# VIGILANT DISTRIBUTORS, LLC X-17A-5 (2023-02-24) — Broker-dealer annual report - Company: VIGILANT DISTRIBUTORS, LLC - Form: X-17A-5 - Filed: 2023-02-24 - Period: 2022-12-31 - Accession: 0001686268-23-000001 - CIK: 1686268 - File #: 8-69854 - Type: Broker-dealer - Material weakness: No - Auditor: Sanville & Company - Auditor location: Abington, PA - Contact: Patrick Chism - Phone: (484)840-3711 - Email: patrick@vigilantdistributors.com - Website: vigilantdistributors.com - Signed by: Patrick Chism (CEO) Original filing: https://www.sec.gov/Archives/edgar/data/1686268/000168626823000001/Public.pdf --- {0}------------------------------------------------ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 | | OMB APPROVAL | | | |---------|---------------------------|--|--| | | OMB Number: 3235-0123 | | | | | Expires: Oct. 31, 2023 | | | | | Estimated average burden | | | | | hours per response:
12 | | | | | | | | | | SEC FILE NUMBER | | | | 8-69854 | | | | # ANNUAL REPORTS FORM X-17A-5 PART III | Information Required Pursuant to Rules 17a-5, 17a-12, and 18a-7 under the Securities Exchange Act of 1934 | FACING PAGE | | | | | |-------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------------------------------------------------------|-------------------------------------------|------------|----------------------|--------------------------------------------| | FILING FOR THE PERIOD BEGINNING | 01/01/22 | | AND ENDING | 12/31/22
MM/DD/YY | | | | MM/DD/YY | | | | | | | A. REGISTRANT IDENTIFICATION | | | | | | NAME OF FIRM: Vigilant Distributors, LLC | | | | | | | TYPE OF REGISTRANT (check all applicable boxes):
Broker-dealer
_ Security-based swap dealer
□ Check here if respondent is also an OTC derivatives dealer | | ‍ Major security-based swap participant | | | | | ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use a P.O. box no.) | | | | | | | Gateway Corporate Center, Suite 216, 223 Wilmington West Chester Pike | | | | | | | | (No. and Street) | | | | | | Chadds Ford | | Pennsylvania | | 19317 | | | (City) | | (State) | | | (Zip Code) | | PERSON TO CONTACT WITH REGARD TO THIS FILING | | | | | | | Patrick Chism | (484) 840-3711 | | | | patrick@vigilantdistributors.com | | (Name) | (Area Code - Telephone Number) | | | (Email Address) | | | | B. ACCOUNTANT IDENTIFICATION | | | | | | INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing*
Sanville & Company | | | | | | | | (Name - if individual, state last, first, and middle name) | | | | | | 1514 Old York Road | Abington | | PA | | 19001 | | (Address) | (City) | | (State) | | (Zip Code) | | September 18, 2003 | | | 169 | | | | (Date of Registration with PCAOB)(if applicable) | | | | | (PCAOB Registration Number, 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. {1}------------------------------------------------ ### OATH OR AFFIRMATION | Patrick Chism | , swear (or affirm) that, to the best of my knowledge and belief, the | | |-----------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------|-------| | financial report pertaining to the firm of Vigilant Distributors, LLC | | as of | | December 31 | , 2 022 __ 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 | | | as that of a customer. | | | | Commonwealth of Pennsylvania - Notary Seal | |--------------------------------------------| | ROBERT LESSMANN - Notarv Public | | Delaware County | | My Commission Expires April 9, 2025 | | Commission Number 1394572 | Notary Public ## 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. - □ (h) Computation of net capital under 17 CFR 240.15c3-1 or 17 CFR 240.18a-1, as applicable. - [ (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. - 口 (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. - □ (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. - 口 (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-1, 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. - | | | Oath or affirmation in accordance with 17 CFR 240.17a-5, 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. - | (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. - | 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 240.18c-7(d)(2), as applicable. Signature: Title: CEO {2}------------------------------------------------ # Vigilant Distributors, LLC Financial Statement December 31, 2022 Filed as PUBLIC information pursuant to Rule 17a-5(d) under the Securities Exchange Act of 1934. {3}------------------------------------------------ # Vigilant Distributors, LLC Table of Contents December 31, 2022 | ANNUAL AUDITED FOCUS REPORT FACING PAGE | | |-----------------------------------------|--| |-----------------------------------------|--| # REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM ON THE FINANCIAL STATEMENT ................................................................................................................................................... # FINANCIAL STATEMENT | Statement of Financial Condition | | |----------------------------------|--| | Notes to Financial Statement | | {4}------------------------------------------------ ROBERT F. SANVILLE, CPA MICHAEL T. BARANOWSKY, CPA IOHN P. TOWNSEND. CPA NATHANIEL S. HARTGRAVES, CPA Sanville & Company CERTIFIED PUBLIC ACCOUNTANTS 1514 OLD YORK ROAD ABINGTON, PA 19001 (215) 884-8460 • (215) 884-8686 FAX MEMBERS OF AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNT ANTS PENNSYLVANIA INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS 100 WALL STREET, 8th FLOOR NEW YORK. NY 10005 (212) 709-9512 # REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Member of Vigilant Distributors, LLC ## Opinion on the Financial Statement We have audited the accompanying statement of financial condition of Vigilant Distributors, LLC (the "Company") as of December 31, 2022, and the related notes (collectively referred to as the "financial statement"). In our opinion, the statement of financial condition presents fairly, in all material position of the Company as of December 31, 2022 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. The Company is not required to have, nor were we engaged to perform. an audit of its internal control over financial reporting. As part of our audit we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control over financial reporting. Accordingly, we express no such opinion. 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 the Company's auditor since 2017 Abington, Pennsylvania February 8, 2023 {5}------------------------------------------------ # Vigilant Distributors, LLC Statement of Financial Condition December 31, 2022 # Assets | Cash and cash equivalents | S | 1,062,549 | |---------------------------------------|----|-----------| | Prepaid expenses and other assets | | 100,634 | | Accounts receivable | | 23,194 | | | | | | Total assets | ಿನ | 1,186,377 | | Liabilities and Member's Equity | | | | Liabilities | | | | Deferred income | ಿತ | 41,158 | | Due to affiliate | | 58,787 | | Accounts payable and accrued expenses | | 59,134 | | Commissions and fees payable | | 142,503 | | Total liabilities | S | 301,582 | | Member's Equity | | 884,795 | | Total liabilities and member's equity | ಿರ | 1,186,377 | The accompanying notes are an integral part of this financial statement. {6}------------------------------------------------ #### 1. Organization Vigilant Distributors, LLC (the "Company"), formerly known as Herald Investment Marketing, LLC, is a Pennsylvania limited liability company that is a registered broker with the Securities and Exchange Commission ("SEC") and the Financial Industry Regulatory ("FINRA"). The Company was approved by FINRA to operate as a registered broker dealer on May 15, 2017. The Company is wholly owned by Chadds Ford Investment, LLC. It has agreed to operate as a limited purpose broker dealer which will act as a principal underwriter for investment companies and exchange traded funds. The Company is directly affected by general economic and market conditions, including fluctuations in volume and price level of securities and changes in interest rates, which have an impact on the Company's liquidity. #### 2. Summary of Significant Accounting Policies # The following are the significant accounting policies followed by the Company: Revenue - Under ASC 606, mutual fund commissions, service fees and distribution fees are recognized when earned and the performance obligation has been satisfied. Income taxes - The Company is a single member limited liability company and is considered to be a disregarded entity as defined in the Internal Revenue Code. Under this provision, the taxable income or loss is taxed directly to the member. Accordingly, the Company records no provision for federal income taxes. The Company recognizes and discloses uncertain tax positions in accordance with accounting principles generally accepted in the United States of America (GAAP). As of December 31, 2022, the Company did not have liability for unrecognized tax benefits. The Company is no longer subject to examination by federal and state taxing authorities prior to 2017. Use of estimates - The preparation of financial statements in conformity with U. S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results may differ from those estimates and assumptions. Cash - At times during the year, the Company's cash accounts which are held at one bank, exceeded the related amount of federal depository insurance. The Company has not experienced any loss in such accounts and believes that it is not exposed to any significant credit risk. Subsequent events - Management has evaluated the impact of all subsequent events through February 8, 2023 the date the financial statements were available to be issued and has determined that there were no subsequent events requiring disclosure in these financial statements. #### Concentration of Credit Risk 3. The Company is engaged in brokerage and distribution activities in which counterparties are primarily mutual fund companies. In the event counterparties do not fulfill their obligations, the Company may be exposed to risk. The risk of default depends on the creditworthiness of the counterparty or issuer of the financial product. Under ASC 326, the Company has evaluated the creditworthiness of client counterparties and issuers of financial products and determined that credit risk is minimal, hence, no allowance for credit losses was established for the year ended December 31, 2022. {7}------------------------------------------------ #### # !" # \$% &'()\*+,-./01-+(+2(3\*45'(6789:-.;011<2=(>55\*5'(?@)A.04\*3+8(5)-,05-B9EFCG &'019(\*4+0.0+<+.(5>-,05-B-.;3(H<03(15'-55'(3-50\*\*4-II3(I-5( 0.;(25(;.(115\*.(5>-,05-BJ2\*5'-1;(40.(;J1'-BB.\*5(K>((;CD5\*CG8(5>-,05-B-.;5'(3(B-5(;.(5>-,05-B 3-50\*+-/4B<>5<-5(\*.-;-0B/2-101G:5L(>(+2(3ECJMNMM5'()\*+,-./'-;.(5>-,05-B\*4OP-NJQ-P R'0>'R-1OPEDJQ-P0.(K>(11\*40513(H<03(;.(5>-,05-B\*4OMDJNNNG&'()\*+,-./S1.(5>-,05-B3-50\*R-1 NGTN5\*CG Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.