Liberty Associates, Inc.

Project Data Room

Throughout Liberty Associates’ history, the company had successfully functioned as a closely-held specialty Broker-Dealer (BD)The Liberty Associates, Inc. Expansion project or the LAI-Expansion project is a full-service consulting assignment involving the comprehensive and complex ownership change and expansion of a 33 year old, Manhattan based, SEC licensed, FINRA regulated Broker-Dealer (FINRA CRD 150701). The entity itself, Liberty Associates, Inc. is a C-type corporation established in 1984.

Throughout Liberty Associates’ history, the company had successfully functioned as a closely-held specialty Broker-Dealer (BD). The entity was founded by the Late Sidney W. Azriliant, Attorney at Law and CPA (R.I.P.) and was part of a family of companies which included Attorney Azriliant’s law firm, S&E Azriliant, P.C. and his accountancy firm, S.W. Azriliant, CPA. As such, the Broker-Dealer was a closely-held company and further was limited in scope and its offerings. Essentially, the company had never been held out to the general market and its services were exclusively reserved for the Client’s of the Azriliant Family of Companies.

Although limited in scope, Liberty had successful operated as an ongoing Broker-Dealer, uninterrupted for its entire history. Liberty Associates, Inc. is an SEC approved, NASD/FINRA authorized, registered and regulated Broker-Dealer. Over the many years, regulatory requirements and operational necessities had increased drastically. They were grandfather by the NASD with their original NADQ membership agreement and as such were protected in their limited functionality but were also severely restricted and pigeon-holed without the required major overhaul being completed. That was prior to and up until to the completion of the Phase-1 expansion completed as of December, 2017. This meant that starting in 2018 the company could now begin to expand and operate in areas they have never been authorized to before.

This consulting undertaking has involved a comprehensive, multi-year effort. Broadly, the consulting assignment has included but has not been limited to:

a complete change of ownership of the entity
expansion of the Broker-Dealer’s authorized lines of business
creating the compliance infrastructure and operating procedures and manuals
recruiting and putting in place key personnel, including: the Officers, required Principals and Operational Personnel with Support Staff to change the ownership, move the company into mother compliances standards, expand the business-lines.
initiating the growth, expansion and branding process.

Liberty Associates, Inc. had historically operated as a closely-held, limited, and exclusive, specialty broker-dealer. The platform had for over a 33-year successfully fulfilled its founding mission which was to strictly operate as a “specialized” Broker-Dealer that provides financial products and services which were distinctively tailored exclusively for the Firm’s Clientele’s needs. Under their historic mandate, the Company had serviced and managed clients’ and their assets on a nationwide basis but all the firm was utilized by a prominent Corporate and Tax Law and a related CPA firm’s. As such the Firm’s Clients were exclusively, mutual Clientele of the Law and CPA Firms, also owned and operated by the visionary Founder, Sidney A. Azriliant, CPA and Attorney at Law (RIP). In essence, the Firm’s products and services were never marketed or provided to the general investing public but instead used as an adjunct or tool for the Law Firm’s and CPA Firm’s estate and corporate planning.

This was a significant change which was required in the objectives.

The assignment which has become knows as “the LAI-Expansion Project” involves among many requirements the delicate purchase and sales negotiations including the negotiation and mediation of the terms, navigating complex regulatory requirements involving multiple Federal, State, Local and Quasi-Private entities for obtaining authorization the change of ownership and the platform’s operational structure, the expansion of the authorized lines of business which also required putting in place the complete restructuring, operating procedures and to support the expansion of the authorized business-lines and adding a global banking platform to support the Clearing and Custodial requirements of Client accounts and their transactions.

The scope of the assignment includes negotiation, mediating and settlement for the terms of the sale, the execution of the change of ownership, the expansion of the SEC and FINRA authorized lines of business. Included in this process was the design of a business model unique to the firm and its resources but also with an eye towards modern technological practices and business developments. These required the expansion of the authorized lines of business, establishing of the operational infrastructure, recruitment and hiring the managerial and support staff and initiating the recruitment high quality, top-producing Advisors and Brokers.

Creating the infrastructure to support the “upgraded platform” that had never existed prior included recruiting, licensing and hiring officers, principals and personnel and all which those requirements entail. Each one of these actions has had complex operational and oversight ramifications. Each activity required submission to and authorization by FINRA the Self-Regulating Organization (SRO) which is the securities industry regulating organization and authorization by the Securities Exchange Commission (SEC) as well as submissions to the various State Securities Administrators.

All these activities and the other operational requirements (refer below) has been done with an strict eye towards budgeting and cost management. This has kept the assignment manageable and limited the capital contribution requirements which have been bootstrapped by the Founders.

Liberty Associates, Inc. today…

which is also a Member of the MSRB and SIPC. Liberty Associates, Inc. has

Corporate Documents

Certificate of Inc. – LAI