Comparing the current results to its competitors, Siebert Financial reported Revenue decrease in the 4 quarter 2021 year on year by -0.93 %, despite the revenue increase by the most of its competitors of 19.93 %, recorded in the same quarter.
Siebert Financial Corp, despite income growth by most of its competitors recorded a net loss, despite income increase by most of its competitors of 47.75 %
Siebert Financial's Comment on Competitors and Industry Peers
Siebert encounters significant competition from full-commission, online and discount
brokerage firms, as well as from financial institutions, mutual fund sponsors
and other organizations, many of which are significantly larger and better capitalized
than Siebert. Although there has been consolidation in the industry in both the
online and traditional brokerage business during recent years, Siebert believes
that additional competitors such as banks, insurance companies, providers of online
financial and information services and others will continue to be attracted to
the online brokerage industry. Many of these competitors are larger, more diversified,
have greater capital resources, and offer a wider range of services and financial
products than Siebert. Some of these firms are offering their services over the
Internet and have devoted more resources to and have more elaborate websites than
Siebert. Siebert competes with a wide variety of vendors of financial services
for the same customers. Siebert believes that its main competitive advantages
are high quality customer service, responsiveness, cost and products offered,
the breadth of product line and excellent executions.