# FIRST CHICAGO ADVISORS, INC. X-17A-5 (2021-03-29) — Broker-dealer annual report - Company: FIRST CHICAGO ADVISORS, INC. - Form: X-17A-5 - Filed: 2021-03-29 - Period: 2020-12-31 - Accession: 0001387764-21-000001 - CIK: 1387764 - File #: 8-67528 - Material weakness: No - Auditor: AJSH & Co. LLP - Auditor location: New Delhi, K7 - Contact: Steven Knoop - Phone: 3128069881 - Signed by: Steven Knoop (President) Original filing: https://www.sec.gov/Archives/edgar/data/1387764/000138776421000001/Public2020.pdf --- {0}------------------------------------------------ PUBLIC U ITEDSTATES SECURJTI ES AND EXCHANGE COMMISSION Washington, O.C. 20549 # **ANNUAL AUDITED REPORT FORM X-17A-5 PARTlll** OMBAPPROVAL OMB Number: 3235·0123 Expires: October 31, 2023 Estimated average burden hours per response ... ... 12.00 | SEC FILE NUMBER - | |-------------------| | 8-67528 | f?ACING PAGE lnforma tio11 Required of Brokers and Deale rs P ursuant to Section 17 of the Securities Exchange Act of 1934 and R ule l 7a-5 T hereunder | REPORT FOR THE PERIOD BEGINNING 01/01/20 | | AND E1 DING 12/31/20
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MM/DD/YY | | | | A. REGISTRANT lDENT | lFICATION | | | | NAME OF BROKER-DEALER: First Chicago Adivisors, Inc. | | | OFFICIAL USE ONLY
FIRM 1.D. NO. | | | ADORE S OF PRI ClPAL PLACE OF BUSINESS: (Do not use P.O. Box No.)
32 Otis Road | | | | | | | (No. and Slrcct) | | | | | Barrington | IL | | 60010 | | | (C11y) | (State) | | (Zip Code) | | | NAME AND TELEPHO E NUMBER OF PERSON TO CONTACT I
Steven Knoop (312) 739 0100 | | REGARD TO THIS REPORT | (Area Code-Telephone Number) | | | | | | | | | | B. ACCOUNTANT IDENTIFICATION | | | | | | | | | | | I 'DEPE DENT PUBLIC ACCOUNTA T whose opinion is contained in this Report•
AJSH & Co LLP | | | | | | | (Name - if 111d11'1d1w/, state lost, first, middle name) | | | | | C-7/227, Sector-7 | Rohini, New Delhi-10085 | India | | | | (Address) | (City) | (Stale) | (Zip Code) | | | | | | | | | O
certified Public Accountant | | | | | | D
Public Accountant | | | | | | C HECK ONE: | [{]Accountant not resident in United States or any of its possessions. | | | | *•ct aims for exemption from the requirement that the annual report be covered by the opinion of an independen1 public acco1111ta111 must be supported by a statemem of facts and circumstances relied on as the bas* if *for the exemption See Section 2./0.* f *7a-5(e){2)* > Potential persons who are to respond to the collectlon of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. SEC 1410 (11-05) {1}------------------------------------------------ ### **OATH OR AFFIRMATION** | my knowledge and belief the accompanying financial statement and supporting schedules pertaining to the firm of
First Chicago Adivisors, Inc.
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of December 31
are true and correct. I further swear (or affirm) tha t
neither the company nor any partner, proprietor, principal officer or director has any proprietary inLeresl in any account
classi lied solely as that of a customer, except as follows:
Signature
President
Title
"OPFIClAL SEAL"
P./',,~Mf'; M ,JOl{NSTON
This report** contains (check all applicable boxes):
0 (a) Pacing Page.
l\· •;~:y rl':.u,., -.!: tu c;I t''"r!s
0 (b) Statement of Financial Condition.
My C~11'~;~ ~!res 1ii:·24121
D (c) Statement of Income (Loss) or, if there is other comprehe
1
~ 1
of Comprehensive Income (as defined in §2 lO. l-02 of Regulation S-X).
§
(d) Statement of Changes in financial Condition.
(e) Statement of Changes in Stockholders' Equity or Parlners' or Sole Proprietors' Capital.
(f) Sratement of Changes in Liabilities Subordinated to Claims of Creditors.
§
(g) Computation of Net Capital.
(h) Computation for Determination of Reserve Requirements Pursuant to Rule I 5c3-3.
(i) Information Relating to the Possession or Control Requirements Under Rule J 5c3-3.
D
U) A Reconciliation, including appropriate explanation of the Computation of Net Capital Under Rule I 5c3-I and the
Computation for Determination of the Reserve Requirements Umder Exhibit A of Rule l 5c3-3.
D
(k) A Reconciliation between the audited and unaudited Statements of Financial Condition with respect Lo methods of
consolidation.
§ (I) An Oath or Affirmation.
(m) A copy of the SIPC Supplemental Report.
(n) A report describing any material inadequacies found to exist or found to have existed since the date oft he previous audit. | 1. Steven Knoop | . swear (or affirm) that, to the best of | |-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------------|------------------------------------------| | | | 'as | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | {2}------------------------------------------------ Public ## FIRST CIDCAGO ADVISORS, INC. # STATEMENT OF FINANCIAL CONDITION FOR THE 12 MONTHS ENDED DECEMBER31, 2020 {3}------------------------------------------------ ![](_page_3_Picture_0.jpeg) #### Report of the Independent Registered Public Accounting Firm To the Members of First Chicago Advisors, Inc. #### Opinion on the Financial Statements We have audited the accompanying statement of financial condition of First Chicago Advisors, Inc. (the "Company") as of Decemlber 31, 2020 and the related statements of income, changes in member's eqL1ity and cash flows for the year then ended, and the related notes (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2020, and the results of its operations and its cash flows for the year then ended, in conformity with accounting principles generally accepted in the United States of America. #### Basis for Opinion These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on the Company'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 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 statements are 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 statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audit also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audit provide a reasonable basis for our opinion. #### Supplementary Information The supplementary information contained in Computation of Net Capital pursuant to Uniform Net Capital Rule 15c3-1 of Securities and Exchange Commission has been subjected to audit procedures performed in conjunction with the audit of Company's financial statements. The supplemental information is the responsibility of the Company's management. Our audit procedures included determining whether the supplemental information reconciles to the financial statements or the underlying accounting and other records, as applicable and performing procedures to test the completeness and accuracy of the information presented in the supplemental information. ![](_page_3_Picture_11.jpeg) ![](_page_3_Picture_12.jpeg) {4}------------------------------------------------ In forming our opinion on the supplemental information, we evaluated whether the supplemental information, including its form and content, 1s presented in conformity with 17 CFR § 240.l 7a-5. In our opinion, the supplemental information 1s fairly stated, 1n all material respects, in relation to the financial statements as *a* whole. AJSH & Co UP We have served as the Company's Auditor since 2020. New Delhi, India March 27, 2021 {5}------------------------------------------------ ## **First Chicago Advisors, Inc. Statement of Financial Condition December 31, 2020** ### **ASSETS** ### Current Assets | Money Market
Cash
Total Cash and Equivalents | \$ | 57,812
129,200
187,012 | |---------------------------------------------------------------------------|------------|------------------------------| | Other Current Assets | | 139 | | Total Current Assets | | 187,151 | | Fixed Assets
Furniture and equipment
(Net Accumulated Depreciation) | | 206 | | Total Assets | \$ 187,357 | | | LIABILITIES & EQUITY | | | | Liabilities | | | | Other Current Liabilities | \$ | 24,405 | | Accrued Expenses | \$ | 100,117 | | Total Liabilities | \$ | 124,522 | | Total Equity | \$ | 62,835 | | Total Liabilities and Equity | \$ | 187,357 | The accompanying notes are Integral part of these statements {6}------------------------------------------------ ![](_page_6_Picture_0.jpeg) ### Report of Independent Registered Public Accounting Firm To the Members of First Chicago Advisors, Inc. We have reviewed management's statements, included in the accompanying First Chicago Advisors, Inc. Exemption Report, in which (1) First Chicago Advisors, Inc. identified the following provisions of 17 C.F.R. under which the Company claimed an exemption from 17 C.F.R. §240.l 7a-5 under footnote 74 of 17a-5 (the "exemption provisions") and (2) the Company stated that they met the identified exemption provisions throughout the most recent fiscal year without exception. The Company's 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 ot her required procedures to obtain evidence about the Company's 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 SEC Footnote 74 of SEC Rule 17a-5 under the Securities Exchange Act of 1934. .h ~: · New Delhi, India March 27, 2021 ![](_page_6_Picture_10.jpeg) ![](_page_6_Picture_11.jpeg) Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.