Safeguarding Assets

The assets we manage for you are held by a third-party custodian in your name. A third-party custodian might be a financial services firm such as Pershing LLC, Charles Schwab, or TD Ameritrade. The custodian maintains and safeguards your assets and executes the investment transactions that you direct. Your custodian also provides you with updates on the value of your assets. In addition to the consolidated reports you receive from Clear Perspective, you receive statements directly from the custodian confirming all transactions, from trades and wire transfers to any changes in how the account is registered.

Using third-party custodians seeks to minimize the exposure to risk and fraud because it establishes a secure check-and-balance relationship between Clear Perspective, the investment managers, and the third party custodian. In this relationship, we have no access to withdraw your money.

We currently coordinate with numerous custodians, although the majority of our clients’ 401(k) and Pension assets are held at Schwab Institutional, a division of Charles Schwab & Company.

All custodians who hold the assets of our clients are regulated by and subject to the examinations by FINRA and the SEC. FINRA is a self-regulatory organization with supervisory jurisdiction, including audit, over our custodians. These rules established by FINRA and the SEC are extensive and rigorous, and a failure to comply with them may result in penalties, fines or criminal action.