For your safety and convenience, our clearing firm is Pershing, a part of BNY Securities Group and a subsidiary of The Bank of New York which is a member of the New York Stock Exchange. In addition, securities and cash awaiting reinvestment held in custody by Pershing receive the highest level of account coverage in the marketplace today.

Management

Reid H. Drescher is the President, CEO, and founder of the Firm. Mr. Drescher is involved in all aspects of the firm, from assisting in the structuring and placement of the Firm's offerings to the oversight of the firm's broker dealer operation. Prior to founding the Firm in 1997, Mr. Drescher served as Senior Vice President-Investments and Senior Portfolio Manager with PaineWebber, Inc. from July 1994 to May 1997, Inc., and also served in the same positions with Prudential Securities from September 1990 to July 1994. Mr. Drescher is a graduate of The University of Miami with a degree in Business Administration.

John Venezia joined the firm in 2000 and serves as the Chief Compliance Officer as well as the firm's Registered Options Principal. Prior to joining the Firm, Mr. Venezia was an assistant Head Trader with Cambridge Capital. Mr. Venezia has an M.B.A. from Hofstra University and holds the following industry licenses: Series 4, 7, 24, 53, 55, and 63.

Vito A. DiVenere joined the firm in 1997 and serves as the firm's Chief Operating Officer. In this role, Mr. DiVenere oversees all operational aspects of the firm. Prior to his association with Spencer Clarke, Mr. DiVenere held positions with NationsBank (now a part of Bank of America) and LIT America. Mr. DiVenere attended Loyola University in Chicago and holds the following industry licenses: Series 7, 24, 55 and 63.

David Drescher, CPA has been with the Firm since its founding, serving in the capacities of Chief Financial Officer and Controller for the Firm. Prior to his affiliation with Spencer Clarke LLC, Mr. Drescher was the founder and Partner for 25 years at the certified public accounting firm of DDK & Co. Mr. Drescher holds a B.S. in Accounting from Brooklyn College.





For your safety and convenience, our clearing firm is Pershing, a part of BNY Securities Group and a subsidiary of The Bank of New York which is a member of the New York Stock Exchange. In addition, securities and cash awaiting reinvestment held in custody by Pershing receive the highest level of account coverage in the marketplace today.	Management Reid H. Drescher is the President, CEO, and founder of the Firm. Mr. Drescher is involved in all aspects of the firm, from assisting in the structuring and placement of the Firm's offerings to the oversight of the firm's broker dealer operation. Prior to founding the Firm in 1997, Mr. Drescher served as Senior Vice President-Investments and Senior Portfolio Manager with PaineWebber, Inc. from July 1994 to May 1997, Inc., and also served in the same positions with Prudential Securities from September 1990 to July 1994. Mr. Drescher is a graduate of The University of Miami with a degree in Business Administration. John Venezia joined the firm in 2000 and serves as the Chief Compliance Officer as well as the firm's Registered Options Principal. Prior to joining the Firm, Mr. Venezia was an assistant Head Trader with Cambridge Capital. Mr. Venezia has an M.B.A. from Hofstra University and holds the following industry licenses: Series 4, 7, 24, 53, 55, and 63. Vito A. DiVenere joined the firm in 1997 and serves as the firm's Chief Operating Officer. In this role, Mr. DiVenere oversees all operational aspects of the firm. Prior to his association with Spencer Clarke, Mr. DiVenere held positions with NationsBank (now a part of Bank of America) and LIT America. Mr. DiVenere attended Loyola University in Chicago and holds the following industry licenses: Series 7, 24, 55 and 63. David Drescher, CPA has been with the Firm since its founding, serving in the capacities of Chief Financial Officer and Controller for the Firm. Prior to his affiliation with Spencer Clarke LLC, Mr. Drescher was the founder and Partner for 25 years at the certified public accounting firm of DDK & Co. Mr. Drescher holds a B.S. in Accounting from Brooklyn College.