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Our Firm and National Financial

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What is a custodian?

A custodian is a financial institution that has certain regulatory responsibilities for an investor’s securities.

Investments that you entrust to our firm are placed in custody with Fidelity’s clearing firm, National Financial Services LLC (NFS)—National Financial Services is a Fidelity Investments® company and a leading provider of clearing and custody solutions for over 30 years. A clearing firm is an organization that, among other things, handles the execution, clearance, and settlement of transactions.

When you’re selecting your financial professional, considering who they use to custody your investments can be critical.


How we work together for you

Fidelity Investments® is one of the world’s largest providers of financial services. Founded in 1946, the firm is a leading provider of investment management, retirement planning, portfolio guidance, brokerage, benefits outsourcing, and many other financial products and services to more than 20 million individuals and institutions, as well as through 5,000 financial intermediary firms. For more information about Fidelity Investments, visit Fidelity.com.


Asset Protection

Securities in accounts carried by National Financial Services LLC (“NFS”), a Fidelity Investments company, are protected in accordance with the Securities Investor Protection Corporation (“SIPC”) up to $500,000. For claims filed on or after July 22, 2010, the $500,000 total amount of SIPC protection is inclusive of up to $250,000 protection on claims for cash, subject to periodic adjustments for inflation in accordance with terms of the SIPC statute and approval by SIPC’s board of directors. NFS also has arranged for coverage above these limits. Neither coverage protects against a decline in the market value of securities, nor does either coverage extend to certain securities that are considered ineligible for coverage. For more details on SIPC, or to request a SIPC brochure, visit www.sipc.org or call 202.371.8300.

“Excess of SIPC” Coverage In addition to SIPC protection, NFS provides for brokerage accounts additional “excess of SIPC” coverage through Lloyd’s of London, together with other insurers.*

The excess of SIPC coverage will be used only when SIPC coverage is exhausted. Like SIPC protection, excess of SIPC protection does not cover investment losses in customer accounts due to market fluctuation. It also does not cover other claims for losses incurred while broker-dealers remain in business. Total aggregate excess of SIPC coverage available through NFS’s excess of SIPC policy is $1 billion. Within NFS’s excess of SIPC coverage, there is no per-account dollar limit on coverage of securities, but there is a per-account limit of $1.9 million on coverage of cash. This is the maximum excess of SIPC protection currently available in the brokerage industry.

Lloyd’s of London currently has an A (Excellent) rating with “Stable Outlook” from the ratings firm A.M. Best and an A+ (Strong) rating with “Stable Outlook” from Fitch Ratings and Standard & Poor’s.†

*Fidelity’s excess of SIPC insurance is provided by Lloyd’s of London, together with AXIS Specialty Europe Ltd. and Munich Re.

†As of December 2012, and subject to change. For ratings explanations, please go to http://www.lloyds.com/ Lloyds_Market/Ratings/.


National Financial Services

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Disclosure

Fidelity Investments is an independent company, unaffiliated with National Securities Corporation. Fidelity Investments is a service provider to National Securities Corporation.

There is no form of legal partnership, agency affiliation, or similar relationship between your financial advisor and Fidelity Investments, nor is such a relationship created or implied by the information herein. Fidelity Investments has not been involved with the preparation of the content supplied by National Securities Corporation and does not guarantee, or assume any responsibility for, its content.

Fidelity Investments and National Financial are registered service marks of FMR LLC.

Clearing, custody, or other brokerage services may be provided by National Financial Services LLC.

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