# PROPEL ADVISORY GROUP, INC. X-17A-5 (2021-02-26) — Broker-dealer annual report
- Company: PROPEL ADVISORY GROUP, INC.
- Form: X-17A-5
- Filed: 2021-02-26
- Period: 2020-12-31
- Accession: 0001554548-21-000001
- CIK: 1554548
- File #: 8-69124
- Material weakness: No
- Auditor: DAVID LUNDGREN AND COMPANY, CPAS
- Auditor location: OLATHE, KS
- Contact: AARON PRISCO
- Phone: 404-876-1119
- Signed by: AARON PRISCO (PRESIDENT)
Original filing: https://www.sec.gov/Archives/edgar/data/1554548/000155454821000001/propel2020auditpublic.pdf
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?ubl ic.l { AVAi *I 1th/e-*UNITED STATES SECURITIESANDEXCHANGECOMMJSSION Washington, D.C. 20549 ANNUAL AUDITED REPORT FORM X·17A-5 PART Ill OMB APPROVAL OMB Number: 3235-0123 Expires: August 31, 2020 Estimated average burden hours oer response ••.... 12.00 SEC ALE NUMBER a.69124 FACING PAGE Information Required of Brokers and Dealers Pursuant to Section 17 of the Securities Exchange Act of1934 and Rule 17a-S Thereunder REPORT FOR THE PERIOD BEGINNING 01 /01 /2020 AND ENDING �12�/3�1 /2�02�0 ����� *MMIDDNY* A. REGISTRANT IDENTIFICATION NAME OF BROKER-DEALER: Propel Advisory Group, Inc. ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use P.O. Box No.) 2215 lxora Avenue MMJDD/YY OFFICIAL USE ONLY FIRM 1.0. NO. Sarasota {City) (No. and Street) FL (State) 34234 (Zip Code) NAME AND TELEPHONE NUMBER OF PERSON TO CONTACT IN REGARD TO THIS REPORT Aaron Prisco 404-876-1119 (Area Code - Telephone Nwnber) B. ACCOUNTANT IDENTIFICATION INDEPENDENT PUBLIC ACCOUNTANT whose opinion is contained in this Report• David Lundgren and Company, CPAs (Name - *if individual, state last, first, middle* name) 505 N Mur-Len Rd (Address) Olathe (City) KS (State) 66062 (Zip Code) CHECK ONE: ("'!Certified Public Accountant B Public Accountant Accountant not resident in United States or any of its possessions. FOR OFFICIAL USE ONLY *\*Claims for exemption from the requirement lhaJ the annual report be covered by the opinion of an independent public accountant*
*must be supported by a statement of facts and circumstances relied on as the basis for the exemption. See Section 140.17 a-5(e)(2)*
PQtentlal persons who are to respond to the collection Of Information contained in this form are not required to respond unless the form displays a currenttyvalld OMBcontrol number,
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# **OATH OR AFFIRMATION**
| J, Aaron Prisco | , swear (or affirm) that, to the best of |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| Propel Advisory Group, Inc. | my knowledge and belief the accompanying financial statement and supporting schedules pertaining to the firm of |
| of December 31 | �---����������������������������������������-· as
• 20___
__, are true and correct. I further swear (or affirm) that
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| classified solely as that of a customer, except as follows: | neither the company nor any partner, proprietor, principal officer or director has any proprietary interest in any account |
| | �
Signature |
| | President
Title |
| | Ricardo Terrazas
Notary Public
State of Florida |
| This report * contains (check all applicable boxes):
0
(a) Facing Page.
Statement of Financial Condition.
.,
(b)
Statement of Income (Loss).
(c) | My Commission Expires 10/02/2024
Commission No. HH 22177 |
| Statement of Changes in Financial Condition.
(d)
Statement of Changes in Stockholders' Equity or Partners' or
(e)
Statement of Changes in Liabilities Subordinated to Claims of Creditors.
(f)
Computation of Net Capital.
(g)
Computation for Determination of Reserve Requirements Pursuant to Rule I 5c3-3.
(h) | Sole Proprietors' Capital. |
| Information Relating to the Possession or Control Requirements Under Rule l 5c3-3.
(i)
0
0) | A Reconciliation, including appropriate explanation of the Computation of Net Capital Under Rule
15c3-1 and the
Computation for Determination of the Reserve Requirements Under Exhibit A of Rule I 5c3-3. |
- A Reconciliation between the audited and unaudited Statements of Financial Condition with respect to methods of consolidation. D Ck)
- 0 (I) An Oath or Affirmation.
- D (m) A copy of the SIPC Supplemental Report.
- D (n) A report describing any material inadequacies found to exist or found to have existed since the date of the previous audit.
\*\* *For conditions of confidential treatment of certain portions of this filing, see section 240. I 7a-5(e)(3).*
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**DAVID LUNDGREN & COMPANY** CERTIFIED PUBLIC ACCOUNTANTS, CHAIITT:RED 505 NORTH MUR·LEN ROAD. OLATHE, KANSAS 66062
DAVID 8, LUNDGREN, MBA, CPA CATiii.\_RINE LUNDGREN MBA. CPA
TELEPHONE (913) 782-9530 FACSIMILE (913)782·9564
#### REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
To the Board of Directors and Members of Propel Advisory Group, Inc.
## Opinion on the'Financlal Statements
We have audited the accompanying statement of financial condition of Propel Advisory Group, Inc. as of December 31, 2020, and the related notes and schedules (collectively referred to as the financial statement). In our opinion. the statement of financial condition presents fairly, in all material respects, the financial position of Propel Advisory Group, Inc. as of December 3\ 2020, in conformity with accounting principles generally accepted in the United States of America.
## B�sis for Opinion
This financial statement is the responsibility of Propel Advisory Group, lnc.'s management. Our responsibility is to express an opinion on Propel Advisory Group, inc.'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 Propel Advisory Group, Inc. in accordance with the U.S. federal securities laws and the applicable rules and regulatiol)s 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 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 e\_stimates 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.
*2)*��*1*�
We have served as Propel Advisory Group, lnc.'s auditor since 2017.
: -,
Olathe, Kansas February 23, 2021
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#### PROPEL ADVISORY GROUP, INC.
#### STATEMENT OF FINANCIAL CONDITION DECEMBER 31, 2020
ASSETS
Current assets:
| Cash | \$
93,419 |
|--------------------------------------------------------------|--------------|
| Total current assets | 93,419 |
| Other assets: | |
| Prepaid expenses | 1, 169 |
| Total other assets | 1,169 |
| | |
| | \$
94,588 |
| LIABILITIES AND STOCKHOLDER'S EQUITY
Current liabilities: | |
| Accounts payable and accrued expenses | \$
4,870 |
| Loans | 20,800 |
| Total current liabilities | 25,670 |
| Stockholder's equity: | |
| Common stock, no par value; 100 shares | |
| authorized, issued and outstanding | 38,000 |
| Contributed capital | 5,000 |
| Distributed capital | (925,405) |
| Retained earnings | 951,323 |
| Total stockholder's equity | 68,918 |
| | |
| | \$
94,588 |
See notes to financial statements.
Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.