Services & Products of RTA Analysis, LLC
Our primary services, as described below, are available to FINRA broker-dealers offering Investment Programs ("IPs") to the public through their Financial Advisors. Broker-dealer clients may purchase existing reports from our inventory or request that RTA conduct a review on their behalf. Refer to the pricing schedule for information about fees for RTA services.
Investment Program Financial Reviews
RTA Analysis, LLC conducts a financial and performance review as well as distribution analysis of selected operating REITs, BDCs and other IPs. The IP financial review consists of two types of reviews: the Annual Financial Performance Analysis and the Distribution Analysis & Quarterly Update.
Annual Financial Performance Analysis
On an annual basis, RTA reviews the IP’s recent 10-Ks and other filings to evaluate its financial health. This review includes in-depth financial statement analysis and analysis of the IP’s declared and paid distributions relative to its ability to cover distributions. The Sponsor-provided financial model is also evaluated, and the projections are compared to actual results to-date. Additionally, the review includes a look at the IP’s portfolio of assets, their performance and prospects for contributing to the financial health of the IP, with an emphasis on problem assets. These analyses and a review of the per-share estimated value (for use on customer account statements) help clients comply with FINRA Regulations such as Notice 09-09.
A comprehensive IP Annual Report is issued by RTA following this review.
Distribution Analysis & Quarterly Update
Following the first, second, and third fiscal quarters, an analysis of the selected IP’s 10-Qs and other recent filings is conducted to ensure that it is meeting its distribution requirements and can financially support the distributions. RTA conducts this review as each quarter’s financial filings are completed. In addition to the quarterly distribution analysis, the review includes a financial statement and portfolio overview to identify material changes.
An IP Quarterly Report is issued following this review.
Sponsor Financial Reviews
RTA Analysis, LLC conducts a comprehensive review of each selected IP’s sponsor’s current financial condition, past financial performance, and financial business plan, as necessary. This review encompasses an in-depth financial analysis to determine the Sponsor’s ability to perform its duties to the investment programs it sponsors. The analysis is based on the Sponsor’s annual audited financial statements, with a four-year look-back period. Additionally, its organizational structure is evaluated and its potential revenue stream is analyzed relative to its fundraising activities. Furthermore, the Sponsor’s business plan is evaluated in relation to its structure, financial position, and current activities.
A comprehensive Sponsor Financial Report is issued by RTA following this annual review.