,319 |
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# SUPERIOR FINANCIAL SERVICES,INC.
# Statement of Changes in Stockholder Equity For the Years Ended December 31,2023 and December 31,2022
| | For the years ended December 31 | |
|-------------------------------|---------------------------------|-----------|
| | 2023 | 2022 |
| Balance at beginning of year | \$78,314 | \$104,135 |
| Add:Net income (loss | \$90,247 | \$15,822) |
| Unrealized capital gain loss) | \$0 | \$0 |
| Changes in Capital | \$0 | \$10,000 |
| Balance at end of year | \$168,561 | \$78,313 |
Statement of Changes in Liabilities Subordinated to Claims of General Creditors As of December 31,2023 and December 31,2022
| | As of December 31 | |
|------------------------------|-------------------|------|
| | 2023 | 2022 |
| Balance at beginning of year | \$0 | \$0 |
| Increses | | |
| Decreases | | |
| Balance at end of year | \$0 | \$0 |
{12}------------------------------------------------
# SUPERIOR FINANCIAL SERVICES,INC Computation of Net Capital As of December 31,2023 and December 31,2022
| | As of December 31 | |
|--------------------------------------------------------------------------------------------------------------|----------------------|---------------------|
| | 2023 | 2022 |
| Total stockholders'equity per financial statement
Deduct:Haircuts
Deduct Total nonallowable assets per | \$168,561
\$0 | \$78,313
\$0 |
| statement of financial position
Net Capital | \$6,144
\$162,417 | \$6,055
\$72,258 |
# Computation of Excess Net Capital Requirement As ofDecember 31,2023 and December 31,2022
| | As of December 31 | |
|----------------------------------------------------------------------------|----------------------|---------------------|
| | 2023 | 2022 |
| Net Capital | \$162,417 | \$72,258 |
| Deduct:Minimum dollar net capital requirement-note 7
Excess Net Capital | \$5,000
\$157,417 | \$5,000
\$67,258 |
{13}------------------------------------------------
# SUPERIOR FINANCIAL SERVICES, INC Reconciliation of the Unaudited Computation of Net Capital to the Audited Computation of Net Capital As of December 31,2023 and December 31,2022
| | As of December 31 | |
|------------------------------------------------------------------------------|-------------------|-----------------|
| | 2023 | 2022 |
| Unaudited net capital per focus report | \$162,417 | \$72,258 |
| Adjustments to asset accounts-increase (decrease) Cash | \$0 | \$0 |
| Adjustments to liability accounts-decrease (increase)
Audited net capital | \$0
\$162,417 | \$0
\$72,258 |
# Reconciliation of the Unaudited Computation of Excess Net Capital Requirement to the Audited Computation of Excess Net Capital Requirement As of December 31,2023 and December 31,2022
| | As of December 31 | |
|-------------------------------------------------------------------------------------|-------------------|-----------------|
| | 2023 | 2022 |
| Unaudited Excess Net Capital | \$157,417 | \$67,258 |
| Adjustments to asset accounts-increase (decrease) Cash | \$0 | \$0 |
| Adjustments to liability accounts-decrease (increase)
Audited Excess Net Capital | \$0
\$157,417 | \$0
\$67,258 |
#### Aggregate Indebtedness
| | As of December 31 | |
|----------------------------------------------------------------------------------|----------------------|----------------------|
| | 2023 | 2022 |
| Items included in statement of finanacial position | | |
| Accounts Payable accured expenses and other liabilites
Aggregate Indebtedness | \$71,536
\$71,536 | \$67,638
\$67,638 |
{14}------------------------------------------------
## Superior Financial Services, Inc. December 31,2023 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 corresponding computation prepared by Superior Financial Services, Inc.and included in the Company's unaudited FOCUS report as of December 31,2023.
{15}------------------------------------------------
## Jendrach Accounting & Professional Services,LLC 4811 South 76thStreet,Suite 415 Greenfield, Wisconsin 53220
#### INDEPENDENT ACCOUNTANT'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 performed the procedures enumerated below with respect to the accompanying Schedule of Assessment and Payments (Form SIPc-7) to the Securities Investor Protection Corporation SIPC) for the year ended December 31,2023,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 Form 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 Form SIPC-7 with respective cash disbursement records entries(SIPC-6 and SIPC-7)noting no differences;
2Compared the amounts reported on the audited Form X-17A-5 for the year ended December 31,2023 as applicable, with the amounts reported in Form SIPC-7 for the year ended December 31,2023,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
5Compared 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.
Greenfield,Wisconsin February 15,2024
{16}------------------------------------------------
GENERAL ASSESSMENT FORM
For the fiscal year ended 12/31/2023
| | Determination of"SIPC NET Operating Revenues" and General Assessment for.
MEMBER NAME
SECNo.
SUPERIOR FINANCIAL SERVICES INC
8-52618 | |
|---|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------------|
| | For the fiscal period beginning
1/1/2023
and ending 12/31/2023 | |
| 1 | Total Revenue (FOcus Report-Statement of Income (Loss)-Code 4030) | \$1,282,728.00 |
| 2 | Additions: | |
| | a Total revenues from the securities business of subsidiaries (except foreign
subsidiaries) and predecessors not included above | |
| | b Net loss from principal transactions in securities in trading accounts.
c Net loss from principal transactions in commodities in trading accounts. | |
| | d Interest and dividend expense deducted in determining item 1. | |
| | e Net loss from management of or participation in the underwriting or
distribution of securities. | |
| | f Expenses other than advertisingprintingregistration fees and legal fees
deducted in determining net profit management of or participation in
underwriting or distribution of securities. | |
| | g Net loss from securities in investment accounts. | |
| | h Add lines 2a through 2g.This is your total additions. | \$0.00 |
| 3 | Add lines 1 and 2h | \$1,282,728.00 |
| 4 | Deductions: | |
| | a 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
\$965,620.00
and from transactions in security futures products. | |
| | b Revenues from commodity transactions. | |
| | c Commissions floor brokerage and clearance paid to other SIPC members
in connection with securities transactions. | |
| | d Reimbursements for postage in connection with proxy solicitations.
e Net gain from securities in investment accounts. | |
| | f 100% commissions and markups earned from transactions in (l certificates
of deposit and (ii Treasury bills, bankers acceptances or commercial paper
\$2,717.00
that mature nine months or less from issuance date. | |
| | g Direct expenses of printingadvertisingand legal fees incurred in connection
with other revenue related to the securities business (revenue defined by
Section 169Lofthe Act | |
| | h Other revenue not related either directly or indirectly to the securities business.\$2,265.00
Deductions in excess of\$100,000 require documentation | |
| 5 | a Total interest and dividend expense FOCus Report-Statement
of Income Loss-Code 4075 plus line 2d above) but
not in excess of total interest and dividend income | |
| | b 40% of margin interest eaned on customers securities accounts
40% ofFOCUS Report-Statement of Income (Loss)-
Code 3960) | |
| | \$0.00
c Enter the greater of line 5a or 5b | |
| 6 | Add lines 4a through 4h and 5c.This is your total deductions. | \$970,602.00 |
{17}------------------------------------------------
| SIPC-7
SECURITIES INVESTOR PROTECTION CORPORATION
37 REV0722 | | | | SIPC-7
37REV0722 |
|--------------------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------|------------------------------|--------------------------------|---------------------|
| | GENERAL ASSESSMENT FORM | | | |
| | For the fisca year ended 12/31/2023 | | | |
| 7 | Subtract line 6 from line 3.This is your SIPC Net Operating Revenues. | | | \$312,126.00 |
| 8 | Multiply line 7 by .0015.This is your General Assessment. | | | \$468.00 |
| 9 | Current overpayment/credit balance,if any | | | \$0.00 |
| 10 | General assessment from last filed 2023SIPC-6 or 6A | | \$215.00 | |
| d Add lines 11a through 11c | 11 a Overpayments applied on all 2023 SIPC-6 and 6A(s)
b Any other overpayments applied
c All payments applied for 2023 SIPC-6 and 6A(s) | \$0.00
\$0.00
\$215.00 | \$215.00 | |
| 12 | LESSER of line 10 or 11d. | | | \$215.00 |
| 13 a Amount from line 8
b Amount from line 9
c Amount from line 12 | d Subtract lines 13b and 13c from 13a.This is your assessment balance due | | \$468.00
\$0.00
\$215.00 | \$253.00 |
| 14 | 0
Interest (see instructions for
days late at 20% per annum | | | \$0.00 |
| 15
16 | Amount you owe SIPC.Add lines 13d and 14.
Overpayment/credit carried forward (if applicable) | | | \$253.00
\$0.00 |
| SEC No.
8-52618
MEMBERNAME
MAILING ADDRESS | Designated Examining Authority
DEA:FINRA
SUPERIOR FINANCIAL SERVICES INC
POBOX 139
JACKSONWI 53037
UNITED STATES | FYE
2023 | Month
Dec | |
Subsidiaries (S) and predecessors (P) included in the form (give name and SEC number)
By checking this box you certify that you have the authority of the SiPC member to sign this formthat all information in this form is true and complete and that on behalf of the SIPC member, you are authorized and do hereby consent to the storage and handling by SIPC of the data in accordance with SIPCs Privacy Policy
| SUPERIOR FINANCIAL SERVICES INC | WILLIAM R HAESE |
|---------------------------------|------------------------------|
| (Name of SIPC Member) | Authorized Signatory |
| 1/15/2024 | bhaese@superiorfinancial.biz |
| (Date) | (e-mail address) |
| | |
Completion of the Authorized Signatory" line will be deemed a signature.
This form and the assessment payment are due 60 days after the end of the fiscal year.
{18}------------------------------------------------
Jendrach Accounting & Professional Services,LLC 4811 South 76tStreet,Suite 415 Greenfield, Wisconsin 53220
# REPORT OE INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
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. g15c3-3(k under which Superior Financial Services,Inc claimed an exemption from 17 C.F.R.g240.15c3-3 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. Our review was conducted in accordance with the standards of the Public Company Accounting Oversight Board (United States) and, accordinglyincluded 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 15c3-3 under the Securities Exchange Act of 1934.
/Jendrach Accounting & Professional ServicesLLC February 15,2024 Greenfield, Wisconsin
{19}------------------------------------------------
# Superior Financial Services, Inc
January 20,2024
To Whom it may Concen
The Below information is designed to meet the Exemption Report criteria pursuant lo SEC Rule 17a 5(d)(4):
1Superior Financial Services Inc.is a broker/dealer registered with the SEC and FINRA.
- 2)Superior Financial Services Inc.claimed an cxemption under paragraph k2iiof Rule 5c3- 3 for the year ended December 31,2023.
- 3Superior.Financia1 Services Inc.is exempt from the provisions of Rule 15c3-3 because itmcets conditions set forth in paragraph k2ii of the rule, of which the identity of the specific conditions are as follows
- a. The provisions of the Customer Protection Rule shall not be applicable to a broker or dealer who as an introducing broker or dealer, clears all transactions with and for customers on a fully disclosed basis with a clearing broker or dealer and who promptly transmits all customer funds and securities to the clearing broker or dealer which carries all of the accounts of such customers and maintains and preserves such books and records pertaining thereto pursuant to the requirements of Rule 17a-3 and Rule 17a-4.as are customarily made and kept by a clearing broker or dealer.
- 4)Superior Financial Services Inc.has met the identified exemption provisions throughout the most recent fiscal year without exception.
- 5)Superior Financial Services Inc.has not recorded any exceptions to the exemption for the fiscal year ended December 31, 2023.
The Above Statement is true and correct to the best of my and my Firm's knowledge.
Title: President
Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.