Cartana Consulting Solutions, LLC specializes in providing exceptional service to broker-dealers looking to outsource their Financial and Operations Principal (FINOP), CFO and/or general accounting functions. Our areas of expertise range from day-to-day accounting and commission department functions to complex financial reporting design and budgeting. Outsource your FINOP role to a professional who has years of experience managing the net capital needs and compliance of a full service introducing broker-dealer. A good outsourced FINOP will file your monthly or quarterly reports on timely basis. A great outsourced FINOP will feel like a part of the team by providing guidance, education and value to your organization!

Whether your need is short or long term, we have the right solution for you! Depending on your specific needs, we can also assist in the selection, interview and training process of the perfect professional to perform in-house functions.

Cartana’s Beliefs

Competence

”Love what you do. Get good at it. Competence is a rare commodity in this day and age.”

-Jon Stewart

Confidentiality

”Trust is like the air we breathe. When it’s present, nobody really notices. But when it’s absent, everybody notices.”

-Warren Buffett

Integrity

”The truth of the matter is that you always know the right thing to do. The hard part is doing it.”

-H. Norman Schwarzkopf

Transparency

”A lack of transparency results in distrust and a deep sense of insecurity.”

-Dalai Lama

Cartana’s Services

Rule 1022 requires each FINRA member firm to designate a qualified Financial and Operations Principal (FINOP). Depending on the member’s net capital requirements, the FINOP would need to be licensed as either a “Series 27: Limited Principal – Financial and Operations” or “Series 28: Limited Principal – Introducing Broker/Dealer Financial and Operations”. Cartana’s principal, Ana R. Carter, holds both of these licenses in addition to Series 7, 63 and 99. Firms can outsource the role to a professional with the appropriate licenses allowing for significant savings compared to hiring a full time in house principal. Regardless of the their employment status with a member firm, all FINOPs are fully responsible for each of the duties outlined in Rule 1022:

  • Final approval and responsibility for the accuracy of financial reports submitted to any duly established industry regulatory body;
  • Final preparation of such reports;
  • Supervision of individuals who assist in the preparation of such reports;
  • Supervision of and responsibility for individuals who are involved in the actual maintenance of the member’s books and records from which such reports are derived;
  • Supervision and/or performance of the member’s responsibilities under all financial responsibility rules promulgated pursuant to the provisions of the Securities Act of 1934 (Exchange Act);
  • Overall supervision of and responsibility for the individuals who are involved in the administration and maintenance of the member’s back office operations; and
  • Any other matter involving the financial and operational management of the member.
The Chief Financial Officer (CFO) is primarily responsible for managing the financial risks of a corporation. They are also responsible for financial planning and record-keeping, as well as financial reporting to higher management. Rule 1022 requires that “at least one” of the member firm’s licensed FINOP’s should be designated as the firm’s CFO. Cartana’s principal, Ana R. Carter, is appropriately registered and has held a CFO position overseeing the operations of a $42 million independent broker dealer for over 5 years.

Outsourced CFO services sample:

  • Financial statement preparation, review and analysis;
  • Preparation of annual audit financials;
  • Board of Directors reports preparation and presentation;
  • Supervision/management of Finance department staff;
  • Assistance with recruitment, interview and hire of staff;
  • Forecasts and budget preparation;
  • Design and implementation of financial reporting structure;
  • Scoping and implementation of new systems;
  • Due diligence and 1017 assistance;
  • Development and documentation of internal controls and policies;
  • Vendor relationships management, contract negotiation;
  • Payroll and 401k provider changes;
  • System conversions;
  • and much more!
In addition to outsourced FINOP and CFO services, Cartana Consulting also provides general accounting and bookkeeping services. We are not CPA’s; however, we work closely with our clients’ CPA’s and Tax Accountants to ensure that their best interests are met. We manage day-to-day accounting and bookkeeping so you don’t have to.

We will:

  • Reconcile bank accounts;
  • Record journal entries to recognize prepaid expenses, depreciation and/or unearned revenues;
  • Ensure that all revenues and corresponding commission expense have been recorded to the proper accounting period;
  • Prepare and post payroll entries;
  • Review any intra-company accounts and any other special accounts;
  • Verify that all leases are properly recorded and recognized;
  • and much more!

To keep you informed, we will post relevant FINRA Regulatory Notices below. Please contact us if you have any questions regarding the information contained in any of the documents. You can also view/download a summary sheet of our main services here: Cartana Consulting Services.

Why Choose Us

  • We have the proven track record of successfully performing our services – 100% of satisfied clients!
  • We have a clean regulatory record – you will not find any disclosures on our principal’s broker check!
  • With Cartana, you will receive exceptional service and attention – unlike some outsourced FINOP’s, we are not registered with dozens of firms. We value quality over quantity!
  • At Cartana, we don’t simply file reports. We really get to know our clients and educate them on best practices.
  • We have a wide network consisting of compliance consultants, securities attorneys, industry executives and current and past regulators. The value that we provide our clients far exceeds that of the typical outsourced FINOP.