Binah Capital Group Inc
binahcap.comWhat Do They Do?
Provides brokerage and investment advisory services, investment products, and practice support to independent financial advisors and advisors at other financial services companies.
10-K for FY2025, filed Mar 31, 2026
How Do They Make Money?
Advisors generate commissions when clients buy or sell securities and other investment products; some commissions continue while clients hold eligible investments and receive ongoing support. The company also charges account-based advisory fees for ongoing advice and administrative services.
10-K for FY2025, filed Mar 31, 2026Commission revenues represent sales commissions generated by advisors for their clients’ purchases and sales of securities on exchanges and…View ↗
The Company generates two types of commission revenue: sales-based commissions that are recognized at the point of sale on the trade date…View ↗
Advisory fees represent fees charged to advisors’ clients’ accounts on the Company’s corporate advisory platform. The Company provides…View ↗
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10-K for FY2025, filed Mar 31, 2026
FY2025 revenue by product or service (Revenues From Contracts with Customers) ↗
$187.1M
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10-K for FY2025, filed Mar 31, 2026
$187.1M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Variable annuities and other insurance commissions
|
59% |
Variable annuities and other insurance commissions, FY2025
$106.8M Sources
|
|
|
Mutual fund commissions
|
13% |
Mutual fund commissions, FY2025
$24M Sources
|
|
|
Securities commissions
Sold outright
|
6.5% |
Securities commissions, FY2025
$11.8M Sources
|
Sold outright |
|
Alternative investments
|
5.9% |
Alternative investments, FY2025
$10.7M Sources
|
|
|
Advisory fees
Recurring
10-K for FY2025, filed Mar 31, 2026 |
16% |
Advisory fees, FY2025
$28.6M Sources
|
Recurring |
Who Are Their Customers?
Advisors affiliate as independent contractors or employees, while hybrid arrangements let them keep fee-based advisory practices alongside commission business.
10-K for FY2025, filed Mar 31, 2026PKSI operates under a Hybrid Business Model, which allows our independent registered representatives to maintain registration with our…View ↗
The Cabot Entities and WEG operate primarily an Independent Business Model, which allows our independent broker-dealers to affiliate with…View ↗
In addition to the Hybrid Business Model, the PKSH Entities operate under a W2 Business Model, which allows our independent broker-dealers…View ↗
Do Revenues Turn Into Profits?
Yes. It kept 1 cent of every revenue dollar as net income in FY2025 and turned 3 cents into free cash flow.
How Are They Changing?
- Net income
-
Sources
10-Q for Q2 FY2026, filed Aug 13, 2026
$337KView ↗
- ▲ Now profitable
- vs −$654K in Q2 FY2025
10-Q for Q2 FY2026, filed Aug 13, 2026
Open tableView ↗
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