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LPL Financial for independent financial advisors.

A Charles Schwab specifically designed to support other financial advisors.

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• Investment Execution Services: Provides clients with access to execution services for trading stocks, bonds, exchange-traded funds (ETFs), and options.
• Financial Advisor Support Services: Offers financial advisors research, compliance, supervision, and accounting services.
• Mutual Funds and Insurance Products: Provides access to a variety of mutual funds and insurance products for clients.
• Alternative Investments: Offers alternative investment options including non-traded real estate investment trusts (REITs), unit trusts, and fixed and variable annuities.

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Binah Capital Group, Inc. (BCG) primarily serves other companies and professionals within the wealth management industry.

Its major customers are financial advisors and financial advisory firms. Binah Capital provides these entities with various services, including access to execution services for stocks, bonds, exchange-traded funds, and options, as well as research, compliance, supervision, and accounting services. Additionally, it offers access to a range of products such as mutual funds, insurance products, and alternative investments like non-traded real estate investment trusts, unit trusts, and fixed and variable annuities, all intended for use by financial advisors to serve their own clients.

The provided company description does not list the names of specific financial advisory companies that are customers of Binah Capital, nor does it indicate any of its customers are publicly traded entities with associated symbols.

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The Bank of New York Mellon Corporation (NYSE: BK)

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Craig Gould, Chief Executive Officer and Chairman

Mr. Gould has over 25 years of experience in senior management roles within the financial services industry, including Chief Executive Officer, National Sales Manager, and Head of Investment Banking. He founded Cabot Lodge Securities as its President in 2012. Prior to that, he served as President of Fintegra, a Midwest broker/dealer, and National Sales Manager for Wunderlich Securities. Before Wunderlich Securities, he was the Vice Chairman of Olympic Cascade Financial Corporation, an AMEX-listed company. Under Mr. Gould's leadership, Binah Capital Group achieved a successful public listing, significant growth, and developed a robust network of broker-dealers, insurance brokerages, and advisory firms. He believes that operating as a public company offers a significant advantage over private equity-backed firms, indicating a strategic preference away from private equity influence.

David Shane, Chief Financial Officer and Director

Mr. Shane serves as the Company's Chief Financial Officer and has over 30 years of experience in the financial services industry. He previously worked as an independent consultant, offering financial advisory services such as accounting, financial reporting, regulatory reporting, and transaction structuring to companies, primarily in the Financial Services Industry. His experience includes working with securities broker-dealers, registered investment advisors, asset management companies, and alternative asset companies, including private equity, venture capital, and hedge funds. Mr. Shane has extensive public accounting experience as a Financial Services Audit Partner for RSM and FGMK, LLC, and has experience in mergers and acquisitions, capital raising, and transaction structuring. He has also served as Chief Financial Officer for other financial services companies, most recently as CFO of Sanctuary Wealth.

Ryan Marcus, Chief Business Development and Engagement Officer

Mr. Marcus was appointed in May 2025 and is responsible for leading the development and implementation of long-term business strategies for Binah Capital Group's network of broker-dealers. He brings a strong background in strategic growth and wealth management, having previously led business development and client engagement initiatives at MarketCounsel.

Kathrine Flouton, President and Chief Executive Officer of Purshe Kaplan Sterling Investments, Inc.

Ms. Flouton holds the position of President and Chief Executive Officer of Purshe Kaplan Sterling Investments, Inc., a subsidiary of Binah Capital Group, Inc.

Roger Farrell Leibowitz, Chief Financial Officer of Cabot Lodge Securities, LLC

Mr. Leibowitz serves as the Chief Financial Officer of Cabot Lodge Securities, LLC, which is a subsidiary of Binah Capital Group, Inc.

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The key risks to Binah Capital Group, Inc. (BCG) primarily stem from the highly regulated nature of the wealth management industry, its reliance on independent financial advisors, and exposure to market fluctuations and intense competition.

1. Regulatory Risks and Advisor Misconduct: Binah Capital Group is subject to extensive regulation by bodies such as the SEC, FINRA, and state regulators. Changes in these regulations, increased compliance costs, or the imposition of sanctions could significantly impact the company's operations and financial performance. A particularly acute risk for Binah Capital, given its business model of supporting independent financial advisors, is the potential for misconduct by these advisors. Such actions could lead to severe regulatory sanctions and significant reputational damage to the company.
2. Market Risks: As a company operating in the wealth management sector, Binah Capital Group's financial results are inherently exposed to fluctuations in financial markets. Changes in interest rates, credit spreads, and equity prices can adversely affect the value of assets under management, client investment decisions, and consequently, the company's revenue and profitability.
3. Intense Competition: Binah Capital Group operates within a highly competitive wealth management industry. The company faces competition from larger firms that often possess greater financial and operational resources. This competitive pressure can impact Binah Capital's ability to attract and retain financial advisors and clients, potentially affecting its growth and market share.

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• The increasing adoption of robo-advisors and automated investment platforms poses a clear emerging threat. These technology-driven solutions offer low-cost investment management directly to consumers, potentially reducing the demand for services provided by traditional human financial advisors, who are Binah Capital's primary client base.
• Continued fee compression and the pervasive trend towards zero-commission trading in the brokerage industry represent an emerging threat. This development puts significant pressure on the revenue generated from execution services, a core offering from Binah Capital, and also impacts the overall profitability of the financial advisors Binah Capital supports.

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Binah Capital Group, Inc. (BCG) is expected to drive future revenue growth over the next 2-3 years through several key strategies centered around expanding its wealth management operations.

One primary driver is the **growth in Assets Under Management (AuM)**. Binah Capital has consistently reported increases in its AuM, with an 11% year-over-year rise to $30.0 billion by the third quarter of 2025, an 11% increase to $28 billion in Q2 2025, and a 13% increase to $27 billion in Q4 2024. This growth in managed assets directly contributes to higher advisory and brokerage fees, which form a significant part of the company's revenue.

Another significant driver is an **external growth strategy focusing on acquisitions and the recruitment of new businesses and financial advisors**. The company's CEO, Craig Gould, indicated a "robust acquisition and recruiting pipeline" for 2025, with ongoing efforts to "onboard additional new businesses". This inorganic growth approach, exemplified by welcoming a recently acquired Commonwealth Team to its broker-dealer platform in late 2025, expands Binah Capital's network and client base.

Furthermore, the company's **advisor-centric platform and hybrid-friendly business model** are crucial for attracting and retaining financial advisors. Management has highlighted this differentiated platform as a key factor in its growth opportunities and advisor platform momentum. By supporting independent and hybrid advisory firms, Binah Capital aims to increase the number of advisors utilizing its services, thereby expanding its overall assets and revenue streams from commissions and advisory fees.

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Share Issuance

• Binah Capital Group has a shelf registration statement that allows for the issuance of up to 14,442,665 shares of Common Stock upon the exercise of warrants.
• In 2024, a private placement was completed, resulting in investors purchasing 150,000 shares of Series B Preferred Stock for $1.5 million at $10.00 per share.
• On February 25, 2026, the CEO, Craig Gould, was granted 94,828 fully vested restricted shares of common stock under the company's 2024 Equity Incentive Plan.

Inbound Investments

• Binah Capital Group refinanced its senior credit facility with Byline Bank, securing a $20.3 million term loan as of March 31, 2025.
• A $1.5 million private placement in 2024 involved investors acquiring 150,000 shares of Series B Preferred Stock at $10.00 per share.

Outbound Investments

• Subsequent to the first quarter of 2025, Binah Capital Group welcomed Bleakley Financial Group, an acquisition that contributed to revenue growth and strengthened its platform.
• In December 2025, a Chicago-based advisory team, recently acquired by Merit Financial Advisors, chose Binah's PKS Investments to route approximately $1.2 billion in client assets for commission-based business.

Capital Expenditures

• Binah Capital invested $47K in capital expenditures during Q3 2025, primarily for funding long-term assets and infrastructure.