# EDGAR Filing Document

**Accession Number:** 0001491105
**File Stem:** 0001491105-23-000001
**Filing Date:** 2023-2
**Character Count:** 21288
**Document Hash:** 9db343c4f02343dbd4581c7efede0845
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001491105-23-000001.hdr.sgml**: 20230228

**ACCESSION NUMBER**: 0001491105-23-000001

**CONFORMED SUBMISSION TYPE**: X-17A-5

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230228

**DATE AS OF CHANGE**: 20230228

**EFFECTIVENESS DATE**: 20230228

**PERIOD START**: 20220101

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BRATTLE ADVISORS LLC
- **CENTRAL INDEX KEY:** 0001491105
- **IRS NUMBER:** 270646323
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** X-17A-5
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 008-68585
- **FILM NUMBER:** 23683837

**BUSINESS ADDRESS:**
- **STREET 1:** 53 STATE STREEET, SUITE 500
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02109
- **BUSINESS PHONE:** 617 391-3595

**MAIL ADDRESS:**
- **STREET 1:** 53 STATE STREEET, SUITE 500
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02109

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** GREENSIDE CAPITAL LLC
- **DATE OF NAME CHANGE:** 20100504

### Attached PDF Documents

**Attachment 1:** `2022Brattleauditpublic.pdf`

# **BRATTLE ADVISORS LLC**  
**STATEMENT OF FINANCIAL CONDITION**  
**PURSUANT TO SEC RULE 17a-5**  
**DECEMBER 31, 2022**

# UNITED STATES

# SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

# ANNUAL REPORTS

# FORM X-17A-5

# PART III

# OMB APPROVAL

OMB Number: 3235-0123

Expires: Oct. 31, 2023

Estimated average burden

hours per response: 12

# SEC FILE NUMBER

# 8-68585

# FACING PAGE

Information Required Pursuant to Rules 17a-5, 17a-12, and 18a-7 under the Securities Exchange Act of 1934

FILING FOR THE PERIOD BEGINNING 01/01/2022 AND ENDING 12/31/2022

MM/DD/YY

MM/DD/YY

# A. REGISTRANT IDENTIFICATION

NAME OF FIRM: Brattle Advisors LLC

TYPE OF REGISTRANT (check all applicable boxes):

☑ Broker-dealer

☐ Security-based swap dealer

☐ Major security-based swap participant

☐ Check here if respondent is also an OTC derivatives dealer

ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use a P.O. box no.)

53 State Street, Suite 500

| (No. and Street) |  |  |
| --- | --- | --- |
| Boston | MA | 02109 |
| (City) | (State) | (Zip Code) |

PERSON TO CONTACT WITH REGARD TO THIS FILING

| Arthur Chamian | 619-391-3595 | achamian@brattleadvisors.com |
| --- | --- | --- |

(Name)

(Area Code - Telephone Number)

(Email Address)

# B. ACCOUNTANT IDENTIFICATION

INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing*

Ohab and Company. PA

(Name - if individual, state last, first, and middle name)

| 100 E Sybelia Ave, Suite 130 | Maitland | FL | 32751 |
| --- | --- | --- | --- |

(Address)

(City)

(State)

(Zip Code)

(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 be covered by the 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.

# OATH OR AFFIRMATION

I, Arthur Chamian, swear (or affirm) that, to the best of my knowledge and belief, the financial report pertaining to the firm of Brattle Advisors LLC, as of 12-31, 2022, 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.

CAROLINA YONG
Notary Public, Commonwealth of Massachusetts
My Commission Expires August 03, 2029

Signature: [Signature]
Title:
President

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.
☐ (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.
☐ (l) 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.
☐ (o) Reconciliations, including appropriate explanations, of the FOCUS Report with computation of net capital or tangible 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.
☐ (q) Oath or affirmation in accordance with 17 CFR 240.17a-5, 17 CFR 240.17a-12, or 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 report or 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.
☐ (x) Supplemental reports on applying agreed-upon procedures, in accordance with 17 CFR 240.15c3-1e or 17 CFR 240.17a-12, as applicable.
☐ (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-12(k).
☐ (z) Other: ________________

**To request confidential treatment of certain portions of this filing, see 17 CFR 240.17a-5(e)(3) or 17 CFR 240.18a-7(d)(2), as applicable.

[LOGO]

Chab and Company, P.A.

100 E. Sybelia Ave. Suite 130

Maitland, FL 32751

Certified Public Accountants

Email: pam@ohabco.com

Telephone 407-740-7311

Fax 407-740-6441

# REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Board of Directors and Members'
of Brattle Advisors LLC

# Opinion on the Financial Statement

We have audited the accompanying statement of financial condition of Brattle Advisors LLC as of December 31, 2022, and the related notes (collectively referred to as the "financial statement"). In our opinion, the financial statement presents fairly, in all material respects, the financial position of Brattle Advisors LLC 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 Brattle Advisors LLC's management. Our responsibility is to express an opinion on Brattle Advisors LLC'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 Brattle Advisors LLC 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.

Chab and Company, P.A.

We have served as Brattle Advisors LLC's auditor since 2021.

Maitland, Florida

February 23, 2023

# **BRATTLE ADVISORS LLC**

# **STATEMENT OF FINANCIAL CONDITION**

**DECEMBER 31, 2022**

# **ASSETS**

| Cash | $186,589 |
| --- | --- |
| Prepaid expenses | 3,586 |
| Furniture, vehicle, and computer equipment at cost, less accumulated depreciation of $27,227 | 8,005 |
| Security deposit | 74 |
| Total assets | $198,254 |

# **LIABILITIES AND MEMBERS' EQUITY**

| Liabilities: |  |
| --- | --- |
| Accounts payable and accrued expenses | $11,838 |
| Lease liability-financing lease | 5,991 |
| Total liabilities | 17,829 |
| Members' equity | 180,425 |
| Total liabilities and members' equity | $198,254 |

The accompanying notes are an integral part of these financial statements.

# **BRATTLE ADVISORS LLC**  
**NOTES TO FINANCIAL STATEMENTS**  
**FOR THE YEAR ENDED DECEMBER 31, 2022**

# **1. ORGANIZATION AND NATURE OF BUSINESS**

Brattle Advisors LLC (the Company) was organized on July 13, 2009. The Company, which is based in Boston, Massachusetts, is a registered Broker-Dealer and in this capacity provides institutional private placement services. The Company is subject to the regulations of certain federal and state agencies and undergoes periodic examinations by the Financial Industry Regulatory Authority.

# Recent Issued Accounting Pronouncements

The Company does not believe that the adoption of any recently issued, but not yet effective, accounting standards will have a material effect on its financial position and results of operations.

# **2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES**

# Basis of Presentation

The accompanying financial statements have been prepared in conformity with U.S generally accepted accounting principles ('GAAP') and the rules and regulations of the United States Securities and Exchange Commission (the 'Commission'). It is management's opinion, that all material adjustments (consisting of normal recurring adjustments) have been made which are necessary for a fair financial statement presentation.

# Cash and cash equivalents

The Company considers all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents. Cash equivalents are carried at cost, which approximates market value.

# Accounting basis

The Company uses the accrual basis of accounting for financial statement and income tax reporting. Accordingly, revenues are recognized when services are rendered, and expenses realized when the obligation is incurred.

# Income Taxes

The financial statements include only those assets, liabilities and results of operations which relate to the business of Brattle Advisors LLC. The financial statements do not include any assets, liabilities, revenues, or expenses attributable to the members' individual activities.

The Company is a limited liability company, taxed as a partnership for federal income tax purposes, and, thus, no federal income tax expense has been recorded in the financial statements. Taxable income of the Company is passed through to the members and reported on their individual tax returns.

Pursuant to accounting guidance concerning provision for uncertain income tax provisions contained in Accounting Standards Codification ('ASC') 740-10, there are no uncertain income tax positions. The federal and state income tax returns are subject to examination by the IRS and state taxing authorities, generally for three years after they were filed.

# Use of Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America 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.

# **BRATTLE ADVISORS LLC**  
**NOTES TO FINANCIAL STATEMENTS**  
**FOR THE YEAR ENDED DECEMBER 31, 2022**

# **2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)**

# Revenue Recognition

# *Significant Judgments*

Revenue from contracts with customers includes fees from investment banking services. The recognition and measurement of revenue is based on the assessment of individual contract terms. Significant judgment 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; whether revenue should be presented gross or net of certain costs; and whether constraints on variable consideration should be applied due to uncertain future events.

# *Investment Banking*

The Company provides advisory services on mergers and acquisitions (M&A). Revenue for advisory arrangements is generally recognized at the point in time that performance under the arrangement is completed (the closing date of the transaction) or the contract is cancelled. However, for certain contracts, revenue is recognized over time for advisory arrangements in which the performance obligations are simultaneously provided by the Company and consumed by the customer. In some circumstances, significant judgment is needed to determine the timing and measure of progress appropriate for revenue recognition under a specific contract. Retainers and other fees received from customers prior to recognizing revenue are reflected as contract liabilities. At December 31, 2022, there were no unsatisfied performance obligations.

# Depreciation

The Company capitalizes major capital expenditures. Depreciation is based on straight line method over the following useful lives:

| Computer and office equipment | 5 years |
| --- | --- |
| Furniture and fixtures | 7 years |

Depreciation expense for the year ended December 31, 2022 was $367 for computer equipment and furniture.

Furniture, vehicle, and computer equipment at December 31, 2022, consist of the following:

| Computer and office equipment | $8,032 |
| --- | --- |
| Furniture and fixtures | 550 |
| Vehicle | 26,650 |
|  | 35,232 |
| Less: accumulated depreciation | (27,227) |
|  | $8,005 |

# **BRATTLE ADVISORS LLC**  
**NOTES TO FINANCIAL STATEMENTS**  
**FOR THE YEAR ENDED DECEMBER 31, 2021**

# **2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)**

# Fair Values of Financial Instruments

Financial Accounting Standards Board Accounting Standards Codification (“ASC”) 825, “Financial Instruments,” requires the Company to disclose estimated fair values for its financial instruments. Fair value estimates, methods, and assumptions are set forth below for the Company’s financial instruments: The carrying amount of cash, accounts receivable, prepaid expenses and accounts payable and accrued expenses, approximate fair value because of the short maturity of those instruments.

# Concentrations of Credit Risk

The Company places its cash with a high credit quality financial institution. The Company’s account at this institution is insured by the Federal Deposit Insurance Corporation (“FDIC”) up to $250,000. From time to time, the Company may have bank balances that exceed the FDIC insurance limit on interest bearing accounts. To reduce its risk associated with the failure of such financial institution, the Company evaluates at least annually the rating of the financial institution in which it holds deposits. The Company does not believe that the concentration of credit risk of bank deposits represents a material risk of loss with respect to its financial condition as of December 31, 2022.

# **3. NET CAPITAL**

The Company is subject to the SEC Uniform Net Capital Rule (Rule 15c3-1), which requires the maintenance of minimum net capital of $5,000 and requires that the ratio of aggregate indebtedness to net capital, both as defined, not exceed 15 to 1. The rule also provides that equity capital may not be withdrawn, cash dividends paid, or the Company’s operations expanded, if the resulting net capital ratio would exceed 10 to 1. At December 31, 2022, the Company had net capital of $174,751, which was $169,751 in excess of the FINRA minimum net capital requirement of $5,000.

# **4. SIPC RECONCILIATION REQUIREMENT**

Securities Exchange Act (“SEA”) Rule 17a-5(e)(4) requires a registered broker-dealer to file a supplemental report which includes procedures related to broker-dealers SIPC annual general assessment reconciliation or exclusion from membership forms. In circumstances where the broker-dealer reports $500,000 or less in gross revenue they are not required to file supplemental SIPC report. The Company is exempt from filing the supplemental report under SEA Rule 17a-5(e)(4) because it is reporting less than $500,000 in gross revenue.

# **5. COMMITMENTS AND CONTINGENCIES**

# Litigations

There are no lawsuits or other contingencies as of December 31, 2022.

# **BRATTLE ADVISORS LLC**  
**NOTES TO FINANCIAL STATEMENTS**  
**FOR THE YEAR ENDED DECEMBER 31, 2022**

# **5. COMMITMENTS AND CONTINGENCIES (continued)**

# Capital Lease Obligation

The Company purchased a vehicle via a financing lease which is capitalized at fair value as follows:

| Cost | $26,650 |
| --- | --- |
| Less accumulated depreciation | (18,645) |
|  | $8,005 |

Interest expense is recognized over the life of the lease using a constant rate applied to the declining balance of the liability.

Future minimum payments under the vehicle lease are the following:

|  | 2023 | 6,022 |
| --- | --- | --- |
|  | Total: | $6,022 |
| Less imputed interest |  | (31) |
| Total lease liability |  | $5,991 |

The total lease cost associated with this lease for the year ended December 31, 2022 was $8,445 in amortization of capitalized financing lease assets and $137 interest expense on the finance of the lease liability.

# **6. RELATED PARTY TRANSACTIONS**

The Company is under a month-to-month rental arrangement which has no impact on the adoption of ASC 842. The lease is with a member of the Company. The Company paid $9,600 in office rent for the year ended December 31, 2022.

# **7. SUBSEQUENT EVENTS**

The Company evaluated events occurring between the end of its fiscal year, December 31, 2022, and the auditor’s report date, when the financial statements were issued. All subsequent events requiring recognition as of the auditor’s report date, have been incorporated into these financial statements herein.

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## FORM X-17A-5

### ANNUAL AUDITED REPORT

### Filer Information

**Filer CIK:** 0001491105

**Filer CCC:** XXXXXXXX

**Is this a LIVE or TEST filing?:** LIVE

**Would you like a Return Copy?:** No

### Submission Information

**Report Period Begin Date:** 01-01-2022

**Report Period End Date:** 12-31-2022

**Type of Registrant:** Broker-dealer

**Any material weaknesses identified?:** No

### Registrant Identification

**Name of Broker-Dealer:** BRATTLE ADVISORS LLC

**Business Address:** 53 STATE STREEET, SUITE 500, BOSTON, MA, 02109

**Contact Person:** Kathleen Camisa

**Contact Phone:** 6096587501

### Independent Public Accountant Identification

**Accountant Name:** Ohab and Company PA

**Accountant Address:** 100 E Sybelia Avenue, Suite 130, Maitland, FL, 32751

**Accountant Type:** Certified Public Accountant

### OATH OR AFFIRMATION

I, **Arthur Chamain**, swear (or affirm) that, to the best of my knowledge and belief, the accompanying financial statements and supporting schedules pertaining to the firm of **BRATTLE ADVISORS LLC**, as of **12-31-2022**, are true and correct.

**Signature:** Arthur Chamain

**Title:** President

**Notarized:** Yes