# UNEST SECURITIES, LLC X-17A-5 (2022-03-31) — Broker-dealer annual report - Company: UNEST SECURITIES, LLC - Form: X-17A-5 - Filed: 2022-03-31 - Period: 2021-12-31 - Accession: 0001822131-22-000002 - CIK: 1822131 - File #: 8-70576 - Type: Broker-dealer - Material weakness: No - Auditor: Davila Advisory LLC - Auditor location: St Louis, MO - Contact: Maria Humphrey - Phone: 503-415-1629 - Email: dan@unestsecurities.com - Website: unestsecurities.com - Signed by: Maria Humphrey (CCO) Original filing: https://www.sec.gov/Archives/edgar/data/1822131/000182213122000002/unestaud.pdf --- {0}------------------------------------------------ #### UNITED STATES SECURmEs AND EXCHANGE COMMISSION Washington, D.C. 20549 | OMll Af!J>.ROtJA• | | |-------------------------------|--| | 0MB tfumbt!r: )23~-0123 | | | l;~t>:;; Otl, 31, 2023 | | | Es1Jmaltd awme b:wden | | | hours per Je'Sp(ll)St':
12 | | | | | ## ANNUAL REPORTS ## FORM X-17A-5 ## PART IU | \$~C Fil[ NIIM!lfR. | | |---------------------|--| | 8-70576 | | ## FACING **PAGE** information R~~ul~d Pursuant to Ruin l7a-5, l7a•ll, and iaa-7 undCI" the Se~,urllk\$ fxehange AC\ of 1934 | FtLING FOR THE PERIOD BEGINNING | ________
1i1/2021 | AND ENDING | | _______
12/31il021
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MM/00/YY | | |-----------------------------------------------------------------------------------------------------------------------------------------|------------------------------|-----------------------------------------|---------|---------------------------------------------|--| | | MM/0D/YY | | | | | | | A. REGISTRANT IDENTIFICATION | | | | | | NAME OF FIRM: _u_N_e_st_s_e_cu_n_·u_es_._Lc | ___________________ | | | _ | | | TYPE OF REGISTRANT {check all applicable boxes}:
ii Broker-dealer
0 Chee ~ re ;f resl>Ql'idimt i\$ also an OTC derlva1ivcs dealer | O security•based swap dealer | D Major securrtv•based swap participant | | | | | ADDRESS or Pill 'Cl?AL PLACE OF BUSINESS: (Do not use a P.O. box no.j | | | | | | | 51·61 Lankershim Blvd #250 | | | | | | | | (No. an,d Stre~) | | | | | | North Hollywood | CA | | | 91601 | | | (tltyJ | (S1ilre) | | | {ZlpCOIW] | | | PERSON TO CONTACT WITH REGARD TO THIS FILING | | | | | | | Daniel Adams | 929Davila Advisory LLC | | | | | | | | | | | | | | 1 0135 Manchester Rd, Smte 206 | Stlouis | | MO | 63122 | | | (A~) | f-OR OFFICIAt US£ ONLY | | | f PCAOB R~lstratlon Numbe-r. lf aociiul>lel | | • dalms for exemption from tlu,? req1,1lrernent that the annt!~I reports be wvered by the reports of an lnd1!p,endent puhlic accountant must be supported by ii itatement of facts and circumstances relied on as the ba:iis of the exemption. See 17 CfR 240.17a-5!e}(1l{U,. if applicable. *Pe:NOM* who •r-e to respond to the w;llection of lrdonnatlon contalnt,tl In thb fon11 ere ,,..t requln,d to rt:JJ>Qnd unl'cu ~ form dlspl~ .a currentfy 113lld 0MB control nutn~r. {1}------------------------------------------------ #### OATH OR AFFIRMATION | Daniel A.dams
I, | swear (or affirm) that, to the best of my knowledge and belief, the | |-----------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------| | financial report pertaining to the firm of UNesl Securities LLC | as of | | December 31 | , 2.Qg!_, is true and correct. I further swear (or affirm) that n@ither the company nor any | | | partner, officer, director, or equivalent person, as the case may be, has any proprietary interest in any account classified solely | | a. that of a | Mtom,,.~A
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s;gn•i)JA9~ | | | Title:
Managing Director | | Notary Public | SEE ATTACHED FOF NOTARY | | | | ## Notary Public **SEE ATTACHED** FOF NOTARY #### **This filing0 contains (check all applicable boxes):** - tll (a) Statement of financial condition. - □ (bl Notes to consolidated statement of financial condition, - @ (c) Statement .of income {loss} or, if there is other comprehensive income In the perlod{sl presented, a statement of comprehensive mcome (as defined in~ 210.1-02 of Regulation S-X). - IZl (d) Statement of cash flows. - @ (e) Statement of changes in stockholders' or partners' or sole proprietor's equity. - D (f} Statement of changes in liabilities subordinated to claim\$ of creditors. - {g) Notes to consolidated financial statements. - vl (h) Computation of r,f't c.apil;i,I u ndr>r 17 CFR 240.1,;c.3 .1 or 17 CHl 240.;8;;-1, a~ ;ipp!iG,blP\_ - D iii Computation of tangible net worth under 17 CFR 240.18a·Z. - 0 (j) Compulation for determination of customer reserve requirements pursu.int to Exhibit A to 17 CFR 240.1Sc3-3. - 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, ;is applicable\_ - □ {I) Computation for Determination of PAS Requirements under E)(hlblt A to§ 240.15c3·3. - Cll (,ni lnfoi'mation relating lo possession or control reqv,rements for customers vnder 17 CFR 240.1\$,;3-3. - D (n) Information relating to possession or control requirements for security-bJsed swap customer, under 17 CFR 240.1Sc3-3(p)(2) or 17 CFR 240.18a--4, as applicable. - i2J (o} Reconcihations, including appropriate explanations, of the FOCUS R port with computation of net capital or tangible net worth under 17 CFR 240\_1Sc:3-l, 17 CfR 240.18a-1, or 17 CFR 240.lSa -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. - 0 {p) Summary ol financial data tor subsidiaries not consolldaled in the statement of financial condition. - 0 (q) Oath or affirmation in accordance with 17 CFR 240.17a•S, 17 CFR 240.17a-12, or 17 CFR 240.lSa-7, as applicable. - 0 fr) Compliance report in accordance with 17 CfR 240.17a-5 or 17 CFR 240.18a-7, a:. applicable. - 0 (s) Exemption report in accordance with 17 CFR 240.l7a-5 or 17 CFR 240.lSa-7, as,applic.able. - 0 (t} Independent public accountant's report ba~ed on an examlnation of the statement of flnandal condition. - 0 {ul Independent pvblic accountant's report based on an e~amination or the financial report or financial statements under 17 CFR 240.17a-S, 17 CFR 240.lSa-7, or 17 CFR 240-l?a-12, a~ applicable. - D (v) Independent public accountant's report based *on* an examlnatlon of certain state.ments in the compliance rei:,ort under 17 CfR 240.17a-5 or 17 CFR 240.lSa-7, as appHcable. - ill (w) Independent public accountant's report based on a review of the exemption report under 17 CFR 240.17a-S or 17 CFR 240.183-7, as applicable. - D {xl Supplemental reports on applying ag,eed-upon procedures, in accorda.nc;e with 17 CF~ 240.15c3·1e or 17 CFR :?4O.17a-l2, 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•U(k), D (z) Other: \_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ \_\_ \_ - ' ! ---To requert conftdenrlol *treatment* of *certain* portions of this filing, see 17 CFR 240.17o-5(e){3} or 17 CFR 240.!8o-7(d)(Z), as applicoble. {2}------------------------------------------------ # **JURAT** | the truthfulness, accuracy, or validity of that document. | A notary public or other officer completing this certificate verifies only the identity of
the individual who signed the document to which this certificate is attached, and not | |---------------------------------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| | State of California | | | County of
ORANGE | | | Subscribed and sworn to (or affirmed) before me on this _B_ day of ___:i._M=vr-c,h | ~
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20 22 | | | before me | proved to me on the basis of satisfactory evidence to be the person(s) who appeared | | (Seal) | ·a·
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•· - | | OPTIONAL INFORMATION | INSTRUCTIONS | | DESCRIPTlON OF THE A TT ACHED DOCUMENT
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(Ti~e or descnptlon of atlached document) | The wording of all Jurats completed in Califomia after Januat}I 1, 2015 must be in the
form as set forlh within this Jura/. There are no exceptions. Jf a Jurat to be comple/ed
does not follow this form, the notary must correct the verbiage by using a jurat stamp
coniaining ihe correct wording or attacnmg a separate jurat form such as this one with
does contain the proper wording. In addition, the notaty must require an oath or
affirmation ftom the document signer regarding the truthfulness of the contents of the
document. The document must be signed AFTER the oath or affirmation. If the document
was previously signed, it must be re-signed in front of the notary public during /he Jura/
process,
• State and county information must be the state and county where the | | (Title or description of attached document continued) | document signer(s) personally appeared before the notary public.
• Date of notarization must be the date the signer(s) personally
appeared which must also be the same date the jurat process fs | | __
f "t-tcu,
Document Date 01,-
Number of Pages | completed.
• Print the name(s) of the document signer(s) who personally appear at
the time of notariz.ation. | | | • Signature of the notary public must match the signature on file with the | pages and date. • Securely attach this document to the signed document with a staple. ❖ Indicate title or type of attached document, number of different document. {3}------------------------------------------------ #### UNEST SECURITIES LLC FINANCIAL STATEMENTS AND REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM (CONFIDENTIAL PURSUANT TO RULE 17a-5(e)(3)) DECEMBER 31, 2021 {4}------------------------------------------------ ## UNEST SECURITIES LLC ## CONTENTS | Report of Independent Registered Public Accounting Firm | 1 | | | |-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-----|--|--| | Financial Statements | | | | | Statement of Financial Condition at December 31, 2021 | 2 | | | | Statement of Operations for the Period May 18, 2021 through December 31
, 2021 | 3 | | | | Statement of Changes in Member's Equity for the Period May 18, 2021 through
December 31
, 2021 | 4 | | | | Statement of Cash Flows for the Period May 18, 2021 through December 31, 2021 | 5 | | | | Notes to Financial Statements | 6-8 | | | | Supplementary Information | | | | | Supplementary Schedules | | | | | Computation of Net Capital Under Rule 15c3-1 of the U.S. Securities and
Exchange Commission at December 31, 2021 | 9 | | | | Computation for Determination of Reserve Requirements and Information
Relating to Possession and Control Requirements Under Rule 15c3-3 of the
Securities and Exchange Commission | 9 | | | | Report of Independent Registered Public Accounting Firm on Exemption Report | 10 | | | | Exemption Report | | | | | | | | | {5}------------------------------------------------ ![](_page_5_Picture_0.jpeg) #### REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM Member of UNest Securities, LLC #### **Opinion on the Financial Statement** We have audited the accompanying statement of financial condition of UNest Securities, LLC (the "Company") as of December 31, 2021, and the related notes (collectively referred to as the "financial statements"). In our opinion, the statement of financial condition presents fairly, in all material respects, the financial position of UNest Securities, LLC as of December 31, 2021 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 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. We have served as UNest Securities, LLC's auditor since 2021. Saint Louis, Missouri March 30, 2022 {6}------------------------------------------------ ![](_page_6_Picture_0.jpeg) ## REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM Member of UNest Securities, LLC ## **Opinion on the Financial Statements** We have audited the accompanying statement of financial condition of UNest Securities, LLC (the "Company") as of December 31 , 2021, and the related statements of operations, changes in member's equity and cash flows for the period from May 18, 2021 to December 31, 2021, 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 UNest Securities, LLC as of December 31, 2021, and the results of its operations and its cash flows for the period from May 18, 2021 to December 31, 2021 in conformity with accounting principles generally accepted in the United States of America. ## **Basis for Opinion** These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on the Company'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 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 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 wel l 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 information in the "Supplementary Schedules" (the "supplementary information") has been subjected to audit procedures performed in conjunction with the audit of the Company's financial statements. The supplemental information is the responsibility of the Company'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 in the "Supplementary Schedules" is fairly stated, in all material respects, in relation to the financial statements as a whole. We have served as UNest Securities, LLC's auditor since 2021. Saint Louis, Missouri March 30, 2022 **T (314) 965-9775 F** : **(314) 476-9660 W** : **www.davilaadvisory.com A** : **1013S Manchester Rd, Suite 206, St. Louis, MO 63122** {7}------------------------------------------------ ## UNEST SECURITIES LLC STATEMENT OF FINANCIAL CONDITION DECEMBER 31, 2021 ## ASSETS | \$
246,892
36,553 | |-------------------------| | \$
283,445 | | | ## LIABILITIES AND MEMBER'S EQUITY | LIABILITIES
Accounts payable and accrued expenses
Due to related party | \$
2,250
69,620 | |------------------------------------------------------------------------------|-----------------------| | TOTAL LIABILITIES | 71 ,870 | | MEMBER'S EQUITY | 211,575 | | TOTAL LIABILITIES AND MEMBER'S EQUITY | \$
283,445 | {8}------------------------------------------------ ## UNEST SECURITIES LLC STATEMENT OF OPERATIONS FOR THE PERIOD MAY 18, 2021 THROUGH DECEMBER 31, 2021 | EXPENSES | | |-----------------------|-----------| | | | | Payroll expenses | 63,262 | | Computer and internet | 15,832 | | Professional fees | 18,179 | | Insurance | 2,526 | | Office | 2,787 | | Regulatory | 4,818 | | Facilities | 1,862 | | TOT AL EXPENSES | 109,266 | | NET LOSS
\$ | {106,875) | {9}------------------------------------------------ ## UNEST SECURITIES LLC STATEMENT OF CHANGES IN MEMBER'S EQUITY FOR THE PERIOD MAY 18, 2021 THROUGH DECEMBER 31 , 2021 | MEMBER'S EQUITY, DECEMBER 31, 2021 | \$
211,575 | |------------------------------------|---------------| | Net loss | (106,875) | | Member's Contributions | | | MEMBER'S EQUITY, MAY 18, 2021 | \$
318,450 | {10}------------------------------------------------ #### UNEST SECURITIES LLC STATEMENT OF CASH FLOWS FOR THE PERIOD MAY 18, 2021 THROUGH DECEMBER 31, 2021 | CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss
Adjustments to reconcile net loss to net | \$ | (106,875) | |-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------|-----------------------------| | cash provided by operating activities:
Changes in operating assets and liabilities:
Prepaid expenses
Accounts payable and accrued expenses
Due to related parties | | (23,981)
2,250
69,620 | | NET CASH USED IN OPERATING ACTIVITIES | | {58,986} | | CASH FLOWS FROM FINANCING ACTIVITIES:
Capital contributions
NET CASH USED IN FINANCING ACTIVITES | | | | NET CHANGE IN CASH | | (58,986) | | CASH, BEGINNING OF PERIOD | | 305,878 | | CASH, END OF PERIOD | \$ | 246,892 | | Supplemental cash flows disclosures:
Income tax payments
Interest payments | \$
\$ | | {11}------------------------------------------------ ## UNEST SECURITIES LLC NOTES TO FINANCIAL STATEMENTS DECEMBER 31 , 2021 ## Note 1 - Organization UNest Securities LLC (the "Company") is a broker-dealer registered with the United States Securities and Exchange Commission ("SEC") and is a member of the Financial Industry Regulatory Authority ("FINRA"). The Company was organized under the laws of the State of Delaware and was approved by FINRA on May 18, 2021 . The Company is a single member LLC, wholly owned by UNest Holdings Inc. (the "Sole Member"). The Company is an introducing broker dealer for UGMNUTMA accounts and conducts business on a fully disclosed basis with Apex Clearing. The Company provides fully disclosed broker dealer services for its affiliated registered investment advisor, UNest Advisers. ## Note 2 - Summary of Significant Accounting Policies ## Basis of Presentation The accompanying financial statements are presented in conformity with accounting principles generally accepted in the United States of America ("U.S. GAAP"). ## Revenue Recognition The Company records revenue under the provIsIons of ASC 606, Revenue from Contracts with Customers. Under this standard, recognition of revenue occurs when a customer obtains control of promised services or goods in an amount that reflects the consideration to which the entity expects to receive in exchange for those goods or services. In addition, the standard requires disclosure of the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contacts. Revenue from contracts with customers includes fees from a related party (see note 4) for set up and maintenance of accounts. The recognition and measurement of these fees is based on the assessment of the individual contract terms. Significant judgement is required to determine whether performance obligations are satisfied at a point in time or over time; how to allocate transaction prices where multiple performance obligations are identified; when to recognize revenue based on the appropriate measure of the Company's progress under the contract; and whether constraints on variable consideration should be applied due to uncertain future events. The Company recognizes revenue on these products upon the completion of the performance obligations, at the transaction price stipulated in each contract. {12}------------------------------------------------ ## UNEST SECURITIES LLC NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2021 ## Note 2 - Summary of Significant Accounting Policies (continued) ## Income Taxes The Company is a limited liability company and is treated as a partnership for income tax purposes. As a result, no federal or State income taxes are provided as they are the responsibility of the Sole Member. ## 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 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 could differ from those estimates. ## Note 3 - Net Capital Requirements The Company is subject to the SEC Uniform Net Capital Rule (Rule 15c3-1) which requires the maintenance of a minimum net capital, as defined, of the greater of \$5,000 or one-eighth of aggregate indebtedness, as defined. At December 31, 2021, the Company had net capital of \$165,022, which exceeded its requirement of \$8,984 by \$156,038. Additionally, the Company must maintain a ratio of aggregate indebtedness to net capital of 8:1 or less. At December 31, 2021 , this ratio was .44 to 1. ## Note 4 - Related Party Transactions The Company has an Expense Sharing Agreement ("Agreement") with its Sole Member, UNest Holdings, Inc. The Agreement covers payroll, equipment, and administrative expenses. Direct expenses of the Company are outside the scope of the Agreement and are paid directly by the Company. During the period ended December 31, 2021 , the Company recorded \$72,010 of expenses under the Agreement. As a result of the Agreement, the Company owed \$69,620 to this related party at December 31 , 2021. During the period ended December 31, 2021, the Company earned fees of \$2,391 from its Sole Member. The Sole Member did not owe any fees to Company at December 31 , 2021. {13}------------------------------------------------ ## UNEST SECURITIES LLC NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2021 ## Note 5 - Concentrations The Company maintains cash balances in one financial institution, which are insured by the Federal Deposit Insurance Corporation (FDIC) for up to \$250,000 per institution. From time to time, the Company's balances may exceed these limits. ## Note 6 - Commitments and Contingencies The Company had no commitments, no contingent liabilities and had not been named as a defendant in any lawsuit during the period ended December 31, 2021. ## Note 7 - Subsequent Events Events have been evaluated through the date the financial statements were available to be issued. During this period, there were no material subsequent events which would require disclosure. {14}------------------------------------------------ ## UNEST SECURITIES LLC SUPPLEMENTARY SCHEDULES DECEMBER 31, 2021 ## COMPUTATION OF NET CAPITAL UNDER RULE 15c3-1 OF THE SECURITIES AND EXCHANGE COMMISSION | NET CAPITAL
Total Member's Equity | \$
211,575 | |--------------------------------------------------------------------------------------------------|-----------------------------| | DEDUCTIONS AND/OR CHANGES
Non-allowable assets
Excess fidelity bond charge
NET CAPITAL | 36,553
10,000
165,022 | | Less: Minimum net capital requirements at 12.5% of
aggregate indebtedness (\$5,000 if higher) | 8,984 | | EXCESS NET CAPITAL | \$
156,038 | | AGGREGATE INDEBTEDNESS
Accounts payable and accrued expenses | \$
71 ,870 | | RATIO OF AGGREGATE INDEBTEDNESS TO NET CAPITAL | 4.36 to 1 | As of December 31, 2021, there are no material differences between the audited computation of net capital and the computation of net capital reported in the Company's unaudited amended Form X-17A-5,Part IIA filing as of December 31, 2021. ## COMPUTATION FOR DETERMINATION OF RESERVE REQUIREMENTS AND INFORMATION RELATING TO POSSESSION AND CONTROL REQUIREMENTS INDER RULE 15c3-3 OF THE SECURITIES AND EXCHANGE COMMISSION The Company is exempt from the provisions of SEA Rule 15c3-3 since the Company's activities are limited to those set forth in the conditions for exemption pursuant to subsection k(2)(ii) of the rule. {15}------------------------------------------------ ![](_page_15_Picture_0.jpeg) ## REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM Member of UNest Securities, LLC We have reviewed management's statements, included in the accompanying exemption report, in which (1) UNest Securities, LLC identified the following provisions of 17 C.F.R. section 15c3-3(k) under which UNest Securities, LLC claims an exemption from 17 C.F.R. section 240.15c3-3(k)(2)(ii) (the "exemption provisions") and (2) UN est Securities, LLC stated that UNest Securities, LLC met the identified exemption provisions throughout the most recent fiscal period from May 18, 2021 to December 31, 2021 without exception. UNest Securities, 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 UNest Securities, 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)(ii) of Rule 15c3-3 under the Securities Exchange Act of 1934. Saint Louis, Missouri March 30, 2022 **T (314) 965-9775** I= : **(314) 476-9660 W : www.davilaadvisory.com A : 10135 Manchester Rd, Suite 206, St. Louis, MO 63122** {16}------------------------------------------------ ## **Exemption Report December 31, 2021** UNest Securities, LLC, ("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)(l) and (4). To the best of its knowledge and belief, the Company states the following: - 1) The Company claims an exemption from 17 C.F.R. §240.l 5c3-3 under Section k(2)(ii). - 2) The Company met the identified exemption provisions in 17 C.F .R. §240.l 5c3-3 (k)(2)(i i) for the most recent fiscal year without exception. I, Daniel Adams, swear ( or affirm) that, to the best of my knowledge and belief, this Exemption Report is true and correct. *DJlf* ~ 3.30.2022 Daniel Adams, Managing Director Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.