# RICHARD JAMES & ASSOCIATES, INC. X-17A-5 (2026-04-24) — Broker-dealer annual report - Company: RICHARD JAMES & ASSOCIATES, INC. - Form: X-17A-5 - Filed: 2026-04-24 - Period: 2025-12-31 - Accession: 0001586742-26-000004 - CIK: 1586742 - File #: 8-69352 - Type: Broker-dealer - Material weakness: No - Auditor: NawrockiSmith Accountants&Advisors - Auditor location: Hauppauge, NY - Contact: Phil - Phone: Florio - Email: pflorio@rjany.com - Website: rjany.com - Signed by: Phil Florio (CEO) Original filing: https://www.sec.gov/Archives/edgar/data/1586742/000158674226000004/x17a5rjapublicreport20251.pdf --- {0}------------------------------------------------ RICHARD JAMES & ASSOCIATES, INC. STATEMENT OF FINANCIAL CONDITION DECEMBER 31, 2025 **PUBLIC** {1}------------------------------------------------ OMB APPROVAL UNITED STATES OMB Number: 3235-0123 SECURITIES AND EXCHANGE COMMISSION Expires: Nov. 30, 2026 Washington, D.C. 20549 Estimated average burden hours per response: 12 ANNUAL REPORTS SEC FILE NUMBER FORM X-17A-5 8-69352 PART III FACING PAGE Information Required Pursuant to Rules 17a-5, 17a-12, and 18a-7 under the Securities Exchange Act of 1934 AND ENDING 12/31/25 filing for the period beginning 1/1/25 MM/DD/YY MM/DD/YY A. REGISTRANT IDENTIFICATION NAME OF FIRM: RICHARD JAMES & ASSOCIATES, INC. TYPE OF REGISTRANT (check all applicable boxes): Broker-dealer □ Check here if respondent is also an OTC derivatives dealer ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use a P.O. box no.) 2 ROOSEVELT AVE. STE. 102 (No. and Street) 11791 NY SYOSSET (Zip Code) (City) (State) PERSON TO CONTACT WITH REGARD TO THIS FILING 516-200-3173 PHIL FLORIO PFLORIO@RJANY.COM (Email Address) (Area Code - Telephone Number) (Name) B. ACCOUNTANT IDENTIFICATION INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing\* NAWROCKI SMITH (Name – if individual, state last, first, and middle name) 100 MOTOR PARKWAY, STE. 580 HAUPPAUGE NY 11788 (State) (Zip Code) (Address) (City) 3/4/2009 3370 (PCAOB Registration Number, if applicable) (Date of Registration with PCAOB)(if applicable) FOR OFFICIAL USE ONLY \* Claims for exemption from the requirement that the annual reports of an independent public accountant must be supported by a statement of facts and circumstances relied on as the basis of the exemption. See 17 CFR 240.17a-5(e)(1)(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. {2}------------------------------------------------ #### OATH OR AFFIRMATION | PHIL FLORIO | | | swear (or affirm) that, to the best of my knowledge and belief, the | | |-------------|--|--|-----------------------------------------------------------------------------|-------| | | | | financial report pertaining to the firm of RICHARD JAMES & ASSOCIATES, INC. | as of | | | | | 2 025 | | | | | | | | partner, officer, director, or equivalent person, as the case may be, has any proprietary interest in any account classified solely as that of a custome of ORKIN NOTARY PUBLIC, STATE OF NEW YORK Registration No. 4761045 Qualified in Nassau County Commission Expires January 31, 20 Title: CFO/CCC Notary Pub #### This filing\*\* contains (check all applicable boxes): - (a) Statement of financial condition. - = (b) Notes to consolidated 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 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. - [ - [ (i) Computation of tangible net worth under 17 CFR 240.18a-2. - | | |} 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. - □ (l) Computation for Determination of PAB Requirements under Exhibit A to § 240.15c3-3. - □ (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. - O (o) Reconciliations, including appropriate explanations, of the FOCUS Report with computation of net capible net worth under 17 CFR 240.15c3-1, 17 CFR 240.18a-2, or 17 CFR 240.18a-2, as applicable, and the reserve requirements under 17 CFR 240.15c3-3 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. - | (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 240.18a-7, as applicable. - [ {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. - □ (u) Independent public accountant's report based on an examination of the 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 240.17a-5 or 17 CFR 240.18a-7, as applicable. - □ (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. - O (x) Supplemental reports on applying agreed-upon procedures, in accordance with 17 CFR 240.17a-12, as applicable. - □ (y) Report describing any material inadequacies 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 240.180-7(d)(2), as applicable. {3}------------------------------------------------ ![](_page_3_Picture_0.jpeg) ## **REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM** To the Shareholder of Richard James & Associates, Inc.: ## **Opinion on the Financial Statement** We have audited the accompanying statement of financial condition of Richard James & Associates, Inc. (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 Richard James & Associates, Inc. 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 U.S. 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 Richard James and Associates Inc.'s auditor since 2017. Hauppauge, New York April 14, 2026 {4}------------------------------------------------ # RICHARD JAMES & ASSOCIATES, INC. # STATEMENT OF FINANCIAL CONDITION # DECEMBER 31, 2025 ## ASSETS | Cash | \$
5,171 | |--------------------------|-------------| | Due from clearing broker | 150,008 | | Receivable from parent | 51,554 | | Other assets | 16,475 | | TOTAL ASSETS | \$223,208 | | | | ## LIABILITIES AND SHAREHOLDER'S EQUITY | LIABILITIES:
Accrued expenses and other liabilities | | \$ 37,302 | |--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------------------------|-----------| | TOTAL LIABILITIES | | 37,302 | | SUBORDINATED LIABILITIES AND SHAREHOLDER'S EQUITY
Common stock, no par value; 200 shares authorized,
issued and outstanding, at stated value
\$
Paid In Capital
Retained Earnings | 100
86,000
99,806 | | | SHAREHOLDER'S EQUITY | | 185,906 | | TOTAL LIABILITIES AND SHAREHOLDER'S EQUITY | | \$223,208 | The accompanying notes are an integral part of this statement. {5}------------------------------------------------ # RICHARD JAMES & ASSOCIATES INC. ## NOTES TO FINANCIAL STATEMENTS ## FOR THE YEAR ENDED DECEMBER 31, 2025 ### 1. ORGANIZATION AND NATURE OF BUSINESS Richard James & Associates, Inc. (the "Company") was organized in the State of New York on August 14, 2013 and on July 8, 2014 became registered as a broker-dealer with the U.S. Securities and Exchange Commission (the "SEC") and is a member of the Financial Industry Regulatory Authority, Inc. ("FINRA".) The Company is a wholly owned subsidiary of Windmere Enterprises, LLC. In the normal course of its business, the Company enters into financial transactions where the risk of potential loss due to changes in market (market risk) or failure of the other party to the transaction to perform (credit risk) exceeds the amounts recorded for the transaction. The Company's policy is to continuously monitor its exposure to market and counter-party risk through the use of a variety of financial position and credit exposure reporting and control procedures. In addition, the Company has a policy of reviewing the credit standing of each broker-dealer, clearing organization, customer and/or other counterparty with which it conducts business. The Company introduces its customer transactions to its clearing broker with whom it has a correspondent relationship for execution and clearance in accordance with the terms of a clearance agreement. In connection therewith, the Company has agreed to indemnify its clearing broker for losses that the clearing broker may sustain related to the Company's customers. As of December 31, 2025, amounts were owed to the clearing broker by these customers which were in connection with normal, delivery-against-payment, cash-account transactions. After December 31, 2025 all amounts related to such transactions were received from customers. Securities purchased by customers in connection with those transactions are held by the clearing broker as collateral for the amounts owed. ## 2. SIGNIFICANT ACCOUNTING POLICIES The Company maintains its books and records on an accrual basis in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") Security transactions and financing with the clearing broker are classified as operating activities on the statement of cash flows since this is the Company's principal business. ### Cash and cash equivalents The Company considers all highly liquid investments with an original maturity of three months or less to be cash equivalents. ### Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of these financial statements. Actual results could differ from those estimates. ## 2. REVENUE RECOGNITION ### *Commission Revenue* Commission revenue represents sales commission generated by advisors for their clients' purchases and sales of securities on exchanges and over-the-counter, as well as purchases of other investment products. The Company views the selling, distribution and marketing, or any combination thereof, of investment products to such clients as a single performance obligation to the product sponsors. {6}------------------------------------------------ # RICHARD JAMES & ASSOCIATES INC. # NOTES TO FINANCIAL STATEMENTS (continued) ## FOR THE YEAR ENDED DECEMBER 31, 2025 ## 2. REVENUE RECOGNITION (Continued) The Company is the principal for commission revenue, as it is responsible for the clients' purchases and sales and maintains relationships with the product sponsors. The advisors, if any, assist the Company in performing its obligations. Accordingly, total commission revenues are reported on a gross basis. The Company records commission revenue and related clearing expenses on a trade date basis as security transactions occur. ### Other Income Other income is generated by interest income from margin accounts, firm account revenue, and other fees charged to customers and is recognized when earned. ### Leases The Company accounts for its leases in accordance with Financial Accounting Standards Board ("FASB") Accounting Standards Update ("ASU") 2016-02, Leases. As of January 1, 2025, the Company does not maintain any leases in excess of a one-year term. As such, the Company does not have an obligation to record a right to use asset or an offsetting lease obligation. There is no impact to the Company's net capital. ### 3. INCOME TAXES The Company is recognized as a "S" Corporation by the Internal Revenue Service. Uncertain tax positions should be recognized, measured, disclosed and presented in the financial statements. This requires the evaluation of tax positions taken or expected to be taken in the course of preparing the Partnership's tax returns to determine whether the tax positions are "more-likely-than-not" of being sustained "when challenged" or "when examined" by the applicable tax authority. Tax positions not deemed to meet the more-likely-than-not threshold would be recorded as a tax benefit or expense and liability in the current year. The tax years that remain subject to examination are 2022, 2023, 2024 and 2025. As of December 31, 2025 management has determined that there are no material uncertain income tax positions. ### 4. CASH IN BANK The Company maintains cash and cash equivalents with financial institutions. Funds deposited with a single bank are insured up to \$250,000 in the aggregate by the Federal Deposit Insurance Corporation ("FDIC"). Cash and securities deposited with a single brokerage institution are insured up to \$500,000 per account type of which a maximum of \$250,000 in cash is insured by the Securities Investor Protection Corp. ("SIPC"). At times, cash balances may exceed the insured limits. The Company has not experienced any losses in such accounts. ### 5. RELATED PARTIES The Company has an administrative service agreement with the shareholder. Under this agreement, shareholder provides rent and administrative services to the Company. In regard to this relationship, the financial statements include \$348,000 of expenses, \$72,000 of rent and a receivable on the balance sheet in the amount of \$51,554. ## 6. COMMITMENTS AND CONTINGENCIES As of December 31, 2025, the Company is not party to or subject to any legal action. {7}------------------------------------------------ ## RICHARD JAMES & ASSOCIATES INC. ## NOTES TO FINANCIAL STATEMENTS (continued) ## FOR THE YEAR ENDED DECEMBER 31, 2025 #### 7. RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS The FASB has established the Accounting Standards Codification ("Codification" or "ASC") as the authoritative source of generally accepted accounting principles ("GAAP") recognized by the FASB. The principles embodied in the Codification are to be applied by nongovernmental entities in the preparation of financial statements in accordance with GAAP in the United States. New accounting pronouncements are incorporated in the ASC through ASU's. For the year ending December 31, 2025, various ASU's issued by the FASB were either newly issued or had effective implementation dates that would require their provisions to be reflected in the financial statements for the year then ended. The Company has either evaluated or is currently evaluating the implications, if any, of each of these pronouncements and the possible impact they may have on the Company's financial statements. In most cases, management has determined that the pronouncement has either limited or no application to the Company and, in all cases, implementation would not have a material impact on the financial statements taken as a whole. #### 8. RULE 15C3-3 The Company is exempt from the provisions of Rule 15c3-3 under paragraph (k)(2)(ii) in that the Company carries no margin accounts, promptly transmits all customer funds and delivers all securities received, does not otherwise hold funds or securities for or owe money or securities to customers and effectuates all financial transactions on behalf of customers on a fully disclosed basis. #### 9. NET CAPITAL REQUIREMENTS The Company is subject to the Securities and Exchange Commission's Net Capital Rule 15c3-1, 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 (and the rule of the 'applicable' exchange also provides that equity capital may not be withdrawn or cash dividends paid if the resulting net capital ratio would exceed 10 to 1.) At December 31, 2025, the Company had net capital of \$117,877 which exceeded the minimum requirement of \$5,000 by \$112,877. The Company's ratio of aggregate indebtedness to net capital was .32 to 1. #### 10. SEGMENT REPORTING The broker-dealer is an introducing broker-dealer and earns commission revenue from general securities business which deals primarily with equities, mutual funds, and variable annuities on an agency basis. The Company has identified its President as the chief operating decision maker ("CODM"). The CODM reviews trade execution performance and investment performance by reviewing reports generated by the clearing broker dealer and other custodians. Evaluation of trade execution performance is done by reviewing the individual trades on the reports, and evaluation of investment performance is done by evaluating consolidated reports. The company review of revenue is done on a consolidated basis for the purpose of the CODM to forecast and to make operational decisions while maintaining capital adequacy, such as whether to reinvest profits or pay distributions. The Company's operations constitute a single operating segment. The accounting policies used are the same as those described in the summary of significant accounting policies. ### 11. SUBSEQUENT EVENTS Subsequent events have been evaluated through April 14, 2026, the date that these financial statements were available to be issued and no further information is required to be disclosed. Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.