# STIFEL INDEPENDENT ADVISORS, LLC X-17A-5 (2025-03-06) — Broker-dealer annual report

- Company: STIFEL INDEPENDENT ADVISORS, LLC
- Form: X-17A-5
- Filed: 2025-03-06
- Accession: 0001193125-25-048339
- CIK: 872275
- File #: 8-43514

Original filing: https://www.sec.gov/Archives/edgar/data/872275/000119312525048339/d925101dfull.pdf

---

{0}------------------------------------------------

# STIFEL INDEPENDENT ADVISORS, LLC

(A Wholly-Owned Subsidiary of Stifel Financial Corp.)

Statement of Financial Condition

December 31, 2024

(With Report of Independent Registered Public Accounting Firm)

This Statement of Financial Condition was filed pursuant to Rule 17a-5(e)(3) as a public document.

{1}------------------------------------------------

## STIFEL INDEPENDENT ADVISORS, LLC (A Wholly-Owned Subsidiary of Stifel Financial Corp.)

Statement of Financial Condition December 31, 2024

| Statement of Financial Condition                        | Page |
|---------------------------------------------------------|------|
| Report of Independent Registered Public Accounting Firm | 2    |
| Statement of Financial Condition                        | 3    |
| Notes to Statement of Financial Condition               |      |

{2}------------------------------------------------

![](_page_2_Picture_0.jpeg)

Ernst & Young LLP 1828 Walnut Street Suite 04-100 Kansas City, MO, 64108 Tel: +1 816 480 5200 ev.com

## Report of Independent Registered Public Accounting Firm

To Management (those charged with governance) of Stifel Independent Advisors, LLC

## Opinion on the Financial Statement

We have audited the accompanying statement of financial condition of Stifel Independent Advisors, LLC. (the "Company") as of December 31, 2024 and the related notes (the "financial statement"). In our opinion, the financial statement presents fairly, in all material respects, the financial position of the Company at December 31, 2024, in conformity with U.S. generally accepted accounting principles.

### Basis for Opinion

This financial statement is the responsibility of the Company's management. Our responsibility is to express an opinion on the Company's financial statement 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 the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audit in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statement is free of material misstatement, whether due to error or fraud. Our audit included performing procedures to assess the risks of material misstatement of the financial statement, 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 statement. Our audit also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.

Ernst + Young LLF

We have served as the Company's auditor since 2008.

March 6, 2025

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## STIFEL INDEPENDENT ADVISORS, LLC (A Wholly-Owned Subsidiary of Stifel Financial Corp.)

## Statement of Financial Condition December 31, 2024

| Assets<br>ಕಿ<br>Cash<br>Commissions receivable from affiliated broker-dealer<br>Due from affiliated broker-dealer<br>Operating lease right-of-use assets, net<br>Prepaid expenses<br>Other assets<br>S<br>Total assets<br>Liabilities and member's capital<br>ਦੇ ਤੇ<br>Payable to independent contractors<br>Accrued compensation<br>Lease liabilities, net<br>Due to Parent<br>Other accrued liabilities<br>Total liabilities<br>Member's capital<br>S<br>Total liabilities and member's capital | (in thousands) |        |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                |        |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                | 10,635 |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                | 785    |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                | 730    |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                | 666    |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                | 350    |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                | 292    |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                | 13,458 |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                |        |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                | 3,840  |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                | 799    |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                | 752    |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                | 602    |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                | 393    |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                | 6,386  |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                | 7,072  |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                | 13,458 |

See accompanying Notes to Statement of Financial Condition.

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{7}------------------------------------------------

### STIFEL INDEPENDENT ADVISORS, LLC (A Wholly-Owned Subsidiary of Stifel Financial Corp.)

#### Notes to Statement of Financial Condition December 31, 2024

#### NOTE 8 - Recent Accounting Developments

#### Recently Adopted Accounting Guidance

Leases

In March 2023, the Financial Accounting Standards Board issued Accounting Standard Update 2023-01, "Leases (Topic 842): Common Control Arrangements," which requires entities to classify and account for leases with related parties on the basis of legally enforceable terms and conditions of the accounting update is effective for annual periods beginning after December 15, 2023 (January 1, 2024, for the Company). The adoption of the accounting update did not have a material impact on the Company's statement of financial condition.

#### NOTE 9 - Subsequent Events

The Company evaluates subsequent events that have occurred after the statement of financial condition date but before the financial statements are available to be issued. There are two types of subsequent events: ( 1 ) recognized, or those that provide additional evidence about conditions that existed at the date of the statement of financial condition, including the estimates inherent in the process of preparing financial statements, and (2) non-recognized, or those that provide evidence about conditions that did not exist at the statement of financial condition but arose after that date. The Company has evaluated subsequent events through March 6, 2025, the date the accompanying statement of financial condition was available to be issued. Based on the evaluation, the Company did not identify any recognized subsequent events that required adjustment of financial condition.


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