By providing the ability for representatives to clear business through two distinct platforms, National Financial Services, LLC (NFS) and Pershing, LLC, Securities America is helping to ensure your independence as a business person and a professional financial representative. Equally powerful and equally unique, these two platforms provide the opportunity to pick which company best meets your mix of business, your style of doing business, and your personal preferences.
We have established a service level agreement with both of these clearing companies that outlines specific service standards and obligations to be met to ensure you the pinnacle of service, no matter which platform you use.
All customer brokerage accounts at Securities America, Inc. are carried by National Financial Services, LLC ("NFS"), a Fidelity Investments Company, or by Pershing, LLC ("Pershing"), a subsidiary of The Bank of New York Company, Inc. Investments carried by both NFS and Pershing are protected in accordance with the Securities Investor Protection Corporation ("SIPC") up to $500,000 (including cash claims limited to $100,000). An explanatory brochure is available at SIPC.org. Both companies have arranged additional protection for cash and securities to supplement its SIPC coverage. This additional coverage provided through Lloyd's of London will protect assets up to an overall aggregate level of $1 billion for assets in custody at the clearing firm including $1.9 million cash. Neither coverage protects against a decline in the market value of securities.
If you already have your own Registered Investment Advisor Firm, we can help you meet and maintain many of your regulatory compliance requirements through our Investment Advisor Drafting Assistance Program. We can provide assistance with drafting, maintaining and updating your Form ADV Part I (through the IARD system), Form ADV Part II and Schedule F, Client Agreement(s) and Written Policies and Procedures Manual. You’ll receive regulatory change notices and updates, state renewal and annual fee reminders, and other information to help you stay in compliance.
Audits
Our on-site office inspections help ensure that your business’ operations remain in compliance with industry regulatory expectations. Office inspections are conducted on both a scheduled and unannounced basis.
Compliance Support and Supervision
Securities America’s regionalized, personal compliance support offers professional review of your business (and your representatives’ business, if you’re an OSJ Manager). The supervision staff provide expertise in working within the industry’s ever-evolving regulatory environment. Your personal compliance supervision contacts give feedback on changes in securities regulation and how the changes impact Securities America’s policies and procedures. In addition, your regional supervision staff will help you protect your clients through the best practices of documentation and education, critical components to securing your practice.
