# SUPERIOR FINANCIAL SERVICES, INC. X-17A-5 (2025-02-24) — Broker-dealer annual report

- Company: SUPERIOR FINANCIAL SERVICES, INC.
- Form: X-17A-5
- Filed: 2025-02-24
- Period: 2024-12-31
- Accession: 0001115904-25-000002
- 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/1115904/000111590425000002/annualaudit24.pdf

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**UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549** 

# **ANNUAL REPORTS FORM X-17A-S**

## **PART** Ill

**FACING PAGE** 

**Information Required Pursuant to Rules 17a-5, 17a-12, and lSa-7 under the Securities Exchange Act of1934** 

FILING FOR THE PERIOD BEGINNING **O 1/01/2024** 

MM/DD/VY

MM/DD/VY

**A. REGISTRANT IDENTIFICATION** 

# NAME oF FIRM: Superior Financial Services, Inc.

TYPE OF REGISTRANT (check all applicable boxes):

E!J Broker-dealer D Security-based swap dealer D Major security-based swap participant D Check here if respondent is also an OTC derivatives dealer

AND ENDING **12/31/2024** 

ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use a P.O. box no.)

# N168W21931 Main Street

|                                              | B. ACCOUNTANT IDENTIFICATION   |                              |  |  |
|----------------------------------------------|--------------------------------|------------------------------|--|--|
| (Name)                                       | (Area Code - Telephone Number) | (Email Address)              |  |  |
| William R Haese                              | 262-677-9036                   | bhaese@superiorfinancial.biz |  |  |
| PERSON TO CONTACT WITH REGARD TO THIS FILING |                                |                              |  |  |
| (City}                                       | (State)                        | (Zip Code)                   |  |  |
| Jackson                                      | WI                             | 53037                        |  |  |
|                                              | (No. and Street)               |                              |  |  |

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                                      |            |  |
| [i<br>of•-•<br>witt, PCAOBJ[lh~<abl,J FOR OFFICIAL USE ONLY |                                                            | •'"'""•II<br>[PG<lOB R.,;str,tioo Nomb,c, |            |  |
|                                                             |                                                            |                                           |            |  |
|                                                             |                                                            |                                           |            |  |

\* 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-S(e){l){ii),** If applicable.

**Persons who are to respond to the collectlon of Information contained in this form are not requlred to respond unless the form displays a currently valid 0MB control number.** 

OMS APPROVAL 0MB Number: 3235-0123 Expires: Nov. 30, 2026 Estimated average burden hours per response: 12

SEC FILE NUMBER

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#### **OATH OR AFFIRMATION**

|         | swear (or affirm) that, to the best of my knowledge and belief, the<br>I, William R Haese                                                                                                                                                                   |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|         | ~<br>f~c(al report pertaining to the firm of Superior Financial Services, Inc.<br>as of                                                                                                                                                                     |
|         | ~<br>7'7?__ \Oru<br>{ ~<br>, 2Cf2_5 is true and correct. I further swear (or affirm) that neither the company nor any                                                                                                                                       |
|         | ~<br>partner, officer, director, or equivalent person, as the ca~~.m::iv be, has any proprietary interest in any account classified solely<br>,,,,,<br>r,,,,                                                                                                |
|         | as that of a customer.<br>,,,,,,, , r,. NGL, ,,,,,,                                                                                                                                                                                                         |
|         | ✓ /'7 ~<br>•<br>/·~"?'-~Y-'---.'!p~;;_,,,.,<br>/                                                                                                                                                                                                            |
|         | \tignatu~<br>ir<br>fj./'o-<:.ARr'\                                                                                                                                                                                                                          |
|         | ::---L.e;._ ______________<br>::  : ~<br>_;;<br>•                                                                                                                                                                                                           |
|         | -•-<br>Jitle:<br>V'<'-<br>:<br>,<br>:                                                                                                                                                                                                                       |
|         | g-------------------<br>::<br>p U O \ '\<br>I<br>, _ .: President<br>•<br>~ \,<br>~<br>,' 0                                                                                                                                                                 |
|         | ~<br>,' 0~<br>'":, \S' '<br>',,., ~  __ , ___ c; ,,'<br>                                                                                                                                                                                                    |
|         | ,,,,, 't-12 0 F \fl\S ,,,,''                                                                                                                                                                                                                                |
|         | ~,,,,,,,l, 11 I H l \ \\\\\\                                                                                                                                                                                                                                |
|         | This filing** contains (check all applicable boxes):                                                                                                                                                                                                        |
|         | ii!l (a) Statement of financial condition.                                                                                                                                                                                                                  |
|         | ii!l (b} Notes to consolidated statement offinancial condition.                                                                                                                                                                                             |
|         | iii (c) Statement of income (loss} or, if there is other comprehensive income in the perlod(s) presented, a statement of                                                                                                                                    |
|         | comprehensive income (as defined in§ 210.1-02 of Regulation S-X).                                                                                                                                                                                           |
|         | ii!l (d) Statement of cash flows.                                                                                                                                                                                                                           |
|         | iii (e) Statement of changes in stockholders' or partners' or sole proprietor's equity.                                                                                                                                                                     |
| 0<br>ii | (f) Statement of changes in liabilities subordinated to claims of creditors.                                                                                                                                                                                |
|         | (g) Notes to consolidated financial statements.                                                                                                                                                                                                             |
|         | iii (h) Computation of net capital under 17 CFR 240.15c3-1 or 17 CFR 240.18a-l, as applicable.                                                                                                                                                              |
| 0       | (i) Computation of tangible net worth under 17 CFR 240.lSa-2.                                                                                                                                                                                               |
| 0       | 0) Computation for determination of customer reserve requirements pursuant to Exhibit A to 17 CFR 240.15c3-3.                                                                                                                                               |
| D       | (k) Computation for determination of security-based swap reserve requirements pursuant to Exhibit B to 17 CFR 240.15c3-3 or                                                                                                                                 |
|         | Exhibit A to 17 CFR 240.lSa-4, as applicable.                                                                                                                                                                                                               |
| 0       | (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.                                                                                                                                                     |
| 0       | (n) Information relating to possession or control requirements for security-based swap customers under 17 CFR                                                                                                                                               |
| ii      | 240.15c3-3(p)(2} or 17 CFR 240.lBa-4, as applicable.                                                                                                                                                                                                        |
|         | (o) Reconciliations, including appropriate explanations, of the FOCUS Report with computation of net capital or tangible net                                                                                                                                |
|         | worth under 17 CFR 240.15c3-1, 17 CFR 240.lBa-1, or 17 CFR 240.18a-2, as applicable, and the reserve requirements under 17<br>CFR 240.15c3-3 or 17 CFR 240.18a-4, as applicable, if material differences exist, or a statement that no material differences |
|         | exist.                                                                                                                                                                                                                                                      |
| 0       | (p} Summary of financial data for subsidiaries not consolidated in the statement of financial condition.                                                                                                                                                    |
| 0       | (q) Oath or affirmation in accordance with 17 CFR 240.17a-5, 17 CFR 240.17a-12, or 17 CFR 240.lSa-7, as applicable.                                                                                                                                         |
| 0       | (r) Compliance report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable.                                                                                                                                                               |
|         | iii (s) Exemption report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.lSa-7, as applicable,                                                                                                                                                            |
|         | ii (t) Independent public accountant's report based on an examination of the statement of financial condition.                                                                                                                                              |
| 0       | (u) Independent public accountant's report based on an examination of the financial report or financial statements under 17                                                                                                                                 |
|         | CFR 240.17a-5, 17 CFR 240.lSa-7, or 17 CFR 240.17a-12, as applicable.                                                                                                                                                                                       |
|         |                                                                                                                                                                                                                                                             |

- 0 (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.lBa-7, as applicable.
- iii (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.
- 0 (x) Supplemental reports on applying agreed-upon procedures, in accordance with 17 CFR 240.15c3-le or 17 CFR 240.17a-12, as applicable.
- 0 (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). 0 (z) Other: \_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ \_
- 

<sup>••</sup>ro request confidential treatment of certain portions of this filing, see 17 CFR 24O.17a-S(e}(3) or 17 CFR 240.18a-7{d){2), as applicable.

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## **Jendrach Accounting and Professional Services, LLC 4811 South 76th Street, Suite 415 Greenfield, Wisconsin 53220**

To the Board of Directors of Superior Financial Services, Inc. Jackson, Wisconsin

### Opinion on the Financial Statements

We have audited the accompanying statement of financial condition of Superior Financial Services, Inc., as of December 31, 2024, 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 Services, Inc. *as* of December 31, 2024, and the result of its operations and its cash flow for the year ended December 31, 2024, in 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 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 financial statements are free of material misstatement, whether due to fraud or error. Our audit included performing procedures to assess the risk of material misstatement of the financial statements, whether due to error or fraud, and prefonning procedures that respond to those risks. Such procedures inc1uded 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 presentatio~ of the financial statements. We believe that our audit provides a reasonable basis for our opinion.

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#### 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 perfotming procedures to test the completeness and accuracy of the information presented in the supplemental information. In forming our opinion on the supplemental info1mation, we evaluated whether the supplemental information including its fonn and content, is presented in conformity with 17 C.F.R. §240. 17a-5. In our opinion, the Computation of Aggregate Indebtedness and Net Capital 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.

*/&JuJ:y 14-/L,t{c* 

/drach Accounting & Professional Services, LLC 1;::enfield, Wisconsin January 29, 2025

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### Statement of Financial Position

As of December 31, 2024 and December 31, 2023

|                                                            | *December 31, 2024 |           |               | *December 31, 2023 |           |              |
|------------------------------------------------------------|--------------------|-----------|---------------|--------------------|-----------|--------------|
|                                                            |                    | Non       |               | Non                |           |              |
| Assets                                                     | Allowable          | Allowable | Total         | Allowable          | Allowable | Total        |
| Current-Assets:                                            |                    |           |               |                    |           |              |
| Cash-note3                                                 | \$182,144          |           | \$182,144     | \$127,425          |           | \$127,425    |
| Commission and related                                     |                    |           |               |                    |           |              |
| Receivables - note 4                                       | \$81,565           | \$7,250   | \$88,815      | \$71,528           | \$6,000   | \$77,528     |
| Securities at market                                       |                    |           |               |                    |           |              |
| Other assets                                               |                    | \$477     | \$477         |                    | \$144     | \$144        |
| Total Current Assets                                       | \$263,709          | \$7,727   | \$271,436     | \$198,953          | \$6,144   | \$205,097    |
| Other Assets:                                              |                    |           |               |                    |           |              |
| Security Deposit                                           |                    |           |               |                    |           |              |
| with Clearing Firm                                         | \$35,000           |           | \$35,000      | \$35,000           |           | \$35,000     |
|                                                            |                    |           |               |                    |           |              |
| TOTAL ASSETS                                               | \$298,709          | \$7,727   | \$306,436     | \$233,953          | \$6,144   | \$240,097    |
| Liabilities and Stockholders Equity<br>Current Uabillties: |                    |           |               |                    |           |              |
| Accounts Payable                                           |                    |           | \$4,538       |                    |           | \$3,802      |
| loans From Shareholder                                     |                    |           | \$0           |                    |           | \$0          |
| Commission payable -note 5                                 |                    |           | \$76,080      |                    |           | \$67,734     |
| TOTAi. LIABILITTES                                         |                    |           | \$80,619      |                    |           | \$71,536     |
| Stockholders Equity:                                       |                    |           |               |                    |           |              |
| Common stock-no par value, 9000 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                                       |                    |           | -\$50,000     |                    |           | \$0          |
| Retained earnings { deficit)                               |                    |           | \$235,551     |                    |           | \$128,295    |
| TOTAL STOCKHOLDERS EQUITY                                  |                    |           | \$225,817     |                    |           | \$168,561    |
| TOTAL LIABILITIES AND STOCKHOLDERS EQUITY                  |                    |           | \$<br>306,436 |                    |           | s<br>240,097 |

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### **Statement of Operations and Retained Earnings (Deficit) For the Years Ended December 31, 2024 and December 31, 2023**

|                                          |                                                 | For the Years Ended December 31 |             |
|------------------------------------------|-------------------------------------------------|---------------------------------|-------------|
|                                          |                                                 | 2024                            | 2023        |
| Revenue:                                 |                                                 |                                 |             |
|                                          | Secuities Commissions - Listed stock            | \$0                             | \$0         |
|                                          | OTC Stock                                       | \$218,169                       | \$131,768   |
|                                          | Mutual funds                                    | \$209,686                       | \$165,014   |
|                                          | Mutual fund trails                              | \$576,373                       | \$558,640   |
|                                          | Municipal 529 Plans                             | \$6,494                         | \$5,754     |
|                                          | Bonds, UITs                                     | \$38,234                        | \$14,662    |
|                                          | Options                                         | \$15,174                        | \$10,281    |
|                                          | Total securities commissions                    | \$1,064,130                     | \$886,119   |
|                                          | Insurance Commissions                           | \$69,072                        | \$61,339    |
| Variable Products                        |                                                 | \$172,904                       | \$164,986   |
| CD Commission                            |                                                 | \$3,070                         | \$2,717     |
| Advisory Income                          |                                                 | \$210,777                       | \$165,302   |
| TOTAL REVENUES                           |                                                 | \$1,519,953                     | \$1,280,463 |
|                                          |                                                 |                                 |             |
| Expenses:                                |                                                 |                                 |             |
|                                          | Salaries and payroll taxes                      | \$149,850                       | \$159,588   |
| Commissions paid                         |                                                 | \$1,228,865                     | \$997,974   |
| Professional fees                        |                                                 | \$7,010                         | (\$2,114)   |
| Rental Expense                           |                                                 | \$24,000                        | \$24,000    |
| Network Services                         |                                                 | \$2,438                         | \$2,008     |
| Regulatory fees                          |                                                 | \$1,053                         | \$6,613     |
|                                          | Other general and administrative expenses       | \$2,659                         | \$4,411     |
| TOTAL EXPENSES                           |                                                 | \$1,415,875                     | \$1,192,480 |
| Operating Income (Loss)                  |                                                 | \$104,0713                      | \$87,983    |
| Other Income (Expense)                   |                                                 |                                 |             |
|                                          | Interest and dividend income                    | \$3,178                         | \$2,264     |
|                                          | Realized asset depreciation (appreciation)      | \$0                             | So          |
|                                          | Other Income WI Dept of Rev pandemic Relief     | \$0                             | \$0         |
|                                          | TOTAL OTHER INCOME (EXPENSE)                    | \$3,178                         | \$2,264     |
| Net Income (Loss) for the Year           |                                                 | \$107,256                       | \$90,247    |
|                                          | Retained Earnings (Deficit) - Beginning of Year | \$128,295                       | \$38,047    |
| Equity Distributions                     |                                                 | (\$50,000)                      | \$0         |
| Retained Earnings (Deficit)• End of Year |                                                 | \$185,551                       | \$128,295   |
|                                          |                                                 |                                 |             |

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**Statement of Cash Flows** 

#### **For The Years Ended December 31, 2024 and December 31, 2023**

|                                                        | For the Year Ended December 31 |               |
|--------------------------------------------------------|--------------------------------|---------------|
|                                                        | 2024                           | 2023          |
| Cash flow from Operating Activities                    |                                |               |
| Net Income (Loss)                                      | \$107,256                      | \$90,247      |
|                                                        |                                |               |
| 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                    | (11,287)<br>\$                 | \$<br>(4,507) |
| Investment in common stock - trading at cost           | \$0                            | \$0           |
| Other Assets                                           | (333)<br>\$                    | \$<br>666     |
| Increase (decrease) in                                 |                                |               |
| Accounts Payable                                       | \$<br>11,196                   | \$<br>(3,637) |
| Commission payable - note 5                            | (\$2,113)                      | \$7,535       |
| Net cash provided for (used for) operating activities  | \$104,719                      | \$90,304      |
| Cash Flow from Financing ActMtles                      |                                |               |
| Increase in security deposits                          | \$0                            | \$0           |
| Unrealized capital gain (loss)                         | \$0                            | \$0           |
| Withdrawal of Capital                                  | (\$50,000)                     | \$0           |
| Net Cash provided for (use<! for} financing activities | (\$50,000)                     | \$0           |
| Net Increase (decrease) In cash                        | \$54,719                       | \$90,304      |
| Cash at beginning of year                              | \$127,425                      | \$37,121      |
| Cash at end of year • note 3                           | \$182,144                      | \$127,425     |

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## NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2024 AND DECEMBER 31, 2023

### 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

Managemen~ evaluated subsequent events through January 29, 2025 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. 2024 AND DECEMBER 31. 2023

#### 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, 2024 and December 31 , 2023

|                      | December 31, 2024 |               | December 31, 2023 |           |
|----------------------|-------------------|---------------|-------------------|-----------|
|                      | Allowable         | Non-Allowable | Total             | Total     |
| Checking             | \$954             | \$0           | \$954             | \$2,039   |
| Money market         | \$181,190         | \$0           | \$181,190         | \$125,386 |
| Risk Trading account | \$0               | \$0           | \$0               | \$0       |
| Total                | \$182,144         | \$0           | \$182,144         | \$127,425 |

#### Note 4 - Commissions and Related Receivables

The following is a summary of commissions and related receivables as of December 31 , 2024 and December 31, 2023

| December 31, 2024 |               | December 31. 2023 |          |
|-------------------|---------------|-------------------|----------|
| Allowable         | Non-Allowable | Total             | Total    |
| \$81,565          | \$7,250       | \$88,815          | \$77,528 |

#### 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 , 2024 and December 31, 2023, rent expense of \$24,000 and \$24,000 per year was incurred, respectively. There were no rents payable as of December 31, 2024 and December 31, 2023

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, 2024 AND DECEMBER 31, 2023

#### 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 2024, 2023 and 2022 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 2024, 2023, 2022 and 2021 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 the greater of \$5000, or 6 2/3%% of aggregrate indebtness (\$5375) 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 , 2024 and December 31 , 2023

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, 2024 and December 2023, 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 , 2024 and 2023, 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, 2024.

{10}------------------------------------------------

## **SUPERIOR FINANCIAL SERVICES, INC. Schedule of Other General and Administrative Expenses For the Years Ended December 31, 2024 and December 31, 2023**

|                                           | For the years ended December 31 |          |  |
|-------------------------------------------|---------------------------------|----------|--|
|                                           | 2024                            | 2023     |  |
| Other General and Administrative Expenses |                                 |          |  |
| Accounting                                | \$5,725                         | \$5,895  |  |
| Advertising                               | \$0                             | \$0      |  |
| Dues and Subscriptions                    | -\$6,748                        | -\$6,604 |  |
| Bank fees                                 | \$1,176                         | \$1,278  |  |
| Equipment Rental                          | \$0                             | \$0      |  |
| Insurance                                 | \$493                           | \$522    |  |
| Interest Expense                          | \$0                             | \$0      |  |
| RBC Charges                               | \$575                           | \$1,148  |  |
| Licenses & Permits                        | \$0                             | \$26     |  |
| Office supplies                           | \$0                             | \$0      |  |
| Travel & entertainment                    | \$0                             | \$0      |  |
| Postage                                   | \$0                             | \$0      |  |
| Taxes                                     | \$0                             | \$9      |  |
| Repairs, maintainance                     | \$0                             | \$0      |  |
| Telephone                                 | \$1,438                         | \$2,137  |  |
| Total Expenses                            | \$2,659                         | \$4,411  |  |

{11}------------------------------------------------

## **SUPERIOR FINANCIAL SERVICES, INC. Statement of Changes** in **Stockholder Equity For the Years Ended December 31, 2024 and December 31, 2023**

|                                | For the years ended December 31 |           |  |
|--------------------------------|---------------------------------|-----------|--|
|                                | 2024                            | 2023      |  |
| Balance at beginning of year   | \$168,561                       | \$78,314  |  |
| Add: Net income (loss)         | \$107,256                       | \$90,247  |  |
| Unrealized capital gain (loss) | \$0                             | \$0       |  |
| Changes in Capital             | (\$50,000)                      | \$0       |  |
| Balance at end of year         | \$225,817                       | \$168,561 |  |
|                                |                                 |           |  |

## Statement of Changes in Liabilities Subordinated to Claims of General Creditors **As of December 31, 2024** and **December 31, 2023**

|                              | As of December 31 |      |
|------------------------------|-------------------|------|
|                              | 2024              | 2023 |
| 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, 2024 and December 31, 2023

|                                                    | As of December 31 |           |
|----------------------------------------------------|-------------------|-----------|
|                                                    | 2024              | 2023      |
| Total stockholders' equity per financial statement | \$225,817         | \$168,561 |
| Deduct: Haircuts                                   | \$0               | \$0       |
| Deduct: Total nonallowable assets per              |                   |           |
| statement offinancial position                     | (\$7,727)         | (\$6,144) |
| Net Capital                                        | \$218,090         | \$162,417 |
|                                                    |                   |           |

### **Computation of Excess Net Capital Requirement As of December 31, 2024 and December 31, 2023**

|                                                        | As of December 31 |           |
|--------------------------------------------------------|-------------------|-----------|
|                                                        | 2024              | 2023      |
| Nettapital                                             | \$218,090         | \$162,417 |
| Deduct: Minimum dollar net capital requirement• note 7 | (\$5,375)         | (\$5,000) |
| Excess Net Capital                                     | \$212,715         | \$157,417 |

{13}------------------------------------------------

## **Reconciliation of the Unaudited Computation of Net Capital to the Audited Computation of Net Capital As of December 31, 2024 and December 31, 2023**

|                                                        | As of December 31 |             |
|--------------------------------------------------------|-------------------|-------------|
|                                                        | 2024              | 2023        |
| Unaudited net capital per focus report                 | \$218,090         | \$162,417   |
| Adjustments to asset accounts-increase (decrease) Cash | \$0               | \$0         |
| Adjustments to liability accounts- decrease (increase} | \$0               | \$0         |
| Audited net capital                                    | \$218,090         | . \$162,417 |

## **Reconciliation of the Unaudited Computation of Excess Net Capital Requirement to the Audited Computation of Excess Net Capital Requirement As of December 31, 2024** and **December 31, 2023**

|                                                        | As of December 31 |           |
|--------------------------------------------------------|-------------------|-----------|
|                                                        | 2024              | 2023      |
| Unaudited Excess Net Capital                           | \$212,715         | \$157,417 |
| Adjustments to asset accounts-increase (decrease} Cash | \$0               | \$0       |
| Adjustments to liability accounts- decrease (increase) | \$0               | \$0       |
| Audited Excess Net capital                             | \$212,715         | \$157,417 |

#### **Aggregate Indebtedness**

| 2023     |
|----------|
|          |
| \$71,536 |
| \$71,536 |
|          |

{14}------------------------------------------------

# **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 (SJPC) for the year ended December 3 l, 2024, 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 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;
- 2) Compared the amounts reported on the audited Form X-l 7A-5 for the year ended December 31, 2024, as applicable with the amounts reported in Form Sf PC-7 for the year ended December 31 , 2024, noting no differences;
- 3) Compared any adjustments reported in Fonn SIPC-7 with supporting schedules and working papers, noting no differences;
- 4) Proved the arithmetical accuracy of the calculations reflected in Fonn SIPC-7 and in 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 Sr PC-7 on which it was originally computed, noting no differences.

{15}------------------------------------------------

## **Superior Financial Services**  December 31st, 2024 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 correspondence computation prepared by Superior Financial Services, Inc. and included in the Company's unaudited FOCUS report as of December 31st, 2024.

{16}------------------------------------------------

### **GENERAL ASSESSMENT FORM**

|   | SIPC-7 | SECURITIES INVESTOR PROTECTION CORPORATION<br>37 REV0722                                                                                                                                                                                                                                                                                                                   |                                          | SIPC-7<br>37 REV0722                                  |
|---|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------------------------------------|-------------------------------------------------------|
|   |        | GENERAL ASSESSMENT FORM                                                                                                                                                                                                                                                                                                                                                    |                                          |                                                       |
|   |        | --<br>--<br>--<br>--<br>For the fiscal year ended<br>12/31/2024                                                                                                                                                                                                                                                                                                            |                                          |                                                       |
| - | ~-     | --<br>·<br>·<br>~<br>Determination of "SIPC NET Operating Revenues" and General Assessment for:                                                                                                                                                                                                                                                                            | ·-----                                   | --<br>---<br>·<br>··<br>··~-·-<br>l                   |
| ! | l      | MEMBER NAME<br>SUPERIOR FINANCIAL SERVICES INC                                                                                                                                                                                                                                                                                                                             | SEC No.<br>8-52618                       | i<br>i                                                |
| - | -      | ·---<br>~ -<br>·<br>For the fiscal period beginning<br>1/1/2024<br>and ending                                                                                                                                                                                                                                                                                              | 12/31/2024 ··-·                          | __ . •<br>----~--·-                                   |
| 1 |        | Total Revenue (FOCUS Report-<br>Statement of Income (Loss)-<br>Code 4030)                                                                                                                                                                                                                                                                                                  |                                          | --<br>\$ 1,523,131.00<br>·--.<br>~ -~<br>-··-··-·--·- |
| 2 |        | Additions:                                                                                                                                                                                                                                                                                                                                                                 |                                          |                                                       |
|   |        | a Total revenues from the securities business of subsidiaries (except foreign<br>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<br>distribution of securities.                                                                                                                                                                                                                                                                       |                                          |                                                       |
|   |        | f Expenses other than advertising, printing, registration fees and legal fees<br>deducted in determining net profit management of or participation in<br>underwriting or distribution of securities.                                                                                                                                                                       |                                          |                                                       |
|   |        | g Net loss from securities in investment accounts.                                                                                                                                                                                                                                                                                                                         |                                          |                                                       |
|   |        | h Add lines 2a through 2g. This is your total additions.                                                                                                                                                                                                                                                                                                                   |                                          |                                                       |
| 3 |        | Add lines 1 and 2h                                                                                                                                                                                                                                                                                                                                                         | · · -·· ·                                | ----· -u ---<br>\$1,523,131.00<br>·#--~ ~ ·-·         |
| 4 |        | Deductions:                                                                                                                                                                                                                                                                                                                                                                |                                          |                                                       |
|   |        | a Revenues from the distribution of shares of a registered open end investment<br>company or unit investment trust, from the sale of variable annuities, from the<br>business of insurance, from investment advisory services rendered to<br>registered investment companies or insurance company separate accounts<br>and from transactions in security futures products. | --<br>\$ 1,057,223.00<br>-· --<br>~·--   |                                                       |
|   |        | b Revenues from commodity transactions.                                                                                                                                                                                                                                                                                                                                    |                                          |                                                       |
|   |        | c Commissions, floor brokerage and clearance paid to other SIPC members<br>in connection with securities transactions.                                                                                                                                                                                                                                                     | --<br>--<br>--.<br>-<br>-------          |                                                       |
|   |        | 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 (I) certificates<br>of deposit and (ii) Treasury bills, bankers acceptances or commercial paper<br>that mature nine months or less from issuance date.                                                                                                                                                          | \$11,611.00<br>------·---·--------~----- |                                                       |
|   |        | g Direct expenses of printing, advertising, and legal fees incurred in connection<br>with other revenue related to the securities business (revenue defined by<br>Section 16(9)(L) of the Act).                                                                                                                                                                            |                                          |                                                       |
|   |        | h Other revenue not related either directly or indirectly to the securities business.<br>Deductions in excess of \$100,000 require documentation                                                                                                                                                                                                                           | \$3,178.00                               |                                                       |
| 5 |        | a Total interest and dividend expense (FOCUS Report - Statement<br>of Income (Loss)-<br>Code 4075 plus line 2d above) but<br>not in excess of total interest and dividend income                                                                                                                                                                                           |                                          |                                                       |
|   |        | b 40% of margin interest earned on customers securities accounts<br>(40% of FOCUS Report-<br>Statement of Income (Loss)-<br>Code 3960)                                                                                                                                                                                                                                     |                                          |                                                       |
|   |        | c Enter the greater of line 5a or 5b                                                                                                                                                                                                                                                                                                                                       | \$0.00                                   |                                                       |
| 6 |        | Add lines 4a through 4h and 5c. This is your total deductions.                                                                                                                                                                                                                                                                                                             |                                          | \$ 1,072,01 2.00                                      |

{17}------------------------------------------------

#### SECURITIES INVESTOR PROTECTION CORPORATION

SIPC-7 37 REV 0722

#### **GENERAL ASSESSMENT FORM**

For the fiscal year ended 12/31/2024

| 7           | Subtract line 6 from line 3. This is your SIPC Net Operating Revenues. |                                                                                                           |                                         |                    | \$451,119.00                 |
|-------------|------------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------------|-----------------------------------------|--------------------|------------------------------|
| 8           | Multiply line 7 by .0015. This is your General Assessment.             |                                                                                                           |                                         |                    | \$ 676.00                    |
| 9           | Current overpayment/credit balance, if any                             |                                                                                                           |                                         |                    | \$ 0.00                      |
| 10          |                                                                        | General assessment from last filed 2024 SIPC-6 or 6A                                                      |                                         | \$ 335.00          |                              |
| 11          | b Any other overpayments applied<br>d Add lines 11a through 11c        | a Overpayment(s) applied on all 2024 SIPC-6 and 6A(s)<br>c All payments applied for 2024 SIPC-6 and 6A(s) | \$ 0.00<br>----<br>\$ 0.00<br>\$ 335.00 | \$ 335.00          |                              |
| 12          | LESSERofline10or11d.                                                   |                                                                                                           |                                         |                    | \$ 335.00                    |
|             | 13 a Amount from line 8                                                |                                                                                                           |                                         | \$ 676.00          |                              |
|             | b Amount from line 9<br>\$0.00                                         |                                                                                                           |                                         |                    |                              |
|             | c Amount from line 12                                                  | \$ 335.00                                                                                                 |                                         |                    |                              |
|             |                                                                        | d Subtract lines 13b and 13c from 13a. This is your assessment balance due.                               |                                         |                    | \$ 341.00                    |
| 14          | Interest (see instructions) for                                        | O<br>days late at 20% per annum                                                                           |                                         |                    | --<br>\$ 0.00<br>·-          |
| 15          | Amount you owe SIPC.Add lines 13d and 14.                              |                                                                                                           |                                         | \$ 341.00          |                              |
| 16          |                                                                        | Overpayment/credit carried forward (if applicable)                                                        |                                         |                    | \$ 0.00                      |
|             | ISEC No.<br>18-52618                                                   | Designated Examining Authority<br>DEA: FINRA                                                              | FYE<br>2024                             | Month<br>Dec       |                              |
| I<br>l<br>I | !MEMBER NAME<br>IMAfL/NG ADDRESS                                       | SUPERIOR FINANCIAL SERVICES INC<br>PO BOX 139<br>JACKSON, WI 53037<br>---------·----.--------.,.          | --<br>~----~-,.,,,.--                   |                    |                              |
|             |                                                                        |                                                                                                           | .,.<br>                                 | -~<br>111~·<br>· ~ | ----~-<br>- .,.~ ,.  .c  1 • |

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 form; that 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 SlPC's Privacy Policy

| SUPERIOR FINANCIAL SERVICES INC | WILLIAM R HAESE              |
|---------------------------------|------------------------------|
| (Name of SIPC Member)           | (Authorized Signatory)       |
| 1/26/2025                       | 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}------------------------------------------------

## **REPORT OF 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. § 15c3- 3(k) under which Superior Financial Services, Inc. claimed an exemption from 17 C.F.R. §240. l 5c3-3 and Superior Financial Services, Inc. stated that Superior Financial Services. Jnc. 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, 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 l 5c3-3 under the Securities Exchange Act of 1934.

*w /4c<=/,f* f J,:\_\_ C(c

Jendrach Accounting & Professional Services, LLC January 25, 2025 Greenfield, Wisconsin

{19}------------------------------------------------

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 infonnation and use the specified parties listed above ru1d is not intended to be and should not be used by anyone other than these specified parties.

January 25, 2025

{20}------------------------------------------------

- :l) Supenot Financial -Servfoes, lnc, is a: brokertdealer registered with the SEC and' FINAA.
- 2} ~i'~QT ~clal- S~:Mc~,-Ti:).'C. cf?,uned art exeiJlpt,ion \llld.er ~graph (k){2)(H)of Rule 15~3- 3. for the year ended December 31,. 2-024.
- 3) S'UP-erlor:Financia1 Services, me. is exempt from the pJ:Ovisions of Rule I5c3-3 because itmeets conditfons set forth in-,p~ph {k)(1)(ii) of the rule, of which; the identity of the sp~q(fic conditions are as folk)ws: • •
	- ,a. Tue pr-0yi\$i~µs orth.e Cu,st\_oiner Prot~tton Rule snall fiQt i?~ applicable to a broker Pr d¢a1ei: ~o, ~ -a,n lll!I'n<;lµcin\_g brqket ot dealer, .clears all t®lSactions with and· for custotners bn <sup>a</sup> fully dJscJ-osed bajs with a, -cleamrg broker or d¢a1er, ano who. promptly 1ransmits ~l) customer :fi.m.ds ,and secur-ities-to the clearing broker or dealer which carries ·all of tbe accounts af such customers an.d maintains aad llteserves such books and -re-cords pertaining thereto pursuant to the requirements of Rule l7a-3-and '.Rule t 7::r-4 .. as are customarily made ang 'kept ·by a ci~g bro~ -0r ~¢aler. . .
- 4) Superior Financial Services, Inc,. has met the ·identified exemption:provisions throughout the most reGe.nt :fiscal y~ withbut. excepti<i:n. • • •
- )). S~~tiorJinatiP1a.l Ser.vice~ 1ne. bas ,not re<:b'r<ie4-m;iJ ex®!)ti◊m. t!', the ex.e;m~fon for the fiscal. year ~de<i Decem~ ~1, 2024..-

**~~i~Streei P.0..Bo~.139 J~ti,.WI5\$03f**  {262} 617-:~36 ~ ~~ m~~&

. #/ j - t ( b:7i#51iMtt


Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.