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Brokerage Account Benefits

By holding securities in your brokerage account, you can take advantage of the following benefits:

Consolidation
Consolidate your investment portfolio into a single brokerage account which would allow you and your investment professional to regularly monitor and track your financial strategy and see how it is meeting your needs. As a client you benefit from:

  • More control and Less Paper - Fewer accounts mean greater control and less paperwork.
  • Convenient Account Access - day and night access, with a single login.
  • Enhanced Service - With your assets combined into a single account, client service is centralized, so you will get improved response times.
  • Experience the Power of Combining Assets - Combining your assets provides you and your investment professional with a more holistic view of your portfolio for more effective asset allocation.

Convenience
Dividends, interest and bond redemption proceeds for securities will be credited to your account on scheduled payment dates, and you can arrange to receive these proceeds automatically and on a regular basis. Your portfolio will also be monitored for possible early redemptions, tender offers, mergers, name changes and other corporate actions.

 

Member of SIPC
Pershing is a member of the Securities Investor Protection Corporation® (SIPC®). As a result, securities in your account are protected up to USD 500,000 (of which USD 250,000 can be for claims for cash awaiting reinvestment). For details, please go to www.sipc.org.

 

Excess of SIPC Coverage
In addition to SIPC protection, Pershing provides coverage in excess of SIPC limits from Lloyd's of London, in conjunction with other insurers. The excess of SIPC coverage provides the following protection for assets held in custody by Pershing and Pershing Securities Limited, its London based affiliate:

  • An aggregate loss limit of $1 billion for eligible securities—across all client accounts
  • A per-client loss limit of USD 1.9 million for cash awaiting reinvestment —within the aggregate loss limit of USD 1 billion

Neither SIPC nor the excess of SIPC coverage protects against loss due to market fluctuation of investments. For more information about Lloyd's of London, please see www.lloyds.com.

 

Simplicity
Selling your securities is as simple as contacting your investment professional. There is no inconvenience or delay in locating and delivering your securities when they are held in your brokerage account.

 

Short Settlement Cycle

The Securities and Exchange Commission (SEC) rule regarding three-day settlement requires that your securities transactions settle on the third business day following the trade. This means that when selling securities, your certificates are required to be in your brokerage account within three business days. Having your securities in a brokerage account eliminates the need to worry about your securities being delivered on time as the securities are already in your account.

  1. An excess of SIPC coverage claim would only arise in the unlikely event that Pershing fails financially and client assets for covered accounts—as defined by SIPC for Pershing LLC accounts or the Financial Services Compensation Scheme (FSCS) for Pershing Securities Limited accounts—cannot be located due to theft, misplacement, destruction, burglary, robbery, embezzlement, abstraction, failure to obtain or maintain possession or control of client securities, or to maintain the special reserve bank account required by applicable rules.
  2. The USD 1 billion aggregate loss limit for eligible securities is the highest policy offered in the industry.
  3. Only equities and load funds are subject to a three-day settlement cycle.
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