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Our clearing firm, Pershing, is a member of the Securities Investor Protection Corporation (SIPC).  As a result, your assets held in custody by Pershing are protected up to $500,000 in value, including $100,000 in cash awaiting reinvestment.  For more detail of coverage, please see SIPC.org.

 In addition, we provide account protection in excess of SIPC limits through Lloyd’s of London.  The excess insurance policy purchased through Lloyd’s provides the following excess account protection for assets held in custody with Pershing and its London-based affiliate, Pershing Securities Limited:

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

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The account protection applies when a SIPC member firm fails financially and is unable to meet obligations to securities clients, but it does not protect against losses from the rise and fall in the market value of investments
We provide account protection in excess of SIPC limits through Lloyd’s of London
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