# DYNASTY SECURITIES, LLC X-17A-5 (2026-03-30) — Broker-dealer annual report

- Company: DYNASTY SECURITIES, LLC
- Form: X-17A-5
- Filed: 2026-03-30
- Period: 2025-12-31
- Accession: 0001529560-26-000001
- CIK: 1529560
- File #: 8-68962
- Type: Broker-dealer
- Material weakness: No
- Auditor: YSL & Associated
- Auditor location: New York, NY
- Contact: Thomas Hopkins
- Phone: 603-216-8933
- Email: cbullock@dynastyfp.com
- Website: dynastyfp.com
- Signed by: Mason Salit (CEO)

Original filing: https://www.sec.gov/Archives/edgar/data/1529560/000152956026000001/dynpub.pdf

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

| ANNUAL REPORTS |  |  |  |  |
|----------------|--|--|--|--|
| FORM X-17 A-5  |  |  |  |  |
| PART Ill       |  |  |  |  |

| 0MB APPROVAL             |  |  |  |  |
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| 0MB Number: 3235-0123    |  |  |  |  |
| Expires: Nov. 30, 2026   |  |  |  |  |
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### SEC FILE NUMBER

8-68962

**FACING PAGE** 

**Information Required Pursuant to Rules 17a-5, 17a-12, and 18a-7 under the Securities Exchange Act of 1934** 

|                                                                                                                                       | ---------<br>FILING FOR THE PERIOD BEGINNING 11112025      |                                         | -----------<br>AND ENDING 1213112025 |                        |  |  |  |
|---------------------------------------------------------------------------------------------------------------------------------------|------------------------------------------------------------|-----------------------------------------|--------------------------------------|------------------------|--|--|--|
| -<br>MM/DD/VY                                                                                                                         |                                                            | MM/DD/VY                                |                                      |                        |  |  |  |
| A. REGISTRANT IDENTIFICATION                                                                                                          |                                                            |                                         |                                      |                        |  |  |  |
| NAME OF FIRM: Dynasty Securities, LLC                                                                                                 |                                                            |                                         |                                      |                        |  |  |  |
| TYPE OF REGISTRANT (check all applicable boxes):<br>iii Broker-dealer<br>D Check here if respondent is also an OTC derivatives dealer | D Security-based swap dealer                               | D Major security-based swap participant |                                      |                        |  |  |  |
| ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use a P.O. box no.)                                                                   |                                                            |                                         |                                      |                        |  |  |  |
| 200 Central Avenue, 15TH FLOOR                                                                                                        |                                                            |                                         |                                      |                        |  |  |  |
|                                                                                                                                       | (No. and Street)                                           |                                         |                                      |                        |  |  |  |
| Saint Petersburg                                                                                                                      |                                                            | FL                                      |                                      | 33701                  |  |  |  |
| (City)                                                                                                                                |                                                            | (State)                                 |                                      | (Zip Code)             |  |  |  |
| PERSON TO CONTACT WITH REGARD TO THIS FILING                                                                                          |                                                            |                                         |                                      |                        |  |  |  |
| Cameron Bullock                                                                                                                       | 813-505-0814                                               |                                         |                                      | cbullock@dynastyfp.com |  |  |  |
| (Name)                                                                                                                                | (Area Code -Telephone Number)                              |                                         | (Email Address)                      |                        |  |  |  |
|                                                                                                                                       | B. ACCOUNTANT IDENTIFICATION                               |                                         |                                      |                        |  |  |  |
| INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing*                                                             |                                                            |                                         |                                      |                        |  |  |  |
| YSL & Associates                                                                                                                      |                                                            |                                         |                                      |                        |  |  |  |
|                                                                                                                                       | (Name - if individual, state last, first, and middle name) |                                         |                                      |                        |  |  |  |
| 11 Broadway - Suite 700                                                                                                               | New York                                                   |                                         | NY                                   | 10004                  |  |  |  |
| (Address)                                                                                                                             | (City)                                                     |                                         | (State)                              | (Zip Code)             |  |  |  |
| 06/06/2006                                                                                                                            |                                                            | 2699                                    |                                      |                        |  |  |  |
|                                                                                                                                       |                                                            |                                         |                                      |                        |  |  |  |
|                                                                                                                                       | FOR OFFICIAL USE ONLY                                      |                                         |                                      |                        |  |  |  |
| * Claims for exemption from the requirement that the annual reports be covered by the reports of an independent public                |                                                            |                                         |                                      |                        |  |  |  |

accountant must be supported by a statement of facts and circumstances relied on as the basis ofthe exemption. See 17 CFR 240.17a-S(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 0MB control number.** 

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#### **OATH OR AFFIRMATION**

I, Mason Salit swear (or affirm) that, to the best of my knowledge and belief, the financial report pertaining to the firm of Dynasty Securities, LLC . as of December 31 , 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

Signature: Title:

Notary Public

as that of a customer.

**This filing\*\* contains (check all applicable boxes):** 

- Ill (a) Statement of financial condition.
- @ (b) Notes to consolidated statement of financial condition.
- D (c) Statement of income (loss) or, if there is other comprehensive income in the period(s) presented, a statement of comprehensive income (as defined in§ 210.1-02 of Regulation S-X).
- D (d) Statement of cash flows.
- □ (e) Statement of changes in stockholders' or partners' or sole proprietor's equity.
- □ (f) Statement of changes in liabilities subordinated to claims of creditors.
- □ (g) Notes to consolidated financial statements.
- □ (h) Computation of net capital under 17 CFR 240.15c3-1 or 17 CFR 240.18a-l, as applicable.
- D (i) Computation of tangible net worth under 17 CFR 240.18a-2.
- □ (j) 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 240.18a-4, as applicable.
- □ (I) Computation for Determination of PAB Requirements under Exhibit A to§ 240.15c3-3.
- D (m) Information relating to possession or control requirements for customers under 17 CFR 240.15c3-3.
- D (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.
- □ (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 240.18a-1, or 17 CFR 240.18a-2, as applicable, and the reserve requirements under 17 CFR 240.1Sc3-3 or 17 CFR 240.18a-4. as applicable, if material differences exist, or a statement that no material differences exist.
- D (p) Summary of financial data for subsidiaries not consolidated in the statement of financial condition.
- Ill (q) Oath or affirmation in accordance with 17 CFR 240.17a-5, 17 CFR 240.17a-12, or 17 CFR 240.18a-7, as applicable.
- □ (r) Compliance report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable.
- D (s) Exemption report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable.
- Ill (t) Independent public accountant's report based on an examination of the statement of financial condition.
- □ (u) Independent public accountant's report based on an examination of the financial report or financial statements under 17 CFR 240.17a-S, 17 CFR 240.18a-7, or 17 CFR 240.17a-12, as applicable.
- D (v) Independent public accountant's report based on an examination of certain statements in the compliance report under 17 CFR 240.17a-S or 17 CFR 240.18a-7, as applicable.
- D (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 240.1Sc3-le or 17 CFR 240.17a-12, as applicable.
- D (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-5(e)(3} or 17 CFR 240.1Ba-7{d}{2}, as applicable.

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![](_page_2_Picture_0.jpeg)

11 Broadway, Suite 700, New York, NY 10004 Tel: (212) 232-0122 Fax: (646) 218-4682

# **REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM**

To the Member of Dynasty Securities, LLC

## **Opinion on the Financial Statement**

We have audited the accompanying statement of financial condition of Dynasty Securities, LLC (the "Company") as of December 31, 2025, and the related notes (collectively referred to as the "financial statement"). In our opinion, the financial statement 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 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 presentation of the financial statement. We believe that our audit provides a reasonable basis for our opinion.

We have served as Dynasty Securities, LLC's auditor since 2023.

New York, NY March 27, 2026

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| ASSETS                                |      |
|---------------------------------------|------|
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| 3UHSDLG([SHQVHV                       |      |
| \$FFRXQWV5HFHLYDEOHDQG\$FFUXHG5HYHQXH |      |
| 'XHIURP3DUHQW                         |      |
| TOTAL ASSETS                          |      |
| LIABILITIES AND MEMBER'S EQUITY       |      |
| \$FFRXQWV3D\DEOHDQG\$FFUXHG([SHQVHV   | <br> |
| TOTAL LIABILITIES                     |      |
| MEMBER'S EQUITY                       |      |
| TOTAL LIABILITIES AND MEMBER'S EQUITY |      |

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# **NOTE 1 - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES:**

### *Organization:*

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## *Basis of Accounting:*

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### *Use of Estimates:*

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### *Revenue Recognition:*

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# DYNASTY SECURITIES, LLC NOTES TO THE STATEMENT OF FINANCIAL CONDITION DECEMBER 31, 2025

### Income Taxes:

The Company is treated as a partnership for federal and state income tax purposes; therefore, the taxable income or loss from the Company's operation is allocated to the Company's member.

The Company follows accounting standards that provide clarification on accounting for uncertainty in income taxes recognized in the Company's financial statements. The guidance prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return, and also provides guidance on de-recognition, classification, interest and penalties, disclosure and transition. At December 31, 2025, there are no significant income tax uncertaintes that are expected to have a material impact on the Company's 2025 financial statements. No interest or penalties were incurred for the year ended December 31, 2025.

### Cash:

All cash deposits are held by one financial institution and therefore are subject to the credit risk at that financial institution. The Company has not experienced any losses in such accounts and does not believe there to be any significant credit risk with respect to these deposits.

### Accounts Receivable and Accrued Revenue:

Accrued revenue arises when the Company has an unconditional right to receive payment under a contract with a customer and are derecognized when the cash is received. On January 1, 2025, there were accounts receivable and accrued revenue of \$684,195. On December 31, 2025, there were Accounts Receivable and Accrued Revenue of \$2,072,062 reported in the statement of financial condition. The Company applies ASC 326 Financial Instruments - Credit Losses, which requires entities to measure all expected credit losses for financial instruments held at the reporting date. Based on the composition of our accounts receivable, historical credit loss experience, age of balances, and current and future economic conditions, the Company does not maintain a credit reserve balance. The Company has not provided an allowance for credit losses at December 31, 2025.

### Contract Balances:

Contract assets arise when the revenue associated with the contract is recognized prior to the Company's unconditional right to receive payment under a contract with a customer (i.e., unbilled receivable) and are derecognized when either it becomes a receivable or the cash is received. Contract liabilities arise when customers remit contractual cash payments in advance of the Company satisfying its performance obligation under the contract and are derecognized when the revenue associated with the contract is recognized when the performance obligation is satisfied. The Company had no contract assets or liabilities on January 1, 2025 and December 31, 2025.

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# DYNASTY SECURITIES, LLC NOTES TO THE STATEMENT OF FINANCIAL CONDITION DECEMBER 31, 2025

### Subsequent Events:

The Company has evaluated its subsequent events and transactions occurring after December 31, 2025, through the date that the statement of financial condition was issued and determined that there are no material events that would require adjustment or disclosure in the Company's statement of financial condition.

## NOTE 2 - NET CAPITAL REQUIREMENTS:

The Company, as a member of FINRA, is subject to SEC Uniform Net Capital Rule 15c3-1 under the Securities Exchange Act of 1934, which requires the maintenance of minimum net capital and requires that the ratio of aggregate indebtedness to net capital, both as defined, shall not exceed 15 to 1. In addition, the Company is required to maintain a minimum net capital, as defined, equal to the greater of \$5,000 or 6.67% of aggregate indebtedness. At December 31, 2025, the Company had net capital of \$3,836,299 that exceeded the required net capital by \$3,831,299. The Company's ratio of aggregate indebtedness to net capital was 0.00 to 1 as of December 31, 2025.

## NOTE 3 - RELATED PARTY TRANSACTIONS

Certain of the Company's revenue contracts with external parties were originally executed by the Company's Parent and sole owner, Dynasty Financial Partners, LLC ("Parent"). These contracts have been assigned from Dynasty Financial Partners to the Company.

The Company has an Expense Sharing Agreement with its Parent, Dynasty Financial Partners, LLC. Expenses included in this agreement and revenue are paid or the Parent and reimbursed by Dynasty Securities, LLC. The Company accounts for a lease arrangement through the Expense Sharing Agreement as a short-term lease and does not recognize a right of use asset nor corresponding liability.

As of December 31, 2025, Parent owed Dynasty Securities, LLC an amount of \$53,811. Below is a summary table of the 2025 intercompany activity:

| Due to Parent Balance as of 12-31-24                           | \$ (142,881)   |
|----------------------------------------------------------------|----------------|
| Deposits received by the Parent on behalf of the Company       | \$ 1,358,824   |
| Deposits received by the Company on behalf of the Parent       | \$ (67,438)    |
| Expenses allocated and paid by Parent on behalf of the Company | \$ (1,094,694) |
| Due from Parent Balance as of 12-31-25                         | \$ 53,811      |

## NOTE 4-CONCENTRATION

As of December 31, 2025, five customers make up 96% of accounts receivable.

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## DYNASTY SECURITIES, LLC NOTES TO THE STATEMENT OF FINANCIAL CONDITION DECEMBER 31, 2025

### NOTE 5-RISKS AND UNCERTAINTIES

The Company's results are tied to global and domestic financial markets. Any material adverse impact to the global economies and financial markets could also impact the Company. This presents material uncertainty and risk with respect to the Company, its performance, and financial results.

### NOTE 6-SEGMENT REPORTING

The Company is engaged in a single line of business as a securities broker-dealer. The Company provides financial advisory services in connection with mergers, acquisitions, capital markets transactions, and referral arrangements related to financial advisors and their assets on a client platform. The Company has identified its CEO as the chief operating decision maker ("CODM"), who uses net income to evaluate the results of the business, to manage the Company. Additionally, the CODM uses excess net capital (see Note 2), which is not a measure of profit and loss, to make operational decisions while maintaining capital adequacy, such as whether to reinvest profits or pay dividends. The Company's operations constitute a single operating segment and therefore, a single reportable segment, because the CODM manages the business activities using information of the Company as a whole. The accounting policies used to measure the profit and loss of the segment are the same as those described in the summary of significant accounting policies.


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