# SILVERMARK PARTNERS LLC X-17A-5 (2026-04-07) — Broker-dealer annual report - Company: SILVERMARK PARTNERS LLC - Form: X-17A-5 - Filed: 2026-04-07 - Period: 2025-12-31 - Accession: 0001342039-26-000003 - CIK: 1342039 - File #: 8-67124 - Type: Broker-dealer - Material weakness: No - Auditor: Sanville & Company - Auditor location: Dallas, TX - Contact: William Fitzgibbon - Phone: 6152501596 - Email: wfrrzgibbon@silvermarkpartmers.com - Website: silvermarkpartmers.com - Signed by: William Fitzgibbon (Partner) Original filing: https://www.sec.gov/Archives/edgar/data/1342039/000134203926000003/2025SilvermarkAuditpublic.pdf --- {0}------------------------------------------------ **UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549** OMB APPROVAL OMB Number: 3235-0123 Expires: Nov. 30, 2026 Estimated average burden hours per response: 12 # **ANNUAL REPORTS** SEC FILE NUMBER **FORM X-17A-5** 8-67124 **PART III** | hours per response: 12 | |------------------------| | | | | | | **FACING PAGE** **Information Required Pursuant to Rules 17a-5,17a-12, and 18a-7 under the Securities Exchange Act of 1934** **FILING FOR THE PERIOD BEGINNING** 01/01/25 **AND ENDING** 12/31/25 MM/DD/YY MM/DD/YY **A. REGISTRANT IDENTIFICATION** # **name OF firm:** SILVERMARK PARTNERS, LLC **TYPE OF REGISTRANT (check all applicable boxes):** **0 Broker-dealer □ Security-based swap dealer □ Major security-based swap participant** □ Check here if respondent is also an OTC derivatives dealer **ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use a P.O. box no.)** # 3100 WEST END AVE" SUITE 200 | B. ACCOUNTANT IDENTIFICATION | | | | | |----------------------------------------------|------------------------------|------------------------------------|--|--| | (Name) | (Area Code-Telephone Number) | (Email Address) | | | | WILL
FITZGIBBON | 615-953-2165 | WFrrZGIBBON@SILVERMARKPARTMERS.COM | | | | PERSON TO CONTACT WITH REGARD TO THIS FILING | | | | | | (City) | (State) | (Zip Code) | | | | NASHVILLE | TN | 37203 | | | | | (No. and Street) | | | | **INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing\*** # SANVILLE & COMPANY | (Name - if individual, state last, first, and middle name) | | | | | | |------------------------------------------------------------|-----------------------------|---------|--------------------------------------------|--|--| | S
ST
PAUL
ST
325 | STE
DALLAS
3100
., | TX | 75201 | | | | (Address) | (City) | (State) | (Zip Code) | | | | 09/18/03 | | 169 | | | | | (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 offsets and circumstances relied on as the basis of the exemption. See 17 CFR 240.17a-5(e)(l)(ii), if applicable. **Persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.** {1}------------------------------------------------ #### **OATH OR AFFIRMATION** #### B0N —- l^!IZG!? ---------- --— \_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_swear (or affirm) that, to the best of my knowledge and belief, the financial report pertaining to the firm of silvermarkpartners, llc\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ 3S ■ -------------------------------------- 2 025 , is true and correct. I further swear (or affirm) that neither the company nor any partner, officer, director, or equivalent person, as the case may be, has any proprietary interest in any account classified solely as that of a customer. c. a *9* v *\* STATE OF TENNESSEE notary PUBLIC **£** Sls" a," re: *lAJli.* Title: cto. *P cn loi ho-.*1 Notary Public **This filing\*\* contains (check all applicable b&>fes);)N** B (a) Statement of financial condition. □ (b) Notes to consolidated statement of financial condition. H (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). S (d) Statement of cash flows. S (e) Statement of changes In stockholders' or partners' or sole proprietor's equity. □ (f) Statement of changes in liabilities subordinated to claims of creditors. **S** (g) Notes to consolidated financial statements. B (h) Computation of net capital under 17 CFR 240.15c3-l or 17 CFR 240.18a-l, as applicable. □ (I) Computation of tangible net worth under 17 CFR 240.18a-2. B (j) Computation for determination of customer reserve requirements pursuant to Exhibit A to 17 CFR 240.15c3-3, □ (k) Computation for determination of security-based swap reserve requirements pursuant to Exhibit B to 17 CFR 240.15c3-3 or Exhibit A to 17 CFR 240.18a-4, as applicable. - □ (1) Computation for Determination of PAB Requirements under Exhibit A to § 240.15C3-3. - B (m) Information relating to possession or control requirements for customers under 17 CFR 240.15c3-3. - □ (n) Information relating to possession or control requirements for security-based swap customers under 17 CFR 240.15c3-3(p)(2) or 17 CFR 240.18a-4, as applicable. - **B** (o) Reconciliations, including appropriate explanations, of the FOCUS Report with computation of net capital or tangible net worth under 17 CFR 240.15c3-l, 17 CFR 240.18a-l, or 17 CFR 240.18a-2, as applicable, and the reserve requirements under 17 CFR 240.l5c3-3 or 17 CFR 240.18a-4, as applicable, if material differences exist, or a statement that no material differences exist. - □ (p) Summary of financial data for subsidiaries not consolidated In the statement of financial condition. - B (q) Oath or affirmation in accordance with 17 CFR 240,17a-5,17 CFR 240.17a-12, or 17 CFR 240.183-7, as applicable. - □ (r) Compliance report in accordance with 17 CFR 240,17a-5 or 17 CFR 240.18a-7, as applicable. - B (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. - S (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 240.18a-7, or 17 CFR 240,17a-12, as applicable. - □ (v) Independent public accountant's report based on an examination of certain statements in the compliance report under 17 CFR 24Q.17a-5 or 17 CFR 240.18a-7, as applicable. - B (w) independent public accountant's report based on a review of the exemption report under 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable. - □ (x) Supplemental reports on applying agreed-upon procedures, in accordance with 17 CFR 240.15c3-le or 17 CFR 240,17a-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). - (z) Other:\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ *\*\*To request confidential treatment of certain portions of this filing, see 17 CFR 240.17a-S(e)(3j or 17 CFR 240.18a-7(d)(2), as applicable.* {2}------------------------------------------------ ![](_page_2_Picture_0.jpeg) #### **Report of Independent Registered Public Accounting Firm** To the Member and Those Charged With Governance Silvermark Partners, LLC #### **Opinion on the Statement of Financial Condition** We have audited the accompanying statement of financial condition of Silvermark Partners, LLC (the Company) as of December 31, 2025, and the related notes (collectively, the statement of financial condition). In our opinion, the statement of financial condition presents fairly, in all material respects, the financial position of the Company as of December 31, 2025, in conformity with accounting principles generally accepted in the United States of America. #### **Basis for Opinion** This statement of financial condition is the responsibility of the Company's management. Our responsibility is to express an opinion on the Company's statement of financial condition 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 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 statement of financial condition is free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audit, we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control over financial reporting. Accordingly, we express no such opinion. Our audit included performing procedures to assess the risks of material misstatement of the statement of financial condition, 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 statement of financial condition. Our audit also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the statement of financial condition. We believe that our audit provides a reasonable basis for our opinion. We have served as the Company's auditor since 2022. Sanville & Company, LLC Dallas, Texas March 5, 2026 325 North Saint Paul Street Suite 3100 Dallas, Texas 75201 214,738.1998 {3}------------------------------------------------ # **SILVERMARK PARTNERS, LLC STATEMENT OF FINANCIAL CONDITION December 31,2025** #### **Assets** | Cash and cash equivalents | \$
2,159,366 | |--------------------------------------------|-----------------| | Accounts receivable | 53,787 | | Prepaid expenses and deposits | 211 | | Property and equipment, net of accumulated | | | depreciation of \$155,853 | 93,546 | | Leasehold right of use | 241,657 | | Total assets | \$
2,548,567 | | Liabilities and Members' Equity | | | Leasehold right of use liability | \$
254,268 | | Accrued payroll expense | 310,689 | | Accounts payable and accrued expenses | 34,581 | | Total liabilities | 599,538 | | Members' equity | 1,949,029 | | Total liabilities and members' equity | \$
2,548,567 | The accompanying notes are an integral part of these financial statements. {4}------------------------------------------------ #### **NOTE 1 - ORGANIZATION AND NATURE OF BUSINESS** Silvermark Partners, LLC (the "Company") was formed effective March 22, 2004 to operate as a broker-dealer on an introducing firm basis in accordance with the rules and regulations set forth by the Financial Industry Regulatory Authority. It operates as a Tennessee limited liability company (LLC). ## **NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES** #### **Cash and cash equivalents** The Company considers all short-term, highly liquid investments with an original maturity date of three months or less when purchased to be cash and cash equivalents. The Company maintains its cash in financial institutions at balances that at times may exceed federally insured limits. #### **Accounts receivable** The Company considers accounts receivable to be fully collectible; accordingly, no allowance for doubtful accounts is required at December 31, 2025. #### **Property and equipment** Property and equipment is recorded at cost. Depreciation is provided in amounts necessary to allocate the cost of the assets over their expected useful lives using the straight-line method. #### **Consulting Income** The Company provides advisory services on mergers and acquisition (M&A). Revenue for advisory agreement is generally recognized at the point in time that performance under the arrangement is completed (the closing date of the transaction) or the contract is cancelled. However, for certain contracts, revenue is recognized over time for advisory arrangements in which the performance obligations are simultaneously provided by the Company and consumed by the customer. In some circumstances, significant judgment is needed to determine the timing and measure of progress appropriate for revenue recognition under a specific contract. Effective January 1, 2018, the Company adopted ASC Topic 606, Revenue from Contracts with Customers ("ASC Topic 606"). The new revenue recognition guidance requires that an entity recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance requires an entity to follow a five-step model to (a) identify the contract(s) with a customer, (b) identify the performance obligations in the contract, (c) determine the transaction price, (d) allocate the transaction price to the performance obligations in the contract, and (e) recognize revenue when (or as) the entity satisfies a performance obligation. In determining the transaction price, an entity may include variable consideration only to the extent that it is probable that a significant reversal in the amount of cumulative revenue recognized would not occur when the uncertainty associated with the variable consideration is resolved. {5}------------------------------------------------ ## **NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)** ### **Income taxes** The Company is treated as a partnership for federal income tax purposes and does not incur federal income taxes. Instead, its earnings and losses are included in the personal returns of the members and taxed depending on their personal tax situation. Accordingly, the financial statements do not reflect a provision for federal income taxes. The Company is subject to certain state franchise and excise taxes. The Company follows Financial Accounting Standards Board Accounting Standard Codification guidance clarifying the accounting for the recording of uncertain tax positions. The benefits of uncertain tax positions are recorded in the financial statements only after determining a more-likelythan-not probability that the uncertain tax position will withstand challenge, if any, from taxing authorities. The tax benefit to be recognized is measured as the largest amount of benefit that is greater than fifty percent likely of being realized upon ultimate settlement. The Company has no accrued tax penalties or interest in the accompanying financial statements. #### **Use of estimates** The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America ("GAAP") requires management to make estimates and assumptions that affect certain reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. ## **Operating Lease Right of Use Asset** The Company determines if an arrangement is a lease at inception. Leases that have terms of one year or less are deemed to be short term, and are expensed on a straight line basis over their respective terms. Operating leases are included in right-of-use ("ROU") assets, and lease liabilities in the Statement of Financial Condition. ROU assets represent the right to use an underlying asset for the lease term and lease liabilities represent the obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payment over the lease term. As most of the leases doe not provide an implicit rate, the Company generally uses, the incremental borrowing rate based on the estimated rate of interest for collateralized borrowing over a similar term of the lease payments at the commencement date. The operating lease ROU assets also includes any lease payments made and excludes lease incentives. The lease terms may include options to extend or terminate the lease when it is reasonable certain that the Company will exercise that option. Lease expense for lease payment is recognized on a straight-line basis over the lease term. The Company has lease agreements with lease and non-lease components, which are generally accounted for separately. {6}------------------------------------------------ ## **NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)** #### **Subsequent events** The Company evaluated subsequent events through the date when these financial statements were available to be issued. Management is not aware of any significant events that occurred subsequent to the statement of financial position date but prior to the filing of this report that would have a material impact on the financial statements. ### **NOTE 3 - PROPERTY AND EQUIPMENT** Property and equipment at December 31, 2025 consists of the following: | Furniture and fixtures
Computers and equipment
Leasehold Improvements | \$148,115
28,691
72.593
\$249,399 | |-----------------------------------------------------------------------------|--------------------------------------------| | Less: Accumulated depreciation | (155.853) | | | \$
93.546 | ## **NOTE 4 - LIABILITIES SUBORDINATED TO CLAIMS OF GENERAL CREDITORS** The Company has no borrowings under subordination agreements at December 31, 2025. #### **NOTE 5 - CONCENTRATION RISKS** The Company maintains its cash in bank deposit accounts that, at times, may exceed federally insured limits. The Company has not experienced any losses in such accounts and does not believe it is exposed to any significant risk. ## **NOTE 6 - COMMITMENTS AND CONTINGENT LIABILITIES** Liabilities for loss contingencies arising from claims, assessments, litigation, guarantees, and other sources are recorded when it is probable that a liability has been incurred, and the amount of the assessment and/or remediation can be reasonably estimated. Legal costs incurred in connection with loss contingencies are expensed as incurred. There were no matters existing that required the Company to record or disclose such a liability in the financial statements. {7}------------------------------------------------ ## **NOTE 6 - COMMITMENTS AND CONTINGENT LIABILITIES (Continued)** #### **Lease Commitments** The Company has an obligation as a lessee for office space with an initial noncancelable term in excess of one year. The Company classified this as an operating lease. The Company's lease does not include termination options for either party to the lease or restrictive financial or other covenants. Payments due under the lease contracts include fixed payments plus variable payments. The Company's office space lease requires variable payments for the Company's proportionate share of the building's property taxes, insurance, and common area maintenance. These variable lease payments are not included in lease payments used to determine lease liability and are recognized as variable costs when incurred. The lease expires July 18, 2027. The Company used a discount rate of 6% to calculate the right of use liability. Amounts disclosed for ROU assets obtained in exchange for lease obligations and reductions to ROU assets resulting from reductions to lease obligations include amounts added to or reduced from the carrying amount of ROU assets resulting from new leases, lease modifications or reassessments. Maturities of lease liabilities under noncancellable operating leases as of December 31,2025 are as follows: | Principal | Discount | Discounted | |---------------|----------|------------| | Undiscounted | Interest | Principal | | 176,861 | 10,777 | 166,084 | | 89.735 | 1.550 | 88.185 | | \$
266,596 | \$12,327 | \$254,269 | #### **NOTE 7 - DEFINED CONTRIBUTION PLAN** The Company adopted a defined contribution plan, effective January 1, 2016, for its eligible employees. The Company may make deferral contributions up to the annual maximum amount allowed by the Internal Revenue Code. The Company expensed \$0 during 2025. {8}------------------------------------------------ # **NOTE 8 - NET CAPITAL REQUIREMENTS** The Company is subject to the Securities and Exchange Commission Uniform Net Capital Rule (SEC Rule 15c3-l), which requires the maintenance of mi4nimum net capital and requires that the ratio of aggregate indebtedness to net capital, both as defined, shall not exceed 15 to 1. At December 31,2025, the Company had net capital of \$1,801,485, which was \$1,777,626 in excess of its required net capital of \$23,859. # **NOTE 9 - SEGMENT REPORTING** The Accounting Standards Update (ASU) 2023-07 issued by the Financial Accounting Standards Board (FASB) introduced enhancements to segment reporting requirements for public entities, including broker-dealers. The update aimed to improve the transparency and usefulness of financial disclosures for investors and other stakeholders. ASU 2023-07 disclosure requirements are effective for fiscal years starting after December 15, 2024. The chief operating decision maker is the Chief Executive Officer of the Company and determined that no additional disclosures are required as the Company has only one reportable segment. {9}------------------------------------------------ ![](_page_9_Picture_0.jpeg) #### **Report of Independent Registered Public Accounting Firm** To the Member and Those Charged With Governance Silvermark Partners, LLC We have reviewed the accompanying Exemption Report of Silvermark Partners, LLC (the Company) as of and for the fiscal year ended December 31, 2025, in which management asserts that: 1. The Company did not claim an exemption under any paragraph of 17 C.F.R. § 240.15c3-3(k); 2. The Company is filing this Exemption Report in reliance on Footnote 74 of SEC Release No. 34-70073 because it limited its securities business activities to (1) advising clients in connection with securities transactions made with relation to mergers and acquisitions and private placements throughout the fiscal year ended December 31, 2025 exclusively to the activities described in that footnote; and 3. Throughout the fiscal year ended December 31, 2025, the Company: (i) did not receive, hold, or owe funds or securities for or to customers (except amounts received and promptly transmitted in accordance with 17 C.F.R. § 240.15c2-4(a) or (b)(2)); (ii) did not carry accounts of or for customers; and (iii) did not carry proprietary accounts of other broker-dealers. Management of the Company is responsible for the assertions in the Exemption Report and for compliance with the applicable requirements. We conducted our review in accordance with attestation standards established by the Public Company Accounting Oversight Board (United States). A review is substantially less in scope than an examination, the objective of which is the expression of an opinion on management's assertions. Accordingly, we do not express such an opinion. Based on our review, nothing came to our attention that caused us to believe that management's assertions referred to above are not fairly stated, in all material respects, based on the requirements set forth in Footnote 74 of SEC Release No. 34-70073 and related provisions of Rule 17a-5. Sanville & Company, LLC Dallas, Texas March 5, 2026 > 325 North Saint Paul Street Suite 3100 Dallas, Texas 75201 214.738.1998 {10}------------------------------------------------ #### Silvermark Partners, LLC Exemption Report *SHvermark Partners, LLC (the "Company") is* a *registered broker-dealer subject to Rule 17a-5 promulgated by the Securities and Exchange Commission (17 C.F.R. §240,17a-5, "Reports to be made by certain brokers and dealers'), This Exemption Report was prepared as required by 17 C.F.R. §240.17a-5(d)( 1) and (4). To the best of its knowledge and belief, the Company states the following:* - *(1) The Company is considered "Non-Covered Firm" exempt from 17 C.F.R. §240.15c3-3 and is filing an Exemption Report relying on footnote 74 to SEC Release 34-70073, and as discussed inQ&A8 of the related FAQ issued by the SEC staff. The Company limits its business activities exclusively to: (1) advising clients in connection with securities transactions made with relation to mergers and acquisitions and private placements.* - *(2) The Company (1) did not directly or indirectly receive, hold or otherwise owe funds or securities for or to customers, other than money or other consideration received and promptly transmitted in compliance wifi paragraph (a) or (b)(2) of Rule 15c2-4; (2) did not carry accounts of or for customers; and (3) did not carry PAB accounts (as defined in Rule 15c3-3), throughout the most recent fiscal year without exception.* *I, Will Fitzgibbon, swear (or affirm) that, to my best knowledge and belief, this exemption report is true and correct.* *Regards,* *Date of Report: January 26,2026* Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.