# REHMANN FINANCIAL NETWORK, LLC X-17A-5 (2021-03-01) — Broker-dealer annual report
- Company: REHMANN FINANCIAL NETWORK, LLC
- Form: X-17A-5
- Filed: 2021-03-01
- Period: 2020-12-31
- Accession: 0001554729-21-000001
- CIK: 1554729
- File #: 8-69134
- Material weakness: No
- Auditor: Warren Averett, LLC
- Auditor location: Atlanta, GA
- Contact: Nicole Spitzley
- Phone: 517-316-2438
- Signed by: Nicole Spitzley (Chief Compliance Officer)
Original filing: https://www.sec.gov/Archives/edgar/data/1554729/000155472921000001/03.01.2021RFNFinal3.pdf
---
{0}------------------------------------------------
UNITEDSTATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549
OMB APPROVAL
Expires: October 31, 2023 Estimated average burden hours per response .. . . . . . 12.00
3235-0123
SEC FILE NUMBER
69134
OMB Number:
# ANNUAL AUDITED REPORT FORM X-17A-5 PART III
| FACING PAGE | |
|---------------------------------------------------------------------------|--|
| Information Required of Brokers and Dealers Pursuant to Section 17 of the | |
| Securities Exchange Act of 1934 and Rule 17a-5 Thereunder | |
| REPORT FOR THE PERIOD BEGINNING 01/01/2020 | | AND ENDING 12/31/2020 | | |
|----------------------------------------------------------------------------------------------------------------------------|---------------------------------------------------------|-----------------------|--------------------------------|--|
| | MMDDIYY | | MONTDD/Y Y | |
| | A. REGISTRANT IDENTIFICATION | | | |
| NAME OF BROKER-DEALER: Rehmann Financial Network, LLC
ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use P.O. Box No.) | | | OFFICIAL USE ONLY | |
| | | | FIRMI.D. NO. | |
| 4086 Legacy Parkway | | | | |
| | (No. and Street) | | | |
| Lansing | MI | | 48911 | |
| (City) | (Suite) | | (Zip Code) | |
| NAME AND TELEPHONE NUMBER OF PERSON TO CONTACT IN REGARD TO THIS REPORT
Nicole Spitzley | | | 517-316-2438 | |
| | | | (Area Code - Telephone Number) | |
| | B. ACCOUNTANT IDENTIFICATION | | | |
| INDEPENDENT PUBLIC ACCOUNTANT whose opinion is contained in this Report®
Warren Averett, LLC | (Name - if individual, state kast, first, middle name ) | | | |
| 6 Concourse Parkway, Suite 600 Atlanta | | GA | 30328 | |
| (Address) | (City ) | (Sule) | (Zip Code) | |
| CHECK ONE: | | | | |
| Certified Public Accountant | | | | |
| Public Accountant | | | | |
| Accountant not resident in United States or any of its possessions. | | | | |
| | FOR OFFICIAL USE ONLY | | | |
| | | | | |
| | | | | |
| | | | | |
\*Claims for exemption from the requirement that 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 2-0. 17a-S(e)(2)
> Potential persons who are to respond to the collection of information contained in this form are not required to reapond
> unless the form displays a currently valid OMB control number.
SEC 1410 (11-05)
{1}------------------------------------------------
#### OATH OR AFFIRMATION
| Nicola Spitzley | | swear (or affirm) that, to the best of |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------------------------------------------------|--------------------------------------------------------------|
| my knowledge and belief the accompanying financial statement and supporting schedules perfaining to the firm of
Rehmann Financial Network, LLC | | |
| of December 31 | | 20 20 are true and correct. I further swear (or affirm) that |
| neither the company nor any partner, principal officer or director has any proprietary interest in any account
classified solely as that of a customer, except as follows: | | |
| | | |
| | Signature | |
| | Chief Compliance Officer | |
| | Title | |
| | | |
| | N PHEINIG | |
| Notary Public | Nictary Public - State of Michigan | |
| This report ** contains (check all applicable boxes): | County of Eaton
My Commission Expires Nov 7, 2024 | |
| (a) Facing Page. | Acting in the County of LCCL 172Y | |
| (b) Statement of Financial Condition. | | |
| (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) Statement of Changes in Financial Condition. | | |
| (e) Statement of Changes in Stockholders' Equity or Partners' or Sole Proprietors' Capital. | | |
| (f) Statement of Changes in Liabilities Subordinated to Claims of Creditors. | | |
| (g) Computation of Net Capital. | | |
| (h) Computation for Determination of Reserve Requirements Pursuant to Rule 15c3-3. | | |
| (i) Information Relating to the Possession or Control Requirements Under Rule 15c3-3.
(i) 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 15c3-3. | | |
| (k) A Reconciliation between the audited and unaudited Statements of Financial Condition with respect to methods of
consolidation. | | |
| 1 (1) 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 of the previous audit. | | |
| | | |
\*\* For conditions of confidential treatment of certain portions of this filing, see section 240.17a-5(e)(3).
{2}------------------------------------------------
# Rehmann Financial Network, LLC
Year Ended December 31, 2020
Financial Statements and Supplemental Information
{3}------------------------------------------------
| •
TABLE OF CONTENTS | PAGE |
|--------------------------------------------------------------------------------------------------------------------|------|
| Report of Independent Registered Public Accounting Firm | |
| Financial Statement for the Year Ended December 31, 2018 | |
| Statement of Financial Condition | 2 |
| Statement of Income | 3 |
| Statement of Changes in Member's Equity | 4 |
| Statement of Cash Flows | 5 |
| Notes to Financial Statements | 6 |
| Supplemental Information | |
| Computation of Net Capital Pursuant to Rule 15c3-1 of the Securities
Exchange Act of 1934 (Schedule I) | 9 |
| Other Information (Schedule II) | 10 |
| Exemption Report SEA Rule 17a-5(d)(4) | 11 |
| Report of Independent Registered Public Accounting Firm
Review of the Exemption Report SEA Rule 17a-5(g)(2)(ii) | 12 |
{4}------------------------------------------------
#### **REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM**
To the Member of Rehmann Financial Network. LLC
#### **Opinion on the Financial Statements**
We have audited the accompanying statement of financial condition of Rehmann Financial Network. LLC as of December 31, 2020, the related statements of income, changes in member's equity, 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 Rehmann Financial Network, LLC 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 Rehmann Financial Network, LL C's management. Our responsibility is to express an opinion on Rehmann Financial Network, LLC'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 Rehmann Financial Network, LLC 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 provides a reasonable basis for our opinion.
#### Auditor's Report on Supplemental Information
The supplementary information contained in Schedule I, Computation of Net Capital Under Rule 15c3-1 and Schedule II, Other Information have been subjected to audit procedures performed in conjunction with the audit of Rehmann Financial Network, LLC's financial statements. The supplemental information is the responsibility of Rehmann Financial Network, LLC'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. In forming our opinion on the supplemental information. we evaluated whether the supplemental information. including its form and content, is presented in conformity with 17 C.F .R. §240.17a-5. In our opinion, the supplemental information is fairly stated. in all material respects. in relation to the financial statements as a whole.
We have served as Rehmann Financial Network, LLC's auditor since 2014. Atlanta, GA February 26. 2021
{5}------------------------------------------------
# **a Statement of Financial Condition**
December 31, 2020
| Assets | | |
|---------------------------------------------|---|---------|
| Cash -
Chase | s | 359,216 |
| Prepaid Expenses | | 23,139 |
| Total Assets | s | 382,355 |
| Liabilities and Member's Equity | | |
| Liabilities | | |
| Accounts Payable | s | 5,757 |
| Accrued Payroll | | 5,161 |
| Accounts Payable - Related Party | | 7,575 |
| Total Liabilities | | 18,493 |
| Member's Equity | | |
| Paid in Capital - Rehmann Financial Network | | 107,140 |
| Member's Equity | | 256,722 |
| Total Member's Equity | | 363,862 |
| Total Liabilities and Member's Equity | s | 382,355 |
| | | |
{6}------------------------------------------------
# II **Statement of Operations**
Year Ended December 31, 2020
| Income | |
|----------------------------------|----------------|
| Broker - Dealer | s
571 ,11 9 |
| Total Net Fees | 571 ,11 9 |
| Salaries | |
| Payroll Expense | 47,160 |
| Payroll Expense - Advisors | 112,413 |
| Payroll Taxes | 2,076 |
| Total Salaries | 161,649 |
| Personnel | |
| 401 (k) Expense | 816 |
| Group Insurance Benefits | 2,256 |
| Professional Dues | 312 |
| Professional Education | 1,1 76 |
| Em ployee Relations | 528 |
| Total Personnel | 5,088 |
| Facilities | |
| Rent | 5,460 |
| Overhead Allocation | 5,052 |
| Total Facilities | 10,512 |
| Lomputer t-acumes | |
| Computer Software | 6,404 |
| Computer Licenses | )9,923 |
| Total Computer Facilities | 46,327 |
| Other Operating Expenses | |
| Insurance | 2,220 |
| Subscription Publication Service | ),513 |
| License Fees | )2,615 |
| Office Supplies and Expenses | 156 |
| Telephone | 372 |
| Professional Services | 48,594 |
| Auto and Travel Expense | ),708 |
| Total Other Operating Expenses | 91,178 |
| Total Expenses | 314,754 |
| Net Income | \$
256,365 |
{7}------------------------------------------------
| II Statement of Changes in Member's Equity | |
|--------------------------------------------|---------------|
| Year Ended December 31, 2020 | |
| Balance at December 31, 2019 | \$
515,755 |
| Contributions | |
| Distributions | (408,258) |
| Net Income | 256,365 |
| Balance at December 31, 2020 | \$
363,862 |
{8}------------------------------------------------
| Statement of Cash Flows
• | | |
|---------------------------------------------|----|-----------|
| Year Ended December 31, 2020 | | |
| Cash from Operating Activities | | |
| Net Income | s | 256,365 |
| Adjustments to Reconcile Net income to Net | | |
| Cash Provided by Operating Activities | | |
| Changes in Operating Assets and Liabilities | | |
| Which Provided (Used) Cash | | |
| Prepaid Expenses | | 1,701 |
| Accounts Payable | | 687 |
| Accrued Payroll | | (4,707) |
| Accounts Payable - Related Party | | 996 |
| Net Cash Provided by Operating Activities | | 255,042 |
| Cash Flows Used In Financing Activities | | |
| Distributions | | (408,258) |
| Net Cash Used In Financing Activities | | (408,258) |
| Net Decrease in Cash | | (153,216) |
| Cash, Beginning of Year | | 512,432 |
| Cash, End of Year | \$ | 359,216 |
| Supplemental Cash Flow Disclosure: | | |
| Accounts Payable converted to equity | s | |
| | | |
{9}------------------------------------------------
#### • NOTES TO FINANCIAL STATEMENTS
#### 1. DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
General Organization and Business: Rehmann Financial Network, LLC (the "Company") was incorporated in Michigan on July 9, 2012. The Company is a registered broker·deater under the Securities Exchange Act of 1934. The Company is a wholly-owned subsidiary of Rehmann Financial Group, ("RFG") a Michigan LLC. The Company started operations on April 16, 2014. The Company engages in the sale of Mutual Funds and Variable Annuities via "subscription way" /"application way" basis (aka "check and ap"). Mutual funds and variable annuities will be processed via thirdparty applications and checks or wires made out to the third-party fund company via a "subscription way basis". The Company does not hold customer funds or saf ekeep customer securities. The firm does not have a clearing agreement.
Basis of Accounting: The Company prepares its financial statements on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America.
Revenue Recognition: Commission revenue is predominantly income received from other third party broker dealers and insurance carriers that is recognized when the terms of the sale of products and services to customers are substantially complete and collectability of the income is probable and determinable.
Income Taxes: The Company' s income or loss is reported on the member' s tax return. Accordingly , the financial statements do not include a provision for income tax.es.
Management does not believe there are any uncertain tax positions as defined by Financial Accounting Standards Board (FASBl Accounting Standards Codification (AS() 740 *Accounting for* Income Taxes. The Company could be subject to income tax examinations for its U.S. Federal and state tax filings for tax years 2017 to 2019, which are still open under the statute of limitations.
Use of Estimates: The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates.
Cash: As of December 31 , 2018, the Company did not hold any cash equivalents. The Company maintains balances with banks in excess of federally insured limits. Management believes the exposure to loss from such balances to be minimal. As of December 31, 2018, the Company's uninsured cash balance was approximately S 120,000.
Fair Value of Financial Instruments: The Company estimates that the fair value of any financial instruments recognized on the statement of financial condition approximates their carrying value, as such financial instruments are short term in nature. Other assets and liabilities with short and intermediate-term maturities and defined settlement amounts, including receivables, payables and accrued expenses are reported at their contractual amounts, with approximate fair value.
Recent Accounting Pronouncements: On August 28, 2018, the FASB issued ASU Update 2018-13, Fair Value Measurement (Topic 820) Disclosure Framework-Changes to the disclosure Requirements for Fair Value Measurement. The amendments in ASU 2018· 13 apply to all entities that are required, under existing U.S. generally accepted accounting principles (U.S. GAAP), to make disclosures about recurring or nonrecurring fair value measurements. The amendments in
{10}------------------------------------------------
#### • **NOTES** TO **FINANCIAL STATEMENTS**
ASU 2018-13 are effective for all entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019.
Subsequent Events: The Company has evaluated events and transactions that occurred between December 31, 2020 and February 26, 2021 which is the date the financial statements were issued, for possible recognition or disclosure in the financial statements.
#### **2. NET CAPITAL REQUIREMENT**
The Company, as a registered broker-dealer in securities, is subject to the Securities and Exchange Commission Uniform Net Capital Rule (Rule 15c3-1 ). The Company has elected to operate under that portion of the Rule which requires that the Company maintain "net capital" equal to the greater of \$5,000 or 6 2h% of "aggregate indebtedness," as those terms are defined in the Rule. Schedule I is included in the Supplemental Information of this report.
Net capital and aggregate indebtedness changes from day-to-day, but as of December 31 , 2020, the Company had net capital of \$325,723, which exceeded the minimum net capital requirement of \$5,000 by \$320,723. The Company's ratio of aggregate indebtedness to net capital was 0.057 to 1.
#### **3. RELATED PARTY TRANSACTIONS**
The Company is a member of a group of affiliated companies and has material transactions and relationships with members of the group. Due to these relationships, it is possible that the terms of these transactions are not the same as those that would result among unrelated parties.
(a) Transactions with Rehmann Financial Group
RFG pays substantially all the accounts payable and payroll on behalf of the Company and RFG is reimbursed on a routine basis. RFG also provides general overhead services to the Company, such as (but not limited to) the cost of processing centralized accounts payable and payroll, as well as accounting and financial planning services which are charged by RFG. At December 31 , 2020, the net amount of cash owed by the Company to RFG was S7,575 and is included in accounts payable - related party on the statement of financial condition.
#### **4. DEFINED CONTRIBUTION PLAN**
Defined Contribution Plan: The Rehmann, LLC 401 (k) Plan covers substantially all employees of the Company. Rehmann matches 30% of each participant's contributions not in excess of 10% of their compensation for each pay period.
{11}------------------------------------------------
# • **Computation of Net Capital to Rule 15c3-1 (Schedule I)**
December 31, 2020
| Computation of Net Capital | |
|----------------------------------------------------------------|---------------|
| ifotal member's equitya | \$
363,862 |
| l)educt non-allowable assets | (23,139) |
| @ther deductions | (15,000) |
| Net capital | \$
325,723 |
| Computation of Aggregate Indebtedness | |
| ifotal aggregate indebtedness | \$
18,493 |
| Computation of Minimum Net Capital Requirement | |
| Net capital | \$
325,723 |
| Minimum net capital to be maintained | |
| {greater of \$5,000 or 6 2/3% of total aggregate indebtedness) | 5,000 |
| ~et capital in excess of requirement | \$
320)723 |
| i:tercentage of aggregate indebtedness to net capital | 5.68% |
There is no significant difference between net capital as computed by the Company on its corresponding unaudited Form X-17A-5 as of December 31, 2020 as filed on January 22, 2021 and the audited financial statements at December 31, 2020.
{12}------------------------------------------------
### • **Other lnfortnation** - **(Schedule** II)
December 31, 2020
#### A) COMPUTATION FOR DETERMINATION OF RESERVE REQUIREMENTS UNDER RULE 15c3-3 OF THE SECURITIES AND EXCHANGE COMMISSION AS OF DECEMBER 31, 2020
The Company is considered a Non-Covered Firm and, as such, is not required to comply with Rule 15c3-3 by reason of the SEC's guidance set forth in circumstances described in footnote 74 to Exchange Act Release No. 34-70073 {July 30, 2013).
#### **B)** INFORMATION RELATING TO THE POSSESSION OR CONTROL REQUIREMENTS UNDER RULE 1Sc3-3 OF THE SECURITIES AND EXCHANGE COMMISSION AS OF DECEMBER 31, 2020
The Company is considered a Non-Covered Firm and, as such, is not required to comply with Rule 15c3-3 by reason of the SEC's guidance set forth in circumstances described in footnote 74 to Exchange Act Release No. 34-70073 (July 30, 2013).
#### **C) STATEMENT OF CHANGES IN LIABILITIES SUBORDINATED TO CLAIMS OF GENERAL CREDITORS AS OF DECEMBER 31, 2020**
The statement of changes in liabilities subordinated to claims of general creditors has been omitted since Rehmann Financial Network, LLC had no such liabilities outstanding at the beginning of the year, during the year or at year end.
{13}------------------------------------------------
**Rehmann Financial**
4086 Legacy Parkway Lansing, MI 48911 Ph: 511.316.2400 **Fx:** 517.316.2401 rehmann.com
February 26, 2021
Warren Averett Six Concourse Parkway Suite 600 Atlanta, GA 30338
#### **Rehmann Financial Network, LLC.'s Exemption Report**
Rehmam1 Financial Network, LLC (the "Company") is a registered broker-dealer subject to Rule l 7a-5 promulgated by the Securities and Exchange Commission (17 C.F.R. §240. l 7a-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)(J) and (4). To the best of its knowledge and belief, the Corporation states the following:
- (1) The Company met the identified exemption provisions in 17 C.F.R. 240.15c3-3 throughout the period from January I, 2020 through September 30, 2020. without exception.
- (2) The Company met the identified exemption provisions under Footnote 74 of the SEC Release No.34-70073 during the period from October l, 2020 through December 31, 2020, without exception. The Company adhered to the net capital requirement pursuant to SEC Rule l 5c3- I ( I )(2)( vi) and did not receive or hold customers' funds or securities and did not carry customers' accounts.
The above statement is true and correct to the best of my and the Company's knowledge.
Name: Nicole Spitzley Title: Chief Compliance Officer
Securities offered tlu"ough Rehmami Financial Networkt U.C, member FINRA/SlPC. Investment .advisory services ottered through Relunann Fmancial, a Registered Investment Advisor. Retunann IS .ut i.ndepe-ndent member of N exb. ln.terna.tto.n..;u. Ne xi.a. is not .a.ttlli-.ted wil.h. Rshm...nn Fin..ncial Network. *U.C,* 01' Rehm.um Financi~-
{14}------------------------------------------------
#### **REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM**
To the Member of Rehmann Financial Network, LLC
We have reviewed management's statements, included in the accompanying Rehmann Financial Network, LL C's Exemption Report, in which (1) the Company met the identified exemptive provisions in 17 C.F.R. §15c3-3(k) under which the Company claimed an exemption from 17 C.F.R. §240.15c3-3: (2)(i) (exemption provisions) throughout the period from January 1, 2020 through September 30, 2020, without exception and the Company met the identified exemption provisions under Footnote 74 of the SEC Release No. 34-70073 during the period from October 1, 2020 through December 31, 2020, without exception and (2) Rehmann Financial Network, LLC stated that Rehmann Financial Network, LLC. met the identified exemption provisions throughout the most recent fiscal year without exception. Rehmann Financial Network, LLC.'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 other required procedures to obtain evidence about Rehmann Financial Network, LLC'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 paragraph (k)(2)(i) of Rule 15c3-3 under the Securities Exchange Act of 1934 for the period from January 1, 2020 through September 30, 2020 and under Footnote 7 4 of the SEC Release No. 34-70073 from October 1, 2020 through December 31 , 2020.
Atlanta, GA February 26, 2021
{15}------------------------------------------------
#### **REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM ON APPL YING AGREED-UPON PROCEDURES**
Member of Rehmann Financial Network, LLC
We have performed the procedures included in Rule 17a-5(e)(4) under the Securities Exchange Act of 1934 and in the Securities Investor Protection Corporation (SIPC) Series 600 Rules, which are enumerated below and were agreed to by Rehmann Financtal Network, LLC and the SIPC, solely to assist you and SIPC in evaluating Rehmann Financial Network, LLC's compliance with the applicable instructions of the General Assessment Reconciliation (Form SIPC-7) for the year ended December 31, 2020. Rehmann Financial Network, LLC's management is responsible for its Form SIPC-7 and for its compliance with those requirements. This agreed-upon procedures engagement was conducted in accordance with standards established by the Public Company Accounting Oversight Board (United States) and in accordance with attestation standards established by the American Institute of Certified Public Accountants. The sufficiency of these procedures is solely the responsibility of those parties specified in this report. Consequently, we make no representation regarding the sufficiency of the procedures described below either for the purpose for which this report has been requested or for any other purpose. The procedures we performed and our findings are as follows:
- 1) Compared the listed assessment payments in Form SIPC-7 with respective cash disbursement records entries, noting no differences;
- 2) Compared the Total Revenue amounts reported on the Annual Audited Report Form X-17A-5 Part Ill for the year ended December 31 , 2020 (for Statement of Operations amounts that are presented on a quarterly basis in the Form X-17 A-5, we aggregated the amounts for the periods presented for the period January 1, 2020 through March 31, 2020; April **1,** 2020 through June 30. 2020: July **1.** 2020 through September 30. 2020; and October **1.** 2020 through December 31 , 2020), as applicable, with the Total Revenue amounts reported in Form SIPC-7 for the year ended December 31, 2020, noting no differences;
- 3) Compared any adjustments reported in Form SIPC-7 with supporting schedules and working papers, noting no differences;
- 4) Recalculated the arithmetical accuracy of the calculations reflected in Form SIPC-7 and in the related schedules and working papers. We agreed all adjustments to the audited trial balance noting clerical accuracy and recalculated the fee paid to the Securities Investor Protection CorporaUon supporting the adjustments noting no differences; and
- 5) Noted that no overpayment existed based on the calculations described above and noted that Form SIPC-7 did not indicate any overpayment.
{16}------------------------------------------------
We were not engaged to, and did not conduct an examination or review, the objective of which would be the expression of an opinion or conclusion, respectively, on Rehmann Financial Network, LLC's compliance with the applicable instructions of the Form SIPC-7 for the year ended December 31, 2020. Accordingly, we do not express such an opinion or conclusion. Had we performed additional procedures, other matters might have come to our attention that would have been reported to you.
This report is intended solely for the information and use of Rehmann Financial Network, LLC and the SIPC and is not intended to be and should not be used by anyone other than these specified parties.
Atlanta, GA February 26, 2021
{17}------------------------------------------------
| CURITIES INVESTOR PROTECTION CORPORATION
P.O. Box 92185 Washington, D.C. 20090-2185
202-371-8300
General Assessment Reconciliation | (36-REV 12/18 |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (36-REV 12/18) | |
| For the fiscal year ended 12/31/2020
(Read carefully the instructions in your Working Copy before completing this Form) | |
| TO BE FILED BY ALL SIPC MEMBERS WITH FISCAL YEAR ENDINGS | |
| 1. Name of Member, address, Designated Examining Authority, 1934 Act registration no. and month in which liscal year ends for
purposes of the audit requirement of SEC Rule 17a-5:
IXED AADC 220
69134 FINRA DEC
REHMANN FINANCIAL NEWWORK LLC
ATTN: NICOLE
4086 LEGACY PKWY
LANSING, MI 48911-4261 | Note: If any of the information shown on the
mailing label requires correction, please e-mail
any corrections to form@sipc.org and so
indicate on the form filed.
Name and telephone number of person to
contact respecting this form. |
| 2. A. General Assessment (item 2e from page 2)
8. Less payment made with SIPC-6 filed (exclude interest)
07/24/2020 | |
| Date Paid
C. Less prior overpayment applied | |
| D. Assessment balance due or (overpayment) | |
| | |
| E. Interest computed on late payment (see instruction E) lor days at 20% per annum | |
| F. Total assessment balance and interest due (or overpayment carried forward)
G. PAYMENT: V the box
Check mailed to P.O. Box J Funds Wired 2
ACH J
Total (must be same as F above)
H. Overpayment carried forward | |
| 3. Subsidiaries (S) and predecessors (P) included in this form (give name and 1934 Act registration number); | |
| The SIPC member submitting this form and the
person by whom it is executed represent thereby
that all information contained herein is true, correct
and complete. | pratise, Parlnership or other or allum of any and |
| | Authorized |
| This form and the assessment payment is due 60 days atter the end of the Working Copy of this form
for a period of not less than 6 years, the latest 2 years in an easily accessible place.
Dates:
Postmarked
Received
Reviewed | (Title) |
| SIPC REVIEWER
Calculations . | |
| Documentation _ | Forward Copy _ |
| Exceptions: | |
| Disposition of exceptions: | |
{18}------------------------------------------------
# DETERMINATION OF "SIPC NET OPERATING REVENUES" AND GENERAL ASSESSMENT
Amounts for the fiscal period beginning 1/1/2020 and ending 12/31/2020
| Item No. | | |
|----------|--|--|
| | | |
- 2a. Total revenue (FOCUS Line 12/Part IIA Line 9, Code 4030)
- 2b. Addillions:
- (1) Total revenues from the securities business of subsidiaries (except loreign subsidiaries) and predecessors not included above.
- (2) Net loss from principal transactions in securities in trading accounts.
- (3) Net loss from principal transactions in commodities in trading accounts.
- (4) Interest and dividend expense deducted in determining item 2a.
- (5) Nel loss from management of or participation in the underwrilling or distribution of securities.
- (6) Expenses other than advertising, printing, registration fees and legal tees deducted in determining nel profit from management of or participation in underwriting or distribution of securities.
- (7) Net loss from securities in investment accounts.
- Total additions
#### 2c. Deductions:
- [1) Revenues from the distribution of shares of a registered open and investment company or unit investment trust, from the sale of variable annuilies, from the business of insurance, from investment advisory services rendered to registered investment companies or insurance company separate accounts, and from transactions in security lutures products.
- (2) Revenues from commodity fransactions.
- (3) Commissions, floor brokerage and clearance paid to other SIPC members in connection with securities transactions.
- (4) Reimbursements for postage in connection with proxy solicitation.
- (5) Nel gain from securities in investment accounts.
- (6) 100% of commissions and markups earned from transactions in (i) certificates of deposit and (ii) Treasury bills, bankers acceptances or commercial paper that mature nine months of less from issuance date.
- (7) Direct expenses of printing advertising and legal lees incurred in connection with other revenue related to the securities business (revenue defined by Section 16(9)(L) of the Act).
- (8) Other revenue not related either directly or indirectly to the securities business. (See Instruction C):
(Deductions in excess of \$100,000 require documentation)
- (9) (i) Total interest and dividend expense (FOCUS Line 22/PART IIA Line 13. Code 4075 plus line 20(4) above) but not in excess of lotal interest and dividend income.
- (ii) 40% of margin interest earned on customers securities accounts (40% of FOCUS line 5. Code 3960).
Enter the greater of line (i} or (ii)
Total deductions
- 2d. SIPC Net Operating Revenues
- 2e. General Assessment @ . 0015
Eliminate cents 230 601.
12,412
Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.