Broker Check

General Disclosures

The Company only transacts business in states where it is properly registered, or excluded or exempted from registration requirements.

Follow-up and individualized responses to persons that involve either the effecting or attempting to effect transactions in securities, or the rendering of personalized investment advice for compensation, as the case may be, will not be made absent compliance with state investment advisor and investment advisor representative registration requirements, or an applicable exemption or exclusion.


When acting as your Registered Investment Advisor, McClurg Capital is compensated by fees based on a percentage of assets under management. The fee includes investment advise, asset allocation, daily portfolio management, tax management, performance measurement and quarterly reports. Please call us for details.

Managed accounts are required to use McClurg Capital as broker/dealer and the Bank of New York Mellon/Pershing as custodian, and execution and clearing agent. Securities transactions are directed to Pershing through our New York affiliate Bernard Herold and Co. subject to a tri-party clearing agreement. McClurg Capital, Bernard Herold & Co., and Pershing may receive economic benefit from transaction charges.

McClurg Capital does not participate in any soft dollar arrangements. Although McClurg Capital utilizes third party research and services, they are not a factor in determining trading costs and/or management fees to clients.

McClurg Capital does not direct brokerage in return for any products or services.

McClurg Capital does not compensate any non-related persons for client referrals.

McClurg Capital does not participate in sales contests in connection with its investment advisory activities.

McClurg Capital does not accept any cash or non-cash compensation from issuers of securities or third-party vendors.


Orders for the purchase or sale of securities cannot be accepted via e-mail. Please telephone our offices.


All portfolios have a level of risk associated with economic and market changes. Securities are not FDIC insured, not bank guaranteed, and may lose money.

McClurg Capital Corporations Business Continuity Plan Disclosure

McClurg Capital has developed a Business Continuity Plan explaining how we will respond to events that significantly disrupt our business. Since the timing and impact of disasters and disruptions is unpredictable, we will have to be flexible in responding to actual events as they occur. With that in mind, we are providing you with this information on our business continuity plan.

Contacting Us

If after a significant business disruption you cannot contact your McClurg Capital Representative as you usually do, you should call our alternative numbers (415) 472-1445 or (888) 472-1430. If you cannot access us through either of those means, and you have a brokerage account carried by our clearing firm, Pershing, LLC, you should contact Pershing via its website or via telephone at (201) 413-3635 for instructions on how it may provide prompt access to your funds and securities including accepting buy and sell orders and issuing checks and wires from your account. If you cannot access the instructions from the website or previously noted telephone numbers, Pershing may be contacted via facsimile transmittal at (201) 413-5368 or at (213) 624-6100 extension 500 as an alternate telephone number for recorded instructions.

If your account is held at a mutual fund or insurance company, you should contact the company directly for access to your securities.

If you are unsure whether your account is carried by Pershing or by a mutual fund or insurance company, check your account statement. Brokerage accounts held with Pershing will have the McClurg Capital logo in the upper left corner; accounts held with a mutual fund or insurance company will have that company’s name and logo at the top of the statement.

Our Business Continuity Plan ("BCP")

We plan to quickly recover and resume business operations after a significant business disruption and respond by safeguarding our employees and property, making a financial and operational assessment, protecting the firm’s books and records, and allowing our customers to transact business. In short, our business continuity plan is designed to permit our firm to resume operations as soon as possible, given the scope and severity of the significant business disruption.

Our business continuity plan addresses the following: data back up and recovery; all mission critical systems; financial and operational assessments; alternative communications with customers, employees, and regulators; alternative physical location of employees; critical supplier, contractor, bank and counter-party impact; regulatory reporting; and assuring our customers prompt access to their funds and securities if we are unable to continue our business.

Our clearing firm, Pershing, LLC, backs up our important brokerage records in a geographically separate area. While every emergency situation poses unique problems based on external factors, such as time of day and the severity of the disruption, we have been advised by our clearing firm that its objective is to restore its own operations and be able to complete existing brokerage transactions and accept new transactions and payments within four hours. Your orders and requests for funds and securities could be delayed during this period.

If your account is held at a mutual fund or insurance company, the company will have back up records of your account information. Each company’s estimate of its recovery time is different; you should contact the company directly if you require further information.

Varying Disruptions

Significant business disruptions can vary in their scope, such as only our firm, a single building housing our firm, the business district where our firm is located, the city where we are located, or the whole region. Within each of these areas, the severity of the disruption can also vary from minimal to severe. In a disruption to only our firm or a building housing our firm, we will transfer our operations to a local site when needed and expect to recover and resume business within 24 hours. In a disruption affecting our business district, city, or region, we will transfer our operations to a site outside of the affected area, and recover and resume business within 48 hours. If the business disruption is so severe that it prevents us from remaining in business, we will assure our customer’s prompt access to their funds and securities.

In light of the recent COVID-19 pandemic, McClurg Capital has reviewed its Business Continuity Plans (BCPs) to ensure they are sufficiently flexible to address a wide range of possible effects in the event of a resurgence or new pandemic. In this regard, McClurg Capital has evaluated possible pandemic related effects as set forth in Notice 09-59, which reflects FINRA’s survey of selected member firms with respect to preparedness for a global pandemic. Identified concerns by the survey participants as possibly arising from a pandemic included: absenteeism, telecommunications disruptions, and remote work arrangements. Additional concerns included commuting, provision of customer service, transportation, trade clearance and settlement, counterparty risks, market volatility, regulatory filings, power disruptions, and access to online accounts.



For More Information

If you have questions about our business continuity planning, please contact your McClurg Capital Representative.

Order Routing & Best Execution

McClurg Capital does not receive compensation for directing order flow. Our clearing firm, Pershing, selects certain market centers to provide execution of over-the-counter and exchange-listed securities transactions which agree to accept orders, transmitted electronically up to a specified size, and to execute them at or better than the national best bid or offer (NBBO). On certain larger orders, or if the designated market centers do not make a market in the subject security, Pershing directly contacts market centers to obtain an execution. The designated market centers to which orders are automatically routed are selected based on the consistent high quality of their executions in one or more market segments and their ability to provide opportunities for executions at prices superior to the NBBO.

Pershing regularly reviews reports for quality of execution purposes.

Pershing has provided the data concerning the routing of order flow (the ”Data”) on the order routing disclosure web site. Although Pershing has used commercially reasonable efforts to provide accurate data, the data is provided to you on an “as is” basis.

If you would like to read this information, visit the order routing disclosure site,

Extended Hours Trading Risk

You should consider the following points before engaging in extended hours trading. “Extended hours trading” means trading outside of “regular trading hours.” Regular trading hours” generally means the time between 9:30 a.m. and 4:00 p.m. (ET). McClurg Capital does not recommend participation in extended hours trading, except for unusual circumstances.

  • Risk of Lower Liquidity. Liquidity refers to the ability of market participants to buy and sell securities. Liquidity is important because with greater liquidity investors are more likely to pay or receive a competitive price for securities purchased or sold. There may be lower liquidity in extended hours trading as compared to regular trading hours. As a result, your order may only be partially executed, or not at all.
  • Risk of Higher Volatility. Volatility refers to the changes in price that securities undergo when trading. There may be greater volatility in extended hours trading than in regular trading hours.
  • Risk of Changing Prices. The prices of securities traded in extended hours trading may not reflect the prices either at the end of regular trading hours, or upon the opening the next morning.
  • Risk of Unlinked Markets. Depending on the extended hours trading system or the time of day, the prices displayed on a particular extended hours trading system may not reflect the prices in other concurrently operating extended hours trading systems dealing in the same securities.
  • Risk of News Announcements. Important financial information is frequently announced outside of regular trading hours. In extended hours trading, these announcements may cause an exaggerated and unsustainable effect on the price of a security.
  • Risk of Wider Spreads. The spread refers to the difference in price between what you can buy a security for and what you can sell it for. Lower liquidity in extended hours trading may result in wider than normal spreads.

Anti-Money Laundering and The Patriot Act

To help the government fight the funding of terrorism and money laundering activities, federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. When you open an account, we will ask for your name, address, date of birth and other information that will allow us to identify you. We may also ask to see your driver’s license or other identifying documents. Failure to disclose all information requested may result in a delay or denial in opening your new account. Please be advised that our request for information is required under federal law.


Information regarding the Securities Investor Protection Corporation (SIPC) including a SIPC brochure, may be obtained by contacting SIPC via its website at or by calling (202) 371-8300.

Privacy Policy

This Privacy Statement answers some questions about what nonpublic personal information we collect, what we do with it, and how we protect it.

At the time of opening an account with McClurg Capital, we gather from you certain personal and financial information on your new account application. This information may be used to determine the suitability of certain investment securities and to verify identity as required by federal law under the U.S. Patriots Act of 2001. You may be assured, however, that no information will be released to any third party except as required by law.

When you apply for or maintain an account with us, we collect the following types of information:

  • Information provided by you, such as your name, address, social security number, date of birth, employment information and financial information.
  • Information about your transactions with us.

McClurg Capital discloses the nonpublic personal information about you described above, primarily to provide you with the financial services you seek from us. Our privacy policy continues to apply to you even if you are no longer a customer.

McClurg Capital does not disclose nonpublic personal information about you to any non-financial services company. McClurg Capital does not sell your personal information to any nonaffiliated companies for marketing purposes.

McClurg Capital discloses information to nonaffiliated companies that work for us in providing financial services to you. For example, we provide information to nonaffiliated companies that perform data processing services for us and companies that prepare and mail statements and proxy materials. These companies, acting on our behalf are required to keep your personal information confidential.

Additionally, McClurg Capital discloses nonpublic personal information to nonaffiliated third parties as required by law. These parties include government/regulatory organizations such as the Internal Revenue Service and the Securities and Exchange Commission. Disclosures for which you have provided your consent are also permitted.

We maintain physical, electronic, and procedural safeguards that comply with federal standards to guard your nonpublic personal information. Access to your nonpublic personal information is limited to those employees who need to know that information to provide products or services to you, such as customer services personnel.